These are exciting times to buy a home, just ask a Century 21 Mortgage Professional

What is exciting about home loans in this market today?

Juan Herrera, Century 21 Mortgage Professional in Stanislaus and Merced Counties says, “We are at the bottom of the market with good prices and good rates. Buy now before the mortgage rates increase.”

Furthermore, Herrera says, “There are two very popular loan products that offer No Down Payment – USDA and VA, great for first time home buyers. In fact USDA requires No Down payment, no mortgage insurance and is available for first time home buyers in rural towns.”

Dave Will, Century 21 Mortgage Professional in Solano County says, “With lower prices and lower interest rates, now is an exciting time to purchase a home – especially for first time home buyers and people that thought they could never afford a home.”

“Historically it was exciting when a home buyer could get a rate as low as 6%. Today, 30 fixed mortgage rates are at about 4.5%.  With interest rates in the mid 4’s, don’t wait until they are in the mid 5’s.” said Will.

“These days, a buyer with a FICO score of 600 can get a home loan without penalties,” says Will, “and lenders are a lot more flexible with Short Sales than they used to be. There are a few more REO/Foreclosures available this year, but otherwise the market seems to have hit the bottom, and even though it is a bit soft, I see improvement.”

Overall, this is an exciting time for first time homebuyers. With home prices dropping, low interest rates and reasonable loan products, people who may have thought they could never own a home – can purchase a really nice, affordable home.

Call a Century 21 M&M Mortgage Professional today to get pre-qualified in order to purchase the home of your dreams. You may be surprised at how easy and affordable it is to own your own home.