According to the Federal Reserve more lenders loosened their standards last quarter than in any quarter over the last 5 years. That’s good news for home buyers. Last month we reported Fannie Mae and Freddie Mac will be ending their 3% down payment programs. This one of our most popular loans so it’s unfortunate that it has to come to and end on November 16, 2013. However, there is still time to take advantage of it. As long as your interest rate is “locked in” on or before November 16th you will still be able to take advantage of the lowest down payment loan available.

After November 16th, our 5% down with NO PMI loan will be the most competitive. In Charleston, South Carolina if you purchase a $250,000 home with our NO PMI program the payment will be $162 cheaper than if you used FHA.  Over the life of the loan it would save you almost $55,000. Combined with the loosening standards and we have en environment ripe with opportunity for buyers. It’s a good time to buy.Hometown-Hero-page-600w

Our Home Town Hero program is still alive and well. We are giving our support to first responders and veterans for their continued service to our South Carolina communities by offering discounted closing costs to these heroic individuals. Not only do they deserve every benefit we can give them but they’re also great neighbors to have in our communities. It’s important they be able to live in work in the neighborhoods they service. Giving discounted closing costs to Police, firefighters, EMT’s, Nurses, and Veterans will make that more of a possibility. Please support our efforts by getting the word out to friends and family that may benefit.