Speak with a Director of Finance
909-587-5185For many dreaming of their own slice of real estate, the idea of waiting for those mortgage rates to dip into the dreamy 6% or even 5% range can feel like the ultimate money move.
But hold on a sec—does the waiting game really pay off when it comes to buying your own home?
Okay, let’s break it down. Sure, lower rates can mean big savings. Picture this: a 1% drop in rates on a typical home with a 20% down payment might drop your monthly payment by over $430. Sounds great, right?
But there's a potential challenge that may lie ahead: you won’t be the only one eyeing those lower rates.
Think of it like this—when rates drop, more buyers hitting the market means more competition for fewer houses. And when demand skyrockets and supply takes a nosedive, bidding wars erupt.
Suddenly, those lower rates might not save you as much as you’d hoped as prices shoot up.
Remember those wild times not long ago when everyone was scrambling for homes, and prices were sky-high? Well, that might just happen again.
So, if you’re ready to tackle homeownership, don’t get too caught up in waiting for rates to drop. Timing the market isn’t everything. It’s about being smart with your cash and being ready to handle the responsibilities that come with owning a home.
But if you’re in a good place financially, now might not be a bad time to start looking around the market.
And here’s a little secret: if you buy now and rates drop later, you can always consider refinancing your mortgage. It might cost a few bucks, but the potential savings could be worth it.
Regardless of when you make your move, preparing is key. Work on your finances, improve that credit score, trim down debts, and save some cash for that down payment.
Check out homes, neighborhoods, and get a feel for the market. And of course, get pre-approved for a home loan so you're ready to make an offer when the opportunity arrises.
Address:3200 E Guasti Rd. Suite# 100
Ontario, CA 91761
Phone: 909-587-5185
Fax: (888) 958-6415
© Copyright 2015. All rights reserved. Legal | Privacy Policy | Site Map
Powered By LenderHomePage.com
Capital United strives to ensure that its services are accessible to people with disabilities. Capital United has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Capital United makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows www.capitalunitedbanking.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
Capital United accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Capital United continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Capital United website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Capital United website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: Info@capitalunitedbanking.com
This site uses cookies to process your loan application and other features. You may elect not to accept cookies which will keep you from submitting a loan application. By your clicked consent/acceptance you acknowledge and allow the use of cookies. By clicking I Accept you acknowledge you have read and understand Capital United's Privacy Policy.