The current trials and tribulations of the home mortgage market stem from a re-pricing of risk (impacting the financial institutions and institutional investors who bear the risk for home loans). There is no shortage of mortgage money - this is not the case; as you have seen on television and/or on the internet, there are lenders desperate for customers. The major concern is that some kinds of customers are no longer eligible under the new rules, and others who remain eligible must now pay a much larger premium over the best price than was available in the past couple of years.
Strategies for first time home buyers to consider include taking 401(K) and/or IRA dollars to use toward the down payment on your home. With two wage earners you could easily make up to $20,000 available toward the down payment on your home purchase. Be sure to check with your tax preparer, the withdrawal of funds for your home purchase still requires you to pay taxes on these dollars that were exempted from your taxes when you placed them in your IRA or 401(K).
Maricopa County Home in 5 Bond program currently has funds available for families who meet the financial criteria and the 5 percent helps you with closing costs for a First Time Home buyer. First Time Home buyer is typically defined as one who has not owned a home in the past 2 to 3 years.
As you are aware, there is a wide selection of homes currently available for your consideration and I would be delighted to make arrangements for you to visit any that have caught your eye. A wide selection of available homes, added to interest rates that remain at historic lows make this a spectacular time to purchase your home.
Looking for suggestions on a lender to assist you with the financing of your home purchase? I have and continue to work with local lenders, who welcome the opportunity to assist you with your home purchase and will be pleased to share their contact information with you,
Please give me a call or simply respond to this email with any questions and/or for any assistance you might find helpful at this time.
Phyllis Borchardt
Award Realty
15332 W Bell Rd, #112
Surprise, AZ 85374
Comments(0)