Real Estate, Home Loans & Identity Theft!

On January 10,2008, the Feds decided to drop interest rates .5% to stimulate the economy.  Rates for a conventional loan to refinance rate/term or for purchase loans can see rate as low at 5.75% paying a point depending on the loan type.  A down-payment will be required to obtain this type of rate.  Fannie Mae now adds to the rate for lower credit scores so your interest rate may be affected for lower credit scores.  HUD loans are still a great avenue towards purchasing since no add-on to the rate is generally required due to lower fico scores.  FHA is also currently be considered for changes which include a lower down.  More will be disclosed on this blog about market changes.  Homes are ON SALE! Many benefits are there for a buyer interested in buying at this time such as the ability to negotiate the sales price of homes, obtaining seller assistance towards closing costs, interest rate buy-down and lower interest rates to name a few.  You will need to start your purchase by getting pre-approved!  Take the time to complete the online application to begin your home purchase process. We work with some GREAT REALTORS who will take the time to find your the right home!

Keep in mind the great reasons to buy now: Great home prices, Seller's willing to provide buyer concessions and Great Interest Rates! Please blog me any questions or concerns regarding the real estate market, interests rates and lending requirement changes.  -Tess