It’s been a month since the Brexit vote and, as we reported initially, Miami home loan interest rates have continued to decline.
Just this week we reported how we now have a new conventional home loan interest product with 1% down payment, up to $417,000 loan as long as your total debt service ratio is no more than 46% and your FICO credit score is over 700.
These numbers are unheard of post the Great Financial Recession of 2009. If you have not yet acted, NOW is the time to purchase or refinance your home in order to lock-in these low rates before they increase.
As you very well, the Fed’s actions are unpredictable from meeting to meeting, so home interest rates could very well rise at any time without prior notice.
The Miami housing market continues to sizzle despite other major metropolitan home areas nationwide showing signs of slowing. We are not only fueled by locals interested in buying, selling and refinancing, but we have a large tourist population making Miami a second home. Our international foreign buyer base is also strong seeking a secure harbor to park their capital given uncertainty in other global markets.
I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami, Florida home consultant. Our office specializes in both residential and commercial real estate and financing programs. We help you secure conventional, jumbo, FHA and foreign national mortgage loans. We can also help your elderly parents secure a comfortable retirement with a reverse mortgage. Call me today at 305-598-1600.