toms river: 2008 THE YEAR OF FHA - 12/27/07 12:57 AM
2008 THE YEAR OF FHA  
REASONS FHA WILL BE HUGE IN 2008REASON #1 : T0 AVOID HIGHER RATESYour clients can avoid the new Risk Based Pricing* now being charged for Conventional Loans .* The following Risk Based Pricing is now being charged on Conventional loan with less than 30% down:
1. Credit Score below 620 add 2 points or about 7/8% higher to the rate
2. Credit Score 620-639 add 1.75 points or about 3/4% to the rate3. Credit Score of 640-659 add 1.25 points or about 1/2 % to the rate
4. Credit Score of 660-670 add .75 to points or about 1/4% … (0 comments)

toms river: RENT VS. BUY - 11/27/07 03:57 AM
WAITING ON A FRIEND  
I thought I would share this real life scenario.I have a friend that is planning to rent a home even though he is more than qualified to buy . However, he wants to "wait out the market"
So, I started to think about the cost of rent, the tax write offs he would be missing, and the lost opportunity for equity growth, and thought, why wait?
I entered his data into a rent versus buy calculator on Yahoo to see what the results would be.
Here are the facts I entered:
 For Renting
Rent is going to … (1 comments)

toms river: Where is the market headed? - Expert Real Estate Opinions (Bad ones) - 11/13/07 02:03 AM
60 Years of Bad Real Estate Predictions  
Lets keep today's "expert opinions" on real estate in perspective.The Santa Barbara Association of Realtors put out this information some time ago:The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." (Time, December 1, 1947)"Houses cost too much for the mass market. Today's average price is around $8,000-out of reach for two-thirds of all buyers." (Science Digest, April 1948) "The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs $28,000." … (2 comments)

toms river: FHA Is Back! - 11/12/07 02:23 AM
FHA IS BACK !  
5 Reasons to Consider FHA
1) As Little as 2 1/4% Downpayment
2) Credit Scores 600 or Below are Often Approved.
3) Coborrowers Income Can Be Used To Qualify (They don't have to live there)
 4) Seller Can Pay All of the Closing Costs
5) Only Two Years Required After Bankruptcy
 
(5 comments)

 
Bill Turano (Mortgage Master)

Bill Turano

Brick, NJ

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