Today’s HOT news item:
By now, you may have heard about historically low interest rates. This IS true. FHA started in 1934 with a mortgage interest rate of 5%. From 1939 thru 1950, that rate was a stable 4.5%. The highest FHA rate was in 1981 at 17.5%. Today, that FHA rate is 4.25%!! What this means is a 30 YEAR FIXED RATE payment on $180,000 loan is less than $900.00/month [Principle & Interest] Toss in taxes and insurance and it still is less than rent. Better than that is how amazed you’ll be to see what $180,000 – $200,000 will buy in today’s market! In addition, this rate is available for rate/term refinancing to lower monthly payments or your loan term to 15 years! The savings can be huge. Call me for more information and please pass this along to family and friends.