That Magical Moment When High Home Values and Low Mortgage Rates Make Dreams Come True

Written by Posted On Monday, 12 April 2021 00:00

“Life holds a special magic for those who dare to dream.” Anonymous

This week homeowners and homebuyers saw home values continue to rise, and the mortgage rates dipped down for the first time since January. The seemingly unattainable dream of renovating your home to be your castle or restructuring your debt so you can retire suddenly became possible like the wave of a magical wand. 

Mortgage rates dipped about 5% this week for the first time since January 2021.  Home values increased 15.6% year-over-year.  The mortgage that the aspiring homebuyer could not afford last week suddenly became affordable this week

The Collinger’s dream of getting their children through college, and retiring within the next ten years seemed impossible.  This week, their home hit the highest value they had ever seen. At the same time, mortgage rates dipped back down from their recent climb.   Restructuring the other debt with a cash-out refinance with the high home value and low fixed rate, the Collinger’s could now do what they never imagined they could—get their older kids through college and set their sights on retiring in less than ten years. 

The Dennison’s dreamed of remodeling their home and opening up the kitchen and living room space, installing a gunite swimming pool, and converting the back patio area to a bar-b-que station to spend more quality time with friends and family.  They had attempted to get financing to achieve this dream over the years, but the home value was never enough, and the mortgage payment was always too high.   But, today, with a swish of the magic wand, all of these dreams, the Dennison’s are making a reality. 

If you have not explored selling your home and moving up, the low mortgage rate makes this step up much more affordable than you think-even with the higher price on the move-up home. 

In 2018 the Mueller’s explored selling their home and buying a bigger, more expensive home.  The payment buying the bigger, better home would have cost them $800 more per month on a mortgage—insanely out of reach. But, selling at the higher price now and locking in a much lower mortgage rate landed them their castle and only costs about $300 more per month.  Rising home value and the bottom bumping fixed mortgage rate was like the flick of the magic wand, and, viola’, they were in the beautiful dream home. 

What do YOU want to accomplish with YOUR mortgage?  Make Your Plan. Work Your Plan. If the deal works for you today, let’s do it today.   Let’s explore YOUR mortgage options.  

Connect with Jo Garner at www.JoGarner.com

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Jo Garner

“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals.”

As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want.  What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country. She offers conventional, FHA, VA or other loan programs for refinancing and purchases.

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home purchase financing.  

Jo Garner has been in the real estate/financing business for over 25 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine and was personally mentored in San Diego, California by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 25 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.  

In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com  

www.JoGarner.com

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