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Category Archives: Financing
USDA Eligibility Maps to Remain In Place…For Now!
ShareTweet The maps were supposed to change at the beginning of the year, but have now been left in place until October 15th 2014. USDA mortgages allow income qualified borrowers purchase homes that are considered “rural” with 100% Financing. They … Continue reading
Holy C.O.W.! [Cost of Waiting] In Today’s Market!
ShareTweet $30,000 is NOT chump change! However, that is what you could be giving up if you wait ONE YEAR to buy a piece of property. That’s right $30,000! Here’s the math… If interest rates go up 1% and property … Continue reading
Posted in Financing, Free Tips, New Borrower
Tagged buyer, education, financing, real estate, tips
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USDA Is Back to the Future…For Now
ShareTweet In October the USDA Eligibility Maps changed for the worse. After the Government shutdown the USDA maps reverted back to the previous, more favorable maps. On January 15th the future maps go back into effect. USDA guarantees loans for … Continue reading
Posted in Financing, Real Estate
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Breaking Rate News and Lending Update!
ShareTweet I’m pleased to tell you the FED just announced they would maintain their current MBS buying program (QE-3)! Here is a link to the news; http://www.reuters.com/article/2013/09/18/us-usa-fed-idUSBRE98G1D620130918 That means rates just took a nice drop after increasing sharply over the … Continue reading
Posted in Financing, News
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Big Changes to 100% USDA Financing!
ShareTweet As of October 1st 2013 the USDA eligible housing map will change! If your loan is not approved at USDA before that date there is a good chance it will not fund! If you are a Real Estate Professional … Continue reading
Rent with Option or Land Contract?
ShareTweet The answer lies in your own personal needs. Both are suitable means of helping a buyer into your property, but each has advantages depending upon your goals. Lets explore the structure of each, then your choice will be clear. … Continue reading
The Problem with Cash
ShareTweet New federal laws require every lender to document every dollar that moves into your account to thwart money laundering and assist the feds to catch the bad guys. What in the world, you may ask, does that have to … Continue reading
Posted in Financing, Free Tips, New Borrower
Tagged Cash deposits, closing costs., down payments, loans, Mortgages, originate, purchase, refinance, reserves
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What Documentation Will I Need?
ShareTweet It’s never “good enough” for me to know WHAT I need to provide to someone, I need to know WHY I’m providing it. Everyone’s situation is different, so the documentation may look different for every borrower. Let’s break it … Continue reading
Posted in Financing, Free Tips, New Borrower
Tagged advice, best interest rate, documentation, FHA, Low rates, Mortgages, real estate, What to bring
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Do I Really Need Title Insurance?
ShareTweet Borrowers ask me this question all the time. The resounding answer is maybe. First let’s talk about what it is and what it does. Title insurance insures the beneficiary that no liens exist except those specifically mentioned and detailed … Continue reading
Posted in Free Tips, New Borrower, Real Estate
Tagged foreclosure, insurance, investing, Morgage, real estate., title insurance
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Seller Concessions? What Are They & How Do I Calculate Them?
ShareTweet Seller concessions help people buy homes! The name implies that the Seller actually pays the buyer or makes a concession in the purchase price to benefit the buyer. In essence that is true, but in reality the Seller isn’t … Continue reading
