Memorial Day/Weekend 2018 is behind and the Summer buying season is upon us!
We have a lot going for our Real Estate market here in Lake Tahoe, it’s beautiful of course, there is plenty for the whole family to do whether vacationing or if this paradise happens to be home, and though interest rates have risen noticeably since the beginning of the year rates still remain historically low right around the 5% range for most conventional loan products excluding investment properties.
Lenders broad based have loosened guidelines in the last year along with minimum down payment requirements making it a lot easier for buyers to qualify and come up with down payment requirements. Owner occupied purchases can get in with as little as 3.5% down and in some cases with NO money down. Second home buyers can purchase with as little as 10% down, and investment property buyers with as little as 15% down!
The Federal Reserve Bank meets later this month where we expect to see them raise short term rates by another .25% but most likely we will see little to no impact through the Summer to longer term mortgage interest rates.
I am available by phone and email this weekend and every day should you need a lender!
I look forward to the opportunity to work with you!
Leave a Reply