Freddie Mac has announced mortgage rates have hit new record lows with the average 30-year mortgage rate being 3.84%. No, that’s not a typo. It is 3.84%.
I’m currently representing a buyer on the purchase of a new construction home in the Woodlands and the terms of their mortgage are 0.8% origination fee with a 30-year fixed interest rate of 3.8%. These are FABULOUS interest rates which makes for a great time to either refinance or buy a Spring Texas home.
If you can get pre-approved for a home loan but don’t want to deplete your entire savings, you do have options. You can negotiate with the sellers to pay some or all of your closing costs and prepaids reducing your out of pocket expenses. If you need help with the down payment, you can ask your parents for the money.
Purchasing a Spring Texas home can still be within your reach. Rumors of 20% down payment requirements are just that rumors. They are NOT true. Behind a VA loan which has a 0% down payment, a FHA loan has the next smallest minimum down payment requirement of 3.5%.
If you are ready to take advantage of these ridiculously low interest rates, call us at 281.300.3141 or 281.804.8626. We are ready to help you find the ideal place for you and your family to call “Home” in Spring Texas or the Woodlands.
One of the Very Best in the Business.My wife and I met Jill as we prepared to place our first... read moreOne of the Very Best in the Business.My wife and I met Jill as we prepared to place our first house on the market and began to look for a new home in the Spring area. I've worked with agents in the past with whom I've been less than impressed, but Jill is top-notch. She is punctual, thorough, and patient. She has an almost encyclopedic knowledge of the market, the builders, the school districts, the MUDs, and the neighborhoods. For the sale of our home, Jill took us step by step through the preparations necessary to get our house ready to show: everything from rearrangement of furnishings to referrals for handymen. When we started viewing potential houses to buy, I was amazed that Jill not only knew everything about the house she was showing me, but seemed to know details regarding all the neighboring houses as well. For the closings, Jill was an extra set of eyes, ensuring that the paperwork was in order. She also made sure that the the closing was at a convenient location and took as little time as possible (less than an hour in both instances). All throughout the process, Jill remained a driving force, constantly ensuring that inspection reports were being rendered promptly or that the mortgage provider was keenly aware of the closing date; and I received a steady stream of email updates from her. I couldn't be more pleased with her, and in the event we're once again in the market for another home, she would be my first call. read less