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first time homebuyers: Fast closings with Local Processing, Underwriting and Closing! Gabriel Libutti - 04/28/10 08:29 AM
There is no room for Fraud in our Industry. If the borrowers do not qualify, turn them down. You are doing them a favor and protecting the itegrity of our industry! Putting borrowers in to homes that they cant afford hurts everyone! "Mortgage fraud is still on the rise, according to a report released Monday, despite efforts by law enforcement and policy makers to rein it in. Incidents of mortgage fraud perpetrated by industry professionals increased 7% in 2009, after jumping 26% the year before, said the Mortgage Asset Research Institute (MARI), a division of LexisNexis. The worst-hit states include Florida, … (0 comments)
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first time homebuyers: Do I still have time to get my $8000 tax credit? Apply in the next 2 weeks and the answer is yes! - 03/06/10 09:40 AM
Nab a real estate deal - while you still can
If you've been holding off on a real estate purchase, glimmers of a turnaround in the housing market may have you wondering if it's finally time to make your move.
While home prices remain low, they're no longer free-falling in most markets. Mortgages are historically cheap. And the sweet tax credit that was offered to new buyers last year has been extended to April 30 and expanded to include current homeowners too.
But for all the motivation to act quickly, buying right now is not a no-brainer. In some areas … (0 comments)
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first time homebuyers: $8000 First Time Homebuyers Credit! Still time to close before deadline! - 11/02/09 10:38 AM
$8,000 home credit still in play Negotiations about whether and how to extend and expand the tax credit for homebuyers are moving quickly. Here are the latest developments. NEW YORK (CNNMoney.com) -- Confused about whether lawmakers will extend the $8,000 first-time homebuyer credit and what it would look like? That's understandable, since the situation is still very fluid. Here's where things stand. Support for the credit: There is still bipartisan support in Congress for extending the credit past Nov. 30 and making it available to more homebuyers. The Obama administration wants the credit extended for a "limited period," Treasury Secretary Tim … (0 comments)
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first time homebuyers: Fast FHA Closings, just in time to get your clients the $8,000 tax credit! - 11/02/09 10:33 AM
Home sales contracts rise for 8th straight month Real estate rally attributed to first-time homebuyer tax credit that expires at the end of November. NEW YORK (CNNMoney.com) -- The number of signed sales contracts to buy homes rose in September for the eighth straight month, according to a real estate industry report released Monday. The September Pending Home Sales Index from the National Association of Realtors (NAR) spiked 6.1% to 110.1, consolidating a 6.4% gain in August. It was the index's highest level since December 2006, when it stood at 112.8. The leap was far better than expected. A panel of … (0 comments)
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first time homebuyers: American Home Bank and Gabriel Libutti! Your first time homebuyer tax credit expert! - 09/20/09 09:42 AM
1.4 million Americans score $8,000 tax credit The IRS reports that taxpayers are cashing in on the tax credit for first-time homebuyers; a push to extend the credit gains steam. NEW YORK (CNNMoney.com) -- More than 1.4 million Americans have already claimed the new tax credit for first-time home buyers, according to a report from the Internal Revenue Service. The credit, which applies to sales as of January 2009, is good for 10% of the price of a home, up to $8,000, and supporters assert it has helped stabilize the housing market. It's available to anyone who has not owned a … (1 comments)
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first time homebuyers: 203K, Conventional and Jumbo Renovation Loans Nationwide for REO Properties! - 08/13/09 07:49 AM
Foreclosures: How bad is your city? Foreclosures are easing in some of the worst hit metro areas, but watch out for the next wave of filings to start crashing in unexpected cities. Hot or not? Where foreclosures are heating up -- and cooling off -- in the 20 biggest U.S. cities. Rank Metro area Foreclosure filing rate (One in # of homes) Change from first half of 2008 1 Seattle 107 +72% 2 Minneapolis 90 +58.6% 3 Phoenix 22 +51.7% 4 Miami 28 +40.9% 5 Tampa 39 +31.5% 6 Chicago 59 +30.3% 7 Los Angeles 42 +29.9% 8 Riverside 17 +11.8% … (0 comments)
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first time homebuyers: Buyers and Sellers in Charlotte are still in a Stable market!!!! Tax Credit!! - 08/12/09 10:39 AM
Home prices fall a record 15.6% Year-over-year prices may have fallen at a record pace, but there are signs of improvement. NEW YORK (CNNMoney.com) -- Median home prices fell a record 15.6% during the three months ended June 30, compared to the same period in 2008, according to an industry report. There is good news though: The survey from the National Association of Realtors reported the median home price rose 4% compared to the first quarter of 2009 -- to $174,100 from $167,300. The increase in median price was not a surprise, representing, as it did, the traditionally strong spring selling … (1 comments)
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first time homebuyers: Max Seller Concessions for Conventional Loans! - 07/29/09 03:49 PM
All of my Realtor Referral partners have been asking me what the max seller contribution guidelines are for conventional loans lately.
I thought I would post the table for everyones convenience.
Occupancy LTV Amount
Owner Occupied Over 90% to 95% 3%
Owner Occupied Over 75% to 90% 6%
Owner Occupied 75% and below 9%
Second Home Over 75% to 85% 6%
Second Home 75% and below 9%
Investment Property All LTV's 2%
I hope it helps to get another buyer in to a new home!
Gabriel Libutti
Sales ManagerAmerican Home Bank
20460-4 Chartwell Center Drive
Cornelius, NC 28031
Cell: 704-657-6192
Office: … (0 comments)
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first time homebuyers: The place to come for all of your FHA and Down Payment Assistance Questions! - 11/09/07 03:47 PM
So you have heard that lenders do not do Subprime Loans anymore?
Here is my FHA Scenario for the month of November?
545 Middle Credit ScorePurchase Price $125,000Full Income DocumentationPast Due Child Support$25,000 in Medical Collections4 Different Jobs in the last 2 Years$1500 in CheckingFHA Approval was as follows:
6.5% Fixed Rate3% Down Payment Assistance Seller Gift3% Seller Paid Closing CostsClosed in 14 DaysFHA is a wonderful alternative for borrowers who have had past problems but are willing to do anything they can to show they have turned over a new leaf and are trying to do good!
If you can verify the following, I … (1 comments)
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Gabriel Libutti
Cornelius,
NC
More about me…
ONQ Financial
Address: 18805 W Catawba Ave Suite 204A, Cornelius, NC, 28031
Office Phone: (704) 657-6192
Cell Phone: (704) 657-6192
Email Me
Gabe Libutti from ONQ Financial
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