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It’s the Most Wonderful Time of the Year… to Buy or Refinance Your Home!

December 17, 2020 - Resources

As winter approaches, you’re probably thinking of hot chocolate and holidays—but you might also want to give some serious thought to buying or refinancing a home.

Though it is generally considered the “off-season” for real estate, winter has a number of advantages for those looking to buy or refinance a home:

Fewer Buyers

Put on your parka, it’s time to go home shopping! Summer is typically the busiest time of year for buying a home, which is exactly why you should consider buying this winter instead. Fewer buyers mean less competition. Which is bad news for sellers, but great news for you! If you’re willing to house hunt during the holiday hustle-bustle, you could benefit from potentially lower home prices this winter season.

More Opportunities to Save

Do you have a New Year’s resolution to save more money?

With rates hovering around 3%, now could be a great time to lock in some serious savings and make your resolution a reality. Take advantage of the low rates to buy a home, switch to a fixed-rate mortgage, eliminate PMI, and maybe even shorten the length of your loan. You could also free up some extra cash for the New Year by leveraging your home's equity to pay off a large purchase, or other high-interest debt. Now there’s something to celebrate!

Faster Closing Times

With fewer people applying for loans, lenders typically have less paperwork on their desks. This often results in faster closing times, which is good news whether you’re buying or refinancing. Plus if you’re buying there’s even more good news: Moving companies (like lenders) often have more availability during the winter months, leaving you with more time for holiday memory-making.

Use our mortgage calculator.