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Great Time to Shift Equity ๐Ÿ’ฐ & Move Up ๐Ÿก or Refinance ๐Ÿ“‰

May 11, 2021 By Tami Savage

These are the highlights from the interview on Friday, May 7th with Carson Wright, a mortgage lender.

Equity is through the roof right now. ๐Ÿš€ If you have a high-interest mortgage and either shifting it into another house ๐Ÿก (upsizing/downsizing) & selling your existing home OR refinancing to get a better rate. ๐Ÿ“‰

If your mortgage is anything over 5%, make the call, get a refinance. If you're sitting anywhere in the 4s, start exploring. ๐Ÿงญ You always want to get at least a percentage point lower, in refinance that's the ultimate goal. If you get a little bit less and you're able to remove mortgage insurance, which is there on every loan (drops off once you have enough equity). Always check it out.

As long as you're closing on your current home and the sell of that prior to the purchase of your new one, you can easily transition those funds directly to the next title company where you don't have to do anything. You just cashed in a hundred thousand dollars from the sale of your home and now you use those same funds for the purchase of your new one, putting down a massive down payment or whatever you guys wanna do. ๐Ÿ’ฐ

Plenty of options in this market.

What about jumbo loans? Those are a little bit higher interest rates. What would you say from that perspective as far as if you're above X…?

Correct, and so beautiful words there, jumbo loans, just being a higher risk, the non-standard loans there are going to be higher interest rates. … once over 6% I would say explore it.

It's never a bad thing to look into. If you haven't looked into it already, explore it, ask the questions, see if it's possible.

The first question asked is “what's the interest rate” or “what's my monthly payment gonna be on this home.” The home matters, your interest rate, & your credit score matters because if you have 20% equity in your home, you can drop that mortgage insurance using a conventional loan. FHA will have that there for the life of the loan but you can remove that. And that is often times the biggest saving point on … And especially in this market people's home values are going through the roof and you're getting that 20% equity so much quicker. Your private mortgage insurance is the kicker and that's what drops off. ๐Ÿ“‰ And I'm telling you that along with a better interest rate and that's the nice little gap where you don't have to quite get the 1% of a better interest rate. If you can just get it better anyway and remove that mortgage insurance, it's a no-brainer.

Regardless if you're over 5% or even at 4%, you're gonna want to start exploring and just see what's there. It's an easy thing to say if you're an over 5% go refinance but if you're in the 4s or even high 3s and it's never a bad thing to look into.

We just got a jobs report ๐Ÿ“ and it's usually a big indicator on the economy and everything that didn't quite come in as high as we thought. Meaning these interest rates were gonna rise with all the new job openings. ๐Ÿ“ˆ But because that number wasn't quite what they expected, interest rates are still good. ๐Ÿ“‰ We were expecting a dip today but everything is still holding. The thing that we monitor in the mortgage world is that 30-year mortgage bond and the 10-year Treasury bond. All of those matters play a factor in your interest rates that you're seeing on the consumer side.

So as we're monitoring this, it is always a roller coaster. ๐ŸŽข And right now this roller coaster is a blast, ๐Ÿš€ hop on if you can. This is why we're experiencing, with interest rates being so low … at these levels, everybody wants to buy. That's why every single person is experiencing these massive competitions with every home because everybody wants to hop in on these rates.

Several people who want to buy a new home but are in their existing home are scared to move forward because of the multiple offers and bidding wars that everybody is going through right now. I would encourage people if they want to move up into a bigger home ๐Ÿก and you have equity ๐Ÿ’ฐ in your current home, let's start exploring, let's get out and see what we can find. We'll start right away with Carson and find out what we can get pre-approved for. ๐Ÿงพ The good news is to sell a property at this time, super easy, especially once you find a house to buy.

You can have your home under contract ๐Ÿ“ and we will plan out the process. We get a document from you, listing their home, ๐Ÿก that shows what the proceeds ๐Ÿ’ฐ are and we're gonna use that for the next purchase of the home.๐Ÿก We do it all the time. It's nothing scary. Oftentimes people get overwhelmed with “oh, I'm selling one home and instantly going to another.” That seems like a lot but not for us in this business.

***Carson Wright, NMLS 1693440***
407-747-1492
ca***********@tm*.mortgage
http://themortgagefirm.com/carsonwright

***Tami Savage***
727-282-4390
ta**@ta********.com
https://tamisavage.com

Tagged With: For Sellers, Move-Up Buyers, Video

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๐Ÿก ๐†๐จ๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ž๐ฒ๐ž ๐จ๐ง ๐š ๐ง๐ž๐ฐ ๐ก๐จ๐ฆ๐ž ๐ญ๐ก๐ข๐ฌ ๐Ÿ๐š๐ฅ๐ฅ? ๐Ÿ‚
Competition is fierce, but I've got your back! Get pre-approved to stand out from the crowd.

