Buying a home in Murphy, Plano Richardson, etc? You'll likely need a Mortgage.
So what's up with mortgages today? Keith Bazzell at Integrity Mortgage in Dallas tells me that rates are holding strong and should be promoting some good growth in the economy. Bazzell says that 30 year fixed rates on FHA and Conventional loans are right at 5% with a couple of recent days actually dipping into the high 4’s and the 15 year rates are in the 4.25% range. Now more than ever, these rates are subjective based upon credit scores, down payment and loan amount due to investors changing their risk assessments. Overall these should be good incentive for you.
Also, Bazzell reminds us that the First Time Homebuyer and Move-Up Buyer loans are drawing closer and closer to an end. Contracts on homes in Murphy, Richardson, Dallas, Plano, etc. must be in place by April 30th in order to take advantage of these programs! So far there hasn’t been a push to extend this any further.
For folks interested in more info, Mr.Bazzell is available by phone and email and also points us toward a long but good read about the housing market (Review Housing Market Indicators.).
Your Broker Matters!
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