construction financing: Market assessment - Rate influencers - Closing costs - Year-end tax pointers - 12/16/11 02:07 PM
As the year draws to a close, time to do a little market assessment....
It's a buyer's market, for homes and investment. Short sale and REO values are low due to market weakness and over-supply. REO rehab values are even weaker due to lack of mortgage programs to finance them. (Ever wondered why the lender doesn't just provide the loan?) Rental markets are strong. (I prefer 2,3,4 unit investment). More info. Mortgage financing is (an inceasingly more) fickle business. Thorough prequalification is key. Here is a form you can use to get a PQ from me. Credit improvement is even more fickle, and also becoming … (0 comments)
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construction financing: 2011 opportunities, mortgage trends, credit checklist - 01/01/11 06:06 PM
Happy New Year, and best wishes to all for 2011! I see opportunities on the investment front: the economics of rental and fix-flip properties make a lot of sense. I have both loans, and investors for this. /// Home buyers, often driven by market stats, will probably not be in a hurry, but maybe they should be! There are deals to be had now which will be gone once the market turns or flattens. Regardless, I am ready with professional support and financing. /// Note that construction and rehab financing is now available for investment and owner-occupied property. /// Let's get busy! - Paul
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construction financing: Short-term dev financing - FHA premiums up Oct 4 - 80+% ltv conv loan challenges - 08/23/10 12:16 AM
Short term development financing is readily available for 1-4 unit properties: 65% of purchase price, plus 75% of rehab/construction cost. /// FHA premium increases are postponed till Oct 4th (See below). /// Make it a good week folks. - Paul FHA premium increase postponed to Oct 4th. The FHA premium increase has been postponed to October 4th. The upfront premium (added to the loan amount) will DECREASE from 2.25% to 1.00%. The annual premium (1/12th added to te monthly payments) will INCREASE from 0.55% to 0.90%. A quick calculation tells us the break even (equivalent) is approx 3.5 years. Read more. Conventional loans over 80% challenges
There are … (1 comments)
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