Xavier Pernot

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Open Opinion Thread: "Why should someone buy in this market?"

Asked Wed Apr 16 2008, 15:41 by Ryan - Chicago - General Area - 2386 answers

Xavier Pernot answered:

Rigth now there is no better time to buy. Prices have been dropping a lot. Either or not they have reached bottom, you will still get a good deal. The other reason to buy right now is the interest rate you can get on a mortgage. They are still low but expecting to rise and reach 7.5% beginning of 2009. You still can get now low 6%. Even if you buy a house now and you still loose 3 to 5% on the value of the house, you are still ahead with today's interest rate, than waiting to see what the house market is going to do and buy with a 7.5% rate. Look at the big picture. Real estate will go up again but you will have a good interst rate. Interest charges add up pretty quick on a mortgage - Mon Jul 7 2008, 08:20

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Asked Wed May 14 2008, 10:59 by Jc - Grand Rapids - Home Buying - 8 answers

Xavier Pernot answered:

First rates on mortgages don't change on Feds. It mainly only affects credit cards and line. It is still possible to get 100% financing even with FHA. If you want more info, email me at xpernot@quality1stlending.com. Basically it is the same as seller's concession up to 10% which is enough to cover the closing cost and the 3% down payment. Good luck - Wed Jul 2 2008, 10:57

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