idaho home loan: Mortgage Loan Guidelines keep changing - 06/24/10 10:52 AM
General Mortgage Loan Guideline Changes - Regarding Debt Ratios
Mortgage Loan Guideline Changes
Conforming Fannie Mae & Freddie Mac Debt Ratios: Since December 12, 2009 the maximum debt ratios are as follows. References to DU 8.0 are due to the pending update to Desktop Underwriter(automated underwriting).* DTI > 45% must be approved thru DU Version 8.0* Fannie Mae indicated that debt ratios exceeding 45% require compensating factors. Fannie does not publish a list of compensating factors and it is unknown whether DU 8.0 will approve above 45%
FHA, VA, USDA & Bond Program Loans:
Effective with loans funding on or after … (0 comments)

idaho home loan: Boise loan officer launches Boise listings home search website - 05/03/10 01:45 AM

Boise loan officer Corey Chase, a specialist in the Idaho home loan purchase transactions in Boise, sees an increase in market share for websites that attract buyers to be able to get up to date Boise listings information.
Mr. Chase, who maintains a website directory of Boise real estate agents and follows the business, inventory, and special homebuyer incentives for buyers to find Boise Listings on the current market.
 "This increased competition for prospective buyers, especially given the fact that many experts still believe there is excess inventory, means that buyers are often in the driver's seat."
A number of Boise Home … (0 comments)

idaho home loan: Idaho Home Buyer - 03/31/10 07:48 AM
As there are plenty of ways an Idaho Home Buyer can find out information on the process of buying a home it all can be very confusing.  Especially with multiple sites that are not user friendly.  Sometimes the most simplistic sites can go a long way with people.  An Idaho home buyer can easily feel overwhelmed with the process as it is.  Keeping them informed on Idaho Home Loans and the current housing market will go along way.   Educated them in the Idaho home buyer process and it will make for a smoother transaction.  There are definitely ways we can elimintate a lot of … (0 comments)

idaho home loan: Seasons are changing - 03/06/10 05:03 AM
Aww what a great change of weather we are finally experiencing here in Boise, Idaho.  Although it was a mild winter, we experienced a lot of rain.  Enough of the gloomy weather let that sun shine.  Hold on tight everyone Spring is just around the corner.  Then onto a great season of home buyers! !! !  I hope everyone has a great weekend!

 
Best wishes to you all!
 
For all your Idaho Home Loan needs!
 
… (5 comments)

idaho home loan: You're Fired! - 03/06/10 01:23 AM
I was talking to my next door neighbor and found out he was looking at purchasing another home.  I had asked him how his home search was going.  He had stated to me that he had picked a real estate agent to work with that was one of the first ones to pop up on the google search.  I know of this Idaho Real Estate Agent.  This agent would actually make the buyer search for listings he wanted to look at print them off and bring them to him.  Anytime the buyer would call this particular agent he seemed bothered by … (14 comments)

idaho home loan: Marketing yourself? Stand out from the crowd? - 02/13/10 05:59 AM
As we all are trying to stand out in the crowd in our real estate career.  I just want to see what kind of things other people in our industry are doing to set themselves apart from the next person.  I have made a personal pledge to go after business for the real estate agents I work with to get them business spefically.  I believe in the go giver ways.  You go after business but have to give business in return.  The only way to truly make it in this market is to become a true team player.  The picture might … (6 comments)

idaho home loan: Out of State Lenders - 02/08/10 03:41 AM
How frustrating is it when you get a file dropped into your lap of an out of State Lender not knowing the laws and regulations in your home state.  Yet they are able to talk themselves up to the client saying it will be an easy close.  Then low and behold everything blows up at the end by the over promising and under deliver.  Simply opposite of your local lenders that are looking out for their customers.  I am a firm believer in using LO's in your state that way you can actually be in the same time zone as them.  Besides … (1 comments)

