Real Estate - Don't give up your 3% interest rates!

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Издатель Apr 21, 2024

I’m gonna be the first to say this but do not listen to anyone who tells you not to sell because you have an interest rate of 3% or 2.5%. Unless this person is actually paying your mortgage.

If you are one of the thousands of people who bought or refinanced 3 or 4 years ago and your rate is 2.99%... or 2.5%.... That’s amazing, BUT if you’re like so many of us— you’re ready to upgrade your home and your low interest rate is holding you back.

There is a time however when it makes sense to sell and not keep a home that’s no longer serving you just for the interest rate.

Just remember: you have OPTIONS. You can take out a HELOC (Home Equity Line of Credit), use that for your down payment, keep your house and rent it out. Or you can sell. You’ve probably have enough equity to upgrade! There’s even homes out there where you can assume the sellers loan at those low rates!

If you’re in this same situation- I encourage you to decide what your 2-3% interest rate is worth for you. If it’s worth it, stay in your home! If it’s not, now is the time to make a few sacrifices for the happiness of your family and your heart