Wednesday, January 14, 2009

Home Buying On Your Mind?

Have you been waiting to buy that first home? Are you ready to move up because your family is growing but don't think you can sell your current home?


Some reasons I've been hearing are:

"Interest rates aren't changing enough for us to afford a house."
"I don't have much of a down payment."
"The timing isn't right."
"Not a good time to try and sell our house to be able to move up"


Interest rates are falling, yesterday (Jan. 13, 2008) there were rates in the Dayton area for as low as 4.50% for a 30 year fixed and even lower for 15 year loans.

FHA loans often require less of a down payment, as low as 3% of the loan amount. The federal government is offering first time home buyers up to a $7500 tax credit to be paid back over a period of 15 years, interest free! Sellers are sometimes willing to pay closing costs and or help with the down payment.

The time to buy a new house, first or move up, couldn't be better. There are still plenty of homes on the market and interest rates are approaching historic lows.

Yes, you might take a loss on the sale of your home but the savings you'll get on another could offset that loss. Remember, there are going to be more people looking.

Check with your local lender for more details on different types of loans and current rates. I can provide some resources and as always I'd love to assist you in finding that home of your dreams.

Give me a call (937-423-3316) or email ( or leave me a question or a comment. I'd love to hear what you have to say or answer your questions.

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