Ok so were not billionaires, doesn't mean we can't think like one. While we sit here and believe all the media hype about how bad the economy is, buffettologist's (yes thats what they call themselves) are like kids in a candy store. Like all things this to will pass. If you can see the forest through the tree's you would likely see some positive results in the next two or three years from the stocks you bought today at bargain basement prices. Well the same is true for real estate. Now don't get me wrong, I too feel the gas pinch and I am sympathetic to those that are struggling to pay everyday expenses, however misery does love company and I won't be a part of it.
Here are some facts:
What has changed for the better? Some bad mortgage programs that should have never been offered in the first place- 110% loans, no income, no asset loans, all of the subprime prepayment penalty loans (CenterPointe Mortgage did not offer these loans even in their highest of popularity).
So I suggest you walk into your local mortgage company and get pre-approved. Just don't over do it. Stay within your means, don't exceed a 45% qualifying ratio if it's your first home (and be smart if it's your second). Work with a mortgage planner not a application taker. Use the banks money NOT YOURS! Lets look at your future retirement accounts, do you have a plan? Keep and open mind about never paying off your mortgage and look into other safe side accounts. Did you know if you are in a 30% tax bracket and have a fixed rate of 6.5% that after tax it is like having a rate in the 4% range? Why be in a hurry to pay that back?
If the next ten years get here as fast as the last 10 years did are you prepared?
Have you been paying close attention to our interest rate ride. As the subject line suggests, what goes down must go up! What ride are you on? If your not seriously considering buying a home, you LOSE. I have been in the mortgage business for over 20 years and must say I have taken advantage of every rate drop. I now am on my 4th refinance and am happy to say I just locked in at 4.875%. I pulled out cash and will continue to build my portfolio with CHEAP money. This is as close to legally robbing a Bank that I have ever seen.
Don't sit back and wait for "the bottom" get organized and get in the game!
Contact Us | Privacy Policy | Employment Opportunity | Loan App Checklist | Loan Application | The Loan Process | Get Your Loan Faster! | Loan Application Info | Customer Login | Government Loan Programs | Get Pre-Approved! | Zero Down Programs
Copyright © 2008 CenterPointe MortgagePortions Copyright © 2008 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map