Timing a home purchase can feel overwhelming—especially when interest rates, home prices, and market conditions are always changing. But instead of waiting for the “perfect” moment, the best approach can be to focus on what you can control: your finances, your goals, and the resources available to help you buy with confidence.

If homeownership is on your radar, here’s what to consider when deciding if now is the right time to take the next step.

Are You Financially Ready?

Owning a home comes with upfront costs, but that doesn’t mean you need perfect finances to buy. Some factors to consider include:

1. Your Credit Score – A stronger credit score can help you secure better loan terms, but many programs allow for flexible credit requirements.
2. Your Savings – You’ll need money for a down payment and closing costs, but there are assistance programs that can help. If saving for a down payment is a concern, Movement has down payment assistance options like Movement Boost, which can help qualified FHA borrowers with down payment assistance and a portion of closing costs.*
3. Your Debt-to-Income Ratio (DTI) – Lenders will look at how much of your income goes toward existing debts to determine how much you can borrow.

*Movement Mortgage is not affiliated, endorsed, or sponsored by the Federal Housing Administration or any other government agency. Additional restrictions apply. Reach out to a loan officer for more information.

 

 

What’s Happening With Interest Rates?

Mortgage rates have been fluctuating, but one thing remains true: you don’t need to wait for rates to drop to buy a home. Here are three reasons why:

1. Rates change daily. By the time you wait for a “perfect” rate, home prices or competition may rise.
2. The home price could increase while you wait for rates to drop.
3. If eligible, you can always refinance. If rates drop in the future, you may have the option to refinance for a lower rate.
4. There are options to protect your rate. Movement Mortgage’s Lock & Shop program lets qualified borrowers secure a rate while you search for a home, helping protect you if rates rise before you find a home you love. **

**The Lock & Shop 120-day lock period is available for 30-year fixed Conventional, FHA, and VA 1-4 unit Primary and 2nd Home (when permitted by product) purchase loans for an upfront Lock & Shop Fee. Owner occupied, purchase transactions only. Borrower must pay Lock & Shop Fee within 48 hours of Lock Request and identify a property address within 75 days of the Lock Request or the lock will be canceled. Excludes brokered, jumbo, renovation, buydowns, COOPs, and bond loans. Borrower will be eligible for a one-time float down no earlier than 45 days and no later than 15 prior to the estimated closing date once they are fully approved (no outstanding borrower credit conditions). The Lock & Shop program may be amended or terminated at any time except for qualified home purchasers with loans locked prior to the date of the amendment or termination. This offer is not a commitment to lend.

For example, if you’ve decided to wait until rates are a full percentage point lower than they are now, you could end up waiting an unknown amount of time—potentially missing out on homes you love or facing higher prices when rates finally drop. If you’re financially ready and find the right home now, you can buy at today’s rate and potentially refinance later when rates reach your target level. That way, you could secure your home now and still get the benefit of a lower rate in the future.

Every month you wait is time you’re not building equity—and time you’re still paying rent instead of investing in your own home. If home prices continue to appreciate, delaying your purchase could mean paying more for the same home later—or missing out on the equity gains entirely.

For example:***

• Current Home Price: $450,000
• Projected Annual Appreciation: 3.7%
• Equity Gained in One Year: $16,650

***Data is hypothetical and for example purposes only. Should not be construed as a guarantee.

That’s money that would be going toward your net worth if you owned a home now instead of waiting.

Does Buying Fit Your Long-Term Goals?

Homeownership isn’t just about when—it’s about why. If any of these reasons sound familiar, it might be time to make your move:

1. You’re tired of rising rent costs. Rental prices continue to increase, and every month you rent is money you’re not investing in yourself.
2. You want stability. Owning a home gives you control over your living space, neighborhood, and personal goals.
3. You’re ready to build equity. Unlike renting, homeownership allows you to build wealth over time.

What If You Already Own a Home?

If you’re already a homeowner, you might be wondering if now is the right time to move up to a new home. Just like first-time buyers, current homeowners need to weigh key factors before making a move.

• Consider your current home’s value. Home prices have been rising, which means your current home may have appreciated in value. Selling now could give you a strong financial foundation for your next home.*

  *should not be construed as financial advice. Consult a financial advisor for your situation.

• Understand the cost of waiting. While your home is gaining value, the price of your next home is likely increasing too. The longer you wait, the more expensive upgrading could become.
• Think about mortgage rates. If you secured a lower rate on your current home, moving up could mean taking on a higher one. However, waiting for rates to drop may not always be the best strategy—home prices and competition could rise in the meantime.
• Factor in lifestyle changes: Whether you need more space, want to be in a new neighborhood or are looking for different features in a home, your lifestyle needs are just as important as financial factors.

If you’re thinking about moving up, now could be the right time to explore your mortgage options. A loan officer can help you determine the best strategy for making your next move.

So, Is Now the Right Time for You?

There’s no one-size-fits-all answer, but if homeownership is something you’re serious about, waiting may not be your best move. Instead of trying to time the market, focus on preparing yourself financially and exploring programs that make buying more accessible.

Not sure where to start? A quick conversation with a loan officer can help you determine if you’re in a good position to buy—and what steps to take next.