Record Low Interest Rates
The news out of Washington is just what we need to hear. Interest rates are at an all time low! If you are remotely interested or even just curious about buying a home, now is the time to satisfy that curiosity. Last week mortgage lender Freddie Mac announced that the average rate on a 30-year fixed rate mortgage dropped to 4.78 percent from 4.84 percent just a week earlier.
This is by far the lowest level since early December 2009, when rates fell to a record low of 4.71 percent. For home buyers, purchasing a new home has never been easier. Read more in this article, “Mortgage Rates Sink to Lowest This Year.”
The government continues to find ways to pump money into the new home industry to keep the economy moving. There are several new down payment assistance programs that help buyers with low income, achieve a home of their dreams.
Often times, buyers imagine they need thousands of dollars to put down and perfect credit in order to build a brand new home. The government has made buying much easier now. There are even loans for buyers who have never had credit before and often these buyers find their payments are lower than their rent. The government is interested in keeping the new home industry thriving, so in order to do so, they have created several opportunities to help buyers build a new home.
One program that was released just in May of this year provides nearly $30,000 for first time buyers to use in building a new home. This money can be used for down payment of closing costs. There are certain requirements, but for the first time buyer, most will be able to fit those requirements.
With the record low interest rates you can own a home for less than renting , so what are you waiting for?
Contact Highland Homes now for more information . We build all over central Flordia including: Tampa Bay, Orlando, Lakeland, Winter Haven, Davenport, Auburndale, St. Cloud, Zephyrhills, Leesburg, Bartow, Ellenton and Riverview area. Visit us at www.highlandhomes.org or call 863-619-7103.
Please share this post with your friends!