Denver has become an extremely attractive city to live in as a result of its low mortgage rates. Compared to national averages in United States in mortgage rates do demonstrate a small cost savings on living in other states or cities in the country.
Denver mortgage rates remained fairly low while the housing price still remains quite high. What this means is that you can purchase an excellent investment home with a high resale value but at a lower mortgage rate than in many other states or cities. For investors this is a no-brainer as they will be paying less money overall to see a higher return on their investment.
In 2010 for example the mortgage rate dropped to an entirely new low of 4.17% for a 30 year fixed mortgage from most lenders. Mortgage rates today in Denver very close to this number but it can be tough to match these type of savings.
These amazing Denver mortgage rates also offer a clear advantage for renters. When mortgage rates dip this low or when you can find a broker who can offer you mortgage rates this low, it makes much more sense to purchase a home rather than rent an apartment or room. With this type of pricing you could eventually own your own home or create an investment for yourself while still paying a similar amount as you would in rent.
If you are considering moving out of state or looking for an inexpensive city to live in that will offer you a great real estate investment, consider Denver. With the cost savings as compared to other US states, if you can afford the flexibility of moving to Denver it just makes sense for the cost savings alone. The city will continue to offer attractive homes and even more attractive Denver mortgage rates to bring in plenty of new citizens.
