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Why It May Be A Great Time To Buy a Home in St. Louis

First Time Home Buyers in St. Louis, St. Louis County, St. Charles Missouri and the surrounding areas are experiencing an opportunity not seen in these parts for well over a decade, and all because of HUD and FHA mortgage financing. Interest rates are still very low on a FHA 30 year fixed rate mortgage and getting qualified for a FHA Mortgage is still fairly easy. Because interest rates are still very low and house prices have fallen with the interest rates it has become very possible to own a home tomorrow for what you are paying in rent today!

For More People, Scales Tip Toward Buying a Home

In a recent Associated Press article they stated that an analysis of 45 metro areas found that the gap between the monthly mortgage payment on a median-priced home and the median rent has shrunk from a high of $777 per month to just $221 over the past 3 years.

But, in some metro areas, including St. Louis and a few other cities, the gap was less than $100.00 a month. And with home prices expected to fall faster than rents this year, this means the gap should get smaller.

“Real Estate in St. Louis and the rest of the Metro Area is CHEAP! It’s like being in K-Mart and the Blue Light is flashing!”

Today’s St. Louis and St. Charles real estate market has many deep discounts and Midwest Mortgage Capital is positioned to be the financing tool of choice. FHA provides for a lower down payment, easier qualification, and better interest rates over conventional mortgage programs, visit my tips page to see why and how FHA can help you as a First Time Home Buyers.

GET PRE-QUALIFIED TODAY, GO HOME SHOPPING TOMORROW

Reminder: the tax credit for First Time Home Buyers is set to expire on November 30th, 2009, if you have not purchased your first home by the expiration date you will lose out on the $8,000 the Federal Government wants to give to you.

If you have any questions or would like to speak with the author of this article contact:

Bob Rutledge, 314-744-7843 or email him at bob@bobrutledge.com