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first time home buyer: First Time Home Buyer Tax Credit as Down Payment or: Dirty Deeds Done Dirt Cheap - 05/29/09 10:09 AM
First Time Home Buyer Tax Credit as Down Payment or: Dirty Deeds Done Dirt Cheap
I think this is an important discussion to have so I am going to post this blog a few days in a row to make sure it gets out. There is a lot of confusion concerning the First Time Home Buyer Tax Credit especially now that FHA has approved the funds to be used towards down payment and I am looking to simplify things for you like I have been trying to do with all of my blogs.
This one, I feel is of great importance … (3 comments)
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first time home buyer: First Time Home Buyer: FHA at a glance - 05/19/09 01:01 PM
First Time Home Buyer: FHA at a glance
The following was a general overview of the FHA loan program and a guide to figure out if this is the loan program for you.
Availability: Available in all areas.
Type of Homes they finance: Most property types. Single Family Properties and Multi-Family Properties will qualify. Site Condos are viewed the same as Attached Condominium Properties and are acceptable if they are approved condominium projects. You can search approved projects here: ******. Manufactured properties are acceptable if they meet individual lender requirements. Modular, Stick-Built, or BOCA-code properties are acceptable. Working … (0 comments)
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first time home buyer: First Time Home Buyer: Rural Development at a glance - 05/18/09 04:01 PM
First Time Home Buyer: Rural Development at a glance
The following was a general overview of the Rural Development loan program and a guide to figure out if this is the loan program for you.
Availability: Available outside of high-density urban areas. For a more detailed area of qualification contact your lender or view our website: www.iconmortgagelending.com
Type of Homes they finance: Most property types. Single Family Properties, Site Condos, Multi-Family Properties, Modular, Stick-Built, BOCA-Code, large parcels, and some unique properties will qualify. Attached Condominium Properties are acceptable if they are approved condominium projects, you can contact … (0 comments)
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first time home buyer: First Time Home Buyer Tax Credit as Down Payment or: Dirty Deeds Done Dirt Cheap - 05/14/09 03:21 PM
First Time Home Buyer Tax Credit as Down Payment or: Dirty Deeds Done Dirt Cheap
I think this is an important discussion to have so I am going to post this blog a few days in a row to make sure it gets out. There is a lot of confusion concerning the First Time Home Buyer Tax Credit especially now that FHA has approved the funds to be used towards down payment and I am looking to simplify things for you like I have been trying to do with all of my blogs.
This one, I feel is of great … (0 comments)
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first time home buyer: (First Time) Home Buyer’s Frequently Asked Questions - 05/08/09 01:02 PM
I will be adding to this list as I go along, but I wanted to start a nice comprehensive FAQ for homebuyers. I put "first time" in parenthesis because really this can apply to anyone buying a home, but this will apply mainly to the questions I get from first time homebuyers.
Q: Why buy instead of rent?
A: Well, pride of ownership and having something that is yours to do with what you want. A home is also a long-term investment for your future. Don't let all of the exploding market talk scare you. Real Estate prices go up and … (0 comments)
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first time home buyer: First Time Home Buyer: How to Demand Transparency from your Loan Officer - 05/07/09 12:18 PM
There are so many ways for a loan officer to fool you and I have heard them all in my time in the business. Now I bring this knowledge to you in how to demand that your loan officer never fools you. I will also cite all of the documents that your loan officer is legally required to show you yet rarely will. I will make you as close to impenetrable as possible.
Interest Rate: Ah the interest rate. As a consumer it is always the first thing on your mind, and always the first tool you use to shop for … (1 comments)
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first time home buyer: Rural Development Funding Still Available - 02/10/09 10:10 AM
Hello all,
I, and pretty much all of our people at Icon have had many Realtors calling us over the past few days concerning the health of Rural Development loans. Apparently, some lenders are having problems dealing with the lapse in funding at the USDA.
Please be Aware that we are running business as usual with Rural Development loans.
