NJ First-Time Home Buyers

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Mortgage Rates to Be Thankful For

Mortgage Rates Drop  Female Red-Bellied Woodpecker
Finally, some good news for the mortgage industry! The Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS).  This has caused interest rates on 30-year fixed rates to drop below 6.00%.

If you have been on the fence about buying or refinancing a home, now is the time to act.

Is This A Recipe for Your Success?

  • Rates are very low and home prices in many areas are stable, at and around 2003 levels.
  • Reports from earlier this month showed an increase in pending sales in Gloucester County, NJ.  
  • Energy prices have dropped.
  • First-Time Home Buyers will receive a $7500 tax credit if they purchase a home right now.
  • 100% Financing available on many homes.
  • FHA minimum downpayments are going up .5% come January 1st

I think you'd be hard pressed to find a better time to buy.  Let me offer you some great tips on how to reduce your closing costs and get into a home for the lowest amount possible. 

IF REFINANCING <<< >>> Don't wait until next week. Rates can be (and have been lately) very volatile and this opportunity might not survive even a few days.  

Whether you are looking to buy or refinance, call me today. I'm here to help.  ~ Steve Kappre

Steve Kappre  -  Treasury Mortgage  -  856-419-3561  -  www.stevekappre.com

More information on:

Reverse Mortgages

100% Financing in Gloucester County

Comment balloon 1 commentStephen Kappre • November 26 2008 07:23AM

Comments

This is certainly great news... I was listening to CNBC this morning and I thought I heard another drop today.  One of our buyers that was on the fence already submitted an offer in the last 2 days.  We are in the process of trying to wrap it up.  It was the decrease in rates to get him off the fence.

Posted by The Somers Team, Real People. Real Dreams. Real Estate. (The Somers Team at RE/MAX Access) about 10 years ago

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