Stay Alert Bond Money Comes and Goes

Since governments do not offer unlimited amounts of bond money to finance home mortgages, stay on the lookout for this type of financing. It comes and goes. Likewise, interest rates for these programs fluctuate. Bond money typically shaves one-half point off the current market interest rate. Some programs, especially those directed toward low- to moderate-income families, might cut their interest rate by two percentage points or more. Either way, you've boosted your buying power and slashed your interest costs. Check out the low interest mortgage loan programs that your state and local housing finance agencies offer now or plan to offer in the future.

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