3 Reasons to Buy, Sell, or Refinance Right Now


Currently there are many great incentives to make that real estate move that youve been thinking about. Read on to see 3 reasons to buy, sell, or refinance right now!

Just 3% Will Get You in The Door!

In December of 2014 Fannie Mae and Freddie Mac announced they will start backing mortgages with as little as 3% down. Previously, the minimum down payment for these loans was 5%. With tax returns coming in the next few months this makes buying a home in Orange County even more viable. When you consider that a townhome in most of inland North Orange County ranges between $250,000-$350,000 (depending on location, size, amenities, etc) that is only a down payment of $7,500-$10,500.


FHA Loan Payments Have Become More Affordable.

On January 7th President Obama announced that the Federal Housing Administration (FHA) will lower its fees for mortgage insurance. Currently the mortgage insurance rate is 1.35% and the new proposed rate is 0.85%. This is a substantial savings and will save most borrowers hundreds of dollars each month!


The Current, Historically-Low Rates Will Not Last Long

As of 1-15-15 interest rates for a 30 year fixed conventional loan are starting as low as 3.5% and 30 year fixed FHA loans are as low as 3.25%. Thats almost free money and considerably lower than they were just a few short months ago.


Do you have questions about any of this data? Are you interested to find out what your next step is? Who knows how long these interest rates will be this low! Call, text or email us today to take advantage of this rare opportunity!

Dustin and Leah Wise
The Wise Team
Keller Williams Realty
BRE #s 01762984 01520106