Finding A Place To Call Home During A Pandemic

No one knew a year ago that the entire world would be turned upside down. And I am sure, there are not many that thought a year later we would still be sitting in the same situation in America that we were one year ago. That being said, it seems as if our housing market has just boomed. Buying a house is stressful no matter when you are buying. When my husband and I were looking into home buying, we spent almost nine full months on the search for our forever home. As I sit now and watch family and friends trying to find their first home, I see the frustration in their faces on how to find the right home. Without spending well above asking price.

When buying a house, you have to think of a lot of different things. Is this house going to suit your needs? Is it going to be in an area you want to be in long term? And one of the biggest questions: Can we/I afford this home? That was a the question that really seemed to stress me out the most. Trying to figure out what type of mortgage payment that will work for your budget can be very stressful, but is also so important when buying a home. With Mortgage Calculator you are easily able to check what the price is going to end up being for you to buy a home. It will ask you a few simple fill in the box numbers to calculate the information more accurately than what you typically can do on paper yourself. This really can help before you even go out and about into open houses and on your house search for you to know if you are looking at a home in your budget or not.

It is more important now more than ever that if you are looking at homes to buy, you know exactly what you are able or willing to spend on the house you are looking at. Through out the pandemic, interest rates have gone down. This is making it so many people are out buying their first homes, or even multiple homes to use as rental properties. Which means, you need to be quick, swift, and know exactly what you want in the end. The bidding wars are through the roof right now. And not being prepared may make you lose your dream home.

According to the Mortgage Bankers Association, “Mortgage credit availability remained unchanged in February according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.”

These are close to the lowest levels since 2014. With the housing market being is such strong shape heading into spring. There has been a large growth in sales of new and old construction,  and many new applications. And with the government credit supply increasing in the past six months, even in small increments. This also adds more obstacles for many first time home buyers who are already having issues finding affordable housing. Making it even more important to use a Mortgage Calculator to help them figure out exactly what their budget can allow.


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