Health & Fitness
More Good News for Laguna Beach Homebuyers
Why are lenders starting to smile again? Ace, One of Laguna Beach best realtors, Hillary Caston explores the new optimism in the home loan industry and what it bodes for buyers.
Congratulations, borrowers! The number of loan delinquencies and defaults is dropping. The buzz in banking boardrooms is becoming more upbeat every day. And that’s more good news for you Laguna Beach homebuyers. That’s right. Obtaining credit to purchase a Laguna Beach home is no longer the Herculean task it formerly was in the not-so-long ago dark times. Now, before you extend outstretched hands for a rainfall of greenbacks, let’s pause for a little reality check. I’m not promising banks will be turning on the money taps full blast. But I am saying that if you’ve got your eye on Laguna Beach homes for sale, you’ll definitely discover more relaxed lender attitudes.
Obviously, the stage is set for a boom in borrowing power. But there’s another layer of icing for this cake -- not only is credit loosening up, it’s available at rock bottom rates! (See table below). But don’t expect these ideal conditions to last forever. The demand for Laguna Beach homes is taking off like a rocket. And you can bet prices and mortgage rates will be racing to catch up. It’s the immutable law of economics. Yes, yes, I’ve predicted a housing surge numerous times before. But now the banks are echoing this forecast. A recent FICO survey revealed that 53.1% of the lenders believe the Orange County housing market alone will experience a surprisingly robust expansion by year’s end. I rest my case.
CONFORMING WITH 20% DOWN
Find out what's happening in Laguna Beachwith free, real-time updates from Patch.
30yr Fixed
5yr Fixed ARM
Find out what's happening in Laguna Beachwith free, real-time updates from Patch.
3.875% - No points
3.00% - No points
FHA WITH 3.5% DOWN
30yr Fixed
5yr Fixed ARM
3.750% - No points
3.125% - No points
JUMBO WITH 20% DOWN (Over $625,000)
30yr Fixed
7yr Fixed ARM
4.875% - No points
3.625% - No points
So the situation couldn’t be better if you’ve got your radar on Laguna Beach property for sale. Right now, you have two major factors working in your favor, loosening credit and low rates. All the forces of nature are in alignment. And that equals EXTRAORDINARY OPPORTUNITY.
If you’re ready to take advantage of loosening credit and low rates to purchase the Laguna Beach home of your dreams, The Coastal Property Experts are prepared to help. Our team will be happy to answer all of your questions and help you discover the wealth of opportunities waiting for you in the Laguna Beach real estate market. Contact us today to schedule a private appointment.
