Why NOW Might Be The Best Time To Purchase A New Home

Every era offers unique opportunities in the housing market, but the current climate provides an exceptional chance for prospective homeowners; while there is a lot less traffic than the buyer frenzy of the past couple of years, there are still a lot of buyers looking to purchase homes right now. The job market continues to grow – new jobs in April were stronger than expected. Unemployment is also at an all-time low. This allows buyers with a stable income to purchase.

The U.S. Census Bureau reported that the homeownership rate in the U.S. has been on a steady incline, reaching 65.3% in 2023. This positive trend signifies the overall affordability and accessibility of homeownership, showcasing an appealing opportunity for prospective home buyers.

Why now? Here are a few reasons why buying now might make sense for you.

Rental.com states that the US rental market experienced an increase in rent for the eighth month in a row. It is 25.7% higher than the same time in 2019.
Space might be a deciding factor. The cost difference between renting and owning might be more affordable if you require 2 or more bedrooms.
Homeownership allows you to start building your own equity and not someone else’s.

There are some things to keep in mind during this real estate climate. It’s clear it’s a seller’s market. We are seeing buyers waive mortgage contingencies, inspection contingencies, and sometimes even making cash offers. This is where our team at Poli Mortgage Group, Inc. comes in. With an ethos of delivering personalized, quality service, we make your home-buying process a breeze.

Poli Mortgage Group, Inc. is able to get your loan fully approved in less than 24 hours. We make a commitment to lend, subject to the property. We want to ensure that your offer gets accepted and makes the seller feel comfortable, knowing they are issuing you a letter stating you have gone through the underwriting process. We can close in as little as 2 weeks if you require it.

In conclusion, your pathway to homeownership is smoother and more advantageous than ever before. By partnering with Poli Mortgage Group, Inc., you can navigate this journey with confidence. Our dedication to quality service and competitive rates make us a reliable guide in your quest for a new home.

If your time to purchase a new home is now, Poli Mortgage Group, Inc. is ready to help. Call us directly at 781-253-8639 to start your journey towards homeownership today. The future of housing is bright, and it’s the perfect time for you to be part of it.

Questions about the numbers you see or would like to get started on your purchase?

Contact us today and let one of our mortgage experts guide you with your specific situation!

Next Step

Get Pre-Approved

Getting pre-approved is the first step in buying a home. By getting pre-approved, you can:

Focus on your home search, knowing your financing is in Poli’s expert hands.
Find out exactly what home price you qualify for and shop with comfort
Improve your chances for homebuying success, since sellers heavily favor offers with pre-approvals from reputable lenders.

Wondering What Your Rate Could Be?

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Poli Mortgage Group is a Division of radius financial group inc. Corporate NMLS #1846. radius financial group inc. is an Equal Housing Lender. Poli Mortgage Group is licensed in CT, DC, FL, ME, MD, MA, NH, PA and RI. For more licensing information please visit: https://polimortgage.com/licenses/ or by visiting www.nmlsconsumeraccess.org. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs rates, terms and conditions are subject to change and are subject to borrower qualification. This is not a commitment to lend. The content in this website has not been approved, reviewed, sponsored or endorsed by any department or government agency.

* This radius Pre-Approval/Credit Commitment Promise Contract ("Promise") is made and entered into, as of the date of the last signature below, by and between radius financial group inc. ("radius" or "Lender"), and the below-named Buyer and Seller. In consideration of Seller's reliance on this Promise in entering into a real estate purchase transaction with Buyer, the Parties agree as follows:

PROMISE TO SELLER. In the event that a Seller is induced to accept an offer from, and enter into a purchase and sale agreement with, a radius borrower on account of this Promise in connection either with (a) a radius Pre-Approval or (b) a radius Credit Commitment and the Buyer is unable to close on such Eligible Transaction due to a mistake made by radius (with accurate and up-to-date information) on such Pre-Approval/Credit Commitment (a "Bad Pre-Approval"), then radius shall pay Seller ten thousand dollars ($10,000), subject to the terms and conditions herein as Seller's sole remedy.

PROMISE TO BUYER. In the event that radius issues a Bad Pre-Approval to Buyer on an Eligible Transaction, radius will reimburse Buyer reliance expenses up to one thousand dollars ($1,000) for a home inspection, appraisal, or legal expenses actually paid out-of-pocket by Buyer, subject to the terms and conditions herein. This payment shall be Buyer's sole remedy.

ELIGIBLE TRANSACTION. For purposes of this Promise, an "Eligible Transaction" is a purchase money mortgage transaction for a primary residence (made on or after April 1, 2018) (not made to a radius employee or immediate family member), provided that the loan is a Conventional, USDA, VA, or FHA loan product for either (i) an existing home resale or (ii) a newly constructed home that is to be delivered and closed within ninety (90) days of the P&S.

CONDITIONS. The applicable radius Pre-Approval must not have expired prior to the date of the P&S. Offers/P&Ss cancelled due to home inspection issues or title defects are not covered under this Promise, and this Promise is void if a Bad PreApproval is the result of: (i) a change in Buyer's financial position, (ii) property specific requirements or expenses (e.g. homeowner's association dues/fees, flood insurance, or property taxes), or (iii) loan product availability or underwriting requirements, or third-party actions outside of radius' control.

FUNDS DISBURSEMENT. Any funds due and payable under this Promise will be paid if requested by Buyer or Seller in writing within 90 days of the date of an applicable Adverse Action Notice and accompanied by a fully-executed copy of this Promise. Any payments made under this Promise will be reported to the Internal Revenue Service by radius on a Form 1099-MISC or as otherwise required by then-applicable law. Please consult your tax advisor for any tax implications.