Luxury Homes in Highlands NC, Low Down Payment Could Mean Higher Rate

A low down payment could mean a higher interest rate when buying luxury homes in Highlands NC.  The financing of luxury homes typically involves a jumbo loan and these types of loans are private, which means the lender can charge a higher interest rate and most likely will.  The plus side is that a worthy borrower can purchase a luxury home in Highlands and not have to use up all of his capital to do so, freeing up some cash to invest in other things.

 

While the lending market has certainly changed in recent years it is getting easier for qualified borrowers to secure a loan, great news for Highlands real estate.  If you are looking to purchase a home with less than 20% down however, you will most likely end up with a higher interest rate for your mortgage.  This is a trade-off that is worth considering when weighing your decision on which home to buy.

 

Contact the team at Meadows Mountain Realty today for more information on buying Highlands real estate.  We welcome the opportunity to update you on current market conditions while getting you started on your property search.  Let our knowledge and experience serve as your guide to real estate in Highlands NC.

 

Click here to read “Low Down Payments Mean Higher Interest Rates” from The Wall Street Journal.

About the Author
BERKSHIRE HATHAWAY HOMESERVICES MEADOWS MOUNTAIN REALTY has been serving the Highlands NC and Cashiers NC areas offering exclusive mountain real estate and country club properties since 2003.

We recognize that there are many important aspects to consider in making a real estate choice. With that in mind, we listen closely to the needs and desires of each individual customer and work diligently to find the ideal mountain property or to sell your property as efficiently and effectively as possible. However, our job does not stop there.

Once you have made your real estate decisions, we are here to help you in any way that we can. It will be our pleasure to familiarize you with all aspects of the Highlands and Cashiers communities, including home, professional and personal services as well as activities, restaurants, health care and shopping. We will go the extra mile to ensure that your experience in the mountains exceeds your expectations.

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