We have been told that MHDC has targeted the end of April as the next time for release of more funds for Bond Money for first time home buyers, the last issue in February ran out approximately second week of March. With 100% programs being eliminated the demand for bond funds is high for first time home buyers and I expect the new bond issue to go in a matter of days not weeks.
My advice, if you have a first time home buyer as a client have them get pre-qualified NOW and get all of their paper work done for their loan prior to the issue, I would then go ahead and put a contract in pending the release of the bond funds so that on Release date that contract can be faxed for reservation.
Secondly I would advise any client to have a plan B back up just in case something happened and there was a delay in bond funds, there are some alternatives that we can do and having a plan B for the client up front is always wise and is part of planning for a smooth transaction.
Planning, hard work, and clear communications make for very smooth closings.
OakStar Bank stands by its closing guarantee.
1) closing costs are at or below what is disclosed on the good faith estimate
2) a representative from the bank will be at the closing to answer any questions.
3) the documents will be prepared and delivered to your title company a day prior to closing.
Best of luck to those of you who have open houses tomorrow afternoon, Spring is here and hope you have a great turn out. If you need me during the afternoon you can reach me at 417 447 7927, my direct line will roll to the cell phone on evenings and weekends.
Thanks so much!
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