Written by 7:32 am Buyers, Finance and Insurance

Howard Hanna Has the Answer to Navigating Today’s Housing Market

In today’s real estate landscape, homebuyers face unique challenges and opportunities. With high interest rates prevailing in the market, finding affordable financing solutions has become more crucial than ever. 

Fortunately, Howard Hanna offers three sought-after products that are excellent products for homebuyers: Hanna Cash Guarantee, Rate Reducer and Buy Before You Sell. Let’s explore these options and why they make sense in today’s housing market.

Understanding Rate Reducer 

Rate Reducer is a mortgage financing strategy that allows homebuyers to secure a temporary lower interest rate on their home loan. Known as a 2-1 buydown agreement, Rate Reducer provides the buyer a low interest rate for the first year of the loan, a somewhat higher rate for the second year, and the full rate for the third year and beyond. 

Advantages of Buydowns

  • Affordability: With high interest rates in today’s market, buydowns offer immediate relief by reducing the cost of borrowing. This can make homeownership more accessible for those concerned about affordability.
  • Budget Predictability: Buydowns provide a predictable payment schedule, which can help homeowners budget effectively. This stability is especially valuable in a volatile interest rate environment.
  • Investment Leverage: Lower monthly payments in the early years can free up cash for other investments or home improvements, allowing homeowners to enhance their property’s value.

Understanding Buy Before You Sell 

Buy Before You Sell is a short-term financing option to help homeowners transition smoothly between two properties. It is an excellent solution for those who need to buy a new home while their current one is still on the market. 

Advantages of Buy Before You Sell

  • Facilitates Quick Purchases: In a competitive housing market, where properties sell rapidly, bridge loans provide the necessary funds to buy a new home before selling the existing one.
  • No Rush to Sell: Homeowners can take their time to secure a favorable sale price for their current property rather than settling for a lower offer due to time constraints.
  • Increased Negotiation Power: Having the flexibility to wait for the right offer on your old home can lead to better financial outcomes.

Understanding Hanna Cash Guarantee 

Hanna Cash Guarantee is an exclusive, one-of-a-kind program that allows homebuyers to provide an as-good-as-cash or better offer to help them secure their dream homes in a highly competitive market. With Cash Guarantee, clients receive a fully underwritten mortgage commitment and an acceptance letter from Howard Hanna Mortgage Services – which delivers a strong, competitive offer for buyers and peace of mind that sellers are accepting a cash offer guaranteed by a credible lending source.

Advantages of Hanna Cash Guarantee 

Competitive Edge: Make your offer with full credit approval, allowing for the removal of any financing contingency. This competitive edge can be especially valuable when multiple buyers are interested in the same property.

No Additional Costs: The Hanna Cash Guarantee is provided at no additional cost to qualified buyers. Howard Hanna Mortgage Services does not charge any participation or program fees to apply for the program.

Why These Mortgage Options Shine Today

Homebuyers need to explore creative financing solutions in today’s housing market, marked by high interest rates and competitive conditions. Rate Reducer, Buy Before You Sell, and Hanna Cash Guarantee offer strategies to mitigate the impact. In a competitive housing market with limited inventory, having access to these financing options can give buyers an edge. 

Howard Hanna Mortgage Services offers financial relief, flexibility, and competitive advantages that can make homeownership a reality even in challenging circumstances. We can help you find the right mortgage product to confidently navigate today’s housing market.

NMLS# 101561. Howard Hanna Real Estate Services is not a mortgage lender. Offer of credit is subject to credit approval. Contact Howard Hanna Mortgage Services for mortgage products and eligibility. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities as a Mortgage Lender – License number 21415. The Ohio Department of Commerce – Division of Financial Institutions – License number RM.804531.000. The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation, First Mortgage Broker/Lender License number FL0022570, Second Mortgage Lender Registration number SR0022571. The West Virginia Division of Banking – License number ML-20884. The North Carolina Office of the Commissioner of Banks  – License number L-215626. The State of South Carolina State Board of Financial Institutions – Mortgage Lender/Servicer License number MLS-101561. Contact a Howard Hanna Mortgage Loan Originator for full details. 1000 Gamma Drive – Pittsburgh, PA 15238 and 6000 Parkland Blvd. – Mayfield Hts., OH 44124. (800) 400-4622 mortgage@howardhanna.com. EQUAL HOUSING LENDER.

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Last modified: December 1, 2023