Assumable Loans made easy plus some San Angelo Real Estate Data

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SAN ANGELO NEWS

ERA Newlin & Company has recently teamed up with an assumable loan expert to help push these loans through in a shorter amount of time. All FHA, VA, and USDA loans are assumable! An assumable loan, also known as an assumable mortgage, allows a homebuyer to take over the seller's existing mortgage. The buyer assumes the seller's interest rate, remaining loan term, principal balance, and monthly payments. The buyer then makes payments on the remaining balance at the same rate and term as the original borrower.

HOMEOWNERS: If you have an existing FHA, VA, or USDA loan, you can include your mortgage with the sale of your home and potentially receive a better offer.

HOMEBUYERS: If you are hesitant to purchase a home due to current rates, this could be an option to get a much lower interest rate and keep your payment as low as possible. 

FMI - email [email protected] or text 325-704-0407 to set up a time to discuss!

MARKET REPORT

Despite nasty weather, the longest SAISD school year ever and not great interest rates the market continues to rock along. In the past 7 days there have been 67 new listings, 33 closings and another 34 homes marked under contract. We now have 429 residential homes for sale in San Angelo and 200 under contract. While these numbers are lower than many would like to see, it is great to see inventory rising while so many are still looking for housing. 

There are currently 65 new construction homes for sale ranging in price from 190k to 850k. Look at San Angelo's New Construction here! 

The rental inventory listed on the MLS is still very low. There are only 34 homes for rent as of today. Take a look here.

San Angelo has 429 active homes for sale as of 5/29/24. Here is a breakdown of price ranges as well as a link to check them out.

 Under 100k 
100 - 200k 
200 - 300k 
300 - 400k 
400k+ 

INTEREST RATES

After several small drops in Mortgage rates we had a little jump yesterday. The rates in the picture are national averages so we are still seeing buyers lock in for lower rates in San Angelo. More inflation data numbers are coming out this week so hopefully we have good news on that front. There is still talk of at least one rate drop this year. As the presidential election heats up, it should be interesting to see if the current administration wants to ease interest rates to help boost confidence in the economy. I will be watching! 

Feel free to share this newsletter with anyone who may be interested! 

- Janet Ridgway, REALTOR® 325-212-9451

-Samantha Tarr, REALTOR® 325-340-7252

Looking to BUY or SELL in 2024??
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Thank you for your time today
We look forward to working with you now or in the future...

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