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The New Keller Williams Stimulus Plan
A few weeks ago, before and in anticipation of the poor July sales number, some of Keller Williams' best minds got together and came up with a new Stimulus Plan.  This one would not be government run and would apply to every Buyer in the market.  Here's how the new program works.
Keller Williams Realtors have many of their Seller clients paying up to 2 "points" at closing in order for a Buyer of their home to receive a "sub 4%" 30 year fixed interest rate.  Depending on the Lender and the property, the rate offered has typically been 3.75% to 3.875%.  The advantage to the Seller is increased interest in their property due to an offer of the lowest fixed interest rate in 50 years.
The advantages to the Buyer are plentiful.  First, the Buyer will save every single month with a lower interest rate.  Second, the lower rate allows a Buyer to qualify for a higher priced home.  Third, the "points" paid by the Seller are actually tax deductible for the Buyer as "interest paid" in the current tax year.  Fourth, if the mortgage is an FHA or VA loan, it is assumable to a Buyer that qualifies in ... more

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