Top 5 house-hacking deals a first time homeowner could score: October 2022, Utah County
By AJ Griffin, Realtor, 435-619-3465, ERA Brokers, GreatWesternUtah.com
How to buy your first home?
While interest rates are hitting levels not seen in years, borrowing rates have finally cooled an overheated housing market and created conditions where buyers can get in homes without bidding wars and forfeiting safeguards like inspections and due diligence periods. For the first time in at least 2 years we are seeing homes stay on the market and prices drop. While the interest rates can make for intimidating payments our team can help you with important tools like seller paid closing costs, seller paid concessions used to fund 2-1 buydowns, rate buydowns and utilizing 7-1 adjustable rate mortgages. (these are all fancy talk for getting your monthly payment down). At a later time when we hope rates dip again, prices will rise and but if you’re already in the home refinancing can make your home purchase into a stellar deal in retrospect. Date the rate, marry the price!
Here are my top 5 picks for properties on the market right now for a first time home-buyer!