09 Nov Ready For A New Home? Market Looks Good!
The home purchase market is booming and is expected to continue into 2021. The Mortgage Bankers Association (MBA) just released their 2021 market forecast announcing that purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021. On top of that, a new record was set the week of October 28th with the average loan size up to $372,600.
This is great news for anyone thinking about selling and buying a new home. Keep in mind that inventory could still be tight, though, and you might have to act fast to get the home you want.
Is there time to purchase a home and close before the holidays? Yes, there is time and the current market still provides favorable conditions to buy right now. Call me with questions and to see if you are eligible.
Loan options you might not know we have:
- Bank Statement – No tax returns required. Eligible self-employed borrowers can qualify using personal or business bank statements.
- Investor Cash Flow – Property investors qualify based on rental analysis – not income or tax returns.
- Portfolio Select – For homebuyers who just miss qualifying under traditional guidelines.
- Jumbo – Prime and non-QM Jumbo options for home purchases outside the conforming limit.
- FHA, VA, USDA – Government insured loans with down payment options.