Thirty-year mortgage rates recently fell below 4 percent for the first time in history. But that’s not the only good news for home buyers. Monthly mortgage payments are also at record lows. A home buyer purchasing a typical American home at current average rates would have a mortgage payment of just $698 a month, similar to payments buyers would have faced 30 years ago.

Low interest rates make now the best time to buy!

Home prices were considerably lower in 1981, but mortgage rates were a staggering 18 percent. Today’s prices are higher, but because of these record low mortgage rates, monthly payment obligations are significantly reduced.

In the local Battle Creek market, the popular loan programs of FHA, VA and USDA Rural Develop remain.  These government loan programs offer first time home buyers a chance, despite what one hears in the media, to buy with little or no money down.  The underwriting guidelines make it difficult for some buyers with difficult credit histories, but for the most part, a prospective homebuyer with a sound job, decent credit scores and some cash reserves can buy a home in today’s market.

The opportunities for getting a good deal on a home still runs strong.  Buying a home at this time could be said to be the best time in history when one combines the advantages of the low interest rates, and low home prices.  There is also still a ready abundance of available homes for purchase, and the deals are still out there.

If you are considering making that important step towards homeownership, give me a call at 269-441-8182 and I help you start on your way in the Battle Creek or Calhoun County market place.  Buying a home does not have to be a daunting task, and as a Realtor, I work with people to take them through the steps necessary to arrive at their goal.  Now is a great time to buy!

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