| Dreadful information about the slumping American | | | | mortgage rates are combined with reduced asking |
| housing market is all over TV news and in almost | | | | prices your money suddenly is able to buy you |
| every paper. During this housing slump many | | | | much more home then you previously thought |
| potential first time home buyers often wonder, | | | | possible! |
| should i buy a house in 2008? While every | | | | The only real roadblock to buying a home in 2008 |
| persons situation is different the next few | | | | is going to be actually qualifying for a mortgage. |
| paragraphs will hopefully help you decide whether | | | | Even though mortgage rates are low the lenders |
| or not to buy a house in 2008 | | | | have tightened up their lending guidelines since the |
| It is a fact that property values across north | | | | housing slump began. Since many borrowers need |
| America have dropped, in some areas they have | | | | 100% financing it makes things that much more |
| dropped drastically and others its just a slight dip. | | | | difficult. To deal with stricter lending guidelines |
| Buying a home when prices are at the lowest is | | | | borrowers are going to need excellent credit or |
| the best way for buyers to get the most for | | | | have down payments in the range of five to |
| their money, and many people are now taking | | | | twenty percent to secure home financing. |
| advantage of the lower home prices. | | | | With property values falling and mortgage rates |
| The major factor for most people when buying a | | | | at very low levels 2008 is a great time to buy a |
| home is securing a affordable mortgage to | | | | new home. Not only is there more selection on |
| purchase the home with. In todays current | | | | the market but you will also be buying when |
| market mortgage rates have also fallen to very | | | | prices are low so when the next real estate |
| low levels making financing a new home more | | | | boom starts you will make substantial money on |
| affordable then one year ago. When low | | | | your investment. |