My New Blog

I was just recently sitting down with a first time home buyer, writing a purchase agreement on a home she wanted to buy.  She asked me "can you tell me at that price how much my payment would be"? Now she was pre qualified, as all my buyer clients are, so I said "sure I can, I'll just call the loan officer to get the interest rate so I can use that to calculate the correct payment". I reached him and asked him what rate I should use and he told me 4.25%.  My buyer client heard me repeat that rate back but seemed puzzled when I chuckled. I hung up the phone and she said to me "is that a bad rate"? I said "bad rate?, she said yea, you laughed when he had quoted that, my reply was girl, you have no idea how good that rate is along with how nice the home price is too", you're having your cake and eating it too".  The perspective of today's 1st time home buyers is it is just a rate: So yea, all you 1st time home buyers it's a really good time to buy. 

Jeff Hedberg