Interest Rates Remain Low
Interest rates continue to be some of the best in history. Although rates were expected to go up they have continued to hover around 5%. There is still the availability of getting financing with as little as 3.5% down payment through the FHA. Also anyone with VA benefits can get a mortgage with no money down. Although there have been many articles written about how hard it is to get financing approved, it is not much different than it has been in the past, with the exception that you need to verify your financial information. The days of no documentation are past and no one expects them to come back anytime soon.
So, if you want to buy a new home now is one of the best times to do that. Prices on new homes are down from the recent past, interest rates are low, and new codes have made new homes even more energy efficient. Now is the time to consider purchasing a new home.
McHenry County builder Gerstad Builders offers beautiful homes in a number of communities. Please stop by one of our models and find out more today!