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August 31, 2022

Combatting the Fear of Interest Rates: Why Now is Still a Good Time to Buy

For more than six decades, our team at Sandlin Homes has experienced every fluctuation in the market while continuously bringing high-quality homes and exceptional communities to the Dallas-Fort Worth Metroplex. We know that today's market is all about affordability and interest rates, and through our staggering experience and exemplary reputation—we understand the hesitations that homebuyers may be facing. Although the headlines and misconceptions might make it seem like interest rates are higher than usual, if you look at all the options available, you’ll find that now can still be a great time to buy—especially when you work with a trusted, established builder like Sandlin Homes.

Addressing interest rates

As of lately, the housing market has been highly competitive throughout the country, as a large number of individuals are either looking to move out of the crowded city areas and into a slower-paced environment, or are simply looking to move into a larger home in order to accommodate the new requirements we need our homes to meet—such as a home office, additional bedrooms or a tight-knit community atmosphere. This skyrocketing demand quickly led to higher mortgage interest rates to address inflation—and it doesn’t appear that the buyer demand will slow down anytime soon. 

With that in mind, waiting for the market to drastically drop back down might not be realistic if you’re hoping to move into a new home soon—but it’s important to know what you can afford and how to overcome these rising rates as a buyer. With rent prices constantly increasing, buying new is still an incredible long-term investment that provides a plethora of benefits for the present—and the future. In fact, the market has seen a slight drop in interest rates over the past couple of weeks, and with additional factors such as your credit score or down payment amount playing a part in your monthly payments—you’ll easily be able to find a monthly mortgage rate that aligns with your budget. 

Why now is still a good time to buy

Buying a new home—in any market—is likely the biggest investment you’ll ever make and a  highly personal decision. With a purchase this big, it’s crucial to understand the current market conditions and the astigmatisms about soaring rates being higher than ever before. Although mortgage interest rates have increased, they’re still considerably low compared to historical records. The current mortgage rates—which are around 5 to 6%—are still below where they’ve been at any point before 2009. In the 1990s, rates ranged between 7% and 9%, and in the 2000s they typically fell between 5% and 7%.

Additionally, homeowners are making a smart, long-term investment and increasing financial stability by making the decision to purchase a home right now—specifically in the categories of building wealth, equity and an overall thoughtful financial decision for their future. The fact is, trying to time the market or predict what might happen next year is not the best homebuying strategy—because the market has proven itself to be very erratic. Instead, it’s better to buy based on your budget and needs, which means if you come across a home you love in a great area that aligns with your budget and checks off all of your boxes—then it’s best to take the leap and buy it now. 

How Sandlin Homes can help

To help ease your hesitations about buying a new home in today's market, it’s essential to choose a trusted builder who is dedicated to exceeding the expectations of every single customer—and there’s no better builder to trust than Sandlin Homes. The housing market is constantly changing, but the emotional and financial benefits that come from purchasing and owning your own home will always remain at the forefront of our mission—which is why we’re currently offering a rate buydown incentive to help increase your peace of mind.

Through this program, you can lock in a 4.99% (conventional) or 4.25% (FHA) rate on select move-in-ready homes when you close before October 31 and use our preferred lender*. Additionally, you’ll receive 5K your way to use as you choose—whether it’s toward closing costs, blinds, appliances or price reduction. This incredible opportunity only adds even more to the reasons why now is a great time to buy—and why Sandlin Homes is the right builder for you

To start the exciting journey to your forever home in a Sandlin community, be sure to browse through our quick move-in homes across our highly-desirable neighborhoods—and for any questions or additional information about our rate buydown, we’re just a phone call away, so don’t hesitate to give us a call at (800) 821-4663 or contact us online at any time.

*Offer Available When You Sign A Purchase Agreement With Sandlin Homes On A Select Market Homes In Dallas-Fort Worth Between 07/28/22 – 09/31/22 And Close By 10/31/2022. Requires Financing Through Lifestyle Home Lending, LLC. The Loan Must Obtain An Automated Approval With A 740 FICO, Primary Residence With A Minimum Of 5% Down Payment For A Conventional Loan With An APR (Annual Percentage Rate) = 5.536%. Or An Automated Approval With A 660 FICO, Primary Residence With A Minimum Of 3.5% Down Payment For A FHA Loan With An APR (Annual Percentage Rate) = 5.710%. This Is Not A Commitment To Lend, Availability Subject To Change Without Notice Or Prior Obligation. See Community Sales Manager For More Information. Sandlin Homes & Lifestyle Home Lending, LLC Reserve The Right To Change Or Cancel This Promotion At Any Time. All Loans Subject To Credit Approval. Rates And Fees Subject To Change. Equal Housing Lender. Exclusions Apply. This Is Not An Offer Or Guarantee Of Program Eligibility. All Rights Reserved. Lifestyle Home Lending, LLC (NMLS: 1882702).

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