30 year fixed rate mortgages are set to become easier to obtain and priced better. The much talked about economic stimulus package has cleared the necessary hurdles, and the president is ready to sign off on it next week. What does this mean to you?
It could mean a whole lot. It could mean the difference between qualifying for a loan and not. It could also mean a much lower rate, better terms and even the ability to buy a more expensive home with 100% financing. This is the best thing to happen to the real estate market in some time, and is a huge opportunity for both existing homeowners and potential home buyers.
If you are an existing homeowner, and have been having difficulties qualifying for a refinance, now is the time to get back in the saddle. Higher loan limits are on the horizon, which means expanded approvals for loans that used to be jumbo, but can now be classified as conforming. Also, if you are a potential home buyer, it means you can re-qualify, possibly for 100% financing, on a larger loan amount today. Get in touch with your real estate agent and mortgage professional today to see what this exciting opportunity can do for you!
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