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Should I Buy a House Now? 

Have you been considering whether now is the time to buy a house? If so, you’re not alone.

We understand buying a house isn’t a decision to take lightly. You may be asking yourself Can I afford it? Am I ready? Is now the right time given the big jump in interest rates?  

If you’re in a position to buy, now is as good a time as ever, even as mortgage interest rates continue to rise. Why do we say that?  We understand that it is jarring for home shoppers to see interest rates, which have been historically low for the last decade and a half, increase as quickly as they have this year.  However, although most of us have gotten used to seeing rates in the 3-4% range for mortgage loans, rates are just now back to what used to be thought of as normal for mortgage interest rates. 

Undoubtedly, higher rates do impact the size of the loan that you can afford and consequently the price and size of the house.   Ever wonder why homes built in the 70s and 80s were so much smaller than the ones built today?  A big reason is that interest rates for homes during that time were in the double digits, reaching as high as an average mortgage rate of 18.45% in 1981!  

Another question to consider is how high rental costs in your area are.  Does it make sense to rent for a while and wait for rates to come down or will my mortgage payment be close to what I would pay in rent anyway? 

At The Grant County Bank, we can help you make some of these decisions.  We have experienced lenders who can help guide you and give you all of the information you need to decide if now is the right time for you to buy.   

So, what can Grant County Bank offer when it comes to mortgage loans?

• Competitively low rates for home purchases or refinance
• Loans available for a primary residence, second homes, vacation homes, or investment properties
• A wide range of financing programs including:
  • Fixed-rate mortgages
  • Adjustable rate mortgages (ARMs)
  • Construction loans
  • Home equity loans and lines of credit
• Budget-friendly repayment terms, unique to your situation
• Free pre-qualification for extra confidence with it comes to securing financing
• And more!

Buying a new home will keep you busy enough. With key features like free pre-qualification, local processing, and quick decisions, let Grant County Bank do the heavy lifting on the financing.

At Grant County Bank, we help walk you through the process, answer your questions, and help you find the right mortgage for your situation. Enjoy the freedom of homeownership and the benefits of building equity with competitive rates for a home purchase or refinance. Get the most house for your money with a Grant County Bank lender on your side. Applying online is as easy as 1-2-3. You can apply now in as little as 20 minutes or visit your local Grant County Bank branch to get started.

Buying a home is exciting and, let’s face it, complicated. This booklet is a toolkit that can help you make better choices along your path to owning a home.

Disclosure: Application is required and is subject to underwriting. Not all applicants are approved. Full documentation & property insurance are required. Loan secured by a lien against your property. Fees & charges apply and may vary by product and state. Terms, conditions & restrictions apply, so call for details. Grant County Bank provides a variety of loan products with different rates, payments and fees. All loans are subject to credit approval. Products and services offered by Grant County Bank. Equal Housing Lender and Member FDIC.