Blog

Blog

For mortgage brokers across the country, one of the single most common questions received is regarding the best timing practices for obtaining a mortgage. Potential homebuyers want to know which season, time of year or even month is best for applying for a mortgage or closing on a home, hoping to find the best deals and mortgage rates possible.

At Altius Mortgage and our partners at Mortgage Ogden, we’ll assist you with a wide range of timing-related questions when considering a mortgage loan, especially for your first time. But in reality, the answer often depends on you and your individual circumstances – with the summer in full swing, this two-part blog will examine several conditions that might make this season the optimal one for you to purchase a home and begin the moving process.

Rising Market

At the top of our list is a consideration that relates specifically to this summer, and tracks back to continuously rising market prices in the homebuying world. Believe it or not, the housing economy is still technically recovering from the 2008 economic disaster, and predicting home values to continue to rise – as they have by around 6.5 percent over the last year – is a virtually certain bet at this point.

Along with this trend, interest rates are expected to continue rising as well. If you’re unsure of whether to pull the trigger now or later, doing so now, before prices rise further, can save you thousands on your eventual mortgage, both on the principal home price and your interest payments.

No School for Kids

For those potential buyers who have school-aged children, the summer offers a great window for a home purchase and move due to the fact that school is out. This is generally a chief complicating factor for moves during the school year – moving takes some significant commitment, especially for a full family, and even more so if you’re moving a major distance.

In addition to making moving simpler, this format also makes things easier on your kids themselves. If they have to change schools, it allows them time to settle in and get involved in fall school-related activities and meet new friends.

Great Moving Weather

Finally, another big convenience item is how much easier it is to move during the summer than other seasons. Utah residents know full well how quickly a storm can spring up during winter, and there’s nothing worse than trying to manually move large furniture and other home items during a blizzard. Especially if your move involves significant driving and manual lifting and carrying, the summer is usually the best time to get it done.

For more on reasons why you should consider a summer move, or to learn about any of our mortgage loan or refinancing services, speak to the staff at Altius Mortgage today.

July 7, 2019
benefits home purchases summer

Possible Benefits of Home Purchases During Summer, Part 1

For mortgage brokers across the country, one of the single most common questions received is regarding the best timing practices for obtaining a mortgage. Potential homebuyers want to know which season, time of year or even month is best for applying for a mortgage or closing on a home, hoping Read More
June 25, 2019
personal financial benefits vacation home

Personal and Financial Benefits of a Vacation Home

At Altius Mortgage and our partners at Mortgage Ogden, we’re proud to offer a wide variety of mortgage loans to Utahns of all needs. This includes those looking for their very first home, those looking to upgrade, and even those in another unique position: Looking for a vacation home, or Read More
June 19, 2019
school themes homebuyers children

School and District Themes for Homebuyers With Children

If you’ve entered the mortgage world and are browsing for new homes, you’ll be considering a number of different factors, from location and property basics to home size, amenities and many others. And for those who have children or are planning to in the near future, another factor should be Read More
May 28, 2019
home appraisal mortgage application

Home Appraisal Basics During a Mortgage Application

Within the mortgage and homebuying world, one vital piece of the process to understand is the appraisal. Designed to produce a fair and unbiased value for a home about to be purchased, appraisals are based on several factors and play a big role in some of the major financial details Read More
May 3, 2019
mortgage loan-to-value ratio

Understanding Mortgage Loan-to-Value Ratio

You’ll hear several industry terms when applying for a mortgage, and one such term might be “loan-to-value ratio.” Abbreviated LTV, this ratio is an important number viewed by lenders and mortgage companies that plays a major role in mortgage acceptance and mortgage refinancing situations. At Altius Mortgage and our partners Read More