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School Reports in Fort Collins, Wellington, Loveland and Windsor, Colorado
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Real Estate Tips

Financing Your Home >When Interest Rates Rise

Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Real Estate Trivia

Q 
Which famous skilled mason laid the cornerstone of the Capitol Building in Washington, D.C. in 1793?

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George Washington, the first President of the United States.
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Jennifer Kelly, REALTOR®, real estate agent and broker for Fort Collins, Wellington, Loveland and Windsor, Colorado home listings, property and land for sale - NUMBER1EXPERT

Jennifer Kelly
RE/MAX Alliance

4703 A Boardwalk Drive.
Fort Collins, CO 80525
Cell: 970-581-9005
Direct: 970-206-8247
FAX: 970-225-0118
jenniferkelly@NUMBER1EXPERT.com

You are important to me and I am passionate about real estate!! I love helping buyers, sellers, investors, and those in a distressed situation get RESULTS!!! I recognize the huge value the internet plays in the real estate market today. Therefore, my marketing efforts for my Buyers/Sellers rely heavily on links with 25+ on-line real estate resources -- helping both Buyers and Sellers achieve their real estate goals! I enjoy real estate and would welcome the opportunity to help you and your family to meet your real estate objectives. Contact me TODAY!!

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