Good News in the Mortgage Industry!

It's not all bad news in the mortgage industry. It really depends on how you look at things. I know, you're probably thinking, "I just heard that Wall Street is falling apart", or "I just heard on the news that there are a record number of foreclosures". While this is true, what does that mean for someone looking to buy a home or for anyone who is looking for ways to cut down on their bills? I have great news! Keep reading...

1. Mortgage Rates for both conventional and FHA loans are extremely low! This means people who currently own homes, now have a way of refinancing into a lower payment, paying off debt and saving money all around. For anyone looking to purchase a home, they can now do so with a fantastic interest rate.

2. Mortgage Rates for jumbo loan amounts are finally lower now than they have been for a long time.

3. Buyers, this is for you...Thanks to all of the foreclosures and short-sales, you can pick up a home at a bargain of a price! In most cases purchase the home with little money down and move in with equity already in the home. This was hard to do a few years ago.

4. For current home owners...If you are in a neighborhood that has foreclosures or short sales going on, like I am, chances are, your taxes will go down because of lower assessment values! How cool is that, your monthly payment on taxes could go down! Not bad if you have no intentions of moving out in the next couple of years.

5. For first time home buyers...The government is now allowing a sizeable tax credit. What a great way to increase your chances of getting more back at the end of the year.

There you have it, a few good things that are currently available in our mortgage industry. I'm sure there are many more reasons, but these are the ones off the top of my head.

More to come...

Dennis Noonan

Sr. Mortgage Profesional

Axia Financial

360-600-5580

Email: dennis.noonan@axiafinancial.com