I have noticed that combining the prices of homes in the last 4 months with the great interest rates available, that owning your own home is more affordable than ever!
Interest rates are not always going to be this great, and in fact they are slowly starting climb. Every day brings a slight fluctuation in the rates, and when the market stabilizes, these low rates will be a thing of the past.
The cost of getting an FHA loan is also going up; according to the The Associated Press, Alan Zibel (08/05/2010), the current rate of .55% will raise to .9% of the total loan. This translates to about $38 a month extra on a $170,000 dollar loan.
Now is the time to take advantage of the low interest rates and housing prices. The costs of a loan are only going to go up and with a fixed rate loan you are guaranteed protection against the rising costs.
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