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Archive for Financing
Free eBook “10 Mistakes Home Buyers Make!”
Many potential home buyers have downloaded my free eBook “10 Mistakes Home Buyers Make” and have told me how it saved them money on their home purchase. Here is the list of 10 mistakes you should avoid. Download the eBook, its free (you need Adobe Reader) and it could save you money also. I look [...]
How Much Earnest Money Deposit Do You Need!
I normally recommend that a buyer put no more than 1% earnest money deposit down when submitting an offer. If the offer price is $200,000, than the earnest money deposit should be $2,000. This is my rule of thumb, there is no set amount. My responsibility is to limit my buyers’ financial exposure. When an [...]
Have You Heard Interest Rates as Low as 3.5%!
I thought interest rates would be around 5% towards the end of 2011 and heading towards 6%. I am glad to see I was wrong. Because of the lack luster growth with the economy, and low consumer confidence, interest rates have been kept low.This is a good thing for potential buyers. Would you rather finance [...]
How to Get Mortgage Financing in 2011!
In my last blog post I quoted the Federal Reserve Chairman, Ben Bernanke who stated at the international monetary conference in Atlanta Georgia a few weeks ago that “despite historically affordable home values, many buyers are unable to access financing due to tightened lending standards.” While this statement is true, there are a couple of [...]
Now is a Good Time to Buy!
A recent survey backed by the National Association of Home Builders (NAHB) found that Americans see beyond the immediate housing market to the enduring value of homeownership which still remains essential to the American dream. The Chairman of NAHB reported that 75 percent of those polled said owning a home is worth the market fluctuations [...]
Spring Market Has Arrived!
Spring is here and the real estate market is beginning to heat up! Programs for first-time home buyers are in full bloom. I am beginning to see a few multiple offers on really nice houses. Here is a spring cleaning item you can do to get prepared. Get preapproved before you go house shopping. On [...]
FHA Extends ‘Anti-Flipping Waiver’ to Speed Sales of REO Homes
The Federal Housing Administration (FHA) announced Friday that it is extending the suspension of it’s ‘anti-flipping rule’ through the remainder of 2011. FHA Commissioner David Stevens says the temporary waiver will accelerate the resale of foreclosed homes in neighborhoods that are overrun with abandoned properties and blight. The move is intended to help stabilize home [...]
FHA 203k Financing Program: A Good Option!
The FHA 203k Financing Program is a good option for anyone looking to purchase a home that needs updating or repairs that the seller is unable or unwilling to fix due to the property being a short sale, foreclosure or estate sales. A 203k loan can help buyers finance both minor and major repairs and [...]
Always Know Your Numbers!
In today’s world 85% of consumers starttheir home buying search for properties on the Internet. Many potential home buyers whom are referred to me will give me a list of properties they have been looking at on the Internet and some time they have actually driven the area and viewed the properties from the outside. While [...]
What is “Rescoring!”
If you have paid your bills on time but your credit report says you haven’t, your mortgage lender might be able to fix your report fast. Typically, the three credit bureaus each require at least 30 days to investigate and make changes to your credit report. But if you are in the process of applying [...]
