The other day, watching the news I heard a reporter say that even if you had good credit you wouldn't be able to get a loan because mortgage companies had tightened up so much. That is so untrue! I know that if you have a credit score of 650 or better you can still get a zero down loan with all your closing costs included at 5.5% interest rate or even lower.
I have a friend who lives in a rural area in Washington state that was building homes and has pulled back because he sees on television all the gloom and doom on the news. What a shame I told him, your market in your area is starving for new construction homes ! That market had a 25% increase in sales last year and there was a bidding war on the new home he completed. Know your own area, the news is generalizing that the whole country is in trouble with the housing market,not so ! The area that I cover in Eastern Washington is doing great, we still have affordable housing new jobs.,and honest lenders. So please don't let the news dictate the housing market by generalizing that the sky is falling.
Comments(0)