The interest rate for 30 year mortgages late last week comes in at just 3.42%, another drop down. This is the lowest that rates have reached over the last 10 weeks.
“Mortgage interest rates are one of the keys to locking in the lowest monthly payment levels possible for your first mortgage,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Strong personal credit and funds to use as a traditional downpayment are the key to getting a rate down near the 3.42% mentioned. Rates for less than favorable credit and down payment assistance mortgage products also are hovering around very favorable levels.”
Want to take advantage of this “housing market bright spot” and stop renting? The best way to get started is to join us at our popular First Time Home Buyer Workshops twice a week. We meet Tuesday nights at 5:30pm and Saturday mornings at 10am where we introduce $0 Down and subsidized down payment programs, and show you how to use the financing strategically in the local real estate market. We’re real estate agents and can smoothly transition you into actually buying and owning a home or condo if you can follow our playbook!
UrbanLand Company Home Buyer Workshops have produced over $32 million in purchased homes since 2014 for DC and Maryland residents, many of which are $0 Down or low down payment loans. To find out next Workshop dates, RSVP here. Workshops are FREE of charge and are held at 913 Florida Ave. NW. near the U Street METRO.
Where’s our interest rate numbers come from? We get our data from Freddie Mac’s weekly survey of bank rates around the USA. The actual interest rate on your home loan can be different based on a variety of personal factors, including your credit score, amount of down payment, home purchase price, your debt-to-income ratio and other variables. Email us for how to get pre-qualified for a local mortgage! UrbanLand Company real estate agents have a high degree of success in helping buyers get financed!
Here’s some of the homes we’ve sold to Workshop attendees!