For the first time in a long time, buyers are reclaiming their hand in the real estate market. There are several factors that make this an ideal time to pursue your homeownership dreams. However, we understand that prices, rising interest rates, and inflation may be making you feel paralyzed when shopping for a new home.
And who could blame you?!
Sooo… let’s talk about the elephant (or really rather elephants) in the room when it comes to the current state of the real estate market.
Get Your Best Rate
Disclaimer - Jenuane reserves the right to make changes in price, promotions, material and home specifications without notice or liability for such changes. Renderings are for conceptual purposes only. Check with the sales agent about interior options, upgrades, and finishes. Broker cooperation is welcome.
For a limited time, when you use our preferred lenders, enjoy our weekend specials with below market interest rates and prices starting in the high $300s.
2023 has seen a steep increase in interest rates reducing buying power and forcing sellers to significantly reduce prices. The results are more great deals. Add in Jenuane Communities' Rate Buy Down program and you get the best of both worlds. What do you think?
It’s important to consider that locking in an attainable rate can help you make your dreams of homeownership a reality now.
It’s important to remember that even though rising rates mean lower prices, there won’t be a crash in 2023. In fact, waiting for more favorable conditions could leave buyers missing these great prices altogether due to inventory shortages.
Date The Rate,
Marry The House
You may have heard the saying, "date the rate, marry the house" and in this market it couldn't be more true. These prices won’t last long! So while trying to wait for a lower rate, you could miss a great price.
You Won’t Find A Shortage
Of New Homes Here!
Jenuane is committed to building high-quality homes and helping Northern Nevada families realize their dreams of homeownership. That means building and keeping an inventory of homes available despite local inventory shortages.
Looking For A New Construction Home Without The Wait?
Jenuane has quick delivery homes available now!
Experts predict that these favorable circumstances won't last long! Therefore, homebuyers need to take advantage of the current situation before it’s too late! With low prices, low inventory, and the potential for long-term gains, now is the perfect time to make your move.
A Challenged Market is the Wrong Time to Buy a Home.
It's Actually The Perfect Time to Buy! Why?
Sellers are offering better deals.
You avoid bidding wars.
More inventory options to choose from.
And Jenuane is buying down rates!
Understanding The Many Different Loan Programs Available To You:
Traditional 30-year Fixed Mortgages
This is the most popular type of mortgage. This type of mortgage is paid off over 30 years, and the interest rate never changes unless you refinance.
An FHA loan is a government-backed mortgage loan that can allow you to buy a home with looser financial requirements, including a lower down payment. An FHA loan does require you to carry PMI - private mortgage insurance through the length of the loan. You may qualify for an FHA loan if you have debt or a lower credit score. Plus, due to recent changes to regulations, this may be an even more affordable option in 2023.
Also backed by the government, VA loans benefit active-duty and veteran military service members and spouses. These loans require $0 down.
Can I Buy My Rate Down?
Yes, with interest rates on the rise due to inflation, there is something you can do to ensure that your mortgage rate is as low as possible. Mortgage rate buy-down programs are designed to lower interest rates for either a period of time or the entire term of your loan in exchange for a small upfront fee, known as mortgage points. The amount you pay depends on the amount you take out for the loan. Each mortgage point is equivalent to about 1% of the entirety of the loan amount.
What is an Adjustable Rate?
An Adjustable Rate Mortgage (ARM) is a home loan that allows the interest rate to adjust over time. This means you can lock in your starting interest rate for a period of time, and in the case of the 7/1 ARM, that period is seven years. With a 7/1 ARM, the 7 in 7/1 means your mortgage rate stays fixed for seven years. After that, the interest rate adjusts once yearly based on the index stated in the loan agreement.