Home for the Holidays

October 24, 2007

Wouldn't it be great to celebrate the holidays in your new home? With a 30 to 45 day escrow period, you could achieve this goal!

I heard on the radio this morning that the interest rate on conforming 30 year mortgages (up to $417,000) has gone down and the rate for jumbo loans has also dropped. These rate reductions are not universal. It is important to call your mortgage broker and get an actual quote. For example, this morning one lender was quoting six and five-eighths for jumbos while another lender was quoting seven and a quarter with 6 points. Nevertheless, there are some great loans out there if you have a good credit rating and cash to put down.

I do not want to sound like a broken record, but there is a great selection of homes available. I remember our first home with a vaulted two story living room. I went and bought the tallest Christmas tree I could find! It was so exciting - especially when we had to bolt it to the wall to keep it standing!

These are the memories that you could create when you decide on the location and property where you want to put down your roots for a time.