First Time Home Buyers can still take advantage of the Ameri-dream program until October 1,2008. This program is a true NO MONEY DOWN program.
How it works:
The seller will give up to 6% for your downpayment which is included in the purchase of the property. You can still ask for closing costs up to 3% of the sale price.
This is still around, but WILL NOT be long.
If you are serious about buying your first home this year, it really, really, really is time to get moving! I am not just writing this to "sell" you, here are the facts:
1. Interest rates will rise and are already one full percentage point above last years average rate!
2. Home prices are down. Some experts predict that home prices will stop declining by next year.
3. Mortgages will be tougher to attain. Lenders are very strict (and eventually will want your first born if you want to buy a home) ( okay, that's not true), but the banks are pulling programs left and right, disqualifying buyers. So for your own sake, don't wait to buy your first home.
4. Lots of choices. There are still many homes in good condition on the market. Don't wait until all that's left are fixer-uppers that thousands of dollars worth of work.
5. If you choose to wait, you may be saying "shoulda, woulda, coulda", next year.
Lori Lincoln- your local Realtor in the southcoast area of Massachusetts. Helping buyers and sellers in Taunton, Fall River, Swansea, Somerset, Dighton, Assonet MA and surrounding communities
Call Lori today for professional service with "can do" attitude