Exciting news for our valued first responders! A new loan program is currently in development, specifically tailored for police officers, firefighters, nurses, doctors, and more. This program aims to provide low or no down payment options and competitive interest rates, making homeownership more accessible to first responders. For those with less than 20% down, there will be little to no mortgage insurance required.The program is still in the concept stages with no specific timeframe for its release. I am actively monitoring its progress and will keep you updated on any developments.
If this is something that interests you, a friend or family member, please get into contact with me via email, text or phone. We can discuss any steps to take while we wait for the program to be released. I will also include you on my “first to notify” list when more program details are released or the program is accepting potential buyers.
Rate Ups and Downs
Interest rates have been experiencing a bit of a roller coaster ride lately, with fluctuations both up and down. However, there is some promising news on the horizon. The Federal Reserve has indicated the last rate hike may be the last one for this year. As we head into the summer months, it will be interesting to see if rates begin to drop. Currently, certain conventional loan programs are hovering around the high 5% range. While it’s difficult to predict with certainty, there is a possibility that rates may lower a bit over the summer.