Are you searching for your new home this holiday season but you’re not sure whether to pay cash for your home or get a mortgage?
If yes, Jeremy Walsh Real Estate is here to tell you all about the benefits you could potentially reap from both decisions.
When homebuyers choose one or the other of these home-buying options, they are participating in delayed financing.
Delayed financing is when homebuyers pay cash for a home and take out a mortgage right after closing.
This home buying strategy has become very popular in 2012 for coastal housing markets such as Maryland housing.
Demand for homes nationwide is on the rise, yet inventory remains limited.
Cash buyers have a better chance in getting the homes of their dreams because it makes them stand out from competing bids. They also purchase a home at a lower price because the offer isn’t contingent on financing.
Once the home purchase deal is completed, home cash buyers can regain liquidity by getting a mortgage and investing money in higher returns than what they pay in mortgage interest.
Delayed Financing can be compared to cash-out refinance where the home mortgage borrowers take out home equity. However, cash-out refinance takes months to execute and the rates and fees are much higher.
If you need assistance in finding your new home and more information on delayed financing, hire Jeremy Walsh Real Estate.
Please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!
You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!
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