Good Morning!
Did you know that I can do an FHA loans down to a 580 credit score now?
...Yes I can!
Here's a few things needed to qualify for this program...
1) We either need 12 months cancelled rent checks, or if you rent from an apartment complex we'll need a verification of rent from the complex.
2) No mortgage or rent lates in the last 12 months.
3) Gifts are allowed for down payment and closing costs.
4) Online home buyer education course required - I can show you how to do this.
If your credit score is between 580 and 620 and you want to purchase a home - you need to apply with me. The odds are I can get you a mortgage.
...and, we're talking a good, low interest rate, fha loan!
Here's the link to my application page... http://loansdonequickly.com/apply-now-2/
Thanks for reading! ...and, have a great day!
Brett
Monday, September 26, 2011
Thursday, September 22, 2011
How To Build Repairs Into The Purchase Price...
Good Morning!
I've written you about this before, but I wanted to touch on it again today.
I ran into this issue just 2 days ago - and I wanted to share with you how to roll repairs into a purchase price.
If you are buying a house that needs minor repairs - but the seller refuses to do them - what do you do?
This situation happens a lot, especially on bank owned homes.
The simple answer is to use an escrow hold back. ...an escrow hold back is a small amount of money that is held out of the seller's proceeds from the sale to make the repairs.
You have to write the escrow hold back right into the contract - under special provisions. To avoid having to rewrite this clause - be specific. Your realtor will need to write - "An escrow hold back in the amount of $______ will be used for (specific) repairs."
One key with the escrow hold back is the repairs need to be minor - and they can't take that long to finish. ...an average amount of an escrow hold back is $1,500 to $3,000.
Knowing how to solve minor repair problems on an offer - can sometimes make the difference between getting a great deal on a house, or not buying it at all.
If this situation comes up with your deal - just give me a call - I can help you out.
Thanks for reading! ...and, have a great day!
Brett
I've written you about this before, but I wanted to touch on it again today.
I ran into this issue just 2 days ago - and I wanted to share with you how to roll repairs into a purchase price.
If you are buying a house that needs minor repairs - but the seller refuses to do them - what do you do?
This situation happens a lot, especially on bank owned homes.
The simple answer is to use an escrow hold back. ...an escrow hold back is a small amount of money that is held out of the seller's proceeds from the sale to make the repairs.
You have to write the escrow hold back right into the contract - under special provisions. To avoid having to rewrite this clause - be specific. Your realtor will need to write - "An escrow hold back in the amount of $______ will be used for (specific) repairs."
One key with the escrow hold back is the repairs need to be minor - and they can't take that long to finish. ...an average amount of an escrow hold back is $1,500 to $3,000.
Knowing how to solve minor repair problems on an offer - can sometimes make the difference between getting a great deal on a house, or not buying it at all.
If this situation comes up with your deal - just give me a call - I can help you out.
Thanks for reading! ...and, have a great day!
Brett
Monday, September 19, 2011
A Very Simple Way To Reduce The Number Of Years On Your Mortgage...
Good Morning!
This may sound funny coming from a mortgage guy, but sometimes it's not necessary to refinance your mortgage to reduce the number of years left on your mortgage.
I have to tell people sometimes that it just doesn't make sense to refinance. The drop in rate isn't significant enough to warrant the costs of the refinance.
...but, what do these people do when they want to refinance to reduce the number of years on their mortgage?
One simple thing you can do is simply pay more each month on your current payment.
I'll give you an example...
On a $100,000 30 year mortgage - if you just add $120 to your payment every month you will pay your mortgage off in 20 years.
...If you add $250 to your payment on a $100,000 30 year mortgage you would pay the mortgage off in 15 years.
Easy right!
That's it for today!
...by the way if you know of someone needing to be prequalified for a mortgage loan - I appreciate your referrals!
Thanks for reading! ...and, have a great day!
Brett
This may sound funny coming from a mortgage guy, but sometimes it's not necessary to refinance your mortgage to reduce the number of years left on your mortgage.
I have to tell people sometimes that it just doesn't make sense to refinance. The drop in rate isn't significant enough to warrant the costs of the refinance.
...but, what do these people do when they want to refinance to reduce the number of years on their mortgage?
One simple thing you can do is simply pay more each month on your current payment.
I'll give you an example...
On a $100,000 30 year mortgage - if you just add $120 to your payment every month you will pay your mortgage off in 20 years.
...If you add $250 to your payment on a $100,000 30 year mortgage you would pay the mortgage off in 15 years.
Easy right!
That's it for today!
...by the way if you know of someone needing to be prequalified for a mortgage loan - I appreciate your referrals!
Thanks for reading! ...and, have a great day!
Brett
Subscribe to:
Posts (Atom)