Right now is a difficult time to be a home owner, especially in California. Many of our friends are struggling to make the payments on their adjustable rate mortgages, and some have had their homes foreclosed. My wife and I bought our home about 6 months ago which is when the housing market had already begun to slow down. I think it was perfect timing for us because we got a house we could afford, but were still able to qualify for 100% financing and a low fixed rate (5.75%)
There are still a lot of mortgages out there for first time home buyers, so if you are planning on moving from that apartment or condo (like we did) and are looking for cheap mortgages, the internet and/or a trustworthy mortgage broker is a good place to start. God really spared us from the current fiasco by providing us with a 40 year fixed, 10 year interest only mortgage (we got the ACORN loan through B of A). If I was in an ARM right now, I would be up a creek without a paddle.
When it comes to finances, a Christian must always remember to put God first in any decision. If you make sure you bathe it in prayer, my experience is that He will help you avoid the landmines that riddle the world of money. Remember, honor God with the first fruits and let Him bless you out of His bounty. buy to let mortgages ~This post is sponsored~