Elizabethtown Kentucky Homes for sale, Fort Knox KY Real Estate Agent, Radcliff houses Rineyville KY - Hardin County Real Estate
Turner Houses ................. Ft Knox Elizabethtown Kentucky Homes for sale, Fort Knox KY Real Estate Agent, Radcliff houses Rineyville KY - Hardin County Real Estate
Why now? - New home prices are down. This reflects a reduction in building material prices, subcontractor pricing as well as hungry builders willing to accept far less profit margin than just a couple of years ago. Interest rates are also once again falling dramatically.
If you wait - prices will go up. Within a few months this area will be inundated with thousands of new personnel associated with Ft. Knox. In addition, as the economic uncertainty subsides, those with less secure jobs that are waiting to buy will also rush into the home purchasing market. These circumstances will certainly tend to drive demand and pricing higher. For those of you employed by government and semi-government agencies and people in the military (armed forces), this could be an unusually good opportunity to buy a home. Your jobs and income are secure. Live there 2 years and sell - the profit is tax free.
What about financing? VA/FHA still available. The government has tightened the standards they allowed a couple of years ago when “stated income” loans and other oddities allowed people to qualify for home loans that they could not afford and largely stopped the adjustable rate mortgages that caused problems when interest rates rose. What we see today are not some extraordinary qualification standards but merely a return to the standards that were in place before 1998 and a liberal interpretation of such laws as the Community Reinvestment Act caused today’s problems. Checking on your qualifications takes a matter of minutes.
a) This is a particularly good market for those eligible for a VA Loan. (Former or active duty military.) There is no down payment for you and the banks are happy because VA is providing a 20% loan guarantee to replace any down payment.
b) It is also a good time for those making less than $65,000 who can still buy a house outside of Elizabethtown and Radcliff with no down payment through the government’s Rural Housing Program.
c) Good old FHA still makes home loans with a down payment as low as 3% as long as you have good credit and meet their debt ratio requirements to assure the payment is within your budget.
CALL NOW
270-766-7679270-737-3232
Elizabethtown 31-W - small commercial building near Highway 434 intersection also available
