Buying Highlands NC Real Estate, Rising Mortgage Rates
Anyone considering buying Highlands NC real estate has noticed the rising mortgage rates. While these higher rates may be causing some stress, there are ways to make the best of the situation. While rising rates may cause some potential buyers to wait on the sidelines, the reality is that there are positive side effects of rising rates. An experienced Highlands NC REALTOR will offer information as well as recommendations for reputable local lenders.
Weigh your options
There is no time like the present to examine all of your options for financing Highland NC real estate. Lower offers to offset the overall cost, paying cash and refinancing later, and examining different types of loans are among the choices facing buyers. Additionally, buying a Highlands NC home for sale today and refinancing if and when rates come down is an option. The important thing is to do your homework!
Adjustable rate loans
Adjustable rate loans are attractive when rates are rising and when buyers are planning to hold on to a property for a short amount of time. The rate will be lower upfront and adjusted after a period of time. This allows a buyer lower rates and lower payments at the start of a loan. This can end up with refinancing or selling a Highlands NC property. Either way, the initial cost of the loan will be less. Ultimately, it is important to understand the ramifications of a loan that ratchets up in cost.
Learn more about Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about buying property in Highlands NC. We welcome the opportunity to update you on the market while recommending reputable local lenders. Let our knowledge and experience serve as your guide to buying Highlands NC real estate.
Click here to read “Experts: Buyers Should Shop Around for a Mortgage as Rates Rise” from REALTOR Magazine.