If the idea of buying has crossed your mind recently, you will want to know this important information!
Interest rates are expected to rise in March 2010, possibly as much as a full 1% - which will change your purchasing power or monthly costs for the same property about 9%.
As you probably know, the first time home buyer tax credit has been extended until April 2010- this means you must identify a property by April 30th and close by June 30th 2010. By doing your research and identifying a property before the end of February, you have plenty of time to close and overcome all the bank delays to keep you qualified for this program. It's taking weeks longer to obtain a loan these days, so I'd hate for you to miss out because you are passed the cutoff date! For more info see: http://www.federalhousingtaxcredit.com/faq1.php
Also, since winter is the least popular time to look for property, there are many price reductions and great values out there...and guess who can help you find them?
If you or anyone you know is looking to benefit from this and are getting married, having a baby, looking to own instead of rent, and feel confident with their employment, have them call me. This is a great time...to BUY.
Comments