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Blog entries tagged with "payment":
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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
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Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
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Michael Shotnik
Take Advantage of the First-Time Homebuyer Tax Credit!
Why are FHA Loans back in business after so many years of being on the back burner?
"No money down" is still alive and thriving today! But, that's where you need to be a little bit savvy and know where to look. I'm not talking about a shady guy in a dark alley passing out green backs.
As today’s lending standards require higher credit scores and larger down payments than in the recent past, it’s more important than ever for buyers to be pre-approved for a mortgage before starting the home shopping process. Here’s why:
* Knowing exactly how much money you can qualify to borrow will ensure … (0 comments)
I wrote about the demise of Seller-funded down payment assistance programs just a few weeks ago-as of October 1st they will no longer be allowed.Well, things may turn around sooner than we originally thought.There is currently a bill in the House, HR6694, which, if voted into law, will resurrect the use … (0 comments)
Well, it's official. I got an email this morning from our last wholesaler that was offering to fund loans using seller-funded down payment assistance programs like Nehemiah or Ameridream, stating that they were going to stop accepting new registrations for loans using these programs. 
Not an easy thing to do nowadays. Every day in the newspaper there are stories of decreases in the values of homes, foreclosures, the subprime crisis, sinking stocks and rising gas prices (but now coming down). Does it make you want to wait to purchase a new home? What are you … (0 comments)
If you have available equity in your home and want to get cash, consolidate debt, or lower the overall effective interest rate on your total debts or lower your overall monthly debt payments, a cash-out refinance loan might be the solution you're looking for. With cash-out refinancing, you refinance your mortgage … (0 comments)
Earlier today our trusted mortgage expert Ginny came by our office to pick up a check and an application in order to enroll one of our tenants in credit cleaning. Generally whenever Ginny stops by she fills us in on any new developments in the mortgage world. Today she informed … (3 comments)
A lot has been said here on Active Rain and many other places about the elimination of seller funded Down Payment assistance programs and many other "reforms" coming out of the housing reform bill.
Coming from an automotive finanacing background, I am a big leasing advocate - especially in our chosen professions. I realize this may be too much information for some and perhaps a bit boring, but I do get asked this question fairly often.
Could we fix the sub-prime mess by letting homeowners roll their 7 percent sub-prime 30 year mortgage into a 50 year 4 percent mortgage? What about just letting them keep the 30 year mortgage and reducing the rate to 4%?
What are you waiting for? Now is the time to buy. The housing prices could drop a little lower, great for a buyer? possibly not. If your sitting around just waiting for the bottom to fall out, the problem is the interest rates are raising and while your house may cost … (3 comments)
Buy versus Rent? There are many factors involved in this equation and like all things when considering real estate, location is key.
Despite its relative obscurity, a great investment tool for college bound students is growing in popularity among savvy college parents. The FHA loan program, affectionately nicknamed "Kiddie Condo Loans", is one of the best programs out there to help jump start a student's credit and provide a low down payment option … (1 comments)
A high credit score establishes a person's capability to secure loans and meet payment obligations on schedule. Based on the commonly used credit scoring system developed by Fair Isaac Corporation (FICO) back in the 1960s, credit score is determined with the following considerations:
Please join us either June 4th or 11th
Call for reservations 6:30pm to 8:30pm 469-429-0160 Leave name, number and DATE!
Refreshments will be served.
Click here to check outThe Frisco Real Estate Buying!
See you there!
… (1 comments)
This article was originally posted on DothanHomeSearch.com
From an email I received a couple of days ago-
When we close on a home mortgage, we agree to pay the mortgage company a specified monthly payment amount in a specified term "commonly 30 years". If we strictly adhere to the agreement terms - paying only our monthly obligation - it will take us the full term to pay off … (3 comments)
Case Study: Which is better? 
There has been some talk about these two programs lately. I'm actually surprised that more people don't get involved in the FHA rehab loan. It seems like in todays market place with so many bank owned homes that need some serious TLC, an FHA rehab loan would be perfect. This blog … (14 comments)
I do this as a side job to keep me occupied and have adult interaction since I am at home with the kids all day long. I absolutely love my job and will continue to do this as the work is out there. I am bad for allowing my payments to … (4 comments)
Just over a year and a half ago the real estate market in the United States was red hot and setting records all around the country. It is now coming to a screeching halt. There are a variety of reasons like interest rates that are increasing and also the affordability for … (0 comments)
Many homeowners considering a refinance have several factors to consider:
Wondering what your monthly mortgage payment will be...
You have found yourself in conversation about 1st time homebuyer assistance programs and didn't know exactly where to go, how hard it is, or who to trust. As a local agent, and resident for almost 30 years, I savor the hard work to match eligible customers with these programs. I have … (0 comments)
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In talking with my mortgage lender recently, I found out something interesting...
