Have you spent ages dreaming of buying a house? Now’s the perfect time to go for it. Yes, really! Make this your year to take that big step forward. This year offers a number of reasons to finally chase your homeowning dreams. So, stop dreaming and start moving. Read on to find out more about the reasons for homebuying. And see how you can find the best “credit union home loans near me.”
1. The Housing Market Is Looking Up This Year
If you pay attention to the market, you’re likely aware that last year presented some challenges. But this year is putting those in the past. The opportunities last year brought, though, are here to stay. Hope is on the horizon.
Home prices will be rising at a slower rate this year. Especially compared to the way they rose in 2021. Over the past year, existing home prices rose about 14.6%, according to the National Association of Realtors. By contrast, this year, they’re expected to rise about 2.9% to 7%. That’s quite a difference.
This steadier rise is reassuring. It means you won’t feel rushed into buying a house. Unless you want to, of course. But you don’t have to fear quite a massive price hike.
2. Get Ready for More Options!
This is because more houses are set to hit the market. That makes looking at houses even more fun and exciting. According to NerdWallet, a number of real estate industry groups are predicting a rise in homes for sale. In fact, these experts have already noticed an uptick this year.
So, what does this mean for you? To start, you’ll have more potential homes to choose from. The more options, the better. Especially when it comes to a major purchase, you want it to be just right.
That’s not all it means. You’ll have less competition too. When you put in an offer, you won’t just be one among so many. Less competition means better chances. That’s so important when it comes to getting the home you’ve fallen in love with. Less competition also means homes could remain on the market a little longer, giving homebuyers more time to find what they’re looking for.
3. Mortgage Rates Are Currently at Historic Lows
This is a good thing. Another good thing? They’ll stay that way. At least for this year. Why is this good news for you? Lower mortgage rates equal more affordable home loans. Credit union home loans near you will still be looking good. And stay that way all year long.
The credit requirements for home loans are a little looser this year as well. A lower credit score could still land you a home loan. Don’t let past standards hold you back.
It might not stay like this forever. This is exactly why this year is the perfect time to get moving. Take advantage of circumstances that make it easier to buy a home.
4. If You’re Ready, It’s Time
All the above reasons are important. The current economic factors are looking good. And that’s great for you. But your readiness is the most important reason. If this is the right time for you, go for it. When all your ducks are in a row, there’s no time like the present.
Do you feel ready? This is the year to buy a house if you’re yearning to put down roots. You’re tired of renting. You want stability. You’re ready for the next phase. You can handle the responsibility. You expect to stay in a house for at least a few years.
Are your finances in order? If your employment is steady, your savings are full and ready to use, your credit score is good, your debt is under control, and your debt-to-income ratio is low, then it might be the perfect move.
If you’re ready, don’t wait. Start your search for the best credit union home loans.
5. Credit Unions Like Solarity Have Your Back
When you’re ready to move forward, you need to start by finding a great lender. Credit unions offer all the services and amenities a homebuyer needs, along with great interest rates and low fees. All you have to do is search “best credit union home loans near me” and check out your options.
First-time homebuyer? No problem. Credit unions will have the resources to help you out. You’ll find home loan guides to help you through the process and offers for low-down- and no-down-payment home loans.
You could own a home for the same amount you pay in rent—maybe even less. And trust us, homeownership has its benefits. Get the huge yard you’ve dreamed of, choose your own decor, and best of all, save up equity in your home and invest in your future.
Live in Washington State?
If you live in Washington, consider partnering with Solarity Credit Union for the homebuying process. They offer great resources and services, great rates, and more. They also embrace the latest technology to make the homebuying process easier than ever. This means greater convenience for their members. Start your home loan application online. Check out their online payment calculator. Close from anywhere with our eSigning experience.
Already a homeowner and interested in home loan refinance? We can help with that too. It’s one of the many great services our members enjoy.
The housing market, mortgage rates, your own financial security, and great services are just a few of the reasons 2022 is your year to own a home. So if you’re ready, don’t hesitate to get started. Search “best credit union home loans near me” and find a great credit union to help you with your journey.