What does the mortgage market look like for the New Orleans area ? Should we hold off building with the home loan market so unsteady ? We plan on downsizing to a smaller home since kids are grown & I'm retired but we're not desperate to do anything unless it's the best time.
Also, do you have any specific recommendations for a basic fixed mortgage ?
Kitchen with Handmade Turkish Tile Island Counter
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Custom Marble Bath
Finished Home in Lakeview NewOrleans
Whether a Family Home
or Doubles For Rental
Anything's Possible with Modular
Going from this ...................
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...........to this 1,700 sq. ft. home. Built to withstand hurricane winds 140-150 mph
Level & demo old house
CLEAR LOT OF ALL DEBRIS
Engineering Plans Passed by Mechanical, Electrical, Plumbing & Structural Engineers
Draw Up Proposed Elevation Plans
Back fill lot to raise elevation
Layout the foundation & drive pilings
Foundation
Poured & Piers Finished - Elevation Survey Completed
Patio Landscaping Complete
2 comments:
The home mortgage market is undergoing some long needed adjustments but if your credit is good and finances sound, you don't need to worry.
Since you are retiring, you should remember the Saving & Loan closures of the 1980's. Today the bank closures are going to be about 20% of the ones back then. I would suggest planning your move based on your needs and your timetable. When mortgage market improves, rates will go up.
As far as mortgage loans go, I would suggest Allegro Mortgage 225-791-5047 toll-free call 800-840-5047 or any lender you've done business with in the past.
Charles
Assuming you are talking about a permanent home (not an investment property you might resell soon) - if you're ready to buy or build, now is the time.
Interest rates are still very reasonable and usually if you wait for the market to 'get better' you end up paying more one way or the other.
Sid T. New Orleans, La
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