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Home Financing Costs

Wednesday, July 13, 2011
by Paula McDaniel

Home financing costs are at historic lows, making home ownership a reality for many first time buyers! Freddie Mac is reporting that the average commitment rate for a 30-year fixed rate loan was hovering around 4.64 percent at the end of May 2011. This is slightly below the 4.84 percent commitment rate available from the month before. Many experts see rate increases on the horizon, as our nation's housing markets improve and inventory stabilizes. If you are considering a home purchase or a refinance, be sure to work with a loan officer who understands your needs, has a reputation for excellence, and is able to fund your property in a timely manner. A little homework can save you thousands of dollars. Contact us today for our list of local recommended mortgage lenders.

Paula McDaniel
Cell: 423-355-0311
Fax: 423-598-7277


Shelley Talton
Licensed Assistant to Paula McDaniel
Direct: 423-308-5447
Prudential RealtyCenter.com
7522 E. Brainerd Rd.,
Chattanooga, TN 37421
Office: 423-899-5943

 

© 2011 Prudential Financial, Inc. and its related entities. An independently owned and operated broker member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license. Equal Housing Opportunity. Licensed in TN & GA.

 

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Should I Buy a Home Now?

Thursday, November 11, 2010
by Paula McDaniel

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Paula McDaniel
Cell: 423-355-0311
Fax: 423-598-7277


Shelley Talton
Licensed Assistant to Paula McDaniel
Direct: 423-308-5447
Prudential RealtyCenter.com
7522 E. Brainerd Rd.,
Chattanooga, TN 37421
Office: 423-899-5943

 

© 2011 Prudential Financial, Inc. and its related entities. An independently owned and operated broker member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license. Equal Housing Opportunity. Licensed in TN & GA. Paula McDaniel,luxury home specialist,Chattanooga TN real estate,Paula McDaniel Chattanooga Real Estate,Chattanooga Luxury Home Specialist,Chattanooga Real Estate,Chattanooga for sale,Real Estate,Chattanooga,Real Estate for sale,Chattanooga houses for sale,Chattanooga,Paula McDaniel,Luxury Home Expert,Golf Course Home Expert,Chattanooga Golf Course property specialist,Luxury Homes for sale in Chattanooga,Paula McDaniel top Chattanooga Realtor,Paula McDaniel number two realtor with Prudential in the united states of america,paula mcdaniel,paula mcdaniel chattanooga's top luxury home realtor,Paula McDaniel luxury and waterfront home specialist,Waterfront Homes for sale in Chattanooga,TN,Million dollar homes for sale in Chattanooga,Chattanooga Luxury Homes for sale,Chattanooga Homes For Sale,Hampton on the Lake,Chattanooga Real Estate Priced Under $100,000,Chattanooga waterfront homes communities for sale,waterfront homes in Chattanooga,chattanooga’s top waterfront homes for sale real estate agent,Chattanooga luxury homes for sale,Chattanooga luxury homes for sale,Chattanooga waterfront and luxury homes for sale by a top and leading realtor in chattanooga,paula mcdaniel,all Chattanooga Real Estate For Sale,Chattanooga TN BEST OF THE BEST Realtor 2 years in a row

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Photo of Paula McDaniel ABR, CRS, e-PRO, GRI Real Estate
Paula McDaniel
ABR, CRS, e-PRO, GRI
2115 Stein Drive
Chattanooga TN 37421
Cell: 423-667-2997
Office: 423-362-8333
Office Direct: 423-661-3975
Fax: 423-362-8334
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​The Paula McDaniel Group
Cell: 423-667-2997
Email: [email protected]
Real Estate Partners Chattanooga LLC 
Office: 423-362-8333
2115 Stein Drive
Chattanooga, TN 37421
Equal Housing Opportunity. Licensed in TN and GA. It is up to the buyer to verify that all information is correct and accurate. 
Displayed property listings may be held by a brokerage firm other than Real Estate Partners Chattanooga LLC​ and The Paula McDaniel Group.