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My name is Scott White, and there has never been a better time to be a first-time home buyer

Mortgage and Lending with Land Home Financial Services, Inc. 82835

I tell everyone I know, "there has never been a better time to be a first-time home buyer." I believe it and I'm pretty sure the facts back me up.

Rates are currently below 6%. As of this morning, they are back down around 5.25%. In the past 20 years, there have only been five where we have actually seen that, 2003, 2004, 2005, 2008 and 2009. The only other times rates have been lower than 7% were 1993, 98, 99, 2001 and 2002. Anyone waiting for rates to get lower is simply going to miss the boat. Its a big boat but you can expect that it is probably going to be shipping out soon.

Why should we expect higher rates? The federal government is currently doing their best to keep interest rates low. They are doing this by buying billions of dollars in mortgage-backed securities. The problem is that they simply can't continue to do this indefinately and we can expect that at some point, we are going to see this spending end and rates rise and not recover.

The federal government also wants to give you, the first-time  home buyer, up to $8,000 just for buying a home. It comes in the form of a tax credit which never has to be repaid! All you have to do is be a qualified first-time home buyer before December 1, 2009. Its a relatively simple program, but, as with any tax-related question, I recommend that you consult a qualified tax advisor or legal professional about your unique situation.

Finally, home prices in Wisconsin, while much less volatile than national markets, have fallen to levels not seen since 2004, and are still spiraling downward. This means that homebuyers at all levels can make the most of their buying power.

Making excuses to buy a home, in today's market is not a wise financial choice. If a person has the budget and the desire to take this step, there has never been a better time to be a first-time home buyer.

If you or someone you know would like a free consultation from a first-time home buyer specialist, do not hesitate to contact me, Scott White, Senior Mortgage Consultant at Imagine Home Lending. Call 608-779-3100 or email me at scott.white@imaginehomelending.com .

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Scott White | Mortgage Loan Originator | Equal Housing Lender | Personal NMLS # 82835 | AMEC NMLS # 150953 | AMEC Branch NMLS # 844359

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