The Mortgage Blog

So now that we reflect on the Tax credit that has been not only extended but made available to step up buyers, what happens after April 30th when it expires?  Along with the Governments decision to back away from purchasing mortgage backed securities which will come into play March 31st?  Some say good bye to the low rate environment we have been in for the last 5 years, while others think this is good.  Fannie Mae and Freddie Mac finally "get it", meaning no more zero down programs, no more stated income loans, and no more subprime lending.  So if your wondering where does that leave you, this is my opinion.  Are you now paying rent? If so, how much? Are utilities included? Is your Landlord "cool"?  Are you concerned about write off's?  Do you want pride of ownership? Do you like your neighbors?  Are your parents "buggin" ya? 

I think you know where I'm going.  Even if you miss out on the tax credit I believe that owning real estate is the best thing a young person can do.  My first home came with a mortgage rate of 11% but I was still able to afford it (thanks to some great roommates) and I loved owning and entertaining in my own home.  It is an experience everyone needs to feel at least once in their lifetime.  Only then can you decide if home ownership is cut out for you.

So seriously, you really have to take advantage of home prices today along with the low interest rates.  It is a buyers market and you need to jump in.  Looking back, you will have great memory's and I hope to read about them on your blog.  Call me to get pre-qualified today, remember at CenterPointe Mortgage pre-qual's are always fast, easy and free!