assistance: Mortgage Loan with a 500 Credit Score? It's Possible! - 01/18/11 02:49 PM
According to a number of Wells Fargo Home Mortgage originators, Wells Fargo will now allow an FHA borrower to get a mortgage with a credit score of less than 600.
In exchange for a larger down payment and a lower overall debt load (lower Debt-To-Income ratios), Wells Fargo Home Mortgage currently allows borrowers to take out an FHA loan on a purchase transaction with a minimum credit score as low as 500.
Here are the details as I understand them:
The credit policy change was posted to Wells Fargo Home Mortgage originators on January 14, 2011 and takes effect for purchase transactions … (10 comments)

assistance: Home Buyers in Sandy, Utah Value Having an Agent on Their Side - 03/12/09 01:29 PM
We recently purchased our first home in the Salt Lake area.  In choosing a realtor, we considered several options, but ultimately chose to work with Benjamin Clark based on positive recommendations we'd received.  We weren't very familiar with the concept of an Exclusive Buyer's Agent (EBA) at the outset, but during the home buying process learned how valuable it can be to have our realtor looking out solely for our interests.  We never felt pushed into a particular house as we might have with a realtor who also had an interest in selling certain homes.  Our experience with Ben was quite … (2 comments)

assistance: Are Downpayment Assistance Programs Bad? - 10/03/08 07:49 AM
So were (are?) Downpayment Assistance Programs bad? I don't think DAPs are bad in and of themselves. But coupled with additional items from the lender's bags-of-tricks, they likely contributed to a number of defaulted mortgages, including some that will continue to default as adjustment dates and balloons come due.
(Click Here to read How a Downpayment Assistance Program Works)
Here's why: In many cases, those who got this "help" from down payment assistance programs, unfortunately also bought more home than they should have. They went for the big new home instead of the more traditional "starter" home.
In order to buy … (0 comments)

assistance: Downpayment Assistance Programs (DAPs) or, The "Money-Go-Round" - 10/03/08 07:37 AM
Downpayment Assistance Programs are being allowed less and less. One "stated" reason is that they likely helped contribute to the breakdown of the real estate market.  
Here's how a downpayment assistance program (DAP) usually worked: The Seller would give 3% plus some "administration fee"...
(sometimes 1% of the Purchase Price)
to a "neutral" third party "non-profit corporation"...
(Did I mention they sometimes took up to 1% of the Purchase price in exchange for providing a paper and money shuffle?)
who would then "gift" that money (well, just the exact amount needed) to the Buyer to use as a Down Payment. … (0 comments)

assistance: Utah County First Time Home Buyers Want Someone on Their Side - 06/20/08 06:22 AM
We recently purchased our first home in Utah County with the assistance of Benjamin Clark.  We had been researching homes and the home-buying process for about a year before we decided the time was right.  After reading a lot about the process, it became clear to us that we wanted someone representing our interests exclusively.  Retaining an exclusive buyer’s agent was the only way to do that.
We discovered that Benjamin Clark was the only exclusive buyer’s agent in the area.  Initially, we had a few concerns.  We were a little concerned that we only had one choice and that Benjamin … (5 comments)

Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) Rainmaker large

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

More about me…

Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office: (801) 969-8989

Mobile: (801) 999-8889

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