{"id":1360,"date":"2020-12-22T13:55:15","date_gmt":"2020-12-22T13:55:15","guid":{"rendered":"https:\/\/phphouses.com\/blog\/?p=1360"},"modified":"2021-01-27T15:04:22","modified_gmt":"2021-01-27T15:04:22","slug":"difference-year-makes-homeownership","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/difference-year-makes-homeownership\/","title":{"rendered":"The Difference a Year Makes for Homeownership"},"content":{"rendered":"
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The Difference a Year Makes for Homeownership<\/p><\/div>\n

Over the past year, mortgage rates have\u00a0fallen<\/a>\u00a0more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today\u2019s low rates provide consumers with some significant benefits. Here\u2019s a look at three of them.<\/p>\n

1. Move-up or Downsize:\u00a0<\/strong>One option is to consider moving into a new home, putting the\u00a0equity<\/a>\u00a0you\u2019ve likely gained in your current house toward a down payment on a new one that better meets your needs \u2013 something that\u2019s truly a perfect fit, especially if your lifestyle has changed this year.<\/p>\n

2. Become a First-Time Homebuyer:\u00a0<\/strong>There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you\u2019re considering it. Just take a look at the\u00a0cost of\u00a0renting vs. buying<\/a>.<\/p>\n

3. Refinance:\u00a0<\/strong>If you already own a home, you may decide you\u2019re going to refinance. It\u2019s one way to lock in a lower monthly payment and save more over time. However, it also means paying upfront closing costs, too. If you want to take this route, you have to answer the question:\u00a0Should I refinance my home?<\/a><\/p>\n

Why 2020 Was a Great Year for Homeownership<\/strong><\/h4>\n

Last year, the average mortgage rate was\u00a03.93%<\/a>\u00a0(substantially higher than it is\u00a0today<\/a>). If you waited for a better time to make a move, market conditions have improved significantly. Today\u2019s low mortgage rates are a huge\u00a0perk<\/a>\u00a0for buyers, so it\u2019s a great time to get more for your money and consider a new home.<\/p>\n

The chart below shows how much you would save per month based on today\u2019s rates compared to what you would have paid if you purchased a home exactly one year ago, depending on how much you finance:<\/p>\n

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Monthly Payment Savings<\/p><\/div>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019ve been waiting since last year to make your move into homeownership or to find a house that better meets your needs, today\u2019s low mortgage rates may be just what you need to get the process going. Let\u2019s connect today to discuss how you may benefit from the current rates.<\/p>\n

Contact us:<\/strong>
\nPHP Houses
\n142 W Lakeview Ave
\nUnit 1030
\nLake Mary, FL 32746
\nPh:\u00a0(407) 519-0719<\/span>
\nFax:\u00a0(407) 205-1951<\/span>
\nemail:\u00a0info@phphouses.com<\/p>\n

Let\u2019s Connect:<\/strong>
\nFacebook<\/a>
\nLinkedin<\/a>
\nTwitter<\/a>
\nInstagram<\/a><\/p>\n

THE INFORMATION PRESENTED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY AND SHOULD NOT BE CONSIDERED LEGAL, FINANCIAL, OR AS ANY OTHER TYPE<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

If you\u2019ve been waiting since last year to make your move into homeownership or to find a house that better meets your needs, today\u2019s low mortgage rates may be just what you need to get the process going. Finish Reading The Difference a Year Makes for Homeownership<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[69],"tags":[38,15,10,27,91,67,32,203,49,42,40,20,12,24,48,13,19,6],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1360"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=1360"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1360\/revisions"}],"predecessor-version":[{"id":1363,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/1360\/revisions\/1363"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=1360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=1360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=1360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}