Final Days of Tax Credit

Mortgages in Greenville, NC - If you are interested in the $8000 tax credit for first time home buyers, time is almost up. To date, there have been no definitive answers as to whether the housing stimulus will continue or not.

Borrower's who are not under contract and haven't submitted their mortgage application by October 30th may miss out on the stimulus. I generally takes about 30 days to process an application and close. The home purchase must be finalized ("CLOSED") by November 30th in order to qualify for the 2009 First Time Home Buyer Stimulus.

100% Financing - NO PMI

Mortgages in Greenville, NC - I currently have a mortgage program that offers 100% financing with no PMI (Private Mortgage Insurance). PMI is an insurance policy that the borrower must pay in order to protect the lender in case the loan were to go into foreclosure, and it can be expensive. In today's market, it's rare to find a program like this. You do have to stay below certain income limits, but for the right person, it's a heck of a deal!! The rates are currently in the high 4's to low 5's.

I also have rate incentives currently on USDA, FHA, VA and Conventional loans for borrower that are below income limits for the county.

For more details, please contact me. (252-551-7828 or clay.brown@rbc.com)

Market Update

Mortgages in Greenville, NC - In the past 6 months, we've seen rates at historic lowes. Many homeowners and homebuyers have been able to take advantage of rates below 5%. Low mortgage rates combined with motivated sellers and tax credits for first-time buyers have created the "perfect storm" for home buyers.

Recently, rates went up to about 5.5% and have come back to just below 5%, so if you are in the market to purchase or refinance, now is the time to act!!! And if you are a First Time Buyer, the deadline to receive a tax credit for your purchase is December 1st.

Don't miss out on the "Perfect Storm" for Home Buyers!! Call me if you have questions. 252-551-7828.