With the ongoing COVID-19 outbreak, so many are suddenly faced with a new level of uncertainty that has left them wondering what to do next. A fair few find themselves unable to look more than a few days into the future, let alone 24 hours. But we’re here to reassure you the time to act for the future is now.
At Lafayette Lending we understand your worry and concern about how now may not seem like the time to take risks. We assure you though that the time to fix and flip a home is better than ever. Every storm passes eventually, and when it does, the time to buy, redecorate, and increase your chances for success could be better than ever. Here are some of the few reasons fixing and flipping a home could be the right move for you to make, even as the coronavirus situation unfolds.
What Is The Interest Rate On Home Loans Today?
If you have the means and the desire to do so, now would be the perfect time to purchase a home from a struggling owner. As of March 19, 2020, in the peak struggle of the coronavirus, the interest rate for a conventional 15-year fixed loan is 4.5% and with a 4.5% APR, which remains unchanged. A conventional 5-year adjusted rate mortgage has a 3.5% interest rate with a 3.5 APR. Now is the time to buy that house you’ve been wanting to fix and flip!
What Should The Interest Rate Be To Buy A House?
The usual interest rate on a home loan is anywhere between 3.8% and 5%. With the current state of the economy, interest rates are at an all-time low and ideal for purchasing a home. When the COVID-19 pandemic does eventually pass — and it will, because nothing lasts forever! — you can feel confident that you took advantage of a bad situation and flipped it around, literally.
Want To Fix And Flip A Home?
If you feel confident that now is the time to buy homes for a low cost and low-interest rate, contact us now. You can reach your full potential and turn the future around. We can help you finance your new home and make the most of this difficult time so that you come out ahead at the end of the COVID-19 pandemic. Help yourself to feel reassured that you’ve taken the best steps for yourself to succeed by fixing up a struggling home and selling it for more than you bought it for. Apply with Lafayette Lending for financing today.