Thanks to NAR 20% Downpayment plan has delayed
I am so glad we have organization like National Association of Realtors fighting for buyer's rights in this tight financing market. NAR was able to persuade the QRW to shelve the minimum 20% downpayment requirement plan for home buyers which would have taken an average of 14 years to save. Average price of the property being around 200K would have required $ 40,000 plus closing cost which would have limited the purchasing power of many first time home buyer. Also NAR was able to convince FHA to keep their current price limitation to $271,050 instead of reducing it to below $250,000 mark.
Summer is still strong with good amount of inventory and this is the best time to buy before interest rates start to rise, remember every 1% increase in interest rate will increase your cost on a home purchase by 10%. As always I am never too busy to take care of you or anyone important to you.
Sam Chaudhry
Broker Associate.
832-419-4700
Sam@samcp.com
Remax Top 200 Broker
http://www.Samcp.com
http://www.samcproperties.com/
Remax, Re/Max. Houston Texas.
Houston Area Homes for Sale.
http://www.Samcp.com
http://www.samcproperties.com/
https://www.youtube.com/user/SamCprop...
http://samcproperties.com/virtual-tou...
http://www.schaudhry.remaxtexas.com/
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