Dignified Home Loans

As widely expected, the Fed raised the federal funds rate by 25 basis points in Late March. Of greater interest to buyers, Fed officials increased their projected pace of future rate hikes from their last set of forecasts in December. While just four officials projected in December that four rate hikes will be needed in 2018, seven officials now expect that to be the case. The forecasts for the pace of rate hikes in future years also increased. These interest rate hikes are slowly eroding the purchasing power of homebuyers by making it more expensive to purchase a new home. Since more rate hikes are confirmed for this year, now is the time to take advantage of rates that are still historically low. Homebuyers can save hundreds or even thousands by purchasing a new home now.

So interest rates are on the rise which will make qualifying more challenging. However,this is a necessary step to change the dynamic of the market. We have had a shortage of homes for sale for a very long time and the rise of interest rates will help to reverse that. There is a correction anticipated in the market that some say will come in the next 18 months...however, it is not expected to be a severe as the last correction. If you wait to for that correction, you could be... looking at much higher interest rates which could make your payment as high or higher than before the correctio. So, my advise is, make hey while the sun is shining...in other words...if you are in the market for a home, jump in while the rates are still reasonable good. You still will get your mortgage tax deduction up to $750,000 loan amount and property taxes are deductible up to $10,000. Once you factor in your tax deduction, and contribution to principle, I believe you will find that owning a home is more affordable than renting a home. Also, you can always rent out a room via air B and B or perhaps a permanent roommate situation. Now you have an asset that you can make money on as well! See more

We are now doing all first time home buyer programs as well as asset based financing for self-employed individuals.

I have been helping first time buyers and would be investors through the often times tedious mortgage loan process for the past 30 years.I strive to make the experience as pleasant as possible. I had my own mortgage company for 14 years and am part of a great direct lending team, Dignified Home Loans.