realestatemarketingthisweek.com – Forget the doom and gloom, First Time Home Buyers can buy with FHA – Part 1 – Thanks to my very great friend Brett Fallon for taking the time to be here in studio today. Brett is one of America’s finest financial advisors. And of course the infamous Dan Havey. Now we all love Dan Havey because he was instrumental in getting me into the mortgage industry about 14 years ago. Most importantly, Dan was instrumental in helping us put together the loan modification hotline and he is the author of Real Estates Future. So today we have a few things we want discussed in regard to the economy, what’s happened, were wrapping up the year. You may have heard about this in the media, of course the media’s job is to scare you. Well our job is to tell you the truth. So Brett you have some data and some information that you wanted to share Some of the things you hear in the media, you cant escape, its pretty much doom and gloom, sky is falling, this is the next Great Depression. It’s over for all of us and we should all just pack up and go. That kind of stuff is pervasive out there and creates fear and a lot of anxiety amongst people who are either investors, people who are looking to buy a house, looking to refinance a mortgage. People dont realize there are certain tools that exist that we will talk about during the course of the show today. They should understand that some of the things that we discussed prior to today’s broadcasts were interest rates …
Judy
November 30, 2010
First Time Home Buyer Tax Credit – Buy with Low Down Payment Loan – RealEstateMarketingThisWeek.com
November 28, 2010
Do I qualify for first time home buyer?
Hi,
Recently I want to buy a small condo for myself, however, I am not sure if I qualify as first time home buyer, because back in 2007, I actually bought a small condo with my ex-girl friend, however, I was not on the mortgage, only she is. I believe I was on the deed thou.
Do I still qualify?
Please help
Tracy
Quicken Loans First Time Home Buyer — Doug Blodick Mortgage Banker
Quicken Loans client Anthony from South Carolina, discusses in this video review how Quicken Loans and Doug Blodick helped him purchase his first home. Anthony was contacted by Quicken Loans through a mutual acquaintance. Doug Blodick, Anthony’s Mortgage Banker, was there to help him in any way possible throughout the loan process. He answered any questions and made sure to keep Anthony informed along the way. The whole process was made easy with e-signature and sending documents online. Anthony recommends Quicken Loans to anyone looking to purchase their first home or refinance.
Edward
November 27, 2010
First time home buyer credit going away – Dean Wegner* April 23, 2010
First time home buyer credit going away!!!!!!!!! Attention shoppers: You have barely a month left before the homebuyer tax credit expires. But depending on where you live, you might not want to rush out to buy. First-time homebuyers may qualify for up to $8000, while those who are trading up could get as much as $6500. But either way, buyers have to ink sales contracts by the end of April and close before July 1 to see the refund. And this is absolutely, positively your last chance to claim the credit. (Probably.) So don’t wait, thinking the credit will be extended for a third time. There is little sentiment for continuing this program, especially because many consider the latest iteration’s results to be disappointing. Even the Senate’s biggest proponent of the homebuyer tax credit, Johnny Isakson, R-Ga., is ready to let it end. “He has no plans to introduce legislation to extend the credit,” said Isakson’s spokeswoman. “Part of the benefit of the tax credit was the urgency its sun-setting generated.” That urgency was less pronounced after the latest extension, which was enacted last fall. While the first version, which just covered first-time homebuyers, netted huge sales jumps, the real estate market slumped over the winter and early spring. That may be because some people believed that Congress would just keep adding time to the game clock, according to Nicolas Retsinas, director of Harvard’s Joint Center for Housing Study. That could have kept them home by the …
Nathaniel
November 26, 2010
Things Every First-Time Home Buyer Should Know
The more you become familiar with the home-buying process, the more easily you can purchase the home of your dreams. For example, the major strain that the Florida first-time home buyer can save is the expenses in down payment. There are numerous programs available for first-time home buyers. All of them are briefed in this article here. We really would love to make the process of home buying a pleasant experience for you.
November 23, 2010
Tips for First-Time Home Buyers
Purchasing your first home is a big step that comes with some serious decisions. When you rent, instead of own, you are just buying the home for your landlord. Buying a home today is so easy there is no reason to wait, especially since home prices have come down. But, hurry! They are beginning to increase due to buyers rushing to get into the market at the lowest prices. Mortgage rates are also good, so the time is now. Here are some tips to get you started.
Before You Begin, Ask Yourself . . .
Will you live in the home for at least 3 years? If the answer is yes, then buy now. You can break even selling after 2 years the way that homes appreciate in this area, so moving anytime after 2 years is profitable for you. Considering tax advantages, you will more than break even; and, you can write off real estate taxes and the mortgage interest. Rent payments are generally the same as your mortgage payment, so it really doesn’t cost you.
No Down Payment!
Did you know you can buy a home with no money down? Mortgage companies are eager to loan you money if you have good credit and your salary justifies the loan payment. Don’t believe it if you are told you need a big down payment to buy a home . . . that is yesterday’s thinking.
Get Pre-Qualified
This is an easy process. Just call a mortgage company and discuss your situation. You can call your present bank or a mortgage Broker. Ask friends or family for a personal referral. Use someone with a good reputation. Interviewing lenders can be done over the phone, so interview a couple to find the right one for you. Besides asking the current rate, ask about closing costs. Once you select your lender, meet with them personally and get a pre-qualification letter that spells out what you can invest, interest rate and closing cost. You will now use this letter to shop for a home.
Consult a Real Estate Professional ASAP
The most important person in this transaction is the Realtor that you use. Be selective on how to choose your Realtor. Look on the web to find some possibilities. Do not just use the first one you come into contact with. Talk to a few and meet in person with a couple of agents before you look at homes. Make sure your agent sold at least 50 homes in the last year. Anything less than that means you are working with a new agent or one that does not have the experience that will best serve you. This agent represents you, so the agent you choose needs to know the area, have a lot of experience negotiating, and be committed to finding the best home and neighborhood that will meet your needs.
Make a list of “Must Haves” & “Wants”
It’s very important your Realtor know your criteria in order to find homes that meet your needs. You can go to http://www.realtor.com to view homes that fit your specifications. This will give you an idea as to what is possible in your price range and in the location you want. Once again, select your Realtor right away so if you become interested in new construction your agent can negotiate for you. You do not want to not be represented by a Realtor when you are purchasing your first home. This is very risky because this is a complicated purchase and no representation puts you at a major disadvantage.
Make a Decision
Once you find the best home that meets your needs, take action. Homebuyers often hesitate and this could mean you miss the best home that meets your needs. If you have chosen a good mortgage broker and a good Realtor, you should have the facts to make the right decision.
The time is right to buy your first home, so do not wait. If you have the right team of professionals assisting you, it is an easy, wise and exciting process!
Michael
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