Mortgage Interest Rates Plummet! - Here’s How to Get Your Rate Even Lower

[@jasminesession7313]

So knowledgeable! I can’t wait to use you as our realtor when we are ready to purchase!

[@zakschmidt-DallasTXrealestate]

Awesome! Thank you! Can’t wait y’all!

[@QuentinHugee]

I wanted to know if you heard anything about naca and the new policy they’ve implemented. Is there truth that buyers can no longer sell the home after 5 years ? They hold a lien on the home for the life of the loan ?

[@cfoster6804]

Why are the most helpful people never in my state.😖 Two questions for you. Have you talked about the new way realtors are now compensated by the buyers? Also, do you have a video going over just buying a lot in a development? We want to buy a lot now and build later. The developer does allow this. Most of the videos i find are about buying raw land. Just looking at 2 acres, completely wooded with tall trees, and a river runs across the back property line. All utilities ready to be tapped into but it is in a flood zone because of the river.

[@zakschmidt-DallasTXrealestate]

Thanks. 1. I havent done anything on that yet. I do have that conversation with clients as part of our onboarding process. In doing a ton of New construction as of now a lot of builders are continuing to keep that built in as it is usually part of a marketing budgt and here in texas they are not regulated by the texas real estate comission. 2. I dont have much content based around that idea as i dnt have many people that do it. Usually they are buying from a builder that expects to build the home. I have seen where they do bring your own builder but I do not do a ton of that. On somethign like that just make sure you have an accurate survey so you know what is flood plane and what isnt so you can build accordingly. That may cause the need for a little bit of build up of the home pad. But bringing in an experieced builder that can GC the project should be able to help with all of that.

[@lacednationTV]

Where can I get this calculator your using

[@zakschmidt-DallasTXrealestate]

That’s an app called palm agent. I pay for it through my title company.

[@judgejlo]

I have new construction closing early next year. On average what is the latest I can get my rate locked in? I anticipate rates will only go down not up before we close so the longer I can hold the better for us it seems.

[@zakschmidt-DallasTXrealestate]

Ideally the lender is going to want that locked about 30ish days prior. They should be watching and monitoring that for you so you can get a good rate.

[@virginiaescalante2520]

You need to add that the rates are only for a couple of years. The earnest money is way higher. A lot of new builds are not dropping the price that affects their sales. And again only the lender can give more accurate numbers

[@zakschmidt-DallasTXrealestate]

In some cases they are temporary buy downs which I talked about, however most of what we are seeing right now is a permanent buy down rate. Which lives for the life of the loan. There are options that fit the needs of each scenario at hand. Maybe the earnest money is higher but it’s all dependent on builder. I’ve been apart of 5 contracts in the last week which all had earnest money deposits ranging from 5000-17000 depending on the price of the home. And in the higher case it wasn’t all due at once. Again all negotiations If you know what you’re doing. And again they are dropping price in certain circumstances. 3 of those five in the last week were builder inventories and all of them dropped price at least another 5k off what was advertised plus we still had closing incentive monies to use. The other 2 were builds which again we negotiated for more towards design and closing costs. Pretty sure I was clear that this was just an overview in the video to help give an idea and most accurate numbers would be with a lender. Maybe you’ve had different experiences but this is based on my lived experience everyday in this market and what we are doing with our clients.