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Save Money Buying a Home BEFORE January 2009!

Hello Bloggers, thanks for stopping by today. Just a quick reminder that beginning Jan 1, 2009 – many things will change. Here is a change that will affect your pocketbook if you are considering buying a home and financing through FHA in the next few months. This is timely information straight from our favorite lender, Tom Deadmore of WR Starkey Mortgage. Call Tom directly with any questions at – 919 625-1935 or e-mail tdeadmore@wrstarkey.com . Tom says:

“Currently FHA mortgages require a 3% statutory investment from the borrower. That 3% can have a portion go towards the down payment (2.125% ) and the remaining funds can go towards closing cost. As of January 1st, 2009 the minimum investment required by home buyers will increase to 3.5% for the borrower. In addition to the increased investment required, the whole 3.5% will be required to apply to the down payment. This means that if the seller is unable to pay all of your closing costs, then you will have to bring additional funds, over and above the 3.5% required, in order to finalize yr home purchase.”
This is important information that will help save you money. If you would like to know how to find the very best home investment for your first home or your 10th home –call us today. In our current market, every home looks like a “deal” but few homes really are a smart buy. Please call us or e-mail to schedule a smart home buyer consultation. We’ve got all the details to help you find a really great home that is also an excellent real estate investment. If you are buying a home in the area of Raleigh, North Carolina and/or Cary, North Carolina. Call or e-mail us today for this valuable resource. Call Marti @ 919 601-7710 or Marti@MartiHampton.com
Remember, go buy some real estate – it’s “on sale” today. God Bless and stop by again soon! Mh.

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