Interest rates below 4% and I can't help but wonder why more people aren't taking advantage of this great opportunity. Talk to someone who purchased a home in the 80's (yes that is quite a while back) and you'll hear the stories of how they paid 16, 17, 18% and more. This followed a 70's recession and a 60's boom where interest rates were below 4%. So, again I wonder and ask why.
There are great programs available for the first time home buyer. One program is a money match... different lenders use different terms and SEFCU calls it the Mortgage Match Program. This program invites first time ( which is defined as someone who has not owned a home in five years) to open a savings account and make regular deposits to the account and receive four dollars back for every dollar deposited. In as little as ten months you can receive $7500 towards your closing. Now that is a program worth exploring.
Low interest rates, moderately priced homes, stable market, and money if you need it; why not home ownership?