Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
Sign up for the Daily Drop so you don't miss out on AR's daily happenings
Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
Get your content in front of more eyes
Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
fha: How Much Money Do I Need to Buy a Home? - 05/19/13 04:48 PM
How much money do I need to buy a home? Well, the simple answer is it will depend. The first question that needs to be answered is which financing program you are applying for. Each program has their own minimum down payment requirements. For example, the FHA mortgage will require a 3.5% down payment whereas, the USDA loan is a 100% financing program that does not require a down payment. The conventional Homepath program only requires a minimum of 3%. And of course, I can't forget the $100 down HUD program for the purchase of a HUD foreclosure. Now that we have (0 comments)
fha: FHA Renovation Loans - Consultant vs. Streamline - 05/13/13 05:06 PM
FHA Renovation loans are available in two different formats, streamline and consultant. The consultant loan allows for more extensive repairs. The streamline program caps the repairs at $35,000.
The advantage of the FHA renovation loan, is that the underwriting criteria including credit, down payment, income and reserves are the same for the standard FHA 203(b) loan. Please remember that in order to use the FHA program, the borrower must intend to occupy the home as their primary residence.
Here is the list of eligible and ineligible repairs for the Consultant Loans:
fha: High Credit Score Doesn't Guarantee Mortgage Approval - 11/05/12 06:40 PM
A high credit score doesn't guarantee mortgage approval, but having a good score will at least get you past the first hurdle. Lately, that is how I have been viewing the mortgage process, a series of hurdles on the way to finish line (closing table).
Depending on the financing program, a high credit score may be more closely scrutinized if there aren't many trade lines. A trade line is the number of open and active accounts that are shown on the credit report. It may be necessary to supplement the credit report by showing other types of accounts being (10 comments)
fha: Is It Too Late to Refinance??? - 08/26/12 06:48 PM
Is it too late to refinance? Maybe, maybe not. Being able to refinance now depends on the type of mortgage you have on your home and if your account in good standing.
Here are the options:
FHA mortgage – This program allows for a streamline refinance to a lower interest rate without an appraisal. This can be a huge benefit if your home has lost equity.
FannieMae – A mortgage owned by FannieMae may be eligible for the DU Refi Plus program if it was originated prior to 2009 even if your mortgage is more than the (4 comments)
fha: Atlanta Home Buyers need to know...Part 3 - 07/06/12 07:56 PM
Atlanta home buyers need to know just how important it is to maintain your financial status during the home buying process. Atlanta home buyers will be asked to disclose their assets on the mortgage application. An asset can be a checking account, savings account, a 401(k), IRA, pension, stocks or bonds. In essence, any account that is currently held in cash or can easily be converted to cash.
As part of your mortgage application and documentation, we are going to ask you for the last two statements for all of your asset accounts. This is the same for (0 comments)
Can I finance a house that needs repairs? This is probably the second most asked question by many home buyers. Why? Many of the homes available in the marketplace are in need of substantial repairs.
There are many cases homes where the HVAC units may need to be replaced because they have been removed, kitchens have been stripped of cabinets and appliances and even electrical fixtures are also missing.
The options for financing a home in need of repairs will depend if the property is for a (6 comments)
Have you every heard the expression, “That is a loaded question!” If every there was one, that is it.
How much you can qualify for will depend on the property type, meaning is the application for a primary residence, second home or investment property?
It will also depend on the type of financing program you decide on, is it conventional, FHA, VA, USDA or Jumbo.
In addition, the total amount of any other outstanding liabilities including any child support or (6 comments)
fha: From a caterpillar to a butterfly - renovation loans - 05/08/12 11:35 AM
From a caterpillar to a butterfly is the best analogy for the purchase of a home in need of repairs when the home buyer uses one of programs designed to cover these repair costs. There are three programs that may be available depending on the buyer's qualification, they are: FHA 203 (k) Homepath Renovation Loan Homestyle Renovation Loan This loan product allows for the costs of repairs, improvements, appliances, etc. to be built into the financing of the home. Repairs such as: Carpeting Cabinetry Heating/Air Conditioning units Painting Roof repair or replacement Windows Appliances There are some restrictions that should be noted: (18 comments)
fha: A Hugely Successful Day - 04/29/12 05:50 AM
Everyone has their own definition of success. This past week, for me it was two closings for two first time home buyers. Each transaction was slightly different. The first was a short sale where we waiting for 8 weeks for the bank to approve the short sale. Once we had approval, it was 19 days to closing! The compliments at the closing table were overwhelming. The second was an FHA purchase with some repair issues that included potential lead base paint and consequently we encountered a few delays. Even with the delays, everyone had smiles on their face as they (9 comments)
fha: Credit History Is Necessary - 04/22/12 09:10 PM
There have been many changes in the underwriting process for a mortgage. If you want to borrow money, you have to prove you have a satisfactory payment history. This applies to applications for a mortgage, car loan, or credit cards. In the mortgage process, the most important is showing on time payments for your housing. If you rent from an apartment complex, it can be documented with a verification of rent. If you rent from an individual, you must be able to document that payment history, Ideally, payment by check is preferably, at minimum would be by money order. The worst is (12 comments)
fha: FHA Collections Policy Changes Delayed - 04/11/12 07:01 PM
This spring there will be many changes affecting the FHA mortgage program. As of April 9, 2012, the Upfront MIP will increase to 1.75% for loans with a 3.5% down payment; and 1.2% for loans with a 5% down payment. The maximum loan amount is still determined by county statistics. You can check for the limit for your county by going to the HUD website County Loan Amounts.
