Stable Rates & Smarter Financing Strategies
Written by Samantha Scherr | VP of Mortgate Lending with Origin Point
The outlook for mortgage rates remains relatively stable for the rest of the year. While inflation remains a concern, slower economic growth could limit the need for additional rate hikes. Meanwhile, housing activity is improving, with purchase applications up 4% and refinance activity up 20% compared to a year ago.
Many luxury homebuyers have significant assets but may not show enough taxable income on paper to qualify with a traditional bank. In these situations, banks often suggest putting more money down to qualify.
Selling investments to increase a down payment can trigger unnecessary capital gains taxes.
Some lenders offer an alternative by allowing buyers to use their investment assets as qualifying income—without liquidating those accounts. This can help buyers qualify for the home they want while preserving their investment strategy and avoiding additional tax consequences.
If you're considering a luxury home purchase and have substantial assets, there may be more options available than you think! Get in touch with me and I'll be happy to walk you through the best options for you!
Samantha Scherr | 310.968.4046 | [email protected]
