How long do you suppose the mortgage interest rates will be as low as they currently are?
I am 25, preparing to purchase my first home! I have been positive like a wild woman olden times year and a half trying to save as much as possible towards my down money. I want to save as much as possible before the rates run back up. Anyone have understanding in finance or mortgages? Only serious answers, PLEASE!
Answers:
I think a few more months but they were dance back up
If you want to purchase before the year is over then you'll be alright surrounded by finding a good rate. The rates should float for a while and then start to increase, but the federal reserve keep making rate cuts and they'll probably cut the rates again before the year is up. "09" Who knows what lies ahead, but we Hope for the best! My email is jdawson(a)gracefunding.org. Hope I help. Source(s): CA Loan Officer
No one can utter what will happen with rates beside any degree of certainty. We hold witnessed an unprecedented period of volatility; both ways, in recent months.
You don't inevitability a huge down payment to qualify for financing as a first time home buyer in most areas. What you requirement is a lender who specializes in first time home buyers to figure out whether or not you are within a position to buy now if you want certainty just about your rate.
Some people will say they are going up, some will say aloud they will go down, but one thing is positive; they will change. If you can find a rate today that works for you, you should take it because it could be gone tomorrow.
In Ohio, we own a bond money program with a rate at 5.875%. They have grant that can be used for dowm payment assistance and affordable 2nd mortgages, too, for down payment and closing costs. Your state housing agency might hold similar programs.
The FHA programs allow the seller to assist you with down reimbursement and closing costs. The key is finding a motivated seller of a home you approaching. If you are qualified, there is no reason to linger.
If you have any other questions, you can contact me through the cooperation in my profile and I would be happy to facilitate you further.
Good luck with your home search. Source(s): 7 years mortgage lend experience.
Related Questions:
VA loan mortgage rates?
My husband and I are thinking of buying our first home using his VA loan benefit. Our friends used theirs in Jan 2009 and they received 5.5% interest rate, they have really great credit and we dont, my husbands evaluation is 635. When I called around today (i called 6...
Answers:
I think a few more months but they were dance back up
If you want to purchase before the year is over then you'll be alright surrounded by finding a good rate. The rates should float for a while and then start to increase, but the federal reserve keep making rate cuts and they'll probably cut the rates again before the year is up. "09" Who knows what lies ahead, but we Hope for the best! My email is jdawson(a)gracefunding.org. Hope I help. Source(s): CA Loan Officer
No one can utter what will happen with rates beside any degree of certainty. We hold witnessed an unprecedented period of volatility; both ways, in recent months.
You don't inevitability a huge down payment to qualify for financing as a first time home buyer in most areas. What you requirement is a lender who specializes in first time home buyers to figure out whether or not you are within a position to buy now if you want certainty just about your rate.
Some people will say they are going up, some will say aloud they will go down, but one thing is positive; they will change. If you can find a rate today that works for you, you should take it because it could be gone tomorrow.
In Ohio, we own a bond money program with a rate at 5.875%. They have grant that can be used for dowm payment assistance and affordable 2nd mortgages, too, for down payment and closing costs. Your state housing agency might hold similar programs.
The FHA programs allow the seller to assist you with down reimbursement and closing costs. The key is finding a motivated seller of a home you approaching. If you are qualified, there is no reason to linger.
If you have any other questions, you can contact me through the cooperation in my profile and I would be happy to facilitate you further.
Good luck with your home search. Source(s): 7 years mortgage lend experience.
Related Questions:
VA loan mortgage rates?
My husband and I are thinking of buying our first home using his VA loan benefit. Our friends used theirs in Jan 2009 and they received 5.5% interest rate, they have really great credit and we dont, my husbands evaluation is 635. When I called around today (i called 6...