This is a great time to purchase a home or refinance! Last week Freddie Mac saw mortgage rates hit record lows, according to their Primary Mortgage Market Survey. Although rates bounced up a little toward the end of the week on positive employment data, rates are still near historic levels.
If you have been renting for a long time, now may be a great time to make the move to homeownership, locking in these historically low rates for years to come. If you would like to buy a house but lack a lot of money for a downpayment, you may want to think about getting an FHA loan.
Many people feel that homeownership is out of reach because they lack the 20% down payment that is often required by traditional lenders. The good news is that FHA-insured mortgages are available with down payments starting at 3.5% of the purchase price of the home. If you have a good credit history and a solid job, you might qualify for an FHA mortgage. There are also special rates/programs for owner-occupied investment property. Call me today at: 714-290-5360.
Right now we are offering qualified borrowers 30-year fixed rate FHA mortgages at a rate of 3.625% with an APR of 4.975%*. If you are interested in speaking with one of our fully licensed mortgage professionals. Call 714-290-5360 and I can have you speak with a specialist!
If you have an FHA mortgage with an above market rate of at least 5%, we may be able to help you refinance. The FHA’s streamline refinancing program enables FHA borrowers to refinance quickly and easily, frequently without a new appraisal. Don’t pay too much for you FHA loan, we may be able to help you save hundreds of dollars per month on your home payments.