Friday, July 30, 2010
If you are a seller, here's an example - (look at the menu bar) How to market your listing with House Key State Bond Loan Program
Wednesday, July 7, 2010
According to Trulia, the cross-over point is about 15 times annual rent, the company believes. In other words, as a rough rule of thumb, homes are probably fairly valued in a city when they cost about 15 times a year's rent.
So, for example, if you're paying $10,000 a year to rent a place, think twice about buying a home that costs more than $150,000. Dean Baker, economist at the Washington, D.C. Think-tank The Center for Economic and Policy Research, came to a similar conclusion in research on the subject in recent years. “Fifteen times is the historic average”, he said.
CLICK HERE To Download A Full Size Copy of the Rent v Own Flyer
Looking at the numbers above, the total mortgage pmnt on a $200,000 FHA purchase is $1,337/mo (that includes principle, interest, PMI, taxes, and insurance. Compared to $1,100/mo rent, it’s more expensive, but don’t forget to look at the tax breaks from owning (interest and property tax write-offs). The bottom line, at $200,000, it makes sense to buy. A savings of over $119,000 over 12 years versus renting! Plus, rent will go up with inflation, your 30-yr fixed mortgage is fixed and more money over time goes straight to paying down your mortgage. Contact me for more information or to request a personalized mortgage planning analysis.
Dan Keller, Mortgage Advisor
Monday, July 5, 2010
I know for a fact that I have personally seen the increase in FHA/HUD loans over the past few years; and today, over 75% of loans being written are FHA loans. One of the factors leading to the increased popularity of FHA financing is the low down payment option and low credit score requirements. But as we know, with these types of numbers, comes guidelines; and such guidelines can pose huge problems for buyers, sellers, and realtors while trying to close a transaction.
Having learned the hard way, I decided it was time to document the more popular items that we've encountered during transactions so that you will not have to learn the hard was as we have. CLICK HERE to print your own copy of FHA Property Qualifying Checklist. Feel free to contact me directly if you may have any questions - (425) 350-7136 or email me at firstname.lastname@example.org
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