Locking in favorable terms with a fixed-rate mortgage. As of this writing, interest rates are at their historical rock-bottom. Receiving a fixed-rate mortgage lets you potentially lock in the most affordable terms we’ve seen.
The Money-Saving Secrets of the Home Purchase
If you’re tired of throwing rent toward the landlord, you can keep some of that money by putting it toward the principle of your very own home mortgage. Why bother? Here are some of the money-saving secrets that homeowners can enjoy:
Get pre-approved for a mortgage to do your research first. Ready to shop around? There’s no pressure. Get pre-approved for a mortgage and find out how much home you can afford—these are essential next steps that convince a home seller that you mean business.
Buy the home you can afford. When you know your total monthly liabilities, your income, and your credit rating, you can easily calculate just how much home you can afford. This will help ensure that you buy a house that remains a long-term blessing and not a strain on your budget.
The Stats: What You Need to Know Before You Buy a Home
Homeownership is common. In fact, statistics from 2022 show that the homeownership rate was a staggeringly high 65.8%, which means the majority of people have gotten out of the rent cycle and into their own home.
You don’t need experience. First-time home buyers constitute one-third of all home buyers, which means that you don’t have to feel intimidating by the home buying process, even if it’s your first time. It’s far more common to be going through this process for the first time than you might imagine.
The average length of time is low. Have house fever? You’d be surprised how quickly things can move. The average length of time between someone visiting a potential home for purchase and the closing date was only 73 days, or two and a half months.
Are you interested in finding out if a home purchase makes sense for you? Are you ready to join the ranks of homeowners and lock in potentially low rates?
What Our Clients & Partners Say…
Mike Del Preto Mortgage Advisor
Deborah McClain
2023-04-11
I feel confident recommending Mike with DelPreto Mortgage to my buyers because I know he will shepherd them through the lending process with great care and attention. Our transactions go smoothly and close without a hitch. Mike is particularly great with first time homebuyers because he educates them on the process and is always there to answer any questions. He has a strong support team working with him as well.
Allyson Lewis
2023-03-29
I am delighted to provide a 5-star Google testimonial for Mike Del Preto, a mortgage officer for Fairway Independent Mortgage.
Mike is an excellent communicator who takes the time to understand his clients' unique financial situations and goals, and provides them with a range of options that are tailored to their needs. He is patient, responsive, and always goes above and beyond to ensure that his clients are well-informed and comfortable with the mortgage process.
What sets Mike apart is his genuine care for his clients. He is a true professional who is passionate about helping his clients succeed. If you are in need of a mortgage officer, I highly recommend working with Mike Del Preto at Fairway Independent Mortgage.
Gladys Lopez
2023-03-17
Mike and his team are extremely knowledgeable, professional, supportive and responsive. They stay in touch with you throughout the process and ensure any and all questions you have are answered. We appreciate their attention to detail and follow up.
Belia
2023-03-16
This was my first time purchasing a home. Mike and his team made this process very simple, answering all of my questions with patience and full disclosure. He made all of my options very clear and had an education forward approach which I appreciated as I knew nothing about the homebuying process. I'm now writing this review in my first home, something I never believed that I would achieve, but thanks to his advice, I am happy with where I am.
Kathryn Dreitzler
2023-02-06
Thanks for all your help and guidance, it made our first time home buying so much similar and less stressful. We appreciate how easy it was to schedule time with you and that you were very straightforward with us. We highly recommend Mike and his team!
Ryan Templeton
2023-02-03
In a city filled with lenders and agents and real estate folks alike, Mike and his team TRULY stand out above the rest. His knowledge, dedication, and process are second-to-none, and I know that anyone I send his way is given the utmost care and attention. It's because of this genuine concern for the client that Mike becomes more than just a "business partner" - he becomes a trusted FRIEND in the industry to all! HIGHLY recommended!
Keith Gerlich
2023-02-02
Mike Del Preto and his team did an excellent job! This was our first time buying a house and Mike
answered all our questions and made us feel comfortable and heard throughout the whole process.
They were on top of everything and responded quickly even if after business hours. We can’t
recommend Mike and his team enough!
Jennifer Grieger
2023-01-26
⭐️⭐️ ⭐️ ⭐️ Mike went above and beyond to ensure we understood everything about the process. Our closing was done in less then an hour mostly because of his promptness and organization. Thanks Mike for making everything go smoothly for us. This was our 3rd time using Mike for a mortgage or a refinance and I would for sure use him again!
Nick Arvetis
2022-11-28
Mike and his team were awesome to work with. They provided absolutely professional and timely advice and continue to manage my opportunities with regards to my mortgage after our first closing.
Chris Kate Gerlich
2022-11-26
Best of the Best…3 home purchases and 1 home refinance later and we still could not be any happier. Mike and his team seem to take our satisfaction personally. They always seem to go above and beyond to make sure we were informed, protected, and happy with everything. Do yourself a favor and look no further than Fairway for all your home purchasing/refinance needs. YOU WILL NOT FIND A BETTER COMPANY TO HAVE IN YOUR CORNER!!!
Our Educational Youtube Channel
📉🏡 When will mortgage rates come down? 🤔💰 #MortgageRates #HomeBuying #HomeLoans
🏡✨ 3 Ways to Financially Prepare to Buy a House! ✨🏡
401k for a Down Payment? 🏠💰 #MortgageTips #RealEstateAdvice
🏡💰 Should you use all your cash when buying a home? 🤔 #HomeBuyingTips #RealEstateAdvice #mortgage
5 Things NOT to Do When Buying a Home 🚫🏡
What You Need To Know About A Home Purchase
Why should I buy a home rather than rent?
Everyone’s situation is different. However, in the era of low interest rates, a new home purchase can make financial sense for a lot of people. Locking in these low interest rates can mean paying less for more square feet in some cases. That said, every person’s situation is different, and your motivations for buying a home (including the need for more space or privacy) may differ from other people.
How do I start the home buying process?
One of the best ways to show that you’re serious about buying a home is to get pre-approved for a mortgage. This will give you some leeway when it comes to making offers when you view homes. And in some cases, it’s viewed as a necessity when you go out shopping for homes. In many cases, the process is as simple as finding out what you can afford given your current income, levels of debt, and financial obligations. The good news: it’s a lot simpler than you think!
What kinds of financial commitments do I have to make?
There are a lot of options for financing when you make a home purchase, so don’t feel that you have to commit to any particular one at this point. You’ll find that it’s possible to make a 20% downpayment, for example, but there may be types of financing available that require far less—as low as 3%, depending on your situation.
Why is now a good time to buy a home?
While it’s true that rates are up from last year’s historic lows, there are still many reasons why now could be a great time to buy. For one, falling home prices mean that you can get more house for your money. In addition, there is less competition from other buyers, so you may have an easier time negotiating a lower price. Don’t let rising rates scare you off – there are still plenty of reasons to buy the home you’ve always wanted!
What is the next step?
Click through our buttons above to find out whether you qualify for great terms on a new home purchase!
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