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va: 10 Real Estate Deal Killers........ - 03/06/09 03:04 PM
I attended a class the other day called "10 Things to Ask Your Buyers Before Taking Them House/Condo Hunting" and will be addressing those issues in an upcoming blog entry but wanted to put together a list of what can kill a deal for a buyer or a seller. Please feel free to share this information with your buyers and sellers!
Skipping the Mortgage Preapproval Process: For buyers, getting preapproved for a mortgage gives them a clear idea of how much they can safely borrow, plus it addresses credit issues and kick-starts other financial paperwork. What's more: it identifies them … (4 comments)
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va: USDA Rural Housing Program - Buyer Can Get 2/1 Buydown with Start Rate of 3.75%! Less than 4% is HERE!! - 12/10/08 12:13 AM
Based on today's rates, a buyer can get a 30 year fixed rate mortgage on a 2/1 buydown (rate is bought down 2% the first year and 1% the second year) with a rate of 3.75% the first year, 4.75% the second year, and 5.75% years 3 through 30! This gives you a better payment and cash out of pocket at closing than does a VA or an FHA loan!
There is a cost to do this of 2.1% of the loan amount and this can NOT be paid by the buyer - it can be paid by the Seller, the … (0 comments)
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va: VA Refinancing Changes - May Help Veterans in Financial Distress with Their Mortgage - 10/29/08 09:50 PM
Of Potential Benefit to Those in Financial Distress
WASHINGTON -- Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs (VA) guaranteed home loan. These new options are available as a result of the Veterans' Benefits Improvement Act of 2008, which the President signed into law on October 10, 2008.
"These changes will allow VA to assist a substantial number of veterans with subprime mortgages refinance into a safer, more affordable, VA guaranteed loan," said Secretary of Veterans Affairs Dr. James B. Peake. "Veterans in financial distress due to high rate subprime … (3 comments)
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va: Choose the Right LOAN OFFICER, as well as the right Lender. - 10/20/08 07:50 PM
While it may be tempting to choose a loan officer and lender strictly based on the lowest-quoted interest rate, it is recommended that the decision be prioritized by a different standard - their reputation. As the loan officer to provide you with testimonials from past clients, as well as ancillary-related professionals (you can see mine here). Google your prospecitve loan officer's name and see what type of information that they are contributing to help buyers and sellers and Realtors®. (It is suggested you google the first and last name of the loan officer, the word "mortgage" and the city … (0 comments)
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va: Florida Real Estate Foreclosures: Inflated Facts or Fiction?? - 10/19/08 10:05 PM
Florida has gotten the reputation for being "the foreclosure capital of the nation". What they don't tell you is that the basis of this "fact" is the the Lis Pendens filing, which is the first step in the foreclosure process.
A Lis Pendens is file and it can take 6, 8, 12 8, and even 24 months in some cases to actually get to foreclosure. During this time (after the filing of the Lis Pendens and prior to the foreclosure), many of these properties are being sold (either as a short sale or a regular sale), or some of the … (3 comments)
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va: With Down Payment Assistance Gone, How Long Will It Take To Buy a Home? - 09/27/08 08:15 AM
On October 1, 2008, the ability to get an FHA loan and have the seller contribute to a down payment assistance program such as Ameridream ends. The passage of HR 3221 by Congress took this feature away, ending the ability to have the seller help a buyer to get 100% financing on an FHA loan. A buyer will now have to contribute 3% towards down payment (3.5% after January 1, 2009) for an FHA mortgage.
A lot of potential buyers are now feeling as if they can't buy a home until they save money for a downpayment. This is NOT the … (3 comments)
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Sue Botelho-USDA Rural Housing Mortgage Pro
Fort Walton Beach,
FL
More about me…
Waterstone Mortgage Corporation
Address: 2 Park Circle, Suite A, Ft. Walton Beach, FL, 32548
Office Phone: (850) 362-6901 x 2
Cell Phone: (850) 797-7946
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