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Owning your own home is more affordable than ever! But not always.

By
Real Estate Agent with Coldwell Banker Bain

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.

Comments (2)

Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

The real estate professionals keep pointing this out to the public, but I think the public feels the prices of homes are going to continue downward.  From all that I have read prices will also move up this year, at least towards the end of the year.

Mar 01, 2011 06:47 AM
Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

Great post now is the time for home buyer's to buy our job as Realtor's is to inform the buyer's that it will not always be as affordable as it is now.

Mar 01, 2011 06:57 AM