Our investor has allocated up to $650,000 from down payment assistance.
The phone rings, and you pick it up. It's another agent from somewhere not immediately local, but still within driving range (in rural Minnesota, I'd say within 60 miles or so.). You do what every agent would do. (At least in Minnesota!) You greet them cheerfully, and ask them how they … (109 comments)
Today's real estate market provides an excellent opportunity for renters to turn their monthly payments into equity. While rising slightly, interest rates now are still much lower than in the past ten to twenty years, and home prices in many areas are adjusting back down to reflect reasonable levels of appreciation.It's … (0 comments)
Central Payment Corp.
How to Take Advantage of Lower Mortgage Rates. The Fed has lowered again and you should take advantage of it!
When you rent a place to live, you can almost certainly expect your rent to increase each year - or even more often. If you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for thirty years. Even if you get an adjustable … (0 comments)
I have had numerous clients ask me lately, "Should I take a fixed rate mortgage or would I be better off with a variable rate?" So based on that, I came up with the following as a general guideline of fixed vs. variable to answer this question.
THESE THREE PROPERTIES ARE CURRENTLY LISTED FOR SALE WITHIN YOUR NEIGHBORHOOD. AND, THE SELLERS ARE WILLING TO CONTRIBUTE TOWARDS PAYING SOME OR ALL OF THE CLOSING COST.
I was bored last night so I felt the need to add a few more fruity flavors to the mix.http://www.mortgagesum.com/mortgagewidget/mortgage-calculator-widget2.phpIt's completely free and there is no need to register or set up an account. Just copy the code and paste it into your website or blog.Here are some other easy ways … (4 comments)
I am sure you will agree being at the right place at the right time happens very rarely. 
The first (and arguably the most important) consideration for most home buyers is what monthly payment they are comfortable with and what price range will that monthly note place them in. All lenders and most REALTORS(r) have the tools and ability to answer that question for you but what if you … (0 comments)
Every month we gear up for Eviction Day. It is the anti-holiday that comes about every 30 days or so. It is around the 6th or 7th of every month depending on the weekend schedule.
Buying a home is a BIG step! This step-by-step question and answer guide should give you the information you need to get started on your way to being a First Time Homebuyer.
By no means earth shattering news, but this week we started accepting American Express and Discover Card as additional forms of payment for subscribers.
Brian D in New Haven, CT writes: Stephen, I have noticed that rates have come down a little this month and I am thinking of possibly refinancing out of my 5 year adjustable. I was able to get a rate of 4.500% in June 2002 and I concerned about my payment … (2 comments)
I have both my real estate and mortgage broker license in Florida. I am employed as a W2'd mortgage broker in Virginia and I had a loan on a second home close on the 13th of June. The mortgage company only pays on the 15th and 30th. Apparently, since the loan … (7 comments)
Craig Schiller wrote a thought provoking post about Staging homes and time of payment - I agree and disagree (am I allowed to do both?) :-)
ASKING FOR 1/2 NOW AND 1/2 LATER I know for my interior design jobs, when I give an estimate I ask for a 50% deposit to cover all that I am going to buy and for my services. Once the job is complete I bill for final hours and the remainder … (11 comments)
Attention Real Estate Agents: 
… (0 comments)
This is a question that comes up quite often in the home buying process. Doesn't it make more sense to get a 15 year mortgage since the interest cost over time is reduced significantly?My answer in most cases is no. Not because I favor debt because I certainly don't. The problem … (1 comments)
The wrong mortgage can cost thousands of dollars in needless fees, interest and other costs.Many lenders have a handful of loan types that they use with almost all of their customers. You may qualify for special programs, but never hear of them. Many lenders use the loans that are most similar … (2 comments)
We all know that a persons FICO score is one of the determining factors of "worthiness" for credit. Payment history, indebtedness, type of credit, length of credit history and new credit are evaluated by a mathematical equation and assigned a number. That number is very important in the material world. The … (41 comments)
When I take an application from a new home buyer, I always ask..."What is your comfort payment, what payment range are you trying to target?" I think it's a bit suspicious when first time home buyers give a payment that is unrealistic with the price range. Now, I have to say that when I think … (7 comments)
Congress recently passed a law on behalf of all Homeowners who pay less than 20 percent down incurring PMI (private mortgage insurance) the opportunity to fully deduct this charge on income taxes starting in 2007. It applies to new loans for households making less than $100,000 per year. (Private mortgage insurance is a lender requirement … (1 comments)
Basically, there are three basic types of mortgages. 
Welcome to the United States, Mortgage Accelerator Program (MAP). That must have been a long flight from the UK and Australia. Is there anything that you would like to declare?
There is a dirty little secret that no one speaks about when it comes to buying your home. The secret is that the interest rate is just as important if not more important than the price of the home. Let me give you some numbers to think about. For this example … (1 comments)