Our main two RD channels are committed to closing and funding loans while new funds are in process of being appropriated for the USDA. There is no back up, there is no hold up, there is no closing issue. If you are having … (0 comments)
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first time home buyer: Michigan First Time Home Buyers: Preparing Your Docume - 12/12/08 12:46 PM
I find that the first hurdle a First Time Buyer faces is getting their paperwork together. I am not sure why, but honestly this simple task dissuades many people when they start to apply. Perhaps following this list and having it ready at the outset will help the process seem smoother.
Last two years of W-2s or Tax Returns. If you can't find them, you can always contact your employer, your tax preparer, or the IRS for a copy.
Most recent month of pay stubs. 1 month worth...the most recent available.
Most recent 2 Months of bank statements. If you don't … (0 comments)
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first time home buyer: Michigan First Time Home Buyer: An Overall Guide - 12/09/08 09:34 AM
For a first time buyer, there is so much to worry about and so many levels of details to address, that I just want to provide a good general guide to how to start the process. You can refer to my other blogs for more detail, but I think this is a great overview.
Purchasing anything, will cost you money. A home is the biggest purchase you will ever make, but most people expect to spend less than when getting an apartment. Any decent complex will want first, last, and possibly a security deposit. That's at the very least $1000. Have … (0 comments)
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first time home buyer: Michigan Real Estate Purchase: Escrow Account - 12/01/08 11:33 AM
What is it? An escrow account is basically a mandatory savings account to pay your taxes and insurance from. Every month you will pay your mortgage payment and a portion of that payment will go to the mortgage and a portion will go to the escrow account. When your tax and insurance bills come due, they will be paid from your escrow account company automatically. You will never see a tax or insurance bill, yet they will get paid.
Why do you need it? With almost all loans an escrow account is required by the lender you are getting your loan … (0 comments)
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first time home buyer: Michigan First Time Home Buyer: How to Prepare - 11/24/08 11:01 AM
I talk to hundreds of first time buyers year after year and there are hundreds that don't qualify by just a bit. They are so close but can't get it done. I explain to them how close they are and offer direct advice on how just a month or two of fixing their issues will get them where they want.
I go through the trouble to give them the advice they need knowing full well that they will not follow up. Whether it is the lack of confidence to overcome or just plain laziness, so many of them give up and … (1 comments)
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first time home buyer: Michigan Real Estate Purchase: First Time Home Buyer Tax Credit - 11/24/08 10:29 AM
There is a whole bunch of confusion concerning this new First Time Home Buyer Tax Credit and I am looking to simplify things for you like I have been trying to do with all of my blogs.
I think that the most important thing to realize here is that it is not free money! It is not. It is in effect a no-interest loan from the government. It is to be repaid over a 15 year period. You won't be able to default because it will be taken out of your income tax refund of added to your charge every year.
… (0 comments)
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first time home buyer: Michigan Real Estate Purchase: Credit Scores and What to Think about Your Score - 11/18/08 09:54 AM
I know it is hard to understand exactly what your credit score is, how it is calculated, and especially how it affects you when you want to buy a home. Here is a general, and easy to understand guide to your score in reference to obtaining a mortgage.
Below 500: Well I can't sugar coat it, you are in pretty deep. This is where it may be a good option to seek consultation from a good attorney or a non-profit credit repair service (emphasis on non-profit).
501-560: You score is pretty low, but not beyond repair. You will not be able … (0 comments)
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first time home buyer: First Time Home Buyers: The Credit Conversation and a Confidence Conundrum - 11/12/08 10:17 AM
Undoubtedly, one of the first concerns of a first time buyer is their credit. What I see in a lot of first timers is merely a confidence issue. Like I said, this starts with credit but permeates every aspect of the loan process. Much like any good team, confidence in each other is really the fuel that fires success. I have this conversation with all of my first time buyers. If you don't believe in me, don't use me. The same way that if I don't believe in you, I won't work for you. Especially in this foreclosure driven market, you … (0 comments)
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Matthew Watts
Grand Blanc,
MI
More about me…
Icon Mortgage Lending
Address: 3025 E. Hill Rd., Grand Blanc, MI, 48439
Office Phone: (810) 953-4266 x 205
Cell Phone: (810) 919-8138
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