Austin has some of the most Affordable Home Loans
Like a lot of midsize cities, Austin real estate prices run the gamut, from multi-million dollar estates to modest, affordable homes. It’s these modest homes and the affordability of Austin home loans that were given recent spotlight on Yahoo Real Estate’s “Where to Buy a Home for Less Than $800 a Month.”
Low Interest Rates on Austin Home Loans
The article may oversimplify the Austin real estate market a bit, but there is no denying that Austin has a great combination of high quality of life and reasonable cost of living. Yahoo put the median price for a home in Austin at $197,000, and with 20 percent down a monthly mortgage payment is $782. A big component of this, and of Austin home loans in general right now, is the ridiculously low Austin interest rate.
The great thing about the variety of Austin neighborhoods and the range of home prices is that a lower priced house does not mean a significantly lower quality of life. Good schools are spread throughout the entire city, as are green spaces, good restaurants and convenient shopping. While home prices and home sales remain down overall across the country, Austin is holding its own.
Home Prices on the Rise while Austin Home Loans remain Low
Home prices in Austin, like those across the country, fell during 2009. But 2010 has seen a steady increase in Austin home prices, particularly as the cost of Austin home loans has remained historically low. Thanks to a healthy Austin economy, Yahoo Real Estate and CNN Money are among the websites and publications that continue to recognize Austin as a smart place for affordable Austin home loans and a high quality of life. The recent onset of lovely fall weather makes Austinites feel even luckier to be living in our amazing city.