Whats NEW in Mortgages Today

2010 has been a very interesting year in the mortgage industry. The market is still very active considering the massive amount of short sales and foreclosures that are happening all around us each day. Home prices are at all time historic lows and interest rates are VERY low as well. When homes are priced the way they are and rates are just to good to pass up, homes tend to sell for some reason. It is a very good thing that consumers can purchase real estate at the prices they have been selling for. Where else in history have you been able to purchase a 4 bedroom, 2 bath house for less than 50K? Grandma and Grandpa's house don't count either! There simply has never been a time so amazing to be a homeowner.

Rural Development was one of the last true "100%" financing loans that were left available for homeowners in 2010, but they ran out of funding in May of this year.  Congress already passed the proposed additional funding so the program could continue. Without RD loans, lending would certainly have slowed down as many potential homeowners still struggle with coming up with a down payment on a home. Rural Development insures that is no longer an issue.

If I had to provide some good advice moving in to the summer of 2010, it would be to simply NOT HESITATE! Home prices are just to low to ignore not buying. Interest rates are just to low to say you will apply later....why!?! Rural Development was almost left without any funds to close loans and the funds were dried up by May?!?! Waiting a minute longer than you have to only means you are risking, quite frankly, a LOT! The "great" deal on a home could be sold, the interest rate you "think" you can get will be long gone, and thinking Rural Development or other great Government lending programs will "always" be here for you just isn't prudent thinking in this market.

Don't wait to make a choice. At the bare minimum, you need to Get Qualifed for a home so that when the time comes and you do find that home that meets you and your families needs......you are READY. Each and every day we make that happen for potential home owners. Shopping with confidence is easy when you use our professional team of loan officers ready to serve you and your family.