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 saving like a wild woman the past year and a half trying to save as much as possible towards my down payment. I want to save as much as possible before the rates go back up. Anyone have knowledge in finance or mortgages? Only serious answers, PLEASE!
No one can say what will happen with rates with any degree of certainty. We have witnessed an unprecedented period of volatility; both ways, in recent months.
You don’t need a huge down payment to qualify for financing as a first time home buyer in most areas. What you need is a lender who specializes in first time home buyers to figure out whether or not you are in a position to buy now if you want certainty about your rate.
Some people will say they are going up, some will say they will go down, but one thing is certain; 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 have a bond money program with a rate at 5.875%. They have grants that can be used for dowm payment assistance and affordable 2nd mortgages, too, for down payment and closing costs. Your state housing agency might have similar programs.
The FHA programs allow the seller to assist you with down payment and closing costs. The key is finding a motivated seller of a home you like. If you are qualified, there is no reason to wait.
If you have any other questions, you can contact me through the link in my profile and I would be happy to help you further.
Good luck with your home search.
Lowest Mortgage Rates – Fast and Easy
|
|
Successfully Navigating the Mortgage Maze: Save Thousands on Your Mortgage; Avoid Dishonest Lenders and Brokers; Finding the Lowest Rates and Fees; Understandin $13.6 No Synopsis Available |
|
|
The Magnate Of The People, Or, Lowest Instead Of Highest Railroad Rates In The World… $21.45 The Magnate Of The People, Or, Lowest Instead Of Highest Railroad Rates In The World… |
|
|
1br – Lowest Rates In Sandestin-Pilot House In BayTowne $100 IF YOU FIND A LOWER RATE IN BAYTOWNE VILLAGE FOR A SIMILAR UNIT (ONE BEDROOM & TWO FULL BATHROOMS) WE'LL BEAT THE RATE BY 10%…GUARANTEED!!!(Must Provide Copy Of Similar Listing)This Unit Has Two (2) Full BathroomsMaster – Shower & Tub Combo2nd… |
|
|
Keys to Mortgage Financing & Refinancing $9.5 Updated to account for current low interest rates and historically high real estate prices, this book advises on the details of getting a mortgage for a home purchase, dealing with banks and other … |
|
|
Mortgage Secrets : 6 Steps to the Lowest Rate and Closing Costs… Guaranteed $19.45 No Synopsis Available |
Tags: No Comments
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.