Archive for Mortgage Tips
Government Tax credits for 1st time home buyers and move up buyers.
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www.federalhousingtaxcredit.com/
Buying a short sale!
Buying a short sale can be a great thing. For those who are willing to wait. If you are a First Time Home Buyer and want to close by December 1st 2009 that time has probably past for you to…
FHA Fico Score on the rise know your score!
If you were looking at buying a house and using FHA you better know your credit score. Banks have been on the war path raising middle fico score requirements on FHA from 580 to 620 and now most are going…
Seller paying closing costs!
It is very common these days to have the seller paying for all closing costs and in Lake County, IL they would include some of the following. This is an estimate of those fees some might be more and some…
The Perfect storm for First Time Home Buyers
My freind Dave from Denver called it right the other day when he said the housing market is a “Perfect Storm” right now for first time home buyers.
Being a fan of the book “The Perfect Storm” and now the show…
Affording more home!
Doing first time home buyer loans for the past 13 years the number one question I run into is “how do I afford more home?” My response is always the same “the question you should be asking is how do…
Why are home loans harder today?
People believe that banks give you a mortgage and put that mortgage in there vault, that just isn’t true. Most of the time let’s just say Bank of Somewhere gives you a mortgage and then they sell it to Freddie mac…
$8,000 is no big deal?
I heard today on a conference call that 47% of Americans don’t even know that they will get $8,000 in tax credits next year if they buy their first home now. Another 27% don’t beleive that $8,000 is a big…
Pre-qaulified vs. Approved
One of the most common questions we get from a first time home buyer is asking to be pre-qaulified. Really what they should be asking for is to be pre-appoved.
Being pre-qaulified is as simple as asking 10 questions over…
Pre-qaulified in this market
Why are so many Real Estate deals falling apart? Because the buyers are not pre-approved by a loan professinal prior to making an offer! Plain and simple.
Getting pre-approved in this market is more important then ever and below are some…