We all know it’s be a struggle these days in the real estate world but 2015 is a fresh new start, and with all those new goals we have in mind, maybe a new home might just be a great starting point. If you’ve been shying away from a new home because of the real estate market, you might want to change your mind while you can:
Thank you Fannie Mae! Like a long lost friend we are finally getting back in touch with great opportunities like lower down payments!
“Prospective buyers have another reason to high-five Fannie and Freddie: They’ve recently agreed to get behind loans with just 3 percent down. That lower benchmark, coupled with loosening credit standards, will likely help more first-time buyers enter the market. – 10news”
The rates are still low and seem to be pretty steady. You won’t have to worry about a huge rise in mortgage rates, and all though they are stating that don’t see a huge increase anytime soon, I’d still lock in those rates while you can!
Home loans are going to be a little easier to get. The Urban Institute estimates more “normal” lending requirements could mean an additional 1.2 million home loans every year.
Let the new year bring in new amazing options!