idaho home loan: Ducks in a row - 08/01/09 01:10 PM
My specialty as an Idaho loan officer is purchase deals.  I just like working with buyers and the need to having a deadline that needs to be met with so many people depending on me.  I don't know if it comes from my Marine Corps backround of being in artillery that time is everything.  If off by a smig in calculation or timing then we have a big blow up in the wrong location.  When that gun goes off you want to make sure you have all your ducks in a row.  The same goes in have your Purchase and Sale … (3 comments)

idaho home loan: Simple yet effective marketing - 06/08/09 05:50 AM
Everyone starts out their day differently.  Wither it is getting the kids up for school then dropping them off,  getting a cup of coffee at your local coffee shop,  getting breakfast at a local restaurant or maybe even just stopping in  a convenience store to pick something up for the day.   After this you get to your day started pretty simple as it is your normal everyday routine.  Now you have started that day as you have everyday or pretty much most of the time.  Then you go to lunch and run your errands around town.  You have to stop at … (8 comments)

idaho home loan: One Sided Marketing - 06/05/09 05:09 PM
As time goes by I think both Real Estate Agents and loan officers today get caught up in one sided marketing.
Some of us are ground pounders out hitting the streets looking for the next deals,  then there are those that send out countless flyers to past clients, and then there are those that base everything off of the internet.
Todays market really takes all three modes of marketing to make it.  There is no doubt you reach a different audience in each marketing model.  With the market that we are sitting in you have to work harder for that 1 … (1 comments)

idaho home loan: Idaho Recovery - 06/04/09 03:47 PM
As we have all seen the article in MSN talking about the first states to recover are suppose to be: Oregon, Washington, Texas, Colorado and Idaho.
We definitely need to help spread this good news to get away from all the scare tactic news that spreads like wild fire.  We as real estate profession weither it be a Idaho real estate agent, Idaho loan officer, or even Idaho home inspector need to push this news out as hard as possible.  We as a community can help get the GOOD news out there.
There are definately still Idaho Home Loans out there … (5 comments)

idaho home loan: 100% financing still available in Idaho - 11/01/08 05:54 AM
Do not let the news scare you that there is no longer any 100% loan programs out there.  As for all states you have the Rural Development and VA loans still available to get you the 100% financing you are looking for.  But for Idaho you also have Idaho Housing Loans available.  So don't get caught up with the daily talk on the news.  Right now rates are going down and prices of houses are down.  There is no better time to buy than now.  Please let me know if you have any questions on loans I will be sure to … (1 comments)

idaho home loan: Subprime Problems or was it? - 07/27/08 02:34 PM
I have a hard time hearing about all the news reporting that subprime market is what really hurt our industry.  This being said you after all I have read on the actual stats about people that are in subprime loans going into foreclosures.  Only 15% of the loans that were done in Subprime have fallen into the foreclosure.  That is pretty good considering the amount of people that were put into them.  First you have to look at these people.  They wanted a home so bad that they were willing to take on a HIGH interest rate just because of the … (2 comments)

idaho home loan: FHA Loans - 10/09/07 03:28 AM
If you have little or no money for a down payment, iffy credit and too many bills, an FHA loan could be what you need to buy a house. The Federal Housing Administration, a part of the Department of Housing and Urban Development, was created 70 years ago to help first-time buyers, especially low-to-moderate income families and minorities, get the home financing they need. You can apply for an FHA-backed loan from most banks and mortgage companies. Just click here to find all of the FHA approved lenders in your area. Since the federal government guarantees repayment, the lender knows it … (1 comments)

idaho home loan: Home loans are affordable - 10/09/07 03:26 AM
Forget much of what you've heard about how difficult and costly it is to get a mortgage right now. The great majority of borrowers are obtaining loans and paying about what they would have last October. Our most recent survey of major lenders found the average cost of a 30-year, fixed-rate loan -- the most popular way to finance a home -- is still under 6.5%. Our extensive database of the best mortgage rates from across the country lists lots of lenders offering 30-year loans for 6.125%, or even 6.0%, with fees of $1,000 or less. When you look at what … (0 comments)