Tips for Buying a House When Interest Rates are HIGH

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  • เผยแพร่เมื่อ 26 ก.ค. 2024
  • So you want to buy a house now, but you aren't sure if you should buy a house with high interest rates. I'm sharing all of my tips for buying a house with high interest rates to help you save money on your mortgage (and why I think it's a better idea to buy a house than you might think!)
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    ABOUT ME:
    My name is Sean Uyehara, branch manager at loanDepot. And I'm dedicated to helping homebuyers like you get pre-approved on your mortgages across America. Whether you're purchasing, refinancing, downsizing, buying a rental, or even your first mortgage, we got you covered. Specifically, I'm licensed in these states: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Indiana, Nevada, Tennessee
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    The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative. loanDepot.com, LLC. All rights reserved. NMLS ID# 174457 (nmlsconsumeraccess.org). Equal Housing Opportunity. This information is not intended to be an indication of loan qualification, loan approval, commitment to lend, or offer to enter into an agreement. Loans are subject to credit and property approval. Not all customers will qualify. Information, rates, terms, and availability of programs are subject to change without notice. Not all products are available in all states or for all dollar amounts. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. VA loans subject to VA eligibility. Other restrictions and limitations apply.
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ความคิดเห็น • 12

  • @miguelpadilla31
    @miguelpadilla31 ปีที่แล้ว

    Awesome video. Seems more relevant now than just a few months ago. This video should have way more views. Great info!

    • @SeanUyehara
      @SeanUyehara  ปีที่แล้ว +1

      Appreciate you Miguel 👊🏻

  • @itsourlocallife
    @itsourlocallife ปีที่แล้ว

    Lots of great info! 🤙

  • @skymeista
    @skymeista ปีที่แล้ว +4

    Do you have any points on, yes 6-7% is still good cause it was the norm but your buying power is way down so a home that lets say 7 years ago was 250k is now 400k and so that 7% hits way harder. Buying a home seems to be a "what's the monthly payment" question rather than "is my houses total price or interest rate ridiculous". The homes that were 250 @6-7% are now the houses at 400k at the same interest rate and the homes at 250k are... well... not ideal

    • @SeanUyehara
      @SeanUyehara  ปีที่แล้ว +5

      The same person that doesn't like 7% rates today hated them 7 years ago 🤷🏻‍♂. I bought my fist house with a +7% and then loss 30% of my home value. However, I had patience to wait it out and now I'm up +$200K. I didn't buy during ideal times per se. There will never be an ideal time to buy. I can ask the same questions to everyone who's waiting to buy......why didn't you buy in 2011 (when we hit the bottom of the market)? And then, why didn't you buy in 2020 (when we had 2-3% rates)? And there's always an excuse. Don't time the market, buy when you're ready and can afford to get in the game. Don't over complicate the process, tune out the noise.

    • @skymeista
      @skymeista ปีที่แล้ว

      @@SeanUyehara thanks for the encouragement. im actually on this video cause I just finished all the leading pre approval stuff and now about to buy a home. and my realtor actually is getting us a wayyyyy better deal than what the family selling is asking (parents neighbors house. they're talking to us before it goes on the market. asking 380 but prices have all died down in the last 6 months and really should be around 300. just for your info for videos maybe since the east coast holding is a big topic im in north east Florida and prices have been coming down here these last 2 months and by a lot at least in my neighborhoods)

    • @SeanUyehara
      @SeanUyehara  ปีที่แล้ว

      @@skymeista Wow that's a great deal!! Good for you and congrats! If you'd like a second opinion on your loan my team and I are licensed in FL as well. Make sure to get the seller to cover your closing costs as well

    • @skymeista
      @skymeista ปีที่แล้ว

      i’ll let you know forsure & that’s the plan

  • @vicsbudgetbuilds7632
    @vicsbudgetbuilds7632 ปีที่แล้ว +2

    Yes 7% would be low nowadays but prices are skyrockets due to inflation which puts us in a high payment 50 year or even 15 yrs back houses were more cheaper 🤘

  • @JustinFedHR
    @JustinFedHR ปีที่แล้ว +1

    You really think it will be 50 years for it to get back to 3%? What’s your source? 🤔

    • @SeanUyehara
      @SeanUyehara  ปีที่แล้ว +1

      If it wasn't for the pandemic, we would have never had seen rates that low. But if you believe otherwise, I'm all ears