So with the Stock Market doing so well....Interest rates WILL go up in this next year! NO doubt about it.
Last Year at this time FHA rates were Appx 3.25% with a 80 credit score.
Today they are Appx 4.375 % FHA loan with a 680 credit score! And rates are anticipated to rise up gradually by the end of the year.
What could a 1.12 % Hike do? Glad you asked!
As an Example, In order to keep a Monthly Payment of $1335, The price of the home you would buy would go down. So now you could afford a $280,000 home, and when rates go up again, you may only be able to purchase a home at $248,000 . There is a big difference
It is more important now than ever, to have a good Real Estate "Consultant " in your court, as well as a good Lending Consultant!
Working closely with Carrie Hughes of Peoples Mortgage has given me the ability to have more knowledge to
pass on to you, the consumer. After all....It is about YOU!
Please reach out , we can meet the discuss your buying potential and even help repair credit to get you ready to Purchase your new home before rates go too high!
And ask bout the down payment assistance programs available should you need it!
Julie Bridge, EPIC Home Realty 602-339-7187
Carrie Hughes, Peoples Mortgage 623-680-9046
Author:Julie Bridge Phone: 602-339-7187 Dated: February 17th 2017 Views: 2,110 About Julie: ...
Excellence, Professionalism, Integrity & Candor are the pillars of our values. We are a full service brokerage to service the community and our agents. We provide our agents all of the systems and services they need to give excellent P.Q.S., Personal Quality Service, to each and every client. Our agents are in business for their clients and their best interests. We are in business for our agents and their best interests. We have developed a full service system that allows agents access to every bit of the latest technologies, management systems, marketing pieces & tools, streamline listing services, and agent concierge all backed by an enormous amount of EPIC training that is relevant and current to today's market. We bring this full circle by adding a dedicated management team focused on nothing but the improvement of our agents and their business. We truly want to make a difference in our agents lives as well as their clients. We give each person an EPIC Experience!
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