financing: Choosing Your Loan Officer: Don't Short-Change Yourself - 03/07/18 02:26 PM
Love this post from Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi on selecting a loan officer when getting your mortgage. This is most likely your largest purchase you will make, don't just think some online website is going to give you the best service. You need to do some research and make a selection before you ever start looking for homes so you have time to make an informed decision.
Read for yourself, in the same way selecting an agent to work with is also important for many of the same reasons.
 
 
Choosing Your Loan Officer:
Don't Short-Change Yourself
 

The … (8 comments)

financing: Avoiding a Homeowners Insurance Disaster When You Apply for a Mortgage - 03/15/17 10:01 AM
Tredyffrin Easttown home buyers, a great answer to why you need to obtain home owners insurance from a mortgage professional.
 
Avoiding a Homeowners Insurance Disaster
When You Apply for a Mortgage
 

When buying and financing a home, prospective Borrowers are required to produce a variety of documentation  and information to their Lender at the time of application and prior to the Closing of their loan.  In almost all cases, Homeowners Insurance is included within that documentation requirement.  
What service does Homeowners Insurance provide? Why is that service so important?
Homeowners Insurance policies offer multiple types of protection and coverage to an insured … (6 comments)

financing: Applying for a Mortgage? When "Plan A" Doesn't Work .. - 02/24/17 06:06 AM
Tredyffrin Easttown home buyers often ask about why they need to be pre-qualified before an agent will show them homes. And yes, there are plenty of agents and I am sure you will find one who will unlock a door and let you see the house. But this post below Applying for a mortgage? When Plan A Doesn't Work.. by Gene Mundt is a fine example of why we insist on buyers getting pre-qualified.
You are not always ready to purchase and it is better to discover the roadblocks early on and find your way around them as suggested in Gene's post … (15 comments)

financing: Frequently Asked Question: How much money do we need? - 01/14/15 01:44 AM
Frequently Asked Question: How much money do we need?
One of the most often asked questions from home buyers we hear is "How much money do we need to buy a home?" 
Yes, there have been lots of different mortgage products that cater to those buyers with little money for a deposit. And it has just been announced that loans with 3% down are being considered and offered.
However, this is not the end of the story. When you buy and sell a house there are what are called closing costs, agent commissions, transfer taxes, title insurance, mortgage fees, insurance, and … (0 comments)

financing: Investors, financing just got easier! - 10/14/14 05:09 AM
Investors, financing just got easier!
 
One of the issues for investors on the Main Line is getting financing for their purchases. Different lenders have different overlays for how many mortgages you can carry, how much money you need to put down credit scores and what you can use for income.
Prosperity Home Mortgage just announced some great news for investors.
 
·        Conforming Fixed rate investment loans with as little as 15% down! Borrowers may be able to qualify using rental income without previous rental experience.  
·        Conventional Renovation investment loans with 20% down allows financing cost of substantial repairs.
·        Non Warrantable condo … (1 comments)

financing: So many advantages - 05/08/14 01:47 AM
How can you improve your chances of buying a home especially when there are so many multiple offer situations?
Paying Cash, waiver of contingencies, mortgage pre-approval but what if you could actually not just have a pre-approval but an actual commitment when you go house hunting?
Prosperity Home Mortgage is offering buyers the Buyer Advantage. It takes about 7-10 days and you end up as a buyer with an actual commitment with a Commitment Letter putting you in a stronger position than a buyer who only has a pre-approval.
The Prosperity Buyer Advantage is complimentary, there is no additional cost to … (0 comments)

financing: What you need for amortgage pre-approval or application - 12/03/13 05:32 AM
Buying a home, everyone tells you to get pre-approved. But what do you need to do that? Nick Vandekar of Long & Foster Real Estate in Devon, PA interviews Eric may of Prosperity Mortgage about what documents you are going to need to get a mortgage pre-approval or to make a full application.

 
Hope this helped, if you have any questions or need help buying a home along the Main Line let us know and we will be happy to help you.
(0 comments)

financing: Old Forge Crossing prices - 09/30/11 08:14 AM
We recently have had several clients decide to rent their units rather than try to sell them in the current market at Old Forge Crossing in Devon. Prices this year have really come under pressure, with one bedroom units now selling in the low to mid $130's, one bedrooms with dens selling for high $130's or low $140's and few if any two bedrooms selling at all, although there is one currently under agreement with a listing price of $210,000.
Rents are all over the place, depending on how updated the units are, the more updated the higher the rent. If … (0 comments)

financing: What a difference FHA approval for a condo development makes. - 09/28/11 05:25 AM
Many buyers and sellers don't realize thast condo developments have a specific FHA approval process for financing, in the past this was done by mortgage lenders but this year HUD has allowed the developments themselves to apply for approval. Why would they do this - value for their owners. Prices in many condo developments have been falling across the country and these older condo developments whilst having been approved for FHA financing in the past found their approvals expiring. Many did nothing to extend these approvals and HUD actually extended many automatically last year but even this extension has now expired.
(1 comments)

financing: Need some tax money for your downpayment PHFA can help. - 08/06/09 11:55 PM
Many buyers today don't have enough savings for a downpayment. But the Pennsylvania Housing Finance Agency (PHFA) is helping buyers by monetizing the First Time Buyers Tax Credit allowing them to use it as a downpayment helping those who are short of money. This money can be used towards the downpayment requirement or towards closing costs.
Of course there are some restrictions and the plan varies depending on what you are buying. For New construction PHFA will lend you $6000, if it is a resale then that figure reduces by $1000 to $5000. If you repay this loan before June 30 … (0 comments)

 
Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) Rainmaker large

Nick Vandekar, 610-203-4543

Tredyffrin Easttown Realtor, Philly Main Line

Devon, PA

More about me…

Long & Foster Real Estate Inc 610-225-7400

Address: 92 Lancaster Avenue, Devon, PA, 19333

Office: (610) 225-7400

Mobile: (610) 203-4543

Email Me

Some thoughts and ideas about Tredyffrin Easttown Real Estate that might help you when you buy or sell.


Listings

Links

Archives

RSS 2.0 Feed for this blog