financing: "Interest Abatement" for new homebuyers --- what do you think? - 12/09/08 11:28 AM

As a variation on a theme to help affordability with a home purchase, this is an FHA approved program where the home seller pays a fee to the lender of 3% at closing and the lender directly applies it to the interest payment for six months. So, for the first six months, the new homebuyer only has to pay the scheduled principal, taxes, and insurance. On a $200,000 home, that represents a $1,000 smaller payment for the first six months - interesting! Now the buyer has to qualify at the full payment but for buyers on the fence, that could … (1 comments)

financing: A 4 1/2% rate? - 12/08/08 11:22 PM
The US Treasury just announced that they will subsidize private markets during the first quarter of 2009 so we will have 4 1/2% true interest rate for home purchases. Obviously, this will help the market, but is it enough to actually get people off the fence? Many other issues remain ....  downpayment being one and sellerswho are upside down in financing being another. What do you think?
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George Hart

Marietta, GA

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Address: 3600 Mansell Road, Suite 450, Alpharetta, GA, 30022

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