Really, you can still get a mortgage today

It is true, we are in the midst of the worst financial crisis in a generation.  People are losing their homes, their jobs and their investments.  Housing affordability hasn't been better since 2003 and there is money to loan.  Since the government has decided the $700 billion bailout money will now not go to purchase troubled mortgages, but to stregthen the loan power of banks there will be plenty of money to loan in order to stimulate our economy.  Buyers who could not even dream of owning a home a few years ago are coming off the fence.  Renters with relatively decent credit can qualify for one of several types of FHA loans that require very little down and offer great interest rates.  First- time homebuyers are also being offered a $7500 incentive to purchase a home before July 1, 2009.  The $7500 is currently considered a no-interest, 15-year repayment loan, but the National Association of Realtors is fighting to get the repayment feature removed and to get this credit offered to everyone.  If you are a buyer who is still waiting for the market to "bottom out," you may lose out.

For further information or if you have any real estate related questions, please email me at info@buytampafl.com.

Looking for a new home? Go to www.buytampafl.com for a list of all available homes in the Tampa/St. Petersburg area.