PrimeLending - Lebanon

Playing the waiting game with mortgage rates? You'd like to buy but ideally you want to wait for a lower interest rate – I totally get it! Here are my two cents about why waiting for rates might not be the best idea if you can afford to buy sooner rather than later:

When mortgage rates dropped in 2020-21, more buyers entered the market resulting in home price increases and bidding wars. Potential homebuyers priced out of today's market will be itching to buy if rates come back down. You may want to avoid the competition from other buyers flooding the market.
While waiting for rates to come down, rising home prices could make the overall cost of homeownership more expensive. Not only have home prices increased but rent prices have increased too. You can lock in a steady mortgage payment now and enjoy the equity that you build in the years to come.
Just waiting can be stressful. Analyzing market trends and monitoring the housing market can be draining. Plus, if you have specific time constraints (like your lease ending), waiting for rates may not be feasible.
Ultimately, deciding to wait or not to wait depends on your individual circumstances. Chat with a financial advisor or send me a DM to help you weigh the pros and cons!

Chocolate, pistachio, mint chip, oh my — happy National Ice Cream Month! We're celebrating (and avoiding brain freeze) all month long with our favorite flavor- chocolate peanut butter, MO's favorite! Tell us your favorite ice cream flavor.

It's easy to get caught up in the excitement of buying a home. 🏡✨ We want to help make your buying experience as simple as possible. Here's what not to do when you are buying a home:
1. Not getting prepared. Set yourself up for success by gathering your financial documents and getting approved now. Future you will be thankful when you're shopping for homes you know you'll be able to afford. 📄✅
2. Don't ignore the neighborhood. Make sure the neighborhood works for your commute and check it out at odd times of the day to see how noisy it is. 🚗🗺️
3. Forgetting to check all your loan options. Talking to a loan officer before you start house hunting can help you discover loan options you may not have considered on your own. 🏦🔍
Your road to homeownership begins with a lender that will help you understand the mortgage process.