One reason to buy now.
A factor to consider is that FHA is tightening their guidelines. FHA is a loan program that has become increasingly popular over the last year. Buyers only need a 3.5% down payment and minimum 620 credit score. The Up Front mortgage insurance that is required is currently 1.75% of the loan amount, but will be increasing to 2.25% of the loan amount on April 5th. That’s a significant difference when looking at a mortgage! Along with the home buyers credits now is the time to make your move to home ownership.