The time to buy is NOW If you have less than 15% towards a down payment for a Hoboken Condo!

The time to buy is NOW If you have less than 15% towards a down payment for a Hoboken Condo!

Since the government assumed control of Fannie Mae and Freddie Mac, lenders will be implementing rules slated to take effect at Fannie Mae in 2009 that mandate 15% for down payments. This will make it harder for home buyers, especially first time home buyers in Hoboken, to secure a property. In this buyer's market where property values that are in line with prices in 2005 and favorable mortgage rates of less than 6% (for exceptional credit), it would be wise to try to buy a home with the down payment that you have right if it's less than 15%, since there are only three months left to 2009.

Please let me know if you need anymore info regarding the new mortgage regulations or to see which property will fit you best.

Best regards,

Anoir