Real Estate Talk with Denise Kopasz: Mortgages

Learn how the new tax laws affect you

The mortgage rates are going up. How will this affect me?

Buyers looking to purchase a home in the next few months are facing numerous obstacles. If you are looking and are serious about buying you will need to be sure you are prepared with a pre-approval that is up to date. If you are house shopping and you have a pre - approval from months ago get a new updated one. It is no news that rates are going up and your buying power might be going down. Combine the fact that inventory is low and we are starting to see multiple offers ,you will need to be prepared with proof you are qualified. It is really difficult to navigate when the tax laws are changing, the rates are changing, and for most of us our investments are are changing like the tides.

To put yourself in the best most educated position to purchase you need to speak with your accountant and learn how new 2018 tax laws will affect you. Next call should be to a Real Estate Agent that is up to date on all the changes and can help prepare you for a multiple offer situation and finding the best property to meet your needs. The third call is to multiple mortgage professionals that can discuss different mortgages to suit you needs as well as provide you with confidence as to what you can afford. My past experience tells me when things change in the mortgage world the financing opportunities grow and the options change. Sometimes mortgages change for the best and sometimes for the worst. I remember when they wrote mortgages just because the house would appreciate in value quickly. Then there was the period where everyone got into the variable mortgages because the houses were so expensive no one could afford the  payments. Well these times they are changing again. Contact me for more information on how to get you ready to make your purchase.

Current rates courtesy of Frank Merlola, William Raveis Mortgage. [email protected]

  • 30 yr. fixed conventional- 4.25%.
  • 30 year jumbo < $650,000 - 4.5%
  • 15 yr. fixed Conventional- 3.75%.
  • FHA 30 yr. fixed - 4%
  • 7/1 ARM- 3.875%

Denise Kopasz, Broker
Licensed MA & NY
William Raveis Real Estate
[email protected]
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