If You Want To Buy A House Now, Not Later, Consider This...

 It's true that mortgage rates are higher than they were a year ago.

However, the real estate market has also changed over the past year.

Consider this trend for buying a house a year ago vs today...

1 Year Ago...

 

Listing price:  $450,000

 

Sales price:    $500,000

 

10% Down

 

4.5% Rate

 

Payment $3,028

 

Today...

 

Listing price:  $450,000

 

Sales price:    $425,000

 

10% Down

 

6.5% Rate

 

Payment $3,053

If you are ready to go find the house you want, do it now.  It's no longer a seller's market.

Give us a call or shoot us an email and we will be happy to help you!

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
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Rules For Gift Giving On FHA Loans...

 FHA gift questions come up often.

I wanted to give you the rules on FHA gift giving. Here ya go…

Acceptable gift donors for FHA loans…

1) Borrower’s relatives.
2) Borrower’s employer or labor union.
3) A close friend with a clearly defined and documented interest in the borrower.
4) A charitable organization.
5) A governmental agency or public entity that has a program providing home ownership assistance.

Unacceptable gift donors for FHA loans…

1) The seller.
2) The real estate agent or broker.
3) The builder or an associated entity.
Gifts from these sources are considered inducements to purchase, and must be subtracted from the sales price.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

 

Get Pre Approved For A Loan Here
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Alternative Documentation Loan Products Available...

 Hello!

We are a full service mortgage lender.  This means we provide a broad spectrum of loan options to help you get what you want.

We have the lowest rates on Conventional, Jumbo, and Government loan products, but we also have other products to help you if you don't "fit" into the box of a normal loan.

Here is just a small sample of some of the alternative loan products we offer...

Multi Family             We can do residential properties 5-24 units up to 7 m loan amount.

Fix and Flip               Cash available for purchase and restoration.

Foreign Nationals    No income required, 70% LTV,DSCR approval.

ITIN        Bank statement for the self-employed or W-2 .

P/L          Alternative to bank statements for just one spouse.  2 year P/L needed. 80% LTV.

1099       80% LTV

VOE        When tips, cash earning needed.

If you or someone you know wants to buy or refinance a house call our office and let's see if we can help you out!

Happy Thanksgiving!

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog