Is Now the Time to Buy a Home?
Are you tempted to take the plunge because prices have come down over the past couple of years and mortgage rates are near historic lows but you are still afraid to take the plunge? Maybe you should think about the long term benefits of home ownership and the fact that you probably can afford a house you couldn't afford a couple of years ago when prices were a lot higher and mortgage rates were also higher. Lender
APR / Rate
Fees / Points
Payment
 NMLS #1283930
License: 01970483
5.445%
15-Year Fixed
5.250%
$5,125
Includes 1.000 points for $4,000
Lender Fees: $1,125
$3,216 /mo
 NMLS #1838
5.455%
15-Year Fixed
5.250%
$5,395
Includes 0.974 points for $3,896
Lender Fees: $1,499
$3,216 /mo
 NMLS #1025894
5.548%
15-Year Fixed
5.375%
$4,512
Includes 0.953 points for $3,812
Lender Fees: $700
$3,242 /mo
 NMLS #401822
6.039%
15-Year Fixed
5.750%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$3,322 /mo
 NMLS #3030
6.146%
15-Year Fixed
5.990%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,374 /mo
NMLS #1838
6.231%
30-Year Fixed
6.125%
$4,535
Includes 0.759 points for $3,036
Lender Fees: $1,499
$2,431 /mo
NMLS #401822
6.289%
30-Year Fixed
6.125%
$7,000
Includes 0.750 points for $3,000
Lender Fees: $4,000
$2,431 /mo
NMLS #1283930
License: 01970483
6.347%
30-Year Fixed
6.250%
$4,125
Includes 0.750 points for $3,000
Lender Fees: $1,125
$2,463 /mo
NMLS #1025894
6.477%
30-Year Fixed
6.375%
$4,284
Includes 0.896 points for $3,584
Lender Fees: $700
$2,496 /mo
NMLS #3030
6.949%
30-Year Fixed
6.875%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$2,628 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Don't try to time a market bottom because you won't be able to. Take advantage of the low mortgage rates and the $8,000 tax credit (if you qualify) for buying a home before December 1st, 2009. Some housing markets have seen declines nearing 50 percent since the market peak. Even if you think housing prices have further to decline interest rates will probably be higher by the end of this year, making monthly mortgage costs higher, which will lower the price range of  homes you can afford. Another benefit to home ownership is the tax benefits of owning compared to renting. Mortgage interest costs are tax deductible, further lowering your housing costs compared to renting. Explore Other Mortgage and Refinance Offers
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Have you been sitting on the sidelines the past couple of years waiting for the housing bubble to deflate?