๐–๐ก๐ฒ ๐๐ซ๐ž-๐€๐ฉ๐ฉ๐ซ๐จ๐ฏ๐š๐ฅ ๐Œ๐š๐ญ๐ญ๐ž๐ซ๐ฌ
1๏ธโƒฃ It sets your budget, so no guesswork.
2๏ธโƒฃ It tells sellers you mean business.

Ready to make it happen? DM me! ๐Ÿ“ฉ

Article: https://tamisavage.com/beginning-with-pre-approval/
๐Ÿก ๐‘๐ž๐ฆ๐จ๐ญ๐ž ๐–๐จ๐ซ๐ค + ๐‡๐จ๐ฎ๐ฌ๐ž ๐‡๐ฎ๐ง๐ญ = ๐„๐ง๐๐ฅ๐ž๐ฌ๐ฌ ๐๐จ๐ฌ๐ฌ๐ข๐›๐ข๐ฅ๐ข๐ญ๐ข๐ž๐ฌ! ๐Ÿก
Work from your couch? That's great news when you're in the home-buying game! ๐Ÿ›‹๏ธ๐Ÿ’ผ
Expand your horizons and find a space that not only says 'home' but also screams 'perfect workspace.' ๐ŸŒ 
๐Ÿ‘‡ DM me and let's unlock your dream lifestyle! ๐Ÿ—๏ธ

Full Infographic: https://tamisavage.com/how-remote-work-helps-with-your-house-hunt-infographic/
๐Ÿก ๐˜๐จ๐ฎ๐ซ ๐‡๐จ๐ฆ๐ž, ๐˜๐จ๐ฎ๐ซ ๐‘๐ฎ๐ฅ๐ž๐ฌ! ๐Ÿ“œ
Owning a home is more than just an investment or dollars & cents; it's a life upgrade!

๐ŸŽจ ๐…๐ซ๐ž๐ž๐๐จ๐ฆ ๐ญ๐จ ๐ƒ๐ž๐œ๐จ๐ซ๐š๐ญ๐ž, ๐‚๐ซ๐ž๐š๐ญ๐ž, & ๐Œ๐จ๐๐ข๐Ÿ๐ฒ ๐Ÿ› ๏ธ
You wanna paint that living room lime green? Go for it!
Want a glass front door instead of solid wood? Change it!
Want to knock down a wall or add a home office? You can!

๐Ÿ‘ช ๐…๐š๐ฆ๐ข๐ฅ๐ฒ ๐‚๐จ๐ฆ๐ž๐ฌ ๐…๐ข๐ซ๐ฌ๐ญ
A home is the perfect place to watch your kids grow and make lasting memories. More importantly, it adds stability!

๐Ÿ˜๏ธ ๐‚๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐ญ๐ฒ ๐‚๐จ๐ง๐ง๐ž๐œ๐ญ๐ข๐จ๐ง
Neighbors aren't just the folks next door; they're your support system.

Ready to make the move and enrich your life? Holler at me anytime! ๐Ÿ“ฒ

For more Insights: https://tamisavage.com/the-many-non-financial-benefits-of-homeownership/
๐Ÿ’ผ ๐‘๐ž๐ฆ๐จ๐ญ๐ž ๐–๐จ๐ซ๐ค = ๐Œ๐จ๐ซ๐ž ๐‡๐จ๐ฆ๐ž ๐Ž๐ฉ๐ญ๐ข๐จ๐ง๐ฌ! ๐Ÿก ๐‹๐ž๐ญ'๐ฌ ๐‚๐จ๐ง๐ง๐ž๐œ๐ญ ๐ญ๐ก๐ž ๐ƒ๐จ๐ญ๐ฌ!

Remote work isn't just about Zoom calls in PJs. It's an opportunity to change your entire home search game!

๐Ÿ’ก ๐…๐ฅ๐ž๐ฑ๐ข๐›๐ข๐ฅ๐ข๐ญ๐ฒ = ๐Œ๐จ๐ซ๐ž ๐Ž๐ฉ๐ญ๐ข๐จ๐ง๐ฌ
Think bigger yards, extra rooms, and maybe even a lower cost of living! ๐ŸŽ‰

Curious? Call, text, or email me, and let's talk! ๐Ÿ“ฒ

๐Ÿ‘‰ Blog Link for all the ins and outs: https://tamisavage.com/remote-work-is-changing-how-some-buyers-search-for-their-dream-homes/

#RemoteWork  #HomeBuying #DreamHome #LocationFlexibility #WorkFromHome #HomeSearch #PropertyHunt #RealEstateMarket #ModernWork #NewNormal #LifestyleUpgrade #realestatenews #realestateexpert #realestateadvice #realestateblog #TamiSavageRealtor #realestate #realtor #realestateagent #cummingga #miltonga #cantonga #alpharettaga #ballgroundga
๐Ÿก Wondering if Nowโ€™s the Right Time to Sell? ๐Ÿก Wondering if Nowโ€™s the Right Time to Sell? Your Home Equity Might Just Be Your Ace! ๐Ÿก

Equity = Your Home's Value - What You Owe. ๐Ÿค‘ And here's the kickerโ€”nearly 70% of homeowners are sitting pretty with significant equity. So if you've been holding off selling due to mortgage rates, this could be your game-changer!

