Is it possible to get 100% Financing? The foll...
Published Tuesday, May 16, 2006 by Real Estate Pro.Equity borrowed from any source that is arm's length or not tied to the property purchase or sale transaction. Downpayments may not be paid out of or included in the insured mortgage.This includes recovery of any lender cash back incentives.
Sources that are not arm's length or tied to the purchase or sale of the property, either directly or indirectly, are not permitted.
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Is it possible to get 100% Financing?
The foll...
PRIVATE MORTGAGE MONEY An alternative to seekin...
Published by Real Estate Pro.Private Lenders Club members lend monies based more on the applicant's equity in their property and the total loan to value ratio that the financing will represent. Individuals with good credit and income but the property that they are looking to arrange financing on is difficult to finance. Finally, individuals that have good credit, good income and a strong positive net worth but for privacy reasons they choose private financing.
Tagged: equity
PRIVATE MORTGAGE MONEY
An alternative to seekin...
RealtyJuggler Calculator Available For Windows Mobile Devices
Published Monday, May 15, 2006 by Real Estate Pro.RealOrganized, Inc. announced today the availability of RealtyJuggler Calculator for Windows Mobile / Pocket PC Devices. RealtyJuggler Calculator is software that agents can use to do real-estate calculations such as rent-vs-own comparison, computing monthly mortgage payments, or determining the maximum loan a buyer can qualify for. The company also offers "RealtyJuggler Deluxe", an organizational software for agents, which we mentioned here.
Tagged: Mortgage
RealtyJuggler Calculator Available For Windows Mobile Devices
Buying a Home?
Published Sunday, May 14, 2006 by Real Estate Pro.What’s important to you in the house you want to turn into a home? You want a home that will appreciate in value, so purchase a home that is not the best home on the block, but one you can work on and improve, especially if you are young. Persuasion is a different animal altogether, and if they choose to process your thinking and feeling don’t feel too challenged, they might want the best for you in the long run.
Tagged: Mortgage
Buying a Home?
Why Does My Lender Need A Home Appraisal?
Published Saturday, May 13, 2006 by Real Estate Pro.For example, if your home has a finished basement, the appraiser will attempt to locate other homes that also have basements. Many times, depending on the type of home being appraised, the appraiser will attach additional pages describing various adjustments or market conditions that may influence the value of the home. As you can see the appraisal report is much more than just the initial visit to your home.
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Why Does My Lender Need A Home Appraisal?
Using Appraiser Trainees - The Safe Way
Published by Real Estate Pro.Increased Liability Exposure In the past a licensed appraiser would hire and supervise up to two trainee appraisers. We have seen a single appraiser sign as many as 1,500 appraisals per year with the assistance of numerous trainee appraisers and it is reasonable to assume that preparation of these appraisal reports by the trainee appraisers were not supervised properly. 25% of claims reported to us during 2005 involved a trainee appraiser.
Tagged: refinancing
Using Appraiser Trainees - The Safe Way
How Much Will a Home Cost You?
Published by Real Estate Pro.Just some rough, ballpark numbers (using a fixed, 30 year mortgage rate) -
A home loan of $100,000, with a 6.5% interest rate will cost you $632 a month in principal and interest ONLY (not counting taxes, insurance, escrow, closing costs, etc. here).
A home loan of $200,000 at 6.5% interest will cost you $1264 per month (again, principal and interest only).
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How Much Will a Home Cost You?
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Published by Real Estate Pro.If you do go to Open Houses and are asked if you are working with another Realtor, just tell them you're working with me (Keith Byrd) and I told you to go look at the property. If you do contact a Realtor to show you property, don't be surprised if they ask you questions like: - are you working with another Realtor? - have you talked to your bank or mortgage agent about what you can qualify for? - how soon are you looking to make a purchase?
Tagged: Mortgage
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Published Friday, May 12, 2006 by Real Estate Pro.Another rise in interest rates! At nearly a 4 year high, mortgage interest rates reflect the state of the economy. "The last time the 30-year fixed was higher was the week of June 26, 2002, when the benchmark rate weighed in at 6.57 percent.
"The benchmark 30-year fixed-rate mortgage rose 5 basis points to 6.56 percent...One year ago, the mortgage index was 5.95 percent; four weeks ago, it was 6.43 percent," reports Bankrate.com.
Tagged: Mortgage
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Buying And Selling: Seesaw Sales
Published Thursday, May 11, 2006 by Real Estate Pro."A lot of consumers have been having affordability problems, which is why a lot of them have been taking out ARMs," said Chen. "But with ARM rates rising, fewer people have been able to afford a home, which was also behind last week's decline in applications."
Note the fact that things are still considerably less than sunny in South Florida, and you can get the picture.
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Buying And Selling: Seesaw Sales
Buying and Selling: The Realtor Curse II
Published by Real Estate Pro.Remember my friend who was selling her home in upstate N.Y.? Seems her realtor--a former co-worker (Warning sign #1)--nearly bollixed her entire home sale by inexplicably overestimating her buyer's potential property taxes by almost $3,000, then demanding to keep his commission!
She managed to restore the sale, took a minimal financial hit, and reported his behavior to his brokerage, the Greater Rochester Realtors Association, etc.
Tagged: Mortgage
Buying and Selling: The Realtor Curse II
Homeowners Are Strapped, Glued and Screwed
Published Wednesday, May 10, 2006 by Real Estate Pro.In case you're wondering how "personal savings" is defined, the BEA explains it here : Personal saving is the amount left over from disposable personal income after expenditures on personal consumption, interest, and net current transfer payments. If expenditures on personal consumption, interest, and net current transfers exceed disposable personal income in a quarter, personal saving will be negative.
Tagged: equity
Homeowners Are Strapped, Glued and Screwed
Buying and Selling: Family Valuations
Published Monday, May 01, 2006 by Real Estate Pro.Now, it's human nature to want to gravitate towards communities that share your physical makeup, religious beliefs, social standards, etc., but I'd like to think it's also human nature to want to meet new people and have new experiences, and it's just unsettling to think of developers quizzing potential buyers as to their political persuasions, so as not to match a red-state gun nut with a blue-state nancy boy.
Tagged: Mortgage
Buying and Selling: Family Valuations
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Last posts
- Is it possible to get 100% Financing? The foll...
- PRIVATE MORTGAGE MONEY An alternative to seekin...
- RealtyJuggler Calculator Available For Windows Mobile Devices
- Buying a Home?
- Why Does My Lender Need A Home Appraisal?
- Using Appraiser Trainees - The Safe Way
- How Much Will a Home Cost You?
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- Buying And Selling: Seesaw Sales