A mortgage lender in Santa Clarita is explaining why the real estate market is so “strong” despite the current state of the economy, and what this means for those looking to buy a home.

Dave Cantrell of American Family Funding first expressed his belief that home ownership will “drive this economy back to where we used to be” in the wake of the coronavirus pandemic. 

“The real estate market (is) much, much different than what we had back in 2008, where the real estate market was really one of the causes of the recession,” Cantrell said. “This time I really believe that the real estate market is going to be what brings us out of a recession because the market is still so strong.”

Related: Mortgage Brokers In Santa Clarita Discuss Current ‘Unbelievable’ Interest Rates

One reason for this continued strength is ongoing low interest rates on mortgages, Cantrell noted. 

“Any time you have a lower interest rate, it increases your ability to buy a home in that your affordability index goes up,” he said. “You can afford more with lower interest rates obviously because it brings your payment down.”

Another reason the housing market has remained strong is the lack of inventory, according to Cantrell.

“If you look at any of these homes that are being listed right now, they are getting multiple offers very, very quickly because there’s just not a lot of homes around,” he said. “We don’t have nearly enough as a country. We are about 1 million homes underbuilt.”

Cantrell went on to explain that these two factors in the housing market means there will likely be “a little bit more of a challenge” when it comes to buying a home, but that there are ways to be competitive with an offer. 

“There’s different ways to make your offer more attractive,” he said. “Not just, ‘Hey, we’re going to pay a little bit more.’ There might be other things out there.” 

Ed. Note: This article is a KHTS Community Spotlight for American Family Funding.

American Family Funding a Division of American Pacific Mortgage Corporation NMLS #1850

David Cantrell NMLS #1427091 — Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act.

About American Family Funding, Your Resource for Santa Clarita Mortgages

Santa Clarita mortgage lender American Family Funding can help you fulfill your dream of home ownership. A highly rated mortgage lender in Santa Clarita, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly Santa Clarita mortgages advisor will make the first-time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. Unlike some mortgage companies in Santa Clarita or mortgage brokers in Santa Clarita, the home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program. If you’re looking for the best mortgage lender in Santa Clarita or a “mortgage lender near me,” contact American Family Funding today. 

American Family Funding
28338 Constellation Road
Suite 900
Valencia, CA 91355

(661) 284-1150

info@affloans.com

American Family Funding – Valencia

https://www.youtube.com/watch?v=ue5q_mr10-E&t=697s

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