Mortgage Money Is Out There For Buyers To Capitalize On Affordable Home Prices
The economy is front and center these days for Americans. And with much of the attention focusing on the struggles of some banks on Wall Street, many assume it’s virtually impossible to get a mortgage, even with good credit. That simply isn’t the case. The reality is there are many secure, safe and reliable lenders that are willing and able to provide mortgages to qualified buyers.
Weichert Financial Services, an affiliate of Weichert, Realtors, is one such company that is meeting the current demand for home financing. In fact, the company reports that nine out of every 10 people who come to them are approved for a mortgage.
“With the current uncertainty of the market, people have the misperception that there is no money available.” said Stephen Adamo, president of Weichert Financial Services. “While the ‘credit crunch’ has impacted some lenders who invested too heavily in risky loans, companies that maintained responsible lending practices over the years are still in a position to lend mortgage money.”
Affordable home prices, coupled with historically-low interest rates and a large surplus of houses, presents a great opportunity to buy. The current housing market is particularly advantageous for first-time home buyers who can benefit from a temporary $7,500 tax credit that Congress put in place and that will expire after June 30, 2009.
Recent trends suggest that Americans are recognizing the great value currently offered in the housing market. The National Association of Realtors announced recently that pending home sales had jumped to the highest level since June 2007.
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