Good news for home buyers that have not made their purchase if they have a collection on their credit report. There was to be a significant change in policy regarding outstanding collections (2 comments)
fha: Did you hear? FHA is making changes in June - 03/08/12 09:45 AM
Yesterday I wrote a blog about FHA changes taking place in April 2012. Did you hear? FHA is making changes in April Well, just when you thought it was over, there are changes coming in June 2012 too.
Effective June 11, 2012, there will be additional MIP increases on loans >= $625,500. There are a limited number of counties where loans are allowed to be at or above this limit. In GA the only county is Greene County that this would affect. More information will be provided as we get closer to that time frame. If you have (3 comments)
fha: Did you hear? FHA is making changes in April - 03/07/12 01:42 PM
Yes, they are changing again! This change goes into effect on FHA case numbers ordered on April 9, 2012. Buyers should consider this if they are ready, willing and able to purchase now. The change is the Upfront MIP is going to 1.75% from 1% of the loan amount. As an example, a $200,000 loan will now have a UFMIP payment of $3500 vs. $2000 now. I can tell you from past experience, waiting until the last minute is NOT a good idea. The system was so bogged down, it took much longer for the numbers to issue. You don't (5 comments)
fha: More FHA Changes Scheduled for April 1, 2012 in Georgia - 03/04/12 05:07 PM
Yes, you read that headline correctly, more FHA changes are scheduled for April 1, 2012. As a real estate agent, it is important for you to be aware of how this going to impact your buyers using the FHA financing program. Please keep in mind, these will apply to all programs, FHA purchases, FHA 203(k) rehab loan, and streamline refinances. So, here are the changes in a nice little chart for you. These are based on FHA loans for the state of Georgia based on county loan limits. In this example, I will assume the minimum down payment of 3.5% The (2 comments)
In the previous post in this series, we discussed the eligible property types, eligible repair type, ineligible repair types and some general guidelines. Once you have determined this is the best financing method there are a couple of things you should know about the required paperwork. The FHA 203(k) financing program does require more documentation. Getting this right the first time will help expedite the process. Here is what you will need: · Complete borrower credit package · FHA appraisal stating “as is” and “after improved” values on the same appraisal report's · Contractors resume · Contractors business license and (3 comments)
fha: FHA 203(k) financing – Eligible Properties - 02/25/12 12:22 PM
One of the most underutilized financing programs available is the FHA 203(k) program for home buyers that want to buy homes in less than perfect condition. The FHA financing programs have allowed many first-time homebuyers over the last two years to achieve their dream of homeownership with its minimal down payment of 3.5% and low interest rates. The FHA 203(k) financing program will include the cost of the repairs into the mortgage financing. The down payment will be calculated based on the acquisition costs plus the cost of the repairs. To qualify for this program the property must be (2 comments)
fha: Don't cash that check! - 02/06/12 10:40 AM
You're buying a home, congratulations on your decision. This advice will serve you whether you are applying for a Conventional, FHA, VA, Rural Development (USDA) or Jumbo loan. One issue that seem to come up from time to time during the mortgage process are non-direct deposits made into the bank account. I have some helpful advice for you to get you through this process.
Keep in mind part of the mortgage process will be documenting all financial transactions associated with this purchase. This would be identifying the funds for your earnest money, the appraisal fee, and the source of your (0 comments)
fha: Buying a Georgia home in 2012?-Let's talk dates - 01/23/12 10:09 AM
When you make an offer to purchase a property, your real estate agent will prepare the document for you. It is necessary to keep in mind that this is a legally ending agreement. In addition the terms of your offer including the timeframe for specific performance will be outlined. This is an excellent time for you to review with your loan originator a realistic expectation of the loan process. A conventional loan with a 20% down payment can be closed more quickly than an FHA, VA or USDA loan. The three dates that need to be monitored will be: 1. (2 comments)
We all understand the basics of mortgage underwriting are based on three components. They are: 1. credit 2. collateral 3. capacity All borrowers must meet the minimum credit standard for any of the financing programs that they may choose regardless if it's conventional, FHA or VA. The next piece of the puzzle is regarding the collateral. The collateral can easily be defined as the security for the loan amount requested. This is determined by underwriting the appraisal to determine if the current value is sufficient to support the loan amount. The last piece of the puzzle is based on (2 comments)
fha: Buying a Georgia Home in 2012? Let’s Talk About the Do’s and Don’ts - 01/09/12 08:47 AM
Without question, the mortgage industry has changed over the last few years. Not necessarily for the worse, but it has become more stressful for home buyers, especially first time home buyers that have not been through the process. Regardless of the financing program, here is my list of do’s and don’ts to help eliminate hurdles as you go through the process. 1. DO NOT apply for any new credit 2. DO NOT change jobs 3. DO NOT make cash deposits into your checking account 4. DO NOT transfer funds from one account to another 5. DO NOT make any large (11 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.