We kept hoping that with the financial bail outs offered by the federal government would affect mortgage interest rates and, YEA!, the rates finally dropped (although I'm not sure it's really tied into the federal bail out of some financial institutions!).  Last week we could get a conventional loan at 5.3/8% and FHA at 5.5%!  These are fantastic rates!  Mortgage interest rates have been volatile for the past few months - hitting a high of 6.5 %.  These rates are much better than what we expect from the bond money soon to be available for first time home buyers.  The interest rate can really affect the amount of house you can afford so this drop has really increased the affordability of homes in the Baton Rouge Real Estate market!!

 The bond money available for the greater Baton Rouge area is going to be around 7% with the assistance program.  You really have to look at all the numbers to make the right decision on which loan works best for you.  We've also found a couple of lenders doing 100% financing - credit scores there need to be over 700.  Call us today so we can help find the right loan program to go with your new home!