As the financial crisis continues, it seems like rules and financing programs change daily.
My first recommendation for anyone buying a house is work with a good Mortgage provider that communicates with you regularly. Programs seem to change almost daily as well as the rates.
One the biggest changes that I have seen is the down payment requirements on loans with the largest impact happening in the Condo market. In recent experience it has become necessary to have a 20% + down payment in specific building and areas. A huge area for challenge currently is also in the Jumbo loan market (above $417K) where rates are still very high.
My job is to keep up with the changes in the mortgage market but it is very important that each buyer educate themselves based upon their own economic situation.
There are deals out there, now is the time to find them
Steve Armstrong, Realtor
Certifying Agent, Florida Green Builders Coalition
Smith & Associates Real Estate
http://www.UniqueTampaHomes.com
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