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.
Learn The Money-Saving Secrets of 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 2019 show that the homeownership rate was a staggeringly high 64.8%, 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?
2 Ways to Use Your FHA 203(k) Loan
Buy a Fixer-Upper (and Fix It Up)
Or... Renovate Your Current Home!
Angeline Starling is absolutely incredible at what she does! Her 20+years of experience in this industry really shine through; she knows the ins and outs of every step of the process and helped us navigate the sometimes-overwhelming aspects of refinancing with ease. Her work ethic is unmatched - she worked around the clock to ensure timely responses and service. She was always available to answer any questions and was very proactive in obtaining the best possible outcome for us. On top of being so knowledgeable and professional, she is an absolute joy to work with! She is so friendly and warm and instantly put me at ease. I recommend her and the Halo Team to everyone I know and will continue to do so.- Andrea P.
From the beginning of the home buying process, Angeline went above and beyond in helping my husband and I. Even during a global pandemic she did an exceptional job! Home buying can be tricky, so my husband and I had a lot of questions along the way - Angeline answered them quickly and with clarity, and she was very open and honest about everything in the process. As first-time home buyers, we are so pleased with the way everything was handled from start to finish and I am very happy we chose Angeline and the Halo Mortgage team to help us!- Sara M.
Angeline and Candler were absolutely amazing. They completely walked us through our entire loan process, as well as answered any and all questions regarding the purchase of our home. As a first time homebuyer, we had a lot of questions and concerns, but the team at Halo Mortgage were very patient with us and they thoroughly explained everything along the way. They made the home buying process a breeze and I cannot thank them enough for all their help. I will be without a doubt be using them again in the future for my next home purchase. 10/10 would recommend them to all my friends and family!- Alice P.
There are so many great things I can say about Angeline. She gave me hope when there wasn't any left. The home buying process was stressful for me. It was my first time purchasing and the things I like were not in my budget. Angeline was honest and professional. She didn't give me any false sense of hope. If you're looking for someone who is dedicated to making your dreams come true, Angeline is the person for the job. I can't say it enough, I truly appreciate everything and all the hours she spent working with me. I highly recommend Angeline; you won't be disappointed.- Kim R.
Angeline was extremely professional. I had many issues trying to get this loan. Angeline went over and above even calling me at night and weekends. She is the best.- Linda R.
I have used Angeline several times for mortgages and refinancing and she is the best I have worked with. She is extremely knowledgable and has always been willing and able to help me work thru options to maximize my results.
I stongly recommend her to anyone looking for a refi or mortgage.- Bob S.
Your Renovation Wish List Could Include...
Increase window size
Bring in more natural light
Finish a basement or attic
Create a mother-in-law apartment or guest space
Correct foundational issues
Protect your investment for the long-term
Add a detached garage when one does not exist
There’s room for everyone
Knock down walls
Open up the floor plan to create versatile, welcoming spaces
Flood-proof your property
Add a retaining wall to prevent expensive damage
Repair the pool
Tired of leaks and cracks? Fix the pool & start enjoying it
Expand or refresh the kitchen
Cooking is just more fun in an updated kitchen
Add square footage
Growing your family? Grow your home alongside it!
After remodeling, 74% of owners have a greater desire to be in their home, and 65% have increased enjoyment in their home.
How Does a Renovation Loan Work?
Depending on the types of repairs you plan to do, you have two options when it comes to securing a FHA 203(k) Renovation Loan: Limited and Standard.
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?
Although every situation is different, low interest rates tend to mean generous financing terms for people taking on a home mortgage. Having a mortgage with low fixed interest rates, for example, can be a powerful hedge against inflation in periods of higher inflation—where in the interest rates are typically higher. But we should reiterate that every situation is different, and you should do what’s best for your situation and your own family.
What is the next step?
Click through our buttons above to find out whether you qualify for great terms on a new home purchase!