The dropping temperature in Minnesota seems to be following the Fed's lead on Mortgage rates!
I wanted to share with you five quick things you may not have known about mortgage loans, as of January 11, 2016.
1. Trouble overseas is not always a bad thing for the U.S. consumer. In fact, the current issue overseas has pushed mortgage rates lower.
2. Usually strong job gains in the U.S. means FED's will hike the interest rates. Contrary to the fact that U.S. job numbers saw huge growth, the economy added an average of 284 thousand jobs over the last three months and in for 2015 the United States added 2.65 million total jobs, the mortgage rates are still at a historic low!
3. The days of having to put down 20% to buy a home are long gone, for now. Most people know about the FHA programs, but did you know that you can get into those programs for as little as 3.5 % down. Some lenders even have amazing conventional programs that you can get into your new home for as little as 3% down.
4. Some lenders have programs for credit scores as low as 580! No Kidding!!
5. Short-sale's, Pre-Foreclosures, Foreclosures and Bankruptcies once had you waiting for years and years before you could stop renting and start paying your own mortgage, again. These days lenders have programs that can help you start building your own wealth, through home-ownership, quicker than you ever thought possible. *Below is an example of one of the updated programs that may be available to consumers:
*Increase in down payment and/or proof of circumstances may be required. Please ask your lender for more information. Not all lenders have the same programs.
If you have been thinking about owning a home, and did not realize there were so many options or programs out there - today may be the day, your future is here. Contact your lender, or if you don't have a lender, contact one of our preferred lenders on my website http://www.lisa.twin-cities-specialists.com
I am here to answer any of your real estate questions,
Twin Cities Specialists is part of the Re/Max Advantage Plus team, where together we are stronger in achieving our clients’ goals. What sets us apart is our use of technology, our personal and professional service, and our desire to be the best at what we do as your community expert. In fact, we will help you find a community expert in your area, if we don't have one for you, just ask. TEAM LEADER & Sales Manager for TC Specialists is LISA HANDLEY - 612-390-6520. Lisa is a native of McIntosh, Minnesota, moved "south" with her family, to where it is "warmer" and, as an empty-nester, pursued her long-time goal of becoming a top real estate agent. Lisa is a person who cares about people and will do what it takes to see others achieve their goals. Ultimately, this is what prompted her to start her own team. The Twin Cities Specialists consists of service-oriented agents and other industry professionals that will do and be the best for our clients through the entire buying and selling process. TC Specialists will be there for our clients from the very early stages of planning, pre-approvals, showings, staging, photography, negotiations, and all the way through the closings. Our mission is to treat our clients the way we would want our own families to be treated, with kindness, respect and service that goes above and beyond.
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"Michelle demonstrated exceptional service as an agent. She was always on time. She helped to identify the positive and less than optimal features of properties during showings. She was knowledgeable and professional during the entire process. I highly recommend Michelle Hanson as a real estate agent! "