Mortgage Rate & Median Home Sales Price Charts – Home Financing Options
This page goes over many of your Finance Options. This is the first thing we need to do for you if you are not paying Cash for your Home is to get you Pre-Approved for a Mortgage Loan.
You will not be paying the ugly Rates on this Live 30 Year Fixed Rate Chart.
After a little conversation we can first determine where you want to be located and maybe sort out the Builders that you have to choose from and then we can get you Pre-Approved through that Builder.
The New Home Builders currently have the Best Rates for Your Home Loan.
They are either Buying Pools of Loans Down and-or they are giving 10’s of 1000’s to you for Incentives that you can spend whichever way best helps you into the home.
They are making Great Deals now and will do everything they can to get you into a Home!
Be Sure to Scroll this Entire Page to See All of the Tools Available to You!
Housing Price & Housing Mortgage Rate Historical Charts
Federal Reserve Median Sales Price of Houses Sold – West Census Region
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30 Year Fixed Rate Mortgage Average
Mortgage Rates have gone up quite a bit compared to the previous years numbers but historically these are not bad rates.
1981 recorded the highest mortgage interest rates in history. For the all-time high for mortgage rates see the chart below.
For the week of Oct. 9, 1981, mortgage rates averaged 18.63%, the highest weekly rate on record.
This Page Needs to be Refreshed if this Chart is Not in Full View | Click the Chart to Wake It Up.
Some of Your Home Finance Options
If You will Do a Cash Purchase
You will only need a Proof of Funds to Submit with Your Offer. Of course all of the money goes through Title & Escrow and since they do not accept bags of cash, the money is transferred or wired to them and we do have an App for Secure Transfer of Earnest Money Deposits.
Finance the Purchase, Leave Your Cash Invested
If you do have all the Cash you need to do your Purchase you may very likely prefer to take out a Low Interest Conventional Loan for the Property and leave your Hard Earned Cash wherever you have it Invested so it can continue to grow.
Finance a Purchase then Sell
In this Sellers Market if you are Well Off Financially and able to Buy your Next Property before Selling your Existing Property you will be in a much more solid position to get it all done with minimal stress. Once you are about half dug into your Next Home it will be all downhill when Selling your Existing Property.
Loan Types – The New Home Builders will have all of these same options.
We can help you into a New Property whether you are a First Time Buyer, possibly even needing some Credit Restoration, all the way up to a Potential Cash Buyer who may prefer to Borrow rather than Tie Up all that Cash that could be used more productively.
FHA Loan Highlights
FHA loans are widely used by first-time home buyers and people with low-to-moderate incomes since this government-insured mortgage features:
Low down payments
- Flexible income and credit requirements
- Fixed- and adjustable-rate mortgages
- Loans for 1-4 unit properties and condos may be available
- Down payment funds can be a gift from a relative or employer*
- Home sellers can contribute up to 6% of the closing costs
VA Loans
Welcoming Veterans Home
Since VA loans often require no down payment* with lower closing costs, you can help keep your savings secure.
Home loans backed by the Department of Veterans Affairs (VA) provide affordable home financing options for eligible Service Members, Veterans and surviving spouses.
VA Loan Eligibility
In order to be eligible for a VA loan, you must first obtain a valid Certificate of Eligibility (COE). Your COE is based on length of service or service commitment, duty status and character of service.
VA Loan Highlights
VA loans feature:
No prepayment penalties
No private mortgage insurance (PMI)
100% financing with full VA entitlement*
Fixed- and adjustable-rate mortgages
VA financing fees can be “rolled” into the loan amount
*A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits.
The Pre-Qual Process
Getting Fully Pre-Qualified is the First Step of the Home Buying Process if you are going to take advantage of Financing!
This can happen in only a few days or so if you submit all of the required documents in a timely manner.
And once you get a Home Purchase underway there is a term “Time Is of the Essence” that needs to be taken very seriously. Failing to meet certain time lines can cost you your earnest money (down payment) or in certain instances land you in court.
When purchasing a New Construction Home the Builders Lender is usually going to give you the best terms. They are not just hoping to sell a loan, they are also trying to sell you a home. We’re just trying to get them to compete if you apply with an Outside Lender at the same time but it is very unlikely an outside lender will get a good rate until Trump blows away the Federal Reserve.
Most think the Builders are making lots of money but they are actually in a bad struggle at this time. The criminals at the FED have put a beating on the Real Estate Market while pretending to help us out by cranking the rates to the ceiling to keep inflation down.
We can narrow down the Builder you like and get you hooked up with their In-House Lender.
You will not hurt a Strong Credit Score by Applying for this Home Loan unless your Score is already weak.
Unless you are paying Cash this will be a Mandatory Event and it needs to be done before you get close to selecting your New Home.
Not Sure Where You Stand on Your Credit Worthiness?
Most of the Lenders can help you through Credit Repair if you know in the beginning that your not in great shape or if you do end up getting denied a Loan. It is not at all uncommon for surprises to pop up on your Credit Report if you have not kept a close eye on it.
The Lenders have Software that runs your Credit through some algorithms and it tells you what to pay off, pay down, close out or NOT to close out.
So if your Credit is not squeaky clean or even if it is looking good but you want to make it better it can be a good idea to let the Lender run it before you take any action. You can run your Credit a few times when getting ready to shop for a Home and it will not hurt a Good Score by more than a few points.
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It is illegal to discriminate in the sale or rental of housing, including against individuals seeking a mortgage or housing assistance, or in other housing-related activities. The Fair Housing Act prohibits this discrimination because of race, color, national origin, religion, sex, familial status, and disability. A variety of other federal civil rights laws, including Title VI of the Civil Rights Act, Section 504 of the Rehabilitation Act, and the Americans with Disabilities Act, prohibit discrimination in housing and community development programs and activities, particularly those that are assisted with HUD funding. These civil rights laws include obligations such as taking reasonable steps to ensure meaningful access to their programs and activities for persons with limited English proficiency (LEP) and taking appropriate steps to ensure effective communication with individuals with disabilities through the provision of appropriate auxiliary aids and services.
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2022© Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Information deemed to be reliable but not guaranteed. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Only IDX residential listings are displayed on this site. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify perspective properties consumers may be interested in.
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Ed Long - Buyers Representative
Lic. SA699086000
Queen Creek, AZ
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