Chicago Mortgage Rates Drop for New-Home Buyers – See the Data
A lot of homebuyers are missing a big opportunity in today’s housing market: newly built homes. Right now, there are more new homes to choose from. And as a result, some builders may be more willing to negotiate on price. Many are even offering better mortgage rates, too, via something called mortgage rate buy-downs. In Chicago, this could mean securing a Lower Mortgage Rate than you’d find with an existing home. This graph shows that buyers of newly built homes got a mortgage rate around half a percent lower compared to those who bought existing homes. That means you could find a great home with a lower mortgage rate, and that might make your monthly payment more manageable than you expected. If you haven’t considered a newly built home yet, what’s holding you back?
Let’s talk and see if checking out new construction could be the right move for you. KM Realty Group LLC 111 N Wabash Ave #1734, Chicago, IL 60602 Phone: (312) 283-0794
