All Time Low Mortgage rates 12/16/2011
All time low mortgage rates How low can they go? El Paso Texas mortgage brokers are getting 3.95% and lower for Fort Bliss home buyers. This is particularly important for all the military buyers transferring to El Paso Texas as a result of BRAC, 1st AD, soldiers returning from Iraq and the possible selection for a new security forces regional training center. Fixed mortgage rates dropped again to a record low. The national average rate on the 15-year fixed mortgage fell to 3.21% from 3.27%. The average rate on the 30-year fixed loan has been below 5% for all but two weeks in the past year, and many homeowners who can afford to refinance already have. For El Paso Preferred VA Lenders contact RE/MAX in El Paso, Texas. Today’s rates with Tri State Mortgage VA 4.00% for 30 yrs (4.30 APR) and 3.50% for 15 yrs. (3.97 APR) FHA 4.125% for 30 yrs (APR 5.1%) Conventional rate for a credit score of >720 for 30 yrs is 4.375% (5.2 APR) Add Comment Army housing boom in El Paso TX, Fort Bliss, and Biggs The expansion of the Fort Bliss Army base under BRAC (Base Closure and Realignment program) in El Paso,Texas has sparked a local building boom and kept the town from falling into the depths of the recession. While the rest of the country has seen home prices fall an average of 20 percent since the peak of the housing boom, prices in the El Paso Fort Bliss Texas area have held steady. When these soldiers return to the US, those returning military personnel can take advantage of the home buyer tax credit, which, while it has expired for the general population, is still available to active-duty military personnel returning from overseas. (Also see "VA Loans: Home buying Help for Veterans") See homes for sale in El Paso, TX at Re/max Real Estate. New Property Tax law in El Paso Tx 12/08/2011
Read about new property tax law that took effect September 2, 2011. What is a homestead? A homestead can be a separate structure, condominium or a manufactured home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres, if the land is owned by the homeowner and used for a purpose related to the residential use of the homestead. What is the Homestead Exemption? Homestead laws were developed to grant a surviving spouse, minor children, and/or unmarried children of a deceased homeowner the right of occupancy, to afford a reduction on property tax, and also to protect a home from creditors. Homestead exemptions reduce taxable value by removing part of your home's value from taxation. If you want to receive a homestead exemption for the taxes on your home, the home must first qualify as a residence homestead on January 1 of the year in which you are applying. There are two requirements: 1. You must own your home on January 1. (If you are over 65,and/or disabled the January 1 ownership and residency are not required.) 2. You must use the home as your principal residence on January Click here to see other exemptions you may qualify for. | Get Answers Now!
 IMPORTANT NOTICE Russell-Realtor is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
Yvonne Russell, RE/MAX
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