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Good Job? Good Credit? Buy a Home NOW!

Buyers, do you get sick of Realtors telling you to buy NOW NOW NOW? Well, this is the time to listen, because it doesn't seem like it's going to get any better than, you guessed it, right NOW.

Today's Boston Herald has a story on why you should buy now (of course, assuming you're someone with good credit and a stable job):

Rising Mortgage Rates: the Feds are going to end a $1Trillion program, and that means higher rates. Experts expect it to go from the current ~5% to a little over 6% by year end, according to the Mortgage Banker's Association.
TAX CREDIT: It's a FREE $8,000 (or $6,500 for non-1st time buyers) I mean... seriously. Buy something. You have to be at accepted Purchase & Sale Agreement by 4/30 and closed by 7/1 to qualify. Want more details on the Tax Credit? Click here.
Credit Issues: Banks aren't just giving money to anyone anymore. They want good credit, and rules are just trending stricter and stricter. Government programs like FHA have gone through many changes recently, tightening requirements both on applicants and condos & properties that qualify. More info on recent changes here.

If you have any questions about the buying process or would like to discuss your options, contact one of our dedicated buyer's agents.

Posted at 02/12/2010 09:59 AM

Categories: Boston Real Estate, Lending, Boston Residential Real Estate, Mortgage Rates

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