Homebuyers find creative ways to pay lower mortgage rates

preview_player
Показать описание
NBC News' Brian Cheung reports on how some homebuyers are finding creative ways to pay for their new homes with a lower mortgage rate than they expected.

Connect with NBC News Online!

#Mortgage #Homebuying #Economy
Рекомендации по теме
Комментарии
Автор

In the early 1990s, when I bought my first home in Miami, first mortgages often came with rates of 8 to 9% and 9% to 10%, which was quite common. It's important to consider that we may never return to 3% rates. If sellers are compelled to sell, home prices may need to decrease, leading to lower valuations. I believe many others share this line of thinking.

NicholasBall
Автор

Great video!  For 2024, it’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

Aarrenrhonda
Автор

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

MizThe
Автор

Never thought about this. Congrats to everyone who can take an advantage of this.

kkk
Автор

I’m glad at the end they mentioned that assumable mortgages are not advised if the owner has a lot of equity. Why you may ask? Because you have to pay the difference as your down payment.

joelpicolo
Автор

Great to hear about a realtor that understands creative strategies! There could be opportunity for so many sellers to sell if more agents would learn about legal creative strategies to purchase. Getting a home loan directly through the bank isn't the ONLY way to purchase a home!

rarefind
Автор

Im happy for this couple and their family ❤

MyFavoriteColorIsBLUE
Автор

Very happy for the second half of the video. It’s not nearly this simple and they explained it well in a short time.

awnineteen
Автор

Guys to do an assumable mortgage. You would have to pay the difference in equity.. meaning if there mortgage is 400, 000 and they are selling you the house for $500, 000 you are responsible to pay that $100, 000

PerForMSR
Автор

I have heard of this. The problem is that a person that wants to move has to try and find a house that is eligible.

nightstick
Автор

The government is going to ban this soon😂😂

armytruth
Автор

A lot of people think the mortgage rate is the only major factor to consider when buying/owning a home, but dont forget the property tax. That can fluctuate as well arbitrarily. They can "appraise"/value your home based on market conditions and that could increase your property tax significantly and put you deep in a hole as much as the mortgage rate can if not more. This system is not for you.

randyt
Автор

Its not that simple. The seller has to agree AND the buyer most likely does not have the cash pay the gap between mortgage and purchase price. It is also an extremely lengthy process.

DaveB
Автор

I looked into this as a home seller as a possible way to increase my sale price. Not all mortgage companies allow this, unfortunately, mine included.

Spielzeit
Автор

Great if the owner kept up with property taxes if not you become responsible for the back pay for the mortgage.

maleekajones
Автор

It was used a lot in the 70s and 80s. It takes a lot to buy out the seller but it works. I called this months ago

jikert
Автор

The issue with an assumable loan is that you have to come up with the asking price and existing mortgage balance difference. 3-5% down payment becomes 20%.

Bubba
Автор

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

ChloeCarter-kdgz
Автор

It only takes like 6 months for the loan to

Cavscout
Автор

Awesome idea...glad it worked on tbis family's favor

JuMiMi