My Lender Dan Keller

Marysville Meadows Offers Washington USDA Home Loan for Zero Down Financing

2011-07-17T23:30:00.000-07:00

As a Washington State USDA Mortgage Writer and Loan Officer, I am seeing a lot of homes in Snohomish County being sold with USDA Financing, but more specifically, homes are selling fast and oftern in the Marysville Meadows in North Marysville with the Washington State USDA Home Loan as the preferred financing option.

Washington State USDA Home Loan

The Washington State USDA Home Loan does have a few restrictions. Below, I address common mistakes that I see other loan officers and realtors make with their clients as it relates to getting approved for a USDA Home Loan.

There are a couple important things to consider as a first time homebuyer as you begin gathering information on buying a home:

(1) Does it make more sense to Rent or Buy right now (CLICK HERE FOR EXAMPLE)

(2) Do I even qualify for the Washington State USDA Home Loan
- annual household income restictions
- property eligibility guidelines
- is my credit good enough?
- what is the total monthly payment?

CLICK HERE FOR ANSWERS TO THE ABOVE-MENTIONED QUESTIONS

I have put together this website for you to see the True Value in purchasing a home in the Marysville Meadows. Click on the link below...

The Washington State USDA Home Loan Program is changing it's guidelines on October 1, 2011. Please click here - WASHINGTON STATE USDA GUIDELINES - OCTOBER 2011 for more information.

You can also contact me directly at (425) 350-7136 if you have any questions on qualifying for the USDA Home Loan or would like more information on buying a new home in the Meadows. Please contact me for more information on how Dan Keller and the Marysville Meadows can help pay all of your closing costs making this a TRUE Zero Down Home Loan Program!

Click on the link below for your Marysville Meadows USDA Homebuyer's Packet and a special Mortgage Discount for Marysville Meadows buyers.

Example of Total Monthly Payment Breakdown for the Marysville Meadows Home Above:

Contact me directly for more information to see if you qualify for a USDA Home Loan in Marysville and see how I am helping my clients pay off their debt and mortgage in 10 years or less. I can be reached directly at (425) 350-7136 or you can message me below.

Washington USDA Home Loans | Zero Down Loan Program Lake Stevens, WA

2011-06-13T22:49:00.000-07:00

This blog post is a result of me funding six out of my last ten Washington USDA Home Loans in Lake Stevens, WA. Between the attractive foreclosure and short sale homes for sale in Lake Stevens, and the Zero Down Marysville Meadows New Construction, the USDA loan program is running a tight race with Seattle FHA Financing and currently out-performing the Washington State House Key Program.

Why Washington USDA Home Loans are so popular for first time homebuyers:
(1) Allows for Zero Down Payment
(2) Does not require private mortgage insurance (PMI)
(3) Offers extremely competitive 30-year fixed rates - ask Dan for a FREE USDA Rate Quote
(4) Allows for the seller to contribute up to 6% toward closing costs/buy down points
(5) Great for financing Marysville New Construction and/or Washington Foreclosures
(6) Requires a min credit score of only 640

There are 2 main qualifying factors:
(1) The property has to be located in a USDA eligible region; and
(2) The total household income must be under a certain gross amount (see below)

Below I have provided a link and short video that will allow you to search a property address to determine if the property is USDA eligible. A general rule of thumb to consider: If the home is located on the East side of hwy 9 and north of 141st in Marysville (the Marysville Meadows New Construction) , it is eligible for USDA financing.

Is This Property USDA Rural Development Eligible?
Click here to enter a property address or watch the short video below for instructions

For additional information on Washington USDA Home Loan Household Max Income Requirements, click on the link below:

USDA Max Household Income Requirements

If you found this article valuable and would like more information on the Washington USDA Home Loan Program, you can contact me directly at (425) 350-7136 or email me at dankellermtg@gmail.com

Click below if you would like a FREE USDA Interest Rate Quote, FREE USDA Mortgage Pre-Approval or more information on the income and property eligibility guidelines.

