Earlier this week, I got an email from clients I leased a condo to last year. At the time, they were saving up to buy a house, but weren’t quite ready, so opted to lease for a year.
“We’re dreading another move so soon and have been dragging our feet with leaving this cozy little apartment but it’s time to start inquiring about loans before the market gets away from us, at least just to know where we stand.”
Smart shoppers. It’s not always about the exact price of the house. Mortgage rates play into the picture big time.
Take a look at the great mortgage rate charts that Jay Thompson, the Phoenix Real Estate Guy, has just published. Good info to consider for all prospective home buyers.
{ 2 comments… read them below or add one }
Dru,
Smart indeed. Also, something to consider is the bond money program for first time home buyers(5% down towards downpayment). New money as made available late last year so there is plenty to go around. With rates as low as they are right now, its something to consider.
Twitter: drubloomfield
02.04.08 at 8:16 pm
Shailesh, First time home buyers are really at a loss as to where to look for guidance when it comes to minimizing their down payment or getting some assistance. The bond money program seems to have a few strings with it, but for those who are willing to stay put for awhile, it looks like a good program.