You've probably heard speculation that the long term mortgage interest rates have been as low as into the "4's". We do know that they are bouncing from about 4.75% to 5.5%. Interest rates are ridiculously low.
            Our local real estate conditions make a purchase of property worth considering. If you purchase a home/condo for your child to live in, you may qualify for owner occupied rates. The timing may truly never be better to consider the purchase of an investment property or a second home.

Here is a sample of today's rates:
4.875% to 5% with 1% origination fee
5.125% to 5.25% with NO origination fee
5.375% to 5.625% with all costs paid by the Lender (loans over $275K)
(Note:The days of limited or "no" documentation days are gone for good. These rates are based on your credit scores, income, debt, size of the loan and the loan to value ratio.)

Call me if you're interested in buying.

            I generally work with 2 lenders - 1st National Bank and Wells Fargo Home Mortgage.

            There are loans which fit a "parent" borrower, including a "second home" loan. And, there are a wide variety of interest rates and downpayments available depending on a borrower's individual circumstnces.

            First National Bank, is backed by a Bank Lending Institution which can make loans through the Bank to fit individual borrowers, if necessary. This may help borrowers who may not meet the standard criteria for a real estate loan.

            If you have any questions, please call John Arnold at 1st National or Karen Woolhiser at Wells Fargo - they will be happy to help.