EquiLane Lending, LLC

09/02/2022

Happy Labor Day to all of Friends, Clients, and Partners. In observance of the Labor Day Holiday, our office will be closed on Monday, September 5th.

08/16/2022

Exciting news for all our clients and partners: We are licensed to do business in TEXAS!!! Whether it's a relocation, a vacation home, an investment property, or a refinance of a current property we are ready and able to help you with any of your needs. Call today for a free consultation.

NMLS 378869

07/14/2022

Exciting news for all our clients and partners: We are licensed to do business in Florida!!! Whether it's a relocation, a vacation home, an investment property, or a refinance of a current property we are ready and able to help you with any of your needs. Call today for a free consultation.

07/01/2022

From the EquiLane Family to all of our Clients and Partners, Happy 4th of July!! In observance of the 4th of July Holiday our office will be closed Monday, July 4th.

05/27/2022

In observance of Memorial Day, our office will be closed on Monday, May 30th. Enjoy the day with your friends and family.

04/06/2022

Need $$$ for home improvements or debt consolidation? Give Nicole a call today. She’ll exceed your expectations and make sure you get the best mortgage available for your needs!!

04/03/2022

Another 5 ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ Review. Let the Dream Team of Kelly and Nicole help you with your Mortgage needs.

02/04/2022

Should you wait to purchase a home?

"If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home.
To determine whether you should buy now or wait another year, you can ask yourself two simple questions:
Where will home prices be a year from now?
Where will mortgage rates be a year from now?
Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts:
Fannie Mae: 7.4%
Freddie Mac: 7%
Mortgage Bankers Association: 5.1%
According to the National Association of Realtors (NAR), the median price of a home today is $353,900. Using an average of the three price projections above (6.5%), a home that sold for $353,900 today would be valued at $376,904 at the end of next year. As a prospective buyer, you would therefore pay an additional $23,004 by waiting.
Today, Freddie Mac announced their 30-year fixed mortgage rate was at 3.1%. However, most experts believe mortgage rates will rise as the economy recovers. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:
Fannie Mae: 3.4%
Freddie Mac: 3.7%
Mortgage Bankers Association: 4%
That averages out to 3.7% if you include all three forecasts. Any increase in mortgage rates will increase your costs.
What Does It Mean for You if Home Values and Mortgage Rates Increase? If both variables increase, you’ll pay a lot more in mortgage payments each month. Let’s assume you purchase a $353,900 home today with a 30-year fixed-rate loan at 3.1% (the current rate from Freddie Mac) after making a 10% down payment. According to mortgagecalculator.net, your monthly mortgage payment would be approximately $1,360 (this does not include insurance, taxes, and other fees because those vary by location).
That same home one year from now could cost $376,904, and the mortgage rate could be 3.7% (based on the industry forecasts mentioned above). Your monthly mortgage payment after putting down 10%, would be approximately $1,561.
Two Reasons Why Waiting To Buy a Home Will Cost You: The difference in your monthly mortgage payment would be $201. That’s $2,412 more per year and $72,360 over the life of the loan.
Add to that the approximately $23,004 a house with a similar value would build in home equity this year due to home price appreciation, and the total net worth increase you could gain by buying this year is over $95,364 (the $72,360 mortgage savings plus the $23,004 potential gain in equity if you buy now).
Bottom Line
When asking if you should buy a home, you may think of the non-financial benefits of homeownership. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year."

At EquiLane we can ensure you get the mortgage that best fits your needs and maximizes your buying power. Message or call us today

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12/23/2021

From the EquiLane Family to you and yours Merry Christmas and Happy New Year!!

11/25/2021

Wishing all of our clients and friends a very happy and blessed Thanksgiving

11/11/2021

Thank You for Your Service.