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Answers (2)
- Nick Zappa
- Contributions:215
Right now interest rates are at a very desirable rate, of course there are some varibles that will come into play such as credit score, downpayment, your current ratios of debt to income.
This is a great time to buy, don't forget the tax credits as well.
This is a great time to buy, don't forget the tax credits as well.
- Fydell
- Contributions:514
your question is unfinished but from what you have said
Never assume anything - especially in the housing market. The body of opinion is that interest rates will rise and quite possibly by a lot as we cannot run deficits in the country of this size without this happening.
If you plan on living in the house for a long time then get a 30 year FIXED rate mortgage at today's rates and hold on to it. Do not even consider an ARM
Secondly try drawing down the balance as quick as possible. Most banks allow additional principal repayments and other ways of doing it - like pay 1/2 the payment every 2 weeks.
You cannot see into the future and a fully paid house ten or twenty years from now might be a major blessing for you if your circumstances change
Good luck
Never assume anything - especially in the housing market. The body of opinion is that interest rates will rise and quite possibly by a lot as we cannot run deficits in the country of this size without this happening.
If you plan on living in the house for a long time then get a 30 year FIXED rate mortgage at today's rates and hold on to it. Do not even consider an ARM
Secondly try drawing down the balance as quick as possible. Most banks allow additional principal repayments and other ways of doing it - like pay 1/2 the payment every 2 weeks.
You cannot see into the future and a fully paid house ten or twenty years from now might be a major blessing for you if your circumstances change
Good luck
Assuming mortgage rates are equal and we want to live in this property for the next 30+ years, is it
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