HOME OWNERSHIP MAKES MORE FINANCIAL SENSE THAN EVER.
First Time Home Buyers - It’s time to buy a home. The average interest rate for a 30 year fixed mortgage is about 5.0% on a national basis (Source: Sierra Pacific).
All home buyers who do not have a home to sell are in the best position to buy a home with great interest rates. Foreclosures and Short Sales have made homes available at prices not seen since about 2003.
Most First Time Home Buyer programs are available to home buyers who have not owned real estate for the previous 3 years. The low rates make home ownership very competitive when compared to paying rent.
Additionally, the mortgage interest tax deduction will help you make your mortgage payment. Home owners are entitled to an additional tax deduction for federal taxes for each $2,000 of mortgage interest paid. Further, local real estate taxes are also deductible.
Here is a question and answer that you may have thought about:
QUESTION: I’ve been advised that an FHA loan is a good option for us now. We have reasonable credit but not very high credit scores. Also, can we get closing help with an FHA loan?
ANSWER: FHA is hard to beat right now.
Rates are going down! Consider for the last few years rates have been good, but with the recent 1/2 % or more drop it is helping clients buy more house for the same payment.
Remember buyers can receive up to 6% of their purchase price from the seller to go towards closing costs, escrows, and rate buy downs.
First Time Home Buyers - It’s time to buy a home. The average interest rate for a 30 year fixed mortgage is about 5.0% on a national basis (Source: Sierra Pacific).
All home buyers who do not have a home to sell are in the best position to buy a home with great interest rates. Foreclosures and Short Sales have made homes available at prices not seen since about 2003.
Most First Time Home Buyer programs are available to home buyers who have not owned real estate for the previous 3 years. The low rates make home ownership very competitive when compared to paying rent.
Additionally, the mortgage interest tax deduction will help you make your mortgage payment. Home owners are entitled to an additional tax deduction for federal taxes for each $2,000 of mortgage interest paid. Further, local real estate taxes are also deductible.
Here is a question and answer that you may have thought about:
QUESTION: I’ve been advised that an FHA loan is a good option for us now. We have reasonable credit but not very high credit scores. Also, can we get closing help with an FHA loan?
ANSWER: FHA is hard to beat right now.
Rates are going down! Consider for the last few years rates have been good, but with the recent 1/2 % or more drop it is helping clients buy more house for the same payment.
Remember buyers can receive up to 6% of their purchase price from the seller to go towards closing costs, escrows, and rate buy downs.
You, with my help, could negotiate a 5 or 6% seller contribution. This not only goes towards your closing costs, but helps give you a lower interest rate and payment for the years that you live in that house.
Using my real estate services is key to this savings. To do that, please contact Linda Greco with Integrity Realty Group, LLC. in Bel Air, Maryland at 410.838.1266 ext. 122 or LindaGreco@mris.com
KNOW YOUR PRICE RANGE BEFORE YOU TOUR HOMES FOR SALE
Before touring homes for sale, it’s a good idea to know your price range. To do that, please contact Shane Hancock with Newport Shores Mortgage at 410.569.3262 ext. 119 Shane@ShaneHancock.net
In the meantime, please sign up for our Market Watch program which allows you to search homes and sign up to receive listings that meet your criteria. Simply visit http://www.harfordcountyrealestatesearch.com/ to search for homes in Harford County and surrounding areas. You will also find lots of helpful information at this site. The information you submit is confidential and is never sold!!!
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