Money Is Cheap (if you can get to it!)

A friend just contacted me, said that he heard "money is cheap, gimme a call." Media hype and misleading advertising has the general population thinking that any loan should be at 4.5%. Then there are those who believe it will go lower. I talk to people daily who say they're simply holding out for 30-year fixed rates under 4%. The fact is, some money is cheap, however, the goal of a cheap payment or the mindset of under 4% might cloud the challenges to get that cheap money. As I replied; Getting cheap money may be like climbing a barb wire fence to go swimming in salt water (or maybe even lemon juice). While money is cheap, the cost to acquire that cheap money is not cheap, and that's what the majority of lenders fail to tell borrowers. Even with disclosure, the closing costs are higher than years gone by. So, get the facts before you storm the castle. Call me for real deal. Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/