Blog with MAE Capital

Really 3.25% 30 year fixed rate with no costs……

July 16th, 2012 10:14 AM by Gregg Mower

Ok I know I have written about rates before, but this is getting ridiculous. Looking at the interest rates posed today for a FHA 30 year fixed rate loan with 3.5% down on a purchase loan you can get 3.25% and we pay for your closing costs! Crazy! It also works on a refinance with no cost at 3.25%. Conventional 15 year fixed rate loans 2.875% with a small cost. So what does this mean? Well let me tell you; if you make $30,000 a year which is $2,500 a month you can qualify for a $175,000 house with 3.5% down payment that can come from a gift or a down payment assistance program. We are talking about a fixed rate government insured loan that will never change in payment. If you have not thought it possible of buying a home now is the time to try, why not it won’t cost you anything to find out if you qualify. The possibilities for your future here are endless.

Picture this; If you bought a $175,000 house today, what do you think it will be worth in 20 years? Coupled with the bottom of the real estate market today you have a pretty good chance that your home will be worth twice that. If history repeats itself, as it has, that $175,000 house was already valued at some point at or about twice that in 2006. I don’t believe we will ever see double digit inflation in real estate any time soon as we did earlier in this century, but a normal growth as demand for homes increase. Oh by the way a payment on that $175,000 house about $1,000 a month taxes and insurance included, you can’t rent that house for that. Now if your are in your twenties , I would venture to say that your income potential is pretty good to go up over the next 20 years, as well. So if your income doubles and or you get married or have income from a partner at some time keep this house and rent it out for a monthly profit and buy another home and have that home pay for your second home. Wealth building should start early in life and Real Estate is a good investment from the fact that you can’t make more real estate so supply will always be in your favor as an owner. If you look at the top richest people in the world see where the most of their wealth is……. Real Estate.

Call us today to get you started on this road of home ownership, it is not a hard as you might think, and the rewards will be great.

Posted in:General
Posted by Gregg Mower on July 16th, 2012 10:14 AM

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MAE Capital Real Estate and Loan

CA DRE #01913783|NMLS #806170

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Rocklin, CA 95677