Interest rates hit best levels since May of 2013… Approaching 3.875% on the 30 Yr.
Please join us on Saturday, October 11 from 12:00 til 3:00 pm for our Model Home Grand Opening Carnival at the beautiful Highlands in Lindon, Utah. There will be drawings for an iPad, live music, bounce houses and snowies! Hope to see you there!
In a survey conducted by Wells Fargo in June of this year called, “How America Views Homeownership” it was found that, “Americans still view homeownership as an achievement to be proud of and many believe that now is a good time to buy a home.”
Although the majority of Americans have a desire to own their own home, many surveyed gave answers that suggest they may not be aware of all the options available to them for buying a home. There are a wide variety of financing opportunities for potential home buyers, such as down payment assistance, grant programs for down payment, FHA loans, VA loans and physician loan programs. Here are few myths you might not know aren’t true:
- MYTH: 30 percent of respondents believe that only individuals with high incomes can obtain a mortgage.
FACT: You do NOT need high income to qualify, debt to income ratios up to half your gross monthly income are still available with some loan programs.
Our friend and colleague Emily Osguthorpe Moore talks about construction loans in her latest newsletter. Since we get lots of questions about the financing to build a new home we thought we’d share what she wrote. Emily is a great Realtor and is expert at guiding her clients through the construction process. If you are contemplating building your dream home, please watch the short video below and call with any questions, or click the chat link above and we’re happy to help.
Making the decision to build a new home can be daunting. Many clients don’t know where to start and are weary of making a mistake. Don’t let this scare you, if you simply choose to work with the right professionals, you can leverage their experience and virtually assure yourself of a positive outcome.
One of the first things you should consider is how you are going to pay for the home. If you are going to finance, then you will need a construction loan. There are two common types of construction loans, they are the one time close and the two time close.