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Lending | Property Talk with Strong Will Real Estate Blog

Wednesday, January 26, 2022   /   by Brian Armstrong

The Real Estate Pandemic 2021 vs 2022

We are living in a unique era of real estate history in Vermont. Covid-19 has dominated the real estate market for two years, and it continues to impact the value and supply of homes across the state. If you tried to buy a home within the last two years, you know the forces you are up against. However, there are still opportunities, and many homes are still going under contract. Uncover the factors driving market challenges for buyers, and the likelihood of it letting up in 2022. 
 
Mortgage Rates
Mortgage rates were low in 2020 and have continued to fall even lower through 2021. Record low rates have driven more buyers into the market, even though it has remained strained with inventory shortages from 2020. The pandemic has created uncertainty, but the overall interest in homeownership steadily increased as other spending decreased across the economy. With that said, indicators show that interest rates may rise from these record lows in 2022, slowing the rush, and allowin; ...

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  real estate, strong will real estate, vermont, chittenden county, keller williams, burlington, northwest vermont, buyers process, first time buyer, homebuying, interest rates, commercial real estate, investment properties, lending

Wednesday, November 24, 2021   /   by Jordan LaFond

How Interest Rates Affect Your Buying Power

As you think about making a home purchase, whether it is your first home or one of many, you need to consider what type of home you can afford. Most homebuyers choose to finance a portion of their purchase since many Americans do not have the cash to buy a home outright. From market dynamics to interest rates, many factors contribute to the type of home you can finance. So, what exactly is buying power? Buying power at its roots is the available money you have each month to put toward a mortgage after your other debts have been paid off (i.e. car loans, student loans, rent, etc.) Keep in mind that your buying power focuses on more than just the sale price; you also need to factor in taxes, insurance, repairs, and other expenses related to owning a home. 

Determining Your Buyer Power

Determining what you can afford from a lending perspective is based on many considerations. Gross income, debt, assets, credit score, and interest rates are the key factors your lender will look ; ...

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  real estate, strong will real estate, vermont, chittenden county, keller williams, first time buyer, buyers process, homebuying, curb appeal, interest rates, lending

Strong Will Real Estate at KW Vermont
Brian Armstrong
68 Randall St
South Burlington, VT 05403
802-735-2167

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