Higher Interest Rates and New Lending Options in the LBI NJ Real Estate Market
Rising Interest Rates in the Long Beach Island NJ Real Estate MarketLong Beach Island NJ Real Estate
The LBI real estate market has, even in the wake of Hurricane Sandy, remained an area of intense activity with buyers and sellers both being very active. One key contributing factor to this activity level was the historically low interest rates lenders and mortgage companies were able to offer. As the economy starts to show improvement and quantitative easing seems to be inevitable, the Long Beach Island area and the LBI real estate market must contend with Rising Interest Rates in the Long Beach Island NJ Real Estate Market. While Rising Interest Rates in the Long Beach Island NJ Real Estate Market will surely drive some buyers out of the market, it does offer some opportunities in the LBI real estate market.
Mortgages, Lending Options and the LBI NJ Real Estate Market
It is an undoubted fact that interest rates have an impact on the LBI NJ real estate market or any real estate market around the country. As interest rates increase, the amount of house a buyer can afford goes down. These two components are related and have an impact on the Long Beach Island NJ real estate market as a whole. Still Rising Interest Rates in the Long Beach Island NJ Real Estate Market has opened some new opportunities in the lending community such as:
- More relaxed (but still regulated) lending rules in the LBI real estate market
- Quicker turnaround on loans made on Long Beach Island
- The return of some lending products such as stated income loans that offer new buying opportunities in the Long Beach Island NJ Real Estate Market
A stated income loan is particularly enticing for a self-employed borrower and will require a higher down payment. Options such as a stated income loan in the LBI real estate market should open up the market to some new buyers who may have otherwise been unable to purchase in the Long Beach Island NJ real estate market. Likewise, Rising Interest Rates in the Long Beach Island NJ Real Estate Market have made available more products such as renovation and construction loans which can be particularly helpful when buying storm damaged homes in the LBI real estate market.
Buying and Selling in the Long Beach Island NJ Real Estate Market
If you are considering buying or selling in the Long Beach Island NJ real estate market, it is important to understand how Rising Interest Rates in the Long Beach Island NJ Real Estate Market will impact your ability to complete a transaction in the LBI marketplace. If you would like more information about Rising Interest Rates in the Long Beach Island NJ Real Estate Market please do not hesitate to contact me, Nathan Colmer, with any questions and I will be happy to help! You can also click here to search all homes for sale in the Long Beach Island NJ real estate market.
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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