This week’s wild ride on Wall Street has been great for something. Mortgage rates remain very low. Both long term fixed as well are ARMs are at very attractive prices. This cannot last. If stocks rebound we will see rates increase. But there are definitely some advantages.
Not only is it a great time to buy a primary or second home but pure investment properties are a wonderful deal.
A buyer may even get an investment property to cash flow…how novel. For example, if someone with good credit (+740) were to buy an investment home (rental) with 25% down, they could get into a 30 year fixed at 5.25% plus 1% origination fee. On a purchase price of $150,000 with 25% down and a loan of $112,500 at 5.25%, the P&I payment is $621. With taxes and insurance, the owner will make money on his (her) investment, immediately.
Our people are the best in the business and they help make closing loans very smooth. Please give me a call and find out what top notch service is all about.
Vince Bacchi
910 352 6562 cell
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