You can do more than observe National Homeownership Month during June… you can celebrate! Here are some reasons why now can be a great time to buy a home, whether you’re a first-time buyer or already a homeowner.
Make 2019 a year to remember
A booming economy in 2017 and 2018 contributed to higher home prices and lower inventory in some areas, plus rising interest rates. This meant that many potential buyers decided to wait things out until the real estate and financial markets settled down.
If you’re one of those who’ve been waiting for a better time to buy, here’s some good news. Colorado REALTORS® report that home prices are steady this year and have even fallen slightly in some areas, and the total number of properties for sale has risen
. Also, interest rates have recently begun to fall.
More good news for homeowners
According to a Federal Reserve survey
, an American homeowner’s net worth in 2016 was 44 times greater than that of a renter ($231,400 vs. $5,200). Interestingly, since the previous 2013 survey was published, a homeowner’s net worth increased by 15% … but a renter’s net worth actually decreased by 5%.
How we can help you to become a homeowner
Although 2019 brought good news for homebuyers, the news wasn’t good for some Colorado renters. In addition to their net worth decreasing, rent costs continued to rise year after year. For example, cities like Aurora and Colorado Springs were home to some of the nation’s steepest rent increases, with prices rising by over 30% over the past five years
If you’re tired of watching more of your take-home pay going towards rent, why not check into your home financing options right now? Home Mortgage Alliance currently offers a comprehensive loan program for first-time and repeat homebuyers. They include:
- Conventional, fixed-rate home loans with terms up to 30 years.
- FHA home loans with low down payment requirements.
- VA home loans for military veterans, reservists and active service personnel.
- USDA home loans for purchasing a home in rural areas. You’d be surprised by the number of cities located just outside of major cities that qualify!
- Renovation home loans that help you buy a fixer-upper and turn it into your dream home.
- Down payment assistance programs that help make homeownership truly affordable.
We’ve helped thousands of satisfied people become homeowners. We have over 1600 reviews
, with an average score of 4.94/5, from satisfied home buyers. Just last year, we helped over 1,280 individuals and families buy a home in Colorado. We’d like your home to be next.
Contact an experienced Home Mortgage Alliance mortgage professional today
to start your path to homeownership, and see why we’ve been voted one of the Best Places To Work two years in a row by the Denver Post
Jun 14, 2019