“Guarantee fees” Will lead to an increase in mortgage interest rates in Monument,CO
Have you heard of “Guarantee fees” or “G” fees yet? If you haven’t, you soon will.
If you are planning a home purchase in Monument, CO as of April 1, 2012, G fees will have an impact on you!
What are G fees? Essentially they are the teeth in the Temporary Payroll Tax Cut Continuation Act of 2011, signed into law by Obama on December 23, 2011.
How will it effect you? First, if you are buying a home in Monument, CO or anywhere else in the US after April 1, 2012 you will have to pay an additional fee to help finance the payroll tax cut. This applies to all Fannie Mae and Freddie Mac financed purchases.
What does it do? It will increase your rate approximately .125% for the same loan interest rate that would be available on March 31, 2012.
Why are they doing this? Essentially it is the false pretense of our government that tax revenue is a “Zero-sum Game” meaning that if someone gets a tax cut, someone else must finance it. Although I disagree with this premise, according to our benevolent leaders, homeowners (Specifically homeowners who are considered wealthy) are the lucky ones who get to foot the bill according to this line of thinking.
Further evidence that his new law targets those who actually have the ability make a substantial down payment or are able to afford a home above other loan limits is backed by the fact that FHA and VA loans are not included in this bill (FHA Loan limit is $325,000 and VA Loan limit is $417,000) implying that only those who can afford a higher priced home will be effected.
What impact this will actually will have on the Monument, CO housing market remains to bee seen. One thing is for sure: class warfare has now entered the housing market. They may not call it a tax but that is exactly what it is..directed at the lucky few!
Showing properties
1 - 15 of 105.
See more 80132 zip code real estate.
(all data current as of
2/22/2012)
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$339,900 : 17253 Muscogee Valley Tr, Monument4 beds, 3 full baths
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$449,000 : 18305 Chandler Pl, Monument4 beds, 3 full baths
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$489,900 : 620 Winding Hills Rd, Monument5 beds, 4 full baths
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$275,000 : 535 Oxbow Dr, Monument5 beds, 4 full baths
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$469,900 : 18518 Wetherill Rd, Monument4 beds, 5 full baths
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$359,888 : 18295 Stone View Rd, Monument5 beds, 4 full baths
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$400,000 : 18620 Augusta Dr, Monument4 beds, 4 full baths
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$352,952 : 15635 Colorado Central Dr, Monument4 beds, 3 full baths
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$346,000 : 19115 Pebble Beach Wy, Monument4 beds, 3 full baths
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$419,947 : 1475 Symphony Ht, Monument4 beds, 3 full baths
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$338,900 : 330 Jack Boot Rd, Monument3 beds, 4 full baths
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$399,500 : 315 Lariat Lp, Monument4 beds, 3 full baths
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$289,900 : 17180 Early Star Dr, Monument3 beds, 3 full baths
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$439,900 : 17330 Colonial Park Dr, Monument4 beds, 4 full baths
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$330,000 : 1640 Old Antlers Wy, Monument5 beds, 4 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
