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buyer: How do I Find a FHA Approved Condo for My Homebuyer?
- 02/20/12 01:51 AM
As you know condo financing has become much much much harder! But what do you do if you are working with a homebuyer who is FHA approved and wants to buy a condo. You can not rely on the listing agent’s comments on if it is approved for FHA financing, since some times they are wrong or their information is out of date. And you can’t drive all over the city hoping to find a condo your client likes and cross your fingers it is FHA approved. So here are the 3 quick steps to find FHA approved condos for your … (2 comments)
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buyer: How can I get a Home Financed with No Oven? Here is how
- 10/18/11 07:54 AM
Many times when purchasing a foreclosure, the home will be missing some items. Some things are required for a mortgage lender to lend on the property. Or give you a mortgage. One of these items is the oven. A home must have an oven to get financed. But what do you do if the home doesn’t have one and the seller won’t install one? Your answer is the Escrow Holdback, and here is how to structure the escrow holdback in regards to the oven:
1. Seller- When negotiating the contract you can ask the seller to do an escrow holdback. … (4 comments)
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buyer: Home Buyer Tax credit for Teachers, Police Officers, Firefighters, EMT’s and other Professionals. MCC
- 06/08/11 11:35 AM
There is a Home Buyer Tax Credit for Teachers, Police Officers, Teacher Aide; School Librarian; School Nurse; School Counselor, Emergency Medical Services Personnel; EMT, Peace Officer; Corrections Officer; Juvenile Corrections Officer; County Jailer; or Public Security Officer, emergency care attendant; emergency medical technicians; emergency medical technicians - intermediate; emergency medical technicians - paramedic; or Licensed paramedic, Peace Officer, County Jailor and Corrections Officer. This Home Buyer Tax Credit is called the MCC Home Buyer Tax Credit. The MCC stands for Mortgage Credit Certificate and few lenders offer to do them. I offer it and do not charge anything to do the additional … (0 comments)
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buyer: Prezi is PowerPoint on Steroids!! Check it Out!
- 03/24/11 06:07 AM
All I can say is WOW. Move over PowerPoint, here is Prezi. This is hard to explain with just words so I have attached a video below on how to do. Prezi is a "slide show" like tool to be used for presentations. Instead of using traditional slides, try Prezi. It is based on one large canvas. You can zoom in and out from the presentation. Or shot from one topic to another. Like I mentioned, this is really hard with out seeing. So check out the intro video below. Go to Prezi and check them out. Whether this is for a … (3 comments)
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buyer: Houston Real Estate Market Report – June 2010
- 07/27/10 04:16 AM
This is good information if you are interested in buying a home in Houston, Texas. www.DaveYourMortgageGuy.com
Even with the ending of the Federal First Time Homebuyers Tax Credit, Houston Realtors are still reporting positive growth. In June of 2010, the Houston Real Estate Market showed a 2.9% increase in single family sales compared to June of 2009. Sales volume in all price sectors showed gains with the exception of the $150,000 - $250,000 sector. There are many reasons why this portion of the market did not see positive growth. One nice surprise was a 4.1% increase in the $500,000 and up … (0 comments)
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buyer: FHA Case Numbers- What you need to know and how it affects you
- 07/23/10 05:41 AM
When a lender starts a FHA loan they must apply for a Case Number thru FHA. Only one case number can be attached to a buyer and property. Here is how a FHA case number can be an inconvenience to you and your clients:
Your buyer applies with one bank/lender but decides to go with another. The second lender must get the original case number transferred to them. This can take one day to a week or longer, it depends on how friendly that previous lender is. I dealt with a large bank that had a case number and took … (1 comments)
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buyer: Which Immigration Visa's can a buyer have to still get a mortgage??
- 03/01/10 12:01 PM
I often get asked which visa's are okay for some one to get a mortgage. I have even run into clients who had a visa I was not familiar with. So I wanted to pass this info along. These Visa's are approved for someone to get a fha or conventional mortgage:
E-1,2,3 G-1,2,3,4, H1B and H1C L-1A and L-1B NACARA P-1 R-2 TN V-1,2,3
Visa's that have requirements:
H-4:only if H-1B is on the loan L-2: only if L-1A and/or L-1B is on the loan P-4: only if P-1 is on the loan R-2: only if R-1 is … (1 comments)
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buyer: That previous FHA appraisal is Haunting me!!!!!!
- 02/19/10 01:19 AM
"What I have to use that FHA appraisal????? WHY???" Well, here is the easy answer "you have to". FHA requires that if an appraisal has been done on a property in the last 6mths, it must be used. Your next question "how would FHA even know". When you do a FHA loan it must go thru "FHA Connection", FHA's website and it knows everything like Big Brother. Here are some things to keep in mind with this topic:
"I can't get the old mortgage company to give me the appraisal"- No Problem you have a couple options: - Contact … (4 comments)
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As you know condo financing has become much much much harder! But what do you do if you are working with a homebuyer who is FHA approved and wants to buy a condo. You can not rely on the listing agent’s comments on if it is approved for FHA financing, since some times they are wrong or their information is out of date. And you can’t drive all over the city hoping to find a condo your client likes and cross your fingers it is FHA approved. So here are the 3 quick steps to find FHA approved condos for your … (2 comments)
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