Changes to Mortgage Qualifying due April 19th 2010
If you have been thinking about taking advantage of the current HISTORIC LOW RATES please don't sit on the fence!
NEW CHANGES TO MORTGAGE QUALIFICATIONS WILL HAVE A SIGNIFICANT IMPACT TO MOST BUYERS!
The market has shifted and we are now experiencing multiple offers and a higher demand from Buyers taking advantage of historic low interest rates. If you have been considering a home purchase please contact me.The changes to mortgage qualifications take effect April 19th after that date Buyers who are buying a principle residence will have to qualify at the 5yr fixed posted rate (currently 5.39%) even if they will receive a rate much lower. This will have a significant impact on qualifying for a mortgage. Buyers of investment properties ie: 2nd home will require a 20% downpayment in lieu of the current 5%. I would be happy to meet with you to discuss this in detail as well your real estate needs & show you how we will find you the best home at the best price!
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If you are ready to buy in order to qualify under the current rules you must purchase and your deal approved by your lender before April 19th. The Federal Finance Department has said Lenders may change rules to qualify prior to April 19th so my advice to you is please give us a call today! We will provide you current market trends, information on government grants, first time buyer incentives provided through CMHC & Genworth and get you pre-qualified for a mortgage and my team will work around the clock to help you find a home! .
Buying a home is more affordable than ever! Take advantage of the current market conditions! Waiting may cost you more & may even take you out of the market! Take advantage of historic low rates!
Opportunities Are Never Lost; Someone Will Take The One You Miss!
Call Jim today 1-866-751-1151.
I can assure you that if you find we will find you the Home you're looking for, I'll represent your best interests by negotiating the lowest possible purchase price and the best possible terms.
I look forward to helping you find your next home.
Sincerely,
