Mortgage Update
Sarah Rumney
The Fed Chairman Ben Bernanke will be speaking at the New York Economic Club today and should echo his earlier statement that rates will remain low. Rates remain under 5.0% today and should stay within an 0.125% this week. Do you know what your current rate is? Check out your mortgage statement and give me a call for a quote. It could be the perfect time to refinance your home.
I hope the website I emailed last week regarding the first time home buyer tax credit was helpful. www.federalhousingtaxcredit.com Check out the FAQ’s! It is an easy-to-read compilation and includes different ways to apply your credit. Did you know you could reduce your income tax withholding and give yourself a raise for the year? (See FAQ #19.)
I have a great story for you all. I worked with a client just last week who called to go through the qualifying process for her first home purchase. She knew me personally and had heard about the first time home buyer credit and was curious if it would work for her. We went through the loan application and had her approved in about an hour! It all started with her figuring her rent is about the same as a mortgage payment and inquiring about the tax credit. Now she will be in her first home by Christmas! I will be glad to go through the question and answer process of qualifying and see if you could be pre-approved too. Call (910.200.3549) or email me any time.
