Safe Mortgage Money is Available and Homeownership is Attainable

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Consumer’s who face lending restrictions, need to speak to a lender that offers government insured loan programs. They can help borrowers determine the federal or state program they qualify for and the best home loan that suits their personal mortgage needs.

One of the goals of government mortgage loans includes helping borrowers qualify for loans they can afford. The federal and state government insures loans with lending partners they have relationships with so the lenders can offer better options in qualifying and rates. Whether you are a single parent, or multi-parent household, the government wants to help you purchase a home or refinance your existing one.

Mortgage financing restrictions appear to be limiting the ability to buy a home. Yet, consumers have some of the best financing offered today to replace the subprime and ARM choices of yesterday. There are a number of good solid mortgage programs offered by our federal government.

The main benefits of a government insured program is the flexible qualifying guidelines and the zero to low down payment options. There is even a program that allows the consumer to finance repairs with the mortgage. The same program even offers energy-efficient improvements.

There are several different safe options offered to homeowners considering refinancing. Consumers who qualify can refinance into a lower fixed rate mortgage from a high rising interest ARM program, or reduce an existing higher fixed rate home loan.

It is almost impossible to ignore the negative news that surrounds us today about the housing market. The boom from 2001-2005 was a spike in the economy based on poor lending programs and practices that spurred an upward rise in people borrowing money to get bigger homes than they could actually afford. Home prices continued to rise, inventory tightened, and the consumer on the side felt an urgency to buy. Some people bought a home for the long haul, others for a quick return on their investment. States that continued to build homes at a frenzied pace and saw the biggest increase in sales prices, are now suffering the greatest losses in home values and foreclosure.

The good news for buyers today is that safer mortgage programs have returned. There are more homes, more neighborhoods, and more price ranges available to choose from. Securing a mortgage and buying a home for the average consumer has been about lifestyle first, and investment second. They want a home they can live in, maybe even raise a family, for years to come.

You can take advantage of the incredible bargains today. Contact a mortgage specialist and see what program best suits your needs.

Peter Boyle

Senior Mortgage Consultant

Serving the community and industry 17 years.

http://www.peterboylehomeloans.com

pboyle@summit-mortgage.com

612-701-6816

November 24, 2008