Good morning!! I was just on the FNMA Homepath site and found that there are 2,293 homepath homes in Clark County, NV (Las Vegas area). For transactions that close by June 30th, FNMA is offering to pay 3.5% in closing costs AND a $500 bonus to the Realtor. That's a win-win; unfortunately there are no bonuses for the lender other than we have to put up with quirky underwriting guidelines. Go sell those Homepath homes.
I am currently working on two FHA 203(k) Streamline loans for clients who are going to end up with houses that were in the neighborhoods they want for schools, work and recreation access and had the layouts they liked but without the renovations the 203(k) Streamline allows, the homes would not have been acceptable and we wouldn't have had a deal on either of these properties for either client. However, since these clients and their Realtor had the ability to see how great these homes could be with the right work and their own design cues, we have two solid commissions coming our way and can expect referral business from a couple of very excited clients. Additionally, the contractor we work with is so thrilled with all the work we have been giving him that I got a call over the weekend from a new Realtor who has a client that may need the FHA 203(k) Streamline.
While we are talking about what I believe to be a great loan in the FHA 203(k) Streamline, let's not forget the Energy Efficient Mortgage which can work hand in hand with either the 203(k) Streamline or the regular FHA 203(b). You can finance energy efficient appliances such as refrigerators, hot water heaters, A.C. units and other items with this loan and keep your buyers' cash in their pockets. If you are in the Las Vegas area or would like an excuse to come and visit, my partner and I are teaching a class with Service 1st Energy Solutions on May 11, 2011 from 11:00 - 12:00 (light lunch included). Please RSVP since the seating is limited. At this seminar you will get up close and personal with the latest technology in solar thermal water heaters, photovoltaic energy panels, and other great energy saving technology that can offer your clients a net $0 utility bill.
Please feel free to share your thoughts and ideas below or contact me directly with questions or to RSVP for the seminar.
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