Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says: “Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.” But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment. The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house back in April (this year’s mortgage rate high), versus what it could look like if you buy a home now (see below): Going from 7.5% just a few months ago to the low 6s has a big impact on your bottom line. In just a few months’ time, the anticipated monthly payment on a $400K loan has come down by over $370. That’s hundreds of dollars less per month. Bottom Line With the recent drop in mortgage rates, the purchasing power you have right now is better than it’s been in almost two years. Let’s talk about your options and how you can make the most of this moment you’ve been waiting for.

At Eagles World Realty, we are proud to support veterans and active service members on their journey to homeownership. Buying a home can be overwhelming, especially with the unique needs that come with using VA home loan benefits. Here’s everything veterans need to know to make the process easier. Can I Use My VA Loan to Pay for My Agent? Yes! As of August 10, 2024, veterans using VA home loans can now pay for their real estate agent if needed. This change gives veterans more flexibility and access to professional guidance throughout the home-buying process. This policy is currently temporary, but efforts are being made to make it permanent. Why Do I Need to Sign a Buyer Agreement? Starting on August 17, 2024, all homebuyers working with a real estate agent will need to sign a written buyer agreement. This document explains what services your agent will provide and how they will get paid. It's designed to make sure everything is clear from the start. At Eagles World Realty, we ensure these agreements are straightforward and customized to meet your needs. How Will My Agent Get Paid? Your agent’s payment will be outlined in the buyer agreement and can be handled in a few ways: The seller or their listing agent may offer to cover the cost. You can negotiate for the seller to pay your agent as part of the purchase offer. You may also pay your agent directly out of pocket. Our agents will work with you to find the best arrangement that fits your situation. What Has Eagles World Realty Done to Help Veterans? Eagles World Realty is dedicated to helping veterans secure financing and make the most of their VA home loan benefits. Some of the ways we advocate for veterans include: Supporting flexible and competitive VA loan products Assisting veterans with navigating VA appraisal requirements, which can sometimes be strict Helping veterans take advantage of assumable mortgages, which allow buyers to assume a low-interest VA loan from a seller Our team has extensive experience working with VA buyers and is here to help you navigate the process smoothly. Why Work with Eagles World Realty? At Eagles World Realty, our agents are dedicated to serving veterans and their families. We understand the specific challenges you may face as a veteran homebuyer, and we are committed to guiding you every step of the way. Many of our agents have experience working with veterans and can help you make the most of your benefits. Get connected with us today!

If you're buying a home and working with a REALTOR®, you may be asked to sign a written buyer agreement starting August 17, 2024. This is a new step to help protect and guide you. Here's what it means and why it’s nothing to worry about.What Is a Buyer Agreement?A buyer agreement is a contract between you and your real estate agent. It explains what services your agent will provide and how they’ll be paid. It’s designed to make everything clear from the start.Why Do I Need to Sign It?This new rule is part of the National Association of REALTORS®’ response to recent changes in real estate practices. While some states have used buyer agreements for years, this is now becoming standard everywhere.Can I Negotiate the Agreement?Yes! You can negotiate the services, the length of the agreement, and how your agent gets paid. Just make sure the agreement reflects what you’ve discussed and feel comfortable with.How Does It Benefit Me?This agreement ensures everyone is on the same page, reducing confusion. You’ll know exactly what your agent is doing for you and what they’ll be paid, which makes the process smoother.When Do I Need to Sign It?You’ll be asked to sign before you tour homes with your agent, whether in-person or online. If you’re just visiting an open house or asking for information, you don’t need to sign yet.Will I Have to Pay Out of Pocket?Not necessarily. You can still negotiate for the seller or their agent to cover your agent’s fees. The agreement will outline what’s expected, so you know upfront.Can I Change or Exit the Agreement?Yes! You and your agent can make changes or even end the agreement if needed, as long as both sides agree. Just be sure to read the details carefully. Ready to navigate your home-buying journey with confidence? Understanding and signing a buyer agreement is a key step in making sure you and your REALTOR® are on the same page. If you have any questions or need assistance with this new process, don’t hesitate to reach out to your agent or contact us for more information. Let's make your home-buying experience as smooth and informed as possible. Start your journey today!