NCHFA Announces 5.99% for First Time HomeBuyers For a 30-year, fixed-rate conventional mortgage with a 90-day lock in! NO POINTS!

For the longest time, the North Carolina Housing Finance Agency (NCHFA) was offering rates that were comparable to or in some cases greater than the then current market rates! In some cases they were up to ½ percent higher than a regular agency loan. It didn't take a mortgage expert to realize there was no value in the higher rate and the potential recapture to the borrower. 

NCHFA has finally responded to the market and late June slashed their rates on all of their programs by ½ percent. For example; today if you were to purchase a home in Wake County and are a two person home and your household income is less than $74,000, you may qualify for USDA, FHA or even conventional loan for only 5.99% fixed for 30 years! If you were to purchase an eligible home using a USDA Guaranteed Loan, you could purchase that home with NO MONEY DOWN! If you were to compare that rate to the present market that rate will cost you nearly 4% or 4 points in today's market, or $4,000 in up front costs at closing for eavery $100,000 financed!

There was a time when you wouldn't even consider a bond loan to finance your home because there were many other loans to choose from that didn't have strings attached, or so it may have appeared then. Today with the mortgage choices shrinking and mortgage rates rising, you should look at every mortgage option available to make sure you choose the mortgage that is best for you and your long term financial goals. Call me today and I will help you analyze your choices.

Ricardo Cobos

Mortgage Banker (919) 559.3384
Http://findRDUhomes.com
Apply on line at http://www.ncmc.com/RicardoCobos