๐Ÿ“ฒ Got questions about your home equity? Donโ€™t hesitate to call, text, or email me anytime!

๐Ÿ‘‰ Want the full scoop? Check out my latest article on how your home equity can offset affordability challenges: https://tamisavage.com/your-home-equity-can-offset-affordability-challenges/
Regardless of rising mortgage rates, the desire fo Regardless of rising mortgage rates, the desire for dream homes remains strong! ๐Ÿก Buyers are actively searching, eager to find their perfect match. โ 
โ 
If you've been waiting in the wings, it might just be your time to shine.  No need to hit pause for fear of silent echoes. The marketplace is humming and ready for your listing!โ 
โ 
Ready to spotlight your home? Letโ€™s get you connected with eager buyers!โ 
โ 
https://tamisavage.com/plenty-of-buyers-are-still-active-today-infographic/
Puzzling over why finding the right house seems so Puzzling over why finding the right house seems so challenging lately?โ 
โ 
1๏ธโƒฃ ๐“๐ก๐ž ๐๐ฎ๐ข๐ฅ๐๐ž๐ซ'๐ฌ ๐๐š๐œ๐ค๐ฅ๐จ๐ : We've seen fewer homes built in recent years. And while builders are stepping up the pace, bridging the home gap is taking time. ๐Ÿ—๏ธโ 
โ 
2๏ธโƒฃ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐‘๐š๐ญ๐ž ๐Œ๐š๐ ๐ง๐ž๐ญ: Many homeowners are glued to their spots, not wanting to let go of their attractive mortgage rates. ๐Ÿ’Žโ 
โ 
3๏ธโƒฃ ๐Œ๐ž๐๐ข๐š ๐‡๐ฒ๐ฉ๐ž: Sometimes, the media's spin can create unnecessary housing apprehensions. Always good to double-check and get the real story!โ 
โ 
So, whether you're aiming to buy, sell, or both, understanding today's housing scene is crucial. ๐Ÿ—๏ธโ 
โ 
Eager to dive deeper? Contact me for a personalized look at the housing inventory in our area, and let's navigate the maze together! โ 
โ 
For a more detailed breakdown: https://tamisavage.com/why-is-housing-inventory-so-low/
Has your trusty home started feeling a tad too... Has your trusty home started feeling a tad too... familiar? If you're toying with the idea of a change, you're in good company!โ 
โ 
๐‡๐ž๐ซ๐ž'๐ฌ ๐ญ๐ก๐ž ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง-๐๐จ๐ฅ๐ฅ๐š๐ซ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง: To buy or to rent next?โ 
โ 
๐Ÿ” Consider the following:โ 
โ 
1๏ธโƒฃ Rent Rise Alert! Historically, rents have been climbing. Yearly hikes? That could put a dent in your retirement fund! Freddie Mac puts it beautifully: With fixed-rate loans, you're locking in a predictable monthly expense, even when life throws those sneaky financial curveballs.โ 
โ 
2๏ธโƒฃ Home Sweet Owned Home! AARP highlights a key truth: Owning a home often outweighs renting. Think stability, investment growth, and truly owning your space.โ 
โ 
Baby boomers, if you're on the fence, reach out! ๐Ÿ’ฌ Let's discuss what makes sense for your golden years and unlock the best path for your next home adventure. ๐Ÿกโ 
โ 
https://tamisavage.com/should-baby-boomers-buy-or-rent-after-selling-their-houses/
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 โ€ข https://www.forbes.com/advisor/mortgages/what-it-takes-to-be-preapproved-for-a-mortgage-and-why-it-matters/
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SOURCE for Data in Video: 
 โ€ข https://themreport.com/news/data/08-29-2022/homebuyers-compromise
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Before buying a home, itโ€™s a good idea to know why homeownership is important to you. Letโ€™s connect to discuss your why and prioritize your next steps.

SOURCE for Data in Video: 
 โ€ข https://himaxwell.com/resources/ebooks-white-papers/1h-2022-millennial-genz-borrower-sentiment-report/#downloadnow
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Thereโ€™s a lot going on in the housing market right now. 

You can get the latest digital copy from my website post: https://tamisavage.com/the-winter-guides-for-buying-or-selling-a-home-are-here/
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Thereโ€™s good reason to make your move right now if youโ€™re ready to sell. Letโ€™s connect to talk about the benefits of selling your house this season.
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Rents have risen dramatically for over three decades. Letโ€™s connect so you can have expert advice on your side to help you reach your homeownership goals.

Data Source: 
 โ€ข http://www.census.gov/housing/hvs/files/currenthvspress.pdf
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