Experts say the market meltdown has resulted in declining Home Sales - but how far and long will Home prices fall are open questions.
So does that mean it's a good or bad time to buy a house?
It depends. While mortgage rates are attractive, lenders are increasingly picky about borrowers in the aftermath of the subprime mortgage crisis. Many lenders require larger down payments (at least 5% or 10%) and higher credit scores to qualify for rock-bottom interest rates, which could make it harder - or more expensive - for consumers with shaky credit to take out loans. Use our Private funds to flip Short Sales & REO's we also have access to dowm payment assistance.
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"If you've got an opportunity to get a loan in this market - if you can make it over all the hurdles to get access to financing - then yes," it's a good time to buy But, "it's also a know-thy-lender market, as firms are closing doors and disappearing, so it might not be a bad idea to have a second source of funding available in case your deal falls apart." That advice is especially important for consumers with less-than-stellar credit.
Craig C.
Diverse Capital
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