Wichita Home

All About Wichita and Wichita Real Estate

When Interest Rates Rise

People  buying homes right now in Wichita Kansas or anywhere  else in the country using FHA financing get an added and very important bonus. Their loans are assumable.

What that means is when it comes time to have a Realtor sell that house in the future the buyer can take over your loan with that super low interest rate you got. Of course he or she has to qaulify just like you did.

With interest rates as low as they are right now due to the poor economy that will be a great selling point later on when rates have risen. Some economists think when rates begin to rise they may go up quite a bit for real estate, and they could be right. All this free money being appropriated out of thin air is going to have to be paid back someday.

Imagine when everyone else is paying 6,7,8 or who knows how high they will go some lucky buyer can pick up your house with a 3.7 or 4.5 interest rate.  There will be bidding wars!

Just one more thing to consider as you teeter on the fence.

p.s.  VA loans are also assumable.

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November 5, 2010 - Posted by | Uncategorized | , , , , , , , , , , , ,

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