If you've been waiting to Buy - Now is the time to do it! 3.89% Mortgage Rate Now Available

Like most people today, checking the bank rate and mortgage rates has become a regular item on my morning reading list. Today I recieved the most incredible email from a very reputable local Mortgage Broker. For a limited time they are offering a 5 Year 3.89% mortgage for qualified buyers. That's right - a regular 5 Year Term at less than 4%! Just a year ago rates were at arpund 5.89% which seemed quite good at the time.

If you have been looking for your perfect nest, waiting to for the right time to buy, I feel that now is the time. With a surplus of listings to choose from and such great bank rates, what else are you waiting for?! If you are a First Time Home Buyer the scenario is even better. With the First Time Homebuyer's Tax Credit Program (HBC) and the Land Transfer Tax Refund for First Time Homebuyers the timing has never been better.

 Here's how the savings add up:

Monthy payments on a $200,000 Mortgage, 35 year amortization: (figures courtesy of Bev Brandl, Dominion Lending)

5.89% = $1116.17 per month

3.89% = $ 868.70 per month

Wow! Incredible savings are to be had! Make sure you stay within your budget, don't use this as an opportunity to move up into another price range - that's partially how the U.S. got into such a fine mess. For great budget advice, mortgage & refinancing info, contact me today and I will refer you to some great financial specialists!