There are a lot of reasons to buy a home, and each person’s motivations are different. Maybe you’re looking for more space, or you want to be closer to family and friends. Perhaps you’re fed up with renting or you want to take advantage of historically low-interest rates.

Whatever your reasons for buying, the free mortgage advisor birmingham at Morfinity suggest that now is a great time to get a mortgage. Here’s why:

1.  Mortgage rates are still low.

While mortgage rates have been rising in recent months, they are still near historic lows. That means you can lock in a low rate today and save money over the life of your loan.

2.  Home prices are rising.

Home prices have been on the rise for several years, and that trend is expected to continue. That means if you wait to buy, you may end up paying more for your home than you would by buying today.

3.  It’s a good time to sell.

If you already own a home and you’re thinking of selling it to buy a new one, now is a good time to do it. Home prices are high, so you can likely get top dollar for your home.

4.  You may be able to deduct your mortgage interest.

If you itemize your deductions on your taxes, you may be able to deduct the interest you pay on your mortgage. This deduction is available for both primary and secondary homes.

5.  You can build equity in your home.

Every time you make a mortgage payment, you’re building equity in your home. Equity is the portion of your home that you own outright and it can be used as collateral for loans or lines of credit.

6.  You can get a fixed-rate or adjustable-rate mortgage.

When you get a mortgage, you have the option of getting a fixed-rate or adjustable-rate loan. With a fixed-rate loan, your interest rate will stay the same for the life of the loan. An adjustable-rate mortgage broker uk birmingham (ARM) has an interest rate that can change over time.

7.  You may be able to get help with your down payment.

If you’re a first-time homebuyer, you may be able to get help with your down payment through government programs like the First-Time Homebuyer Tax Credit.

8.  You can choose a repayment plan that fits your budget.

Mortgages typically have a term of 15 or 30 years, but you can choose a repayment plan that fits your budget and lifestyle. There are even loans with terms as short as 10 years.

How Can Morfitnity Free Mortgage Advisor Birmingham Help You?

The advisors at Morfinity have years of experience helping people get mortgages. We can help you understand the process and find the best loan for your needs.

Moreover, we’ll also help you compare rates and terms from different lenders so you can be sure you’re getting the best deal possible.

If you’re thinking of buying a home, or if you have any questions about getting a mortgage, contact us today as the mortgage advisor birmingham . We’ll be happy to help you every step of the way.