The Early Bird gets….a home.
January 19, 2009 – 10:07 am
Robin on the prowl
They say the early bird gets the worm, but what does the worm get? Eaten!
In the current state of the economy, interest rates are bouncing up and down, credit requirements are tight and banks are going under or keeping all their loan money in reserve, right?
Not necessarily. Believe it or not, the National Average on a 30-year fixed loan with good credit (700+) is 4.91%.
Who can get it? First time home buyers, refinancing home-owners with 20% equity, and resellers with positive equity.
What’s the catch? No one knows how long these rates will hold. Given the current crisis, the bouncing dollar and a new administration’s challenge to help current homeowners avoid foreclosure, no one can say what will happen in the coming months. I can tell you that the FHA $7500 down-payment assistance program ends in June.
Will it be replaced with other incentives? Who knows, but this I do know. The current decline in home sales prices have finally made it possible for the average renter to buy for the same as they rent.
To me, that’s an important indicator, kind of like a fat juicy worm. Question is, are you an early bird?
If so, give me a call. Let’s help you find your slice of heaven.
Happy Day,
One Response to “The Early Bird gets….a home.”
I always enjoy you comments and pictures.
Keep them coming.
Joyce S.
By Joyce Southwell on Jan 19, 2009