First Time Home Buyers

As you know, buying a home for the first time can be a confusing and stressful time.  There is a lot of talk about the crdit crunch, and how hard it is to get a loan.  Our Agents are up to date with the latest news "such as the article below, and programs to assist home buyers in getting loans.  We can walk you through the process and help you decide what options are best for you.  With interst rates at all time lows, and great deals on homes, your dream of owning your own home can come true.

Latest News:

The Obama administration on Monday (10-19-2009) unveiled a new program to support state and local housing finance agencies. The plan will help the agencies finance mortgages for first-time homebuyers.

The agencies have had a hard time raising money because of the housing crisis and credit crunch. This year, the agencies have sold about $4 billion in tax-exempt bonds -- one-fourth the amount in a typical year. That reduction is limiting the number of loans they can make.  The new program uses mortgage finance companies Fannie Mae and Freddie Mac to help fix the financing crunch. The two companies will package mortgages made by the housing agencies and sell them as bonds to the Treasury Department.

"It's an additional layer of assistance to borrowers who are seeking a mortgage at a time when credit is scarce," said Howard Glaser, a mortgage industry consultant in Washington.

Please call our office at 409 751-4646 or e-mail me at michellehall@texasallproperties.com