Are you thinking of buying a new home? Now is the time, interest rates are near the all-time low (for rates tracked by Freddie Mac), if you have a solid credit rating and are able to put 20% dow. 30-year fixed rates last week were 4.94% with 0.7% upfront for points and fees. A POINT is equal to 1% of the loan, so 1 point on a $300,000 loan will cost the borrower $3000.
The lowest rate recorded by Freddie Mac was 4.78 with fees and points at 0.7%, recorded in April of 2009. By comparison, the same loan was 6% one year ago.
If you situation allows you to use a 15 year loan, rates were at 4.36% with 0.6% points, an all time loan.
Feel free to contact me for additional information or with any questions. To accurately access your ability to purchase a home, contact your preferred lender and ask to be pre-qualified.
I work with many local lenders here in Clarksville, TN that will be more than happy to work with you.
Call anytime or text me on 931 801-3348
Janie Masterson is a Realtor in Fairhope, AL working for Colony Homes, LLC. Colony Homes builds custom homes in Baldwin and Mobile Counties in Alabama and homes in Pensacola, FL. With Janie, "Souhern Hospitality is On the House"
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