Many don't realize that the window of opportunity to buy nearly twice as much home for the dollar is closing. The interest rates being charged for FHA and VA loans are the lowest we have seen in 50 years. The current interest rates have been hovering around 4%. This is a low rate on the type of mortgage used to finance most affordable homes in Florida. This great rate combined by prices that have been reduced to 2003 or 2004 prices, creates a net effect of the average borrower being able to have nearly 2X the buying power of just 4 or 5 years ago.
When rates go up and if inflation picks up then these super low mortgage payments will end.
"If inflation picks up you won't see these mortgage rates again in your lifetime" Brett Arends of The Wall Street Journal Sept 16, 2010
It's time we spread the word, get everyone who doesn't owe a home to buy one. Right now you can lock a low mortgage payment for the rest of your life.
“If you don’t own a home, buy one,” Paulson said, “If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”
http://www.forbes.com/sites/joshhelmin/2010/09/29/urgent-advice-from-billionaire-john-paulson-buy-a-house-and-gold-plus-rupert-murdochs-pay-cut/
Act now before it's too late.
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