First Time Homebuyer's may be in for some good times!

Don't give up the ship yet, home ownership is the still the single most profitable investment out there (not counting the last 4 or 5 years of course) but the pendulum is starting to swing in the other direction, the worm is turning, and the cycle is starting to move for you to invest in your new home.  

It's the perfect storm!  Home prices are very reasonable and 30 year interest rates are in the 4's; and there are programs out there allowing for home ownership with very lenient guidelines.

For example the government's FHA Mortgage (that has been around since the 1940's) allows you purhase a one, two, three, or four unit home for as little as 3.5% down.  If you don't have the 3.5% down then FHA will allow any blood reletive to "Gift" you the funds.

Come on Parents! It's better to donate some deposit money ($10,000.00) helping your young adults in a life time home, then springing for those ($50,000.00) four hour weddings.  Right? 

An FHA program will approve you for a Mortgage after only 2 years of being dismissed in  bankruptcy court and with credit scores as low as 580.  Of course you have to qualify financially and evidence you are employed, but believe me thay are not looking for your first born...and yes, the rates are still in the 4's.

The mortgage business is much more then about rates; in my daily blog I'll be disclosing mortgage facts and changes that are taking place on a day to day basis basis that everyone really should know about.  I look forward to hearing your thoughts and if you'd like me to cover any Mortgage Subject in my Blog please let me know.   

My office is located at 19 Hull Street in Wenham and in the spirit of  community service i'll always be available to answer your mortgage questions!  

Feel free to email me: Arthur P. Ingemi art@sierrabeverly.com or 978-232-0008.    www.sierrabeverly.com