Contrary to rumor, mortgages are not that hard to find!

Homebuyers have returned to the market, and sales are increasing but too many are still sitting on the sidelines.  There are First Time Homebuyers that would love to take advantage of the $8,000 Tax Credit but don’t think they can!  Fear of the unknown keeps people from pursuing their dreams everyday.  This is a real shame.

I have heard strange rumors like, “You need 20% down to buy right now, right?” or “You can’t get a mortgage without perfect credit!”  These rumors are FALSE, and the truth has been buried beneath an avalanche of bad news.  Let’s take a look at some facts about the current mortgage market in North and South Carolina…

• Credit score minimum for most home loans = 620 NOT 740 or even 700!  620 can qualify you for an FHA, USDA, VA or even some conventional mortgages!!
• Average 30 Year Rate = 5.08% last week (taken from Freddiemac.com)
• Down Payment Requirements are low!  3.5% for FHA, 0% for USDA, 0% for VA loans and only 5% for Conventional!
• Banks ARE LENDING! I can’t speak for other banks, but here at WR Starkey Mortgage we are closing loans in less than 3 weeks on average.

If you want to take advantage of the first time homebuyer tax credit you need to act NOW.  The credit expires Dec. 1st of this year.  You must be closing by that date, but there is still time if you start looking now.  Start here by seeing what you can afford.  For more information you can contact:

Olan Carder at 980-721-7478 or visit my website at www.LoansByOlan.com.  Pre-approval is FREE!