In defense of home ownership - 2010 closing cost study - USDA loans available and why you care
July home sales fall. Why are we surprised? Let's agree that the market stats are not good. Let's also agree that people were attracted to the tax credit and bought by April 30th, few bought in May and June of course, July and August are always slow, and given that the NAR counts the close as a sale (which means the stats are always say 60 days late) it stands to reason that July closes are way down, and also that Aug/Sep/Oct will not be much better. Below are two articles that may give you some needed ammo. Hey, maybe THIS is the time to buy? /// Have a good week folks. - Paul
In defense of home ownership
It's hard to read the headlines and not conclude that becoming a homeowner is a terrible idea. But by wallowing too much in the misery of others, people looking for a new place to live run the risk of thinking every home purchase will end in regret, at least financially. Read more.
Five reasons home ownership trumps renting. Read more.
It's hard to read the headlines and not conclude that becoming a homeowner is a terrible idea. But by wallowing too much in the misery of others, people looking for a new place to live run the risk of thinking every home purchase will end in regret, at least financially. Read more.
Five reasons home ownership trumps renting. Read more.
USDA loans available again - and why you care.
The Supplemental Appropriation Act, 2010 was signed into law. These additional funds are sufficient to meet remaining fiscal year. Why do you care? 100% financing, no PMI, seller concessions. Plus, eligible areas the USDA considers rural are not rural at all. Here's the beef.
The Supplemental Appropriation Act, 2010 was signed into law. These additional funds are sufficient to meet remaining fiscal year. Why do you care? 100% financing, no PMI, seller concessions. Plus, eligible areas the USDA considers rural are not rural at all. Here's the beef.
2010 closing cost survey
On average, the origination and 3rd party fees on a $200,000 mortgage added up to $3,741 in this year's survey. Is that a 36.6% increase over last year's average of $2,739? NY and TX are the most expensive. Check your state.
On average, the origination and 3rd party fees on a $200,000 mortgage added up to $3,741 in this year's survey. Is that a 36.6% increase over last year's average of $2,739? NY and TX are the most expensive. Check your state.
Available
- Formal same day approvals (subject to verifications)
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Homepath, other loans
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Homepath, other loans
- No MI financing to 90% LTV, $900,000
- Helocs (1st and 2nds) to 85% LTV
- Jumbo loans to $10MM
- 30-day closes (45-days for FHA)
- Condo (Fannie/FHA) certifications
- Sub 620 Fico loans
- 50-70% LTV stated income loans (600-700 Fico needed)
- 95% LTV Fannie Mae condo loans (exception basis)
- Loans for non-residents
- 203K and other rehab/renovation loans
- Non-warrantable property loans
- Home Equity Conversion Mortgages (Reverse mortgages)
- Commercial loans
- Condo (Fannie/FHA) certifications
- Sub 620 Fico loans
- 50-70% LTV stated income loans (600-700 Fico needed)
- 95% LTV Fannie Mae condo loans (exception basis)
- Loans for non-residents
- 203K and other rehab/renovation loans
- Non-warrantable property loans
- Home Equity Conversion Mortgages (Reverse mortgages)
- Commercial loans
I can be reached at 800-405-0676 (direct), or email.
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"The maxims of men reveal their character"
Luc de Clapier, Marquis de Vauvenargues (1715-1747)
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