Mortgage Best Rate

In many areas around the country people have been sitting on the sidelines think that things are going to go lower or rates are going to go lower or many other reasons that has postponed their purchase. But the fact is there has never any time in history has there been the perfect storm to purchase real estate. It does not matter if it’s a first home, replacement home or commercial real estate the numbers are all in alignment with the stars.

The First fact that makes it the best time!

Over the years interest rates have gone up and down there has been additional cost associated with making a purchase. Since the collapse of the mortgage and real estate markets since 2007 the changes that have been put in place have worked to make easier for people to save money when buying. The fact as to interest rates as of this writing interest rates are lower today than they were in 1956 at that time the rate was 6%. There were not options at that time like this is today. We did not have 15 year or 20 year payment terms. We also did not have adjustable rates and you could not get the seller to assist you with buying down the rate. Since today there are so many options available to a person who wants to purchase you can really set down a detailed plan of financing that will fit into your budget. Today you can receive a 30 year fixed rate loan as low as 4.50% which means that for every hundred thousand of mortgage amounts you would only pay $450.00 per month, plus taxes and insurance. Now think about this that is $450.00 per month for $100,000 home plus you would receive a tax credit for the interest paid over the cost of a year.

Now the plan gets better for the Buyer.

With the decrease in real estate values over the last three to four years since the markets started to collapse prices of homes have become more affordable to many who could not buy a few years ago. Think about the prices just four years ago in many areas homes were selling for $250,000 are now selling in some areas for $70,000 to $100,000 and with the rates as low as they are you are getting a home that once would have cost a person $1,500 per month and now it cost $400.00. Do you think this makes it the perfect storm for buy real estate when prices are down and rates are at the lowest all at the same time? Of course this is why this has never be available before in history there are more choices to choose from when it comes to finding a home or investment and the cost to finance it is lower than ever before all at the same time.

For the Buyer there is a third thing that is currently in place that has never been available before in history. For the first time homebuyer today and until April 30, 2010, people who buy their first home will able to still receive up to $8,000 tax credit directly from the government. In addition; which has been added to the stimulus for the person who wants to move up they will receive up to $6,500 for making a new home purchase.

1. So add all these issues together from lower prices to lowest interest rates in history and money back from the government for buying this makes this the best time in history ever to buy a home. So get out there and start finding that home now before the storm clears and the rates go up which they will most likely go up with the next six months and the tax credit disappears. Don’t wait make it happen before April 30, 2010!   Find Out More and the Importance of having an Exclusive Buyers Broker Working for You.

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