A mortgage lender in Santa Clarita explains why the real estate market is so “strong” despite the current state of the economy, and what it means for those looking to buy a home.
Dave Cantrell of American Family Funding first expressed his belief that homeownership “will bring this economy back to where we were” in the wake of the coronavirus pandemic.
“The real estate market (is) very, very different from what we had in 2008, where the real estate market was really one of the causes of the recession,” Cantrell said. “This time around, I really believe the real estate market is going to be the thing that pulls us out of a recession because the market is still going strong.”
One of the reasons for this continued strength is persistently low mortgage interest rates, Cantrell noted.
“Anytime you have a lower interest rate, it increases your ability to buy a home as your affordability index goes up,” he said. “You can afford more with lower interest rates, obviously, because it lowers your payment. “
Another reason the housing market has remained strong is the lack of inventory, according to Cantrell.
“If you look at one of these homes that are currently listed, they get multiple offers very, very quickly because there just aren’t that many homes around,” he said. “We don’t have enough as a country. We are about 1 million under-built homes.
Cantrell went on to explain that these two factors in the housing market mean that there will likely be “a bit more of a challenge” when it comes to buying a home, but there are ways to be. competitive with an offer.
“There are different ways to make your offer more attractive,” he said. “Not just, ‘Hey, we’re going to pay some more. Maybe there are other things there.
Ed. Note: This article is a KHTS Community Spotlight for Funding American Families.
American Family Finance a division of the American Pacific Mortgage Corporation NMLS # 1850
David cantrell NMLS # 1427091 – Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.
About American Family Funding, Your Resource for Santa Clarita Mortgages
Santa Clarita Mortgage lender American family financing can help make your dream of homeownership come true. A much appreciated mortgage lender in Santa Clarita, American family financing emphasizes community engagement and is committed to giving back wherever possible. A friendly Santa Clarita mortgage advisor will do it first-time buyer have a simple and stress-free experience, even with bad credit or one low down payment. Unlike some mortgage companies in Santa Clarita or some mortgage brokers in Santa Clarita, the mortgage officers at American family financing also specialize in VA loans, reverse mortgages, refinancing and the STAR loan program. If you’re looking for the best mortgage lender in Santa Clarita or a “mortgage lender near me,” contact American Family Funding today.
American family financing
28338, chemin de la Constellation
Valencia, CA 91355