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Low Mortgage Rates Driving the Motivation to Buy a Home

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Buying a house can be a wonderful experience if you are prepared with a pre-approved home loan and have hired a good local realtor that understand the market and your needs. Obviously signing a hundred legal documents that commit you to a thirty-year mortgage and a house that requires 360 monthly payments will make you think. Home ownership certainly brings new opportunities and tax deductions that are appealing financial, but you want to make sure you are ready before making this major commitment.

With that being said, most people want to own a home in their lifetime so I am asking you this question – – – What are you waiting for? If you have the financial means to come up with the required down-payment and demonstrate enough saving for 3-6 months of housing expenses, then you should pull the trigger on buying a home.  Here’s why: Home prices have dropped drastically to 2003 levels and home mortgage rates have declined to an all-time low. Therefore it is unlikely that you will ever see home financing loans more affordable in our lifetime.


Get Organized and Layout a Strategy to Finance a Home in 2012

The reality is that as soon as banks can recover from the foreclosure crisis and property values shift towards positive territory, interest rates will climb significantly. According to a Mortgage Bankers Association spokesman, “Having the ability to get approved for a fixed rate 30-year mortgage below 4% with only a 3.5% down-payment is a beautiful thing.” This type of low down-payment home loans will disappear and likely not return in our lifetime.  Therefore, the sense of urgency to get approved for home purchase loan today is very real and if we recommend striking while the iron is hot. Nobody knows when interest rates will start to climb, but when you consider history it is very possible that rates double in three or four years.

Choose from the Following Home Financing Programs:

  • Loans for First Time Home Buyers
  • Mortgage Bad Credit Insured by the FHA
  • No Credit Home Loans
  • Conventional Home Mortgages
  • Military Financing with a VA Loan
  • USDA Mortgage up 100% LTV

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