First Time Home Buyers use FHA Mortgage and Seller Paid Closing Costs to Buy Real Estate Now. Best Market Conditions for Foreclosures and Small Sales in Decades. Go To realestatemarketingthisweek.com Part 2 (Excerpt) How having the Seller pay your closing costs can quadruple your money On the other hand if you roll that into the loan it’s going to take you 160 months to break even on that. 160 months which is a small over 13 years, that is the antithesis of the Velocity of Money that we talk about on the show every week, so I am not convinced that its the right deal for the masses, but something that should be considered is what is the opportunity cost of taking the money out of Account X and the type of account you taking it out of has some impact too. If it’s from a brokerage account then you experience the market loss in that account and youre selling at these low price levels, I reckon the markets are going to turn and the opportunity costs over 160 months, youre talking about a substantial amount of money. And the additional mortgage payment is insignificant. Obviously no one is going to allow you to pay more than the house is worth, that’s not what were suggesting. What were suggesting is merely to look at instead of simply making a lower offer than you would normally make, I’m suggesting that you consider the closing costs and what the real closing costs are in this example. Assuming that the house is already attractively priced, one of the things that this buyer …
Posts Tagged ‘time home buyers’
Real Estate Conditions 2 – Mortgage & First Time Home Buyer Dec08 Seller to pay Closing Costs
Friday, March 19th, 2010March Video Msg
Sunday, February 21st, 2010
New Focus Realty Video for their friends, family and past clients. This month we are announcing two free seminars. one on the FHA 203k Rehab loan and the other a Free First Time Home Buyers Class. See yourhomebuyerclass.com for more information.
Possible mortgage lender not returning our call?
Wednesday, February 10th, 2010My fiance spoke with somebody from Countrywide (the mortgage lenders) a small over one week ago. He gave the man all of our information (to get pre-approved) and we were pre-approved for a small bit more than we’re going to need for the condo’s that we’re looking at. (we were approved for 150,000, 6.5%, 30 year fixed rate)… FHA loan so we only need to place 3% down.
My fiance gave the man our fax # and the man said that he would fax over our pre-approval letter within the next 20 minutes.
40 minutes goes by and we have no fax, so we called back, but the man had gone home for the day. We called several times the next day (only leaving 1 mesg. on the answering machine, asking for him to please contact us at his earliest convience becuase we did not recieve the fax). Every day since then we’ve called back about once or twice, only leaving about 3 more messages (in total, not each day).
This obviously is not a excellent lender to use right?
We are young (21) and we are first time home buyers. We can afford to buy something larger near the 300,000 range but we’re starting off small with the condo (and we’ll work our way up). There are so many families having their homes forclosed during this time and we really do not want to be in that kind of situation.
We want to go with a well known mortgage lender. The next call we make will be to Wells Fargo. Any suggestions/tips/advice for dealing with mortgage lenders?
I’ve tried calling the main number (not putting in his extention number) and they told me that he was in the office and that the best that they could do for me was send this guy an e-mail letting him know I’m trying to reach him.
Both my fiance and I have excellent credit, on the line of brilliant…(we both got our credit reports about 1 month ago).
Tags: answering machine, call, convience, credit reports, e mail, extention number, fha loan, FHA Mortgage, fiance, first time home, first time home buyers, fixed rate, lender, little bit, mesg, mortgage, mortgage lender, mortgage lenders, possible, pre approval letter, returning, several times, time home buyers, wells fargoCan you use an FHA loan for new home construction?
Monday, January 18th, 2010I have brilliant credit, I am in a health care field with a very stable income, and my wife and I are first time home buyers. We would have the 3.5 – 4% down payment required by FHA. We are just wondering if it is an option to get a FHA loan for new home construction. Thanks for your help.
Tags: construction, construction thanks, fha home loan, fha loan, first time home, first time home buyers, health care field, home, loan, new home construction, stable income, thanks for your help, time home buyersSearch :
Related search on ‘time home buyers’
If you purchased a home in 2009 or early 2010, you may be eligible to claim the First-Time Homebuyer Credit, whether you are a first-time homebuyer or a long-time resident purchasing a new home. Here are seven things the IRS wants you ...
Graduated college with a masters degree (~$16000 in student loan debt); Bought a house (FHA loan) ($7500 first time home buyers credit that I will begin paying back in 2010's taxes); Bought an antique vehicle (not my primary mode of ...
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So my wife and I are in search for our first home. We were thinking of taking advantage of those first time home buyer loans that allow you to put less than 20% down. However, my wife is currently a cosigner on her par.
First time home buyers often face some common barriers to qualifying for a new loan: poor credit, feeling a bit overwhelmed, and a lack of knowledge about available options. Here are 5 tips to get you on the road to home ownership. ...
It is not uncommon to ask a buyer to put some money down (earnest money) on the home so you know they will follow through with the deal. You can request hundreds of dollars or even thousands of dollars at the time of the agreement and ...
IFC News Your Home : Home buyer tax credit (YNN Rochester) The $8000 first-time home buyer tax credit has been so successful that not only did the federal government extend the program, but they created a second credit.
The Government has made available an $8000 dollar tax credit to first home buyers for this year only. That's the time period between January 1st to December 1st. This does not have to be repayed. It is a big incentive to get people to ...
The Federal Housing Tax Credit for first time home buyers and move up buyers will be expiring soon. But there is still time to take advantage of the tax.
I heard that there are organizations that can help pay closing costs and offer grants for first time homebuyers of low income. I just read in the local paper.