Finding a New Home – by Danny Gamboa

                                          – When is the right time to buy a home? –

Many situations may cause a family to wonder about investing in a home. Maybe their career is advancing, their family is getting bigger, or they are just anxious to make the investment into owning their own home. So when is the right time to buy a home?  There is no better time to invest in a home than today! Listed below you will find some facts that support that statement.

As statistics show, property values in Verrado are moderately rising as are rental rates. Often the monthly rental fees are superseding the monthly house payments.  As home values climb in the area, the time to invest in the purchase of a home is now.

Another reason to look into buying a home now is the fact that the interest rates are at a record low.  Low interest rates make home buying more affordable and many banks are making it possible for families to become new home owners by offering 15 yr. fixed rates at 3% and 30 yr. fixed rates at 3.65%.  By giving the new homebuyer a good interest rate, the number of new homebuyers is steadily increasing.

Secondly, banks are now required to make the terms of buying a home easier.  The lenders are required to educate their perspective customers on what it is they are buying.  These clear terms allow homebuyers to better understand both what they are signing and what they are committing to buy.  As the terms are more simplistic for a buyer and the home prices are finally stabilizing, the future is looking good for a new home owner to find the right home at the right price.

Furthermore, high down payments don’t have to be a deterrent when wanting to purchase a new home.  Programs like Fannie Mae and Freddie Mac Home Possible Mortgages, can help a new home buyer qualify for a home with a down payment as low as 3% and a credit score of 620.  These programs allow home owners to have stable monthly payments, flexible closing costs, and reduced mortgage insurance coverage levels.

It is a perfect time to buy a home in the lovely picturesque community of Verrado.  With the White Tank Mountains as a scenic view, over 70 parks, and 21 miles of trails, one can enjoy the Sonoran Desert landscape and home town feel Verrado has to offer.

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