Get your closing costs paid for, and other imprtant info!!!
There are a few things going on in the real estate market that I wanted to update you on. First of all interest rates recently dropped down to 5% on conventional loans and 5.375% on FHA loans. This is down a full percent from just about a month ago. This saves you tens of thousands of dollars over the term of a 30 year loan. If you have been waiting for rates to hit the bottom, you may not want to wait any longer.
Also, it was recently announced that FHA will be increasing the down payment requirements as of January 1st. Currently they require 3% down and this will go up to 3.5%. If you would like to take advantage of the current down payment requirement you must have an accepted contract on a home by the end of the month.
You should also know about the Home Steps program (a Freddie Mac affiliate) offering special incentives for buyers. They are offering to pay up to 3.5% in a buyers closing costs, if it is an owner occupied loan. Time is running out for this limited time offer. You must have an accepted offer on one of their participating homes by January 31st. I have included the homes that are part of this program below for Johnson County.
If you have been considering buying a home, wait no longer! This is an excellent time to buy. I would love to talk to you more about it so feel free to call or e-mail me anytime! I look forward to helping you.
Thanks,
Jennifer Johnson
The Gilkison Group
Keller Williams
913-314-4104