Hilde's Mortgage Blog

In all the current housing and mortgage tumults we are actually in exiting times.

1. First time home buyers are eligible for a tax credit up to $7,500 (income and dead lines apply)

2. The recent government bailout of Fannie Mae and Freddie Mac seems to have a very calming effect on rates. It is expected for mortgage rates to drop some and then remain relatively low for the near future.

3. The falling oil price seems to have a calming effect on inflation fears, which is also good for mortgage rates.

4. Low to no down payment options are still available via FHA, HUD184, USDA and VA loan types.

5. Sellers seem more motivated to negotiate.

If you had been considering buying your first or your next home, now is the time to get ready and prequalify so you are prepared to make the next move quickly before somebody else beats you to it.