a Division of American Pacific Mortgage Corporation NMLS 1850
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The economy is doing well at the moment, and with that has come 30-year-fixed-rate mortgage rates* that have dropped below 4 percent, according to Freddie Mac. Mortgage News Daily states that this has prompted an increase in mortgage applications.

And experts are saying this might not just be a short-term thing.

Freddie Mac is predicting that the annual rate for a 30-year-fixed-rate mortgage will be 4 percent in 2020, a forecast that could indicate that homebuyers have a good window of opportunity to purchase a home over the next year.

If you are a first-time homebuyer in the Roseville area and are looking to purchase real estate in the next year, we would love to work with you to try to help you meet your goals. We have a variety of loan programs for nearly any financial situation. If you are concerned about not having a large enough down payment, remember there are programs that could help with that.

FHA Loans, for example, have more lenient requirements. The down payment requirements, generally speaking, are anywhere from 10 percent to 20 percent. In addition, credit scores can be as low as 600 and lower debt-to-income ratios are acceptable.

These loans, in a way, are designed to get first-time homebuyers into a home with such lenient terms. Those who are interested in these loans, however, should be aware that they come with the requirement to have mortgage insurance.

If you have any questions about FHA Loans or any other loan program, from VA Loans to Conventional Loans and more, don’t hesitate to contact us today. We have a strong reputation in the Roseville area and will take the time to understand your unique financial picture to help you to try to get pre-approved.

*©2019 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply.