Call us now - (888) 537-7007

The worry that many people have, that I have encountered, is that now is the worst time to get into a home. It is not. Now, that is not to say that it is the best time either. There are opportunities in the housing market and with the approval of FHA loans even more readily available, it makes sense that more people than ever would be interested in getting loans. Those that are leery are the people who are worried about mortgage lenders going under or not qualifying for the loan. Let us look at the advantages.

 I was recently asked, “Isn’t the mortgage industry too shaky to get into? I don’t want a lender to drop out of my loan if I buy now.” They went on to tell me that they planned to hold off buying until the real estate market improved. It stepped back, looked dumbfounded for a second, and then explained a few pointers.

 First, the risks in the current housing market are not necessarily in the lenders themselves. While some of the bigger companies who did a lot of lending through subprime loans are shaking, it is highly unlikely that they will pull all mortgage notes they have. More than likely, they would be sold to another lender. However, that is not the risks with these two friends of mine.

 You see, they have decent credit and after getting married a year ago, have managed to get a sizable down payment together for a home. They are worried about all mortgage lenders. Most lenders are suffering from the housing crisis, but they are not going out of business. In addition, what they know and you should know is that once the housing market straightens out and house values start coming up the long-term outlook looks good.

 Since this particular couple is looking for a family home and doesn’t plan to move too much, chances are they can get a pretty low priced home now and watch the property value rise on it over the next five, ten or even thirty years. It may not be the best time for short-term loans, granted, especially in areas where house prices are dropping by 10 to 15 percent. However, it is an ideal time for many others.


If you are not sure if now is the right time for you to purchase a home, I highly recommend that you talk about FHA loans to your lenders.

These are backed and secure loans, ideal for many homebuyers... Apply Now