Marysville New Construction | Marysville Meadows New Homes With USDA Zero Down Financing

2010-11-20T22:51:00.000-08:00

There is a fine line in Marysville, WA where homes are eligible for the USDA Rural Development Zero Down Loan Program, and where they are not. That line is near 140th and 51st (Shoultes Rd.) in Marysville, and local home builder Encore Homes was able to build on the "eligible" side of that line.

Another perk of being able to purchase a home in this 280+ home community is the mortgage payment. Relative to the list price ($162,900 - $207,000), the total mortgage payment is less than comparative rents for local 3 and 4 bedroom homes. Combined with the tax benefits of home ownership, it makes buying a home in the Marysville Meadows a sound financial decision if you see yourself staying in this home for the next 5-7 years.

See it for yourself, I have computed a Rent vs Own Analysis on a $200,000 home mortgage with a comparable rent. In this article, you will be able to compare the savings - Should I rent or Purchase A Home? After you read this short article, you can compare the total monthly payment on the Meadows Financing Breakdown. In addition to providing a discount of $500 toward your loan or closing costs, I am reaching out to first-time home buyers and offering a FREE Homebuyer Class at the Tulalip Casino & Resort.

If you may have any questions on buying at the Meadows, please feel free to contact me directly, and I will be happy to answer any questions that you may have in helping you get approved to purchase a home using the Washington USDA Home Loan Program.

Get Your FREE USDA Pre-Approved here: www.mymortgageguydan.com

Dan Keller
(425) 350-7136

http://twitter.com/dankellermtg

House Key State Bond Home Buyer Seminar | Tulalip Casino & Resort Marysville, WA

2010-11-20T14:45:00.000-08:00

The Premier FREE House Key State Bond Class Event in the NW!

Join us for our next House Key Home Buyer Education Class at the New Tulalip Casino & Resort on Saturday, June 18th at 10am. This class is sure to fill up fast! By attending the class, you will learn how to carefully navigate through the home buying process so that you can negotiate the best price and receive the best rate as you purchase your next home. You will also receive a certificate from the Washington State Finance Commission for up to $10,000 to be used toward your down payment on a home.

If you are thinking of buying a home in 2011, you won't want to miss what our brilliant panel of speakers are going to present.

The following professionals will share insider TIPS to buying a home in 2011:
(1) A Home Inspector
(2) A Buyer's Agent (Realtor)
(3) A Builder
(4) A Government (FHA, VA, and USDA) Mortgage Professional
(5) A FHA Underwriter from Bank of America
(6) A Title and Escrow Agent

As well, each attendee will receive a Home Buyer Concierge Pack that will include a Home Buyer Handbook, a Relocation Packet that includes discount vouchers to be used at Lowes, local business such as carpet cleaners, dry cleaning, health and fitness centers, day care centers, coffee and espresso bars, and more...

For more information or to register, you can go to:

www.2011HomeBuyerEd.com

Or you can call me directly at:
Dan Keller - (425) 350-7136

Bellingham USDA Zero Down Home Loan | Helping Whatcom County First Time Homebuyers

2010-10-22T23:30:00.000-07:00

One of the little known benefits of buying real estate in Whatcom County is the fact that due to the "rural" location of Bellingham and the surrounding cities, homes in the Whatcom County qualify for the USDA-Rural Development Zero Down Home Loan Program. That means that under the guidelines of this state-backed mortgage program, the borrower is not required to make a down payment nor are they required to have a monthly private mortgage insurance premium.

On a $250,000 home, the savings is two-fold: First, borrowers saves $8,750 in respect to the required FHA down payment (3.5%) and two, borrowers save $183/month in PMI (private mortgage insurance). These two savings make this program a “big win” for first time homebuyers helping them qualify for more home for less money.

There are however three main pre-requisites for qualifying for this program: (1) Borrowers must qualify under the maximum household income cap; (2) The home must be located in a USDA eligible region; and (3) The borrower(s) must have over a 620 credit score (please see Dan Keller, Bellingham USDA Mortgage Banker for information on credit qualifying guidelines and credit repair).

(1) The borrower must not exceed the annual household income requirements (ex. a family of 1-4 must not exceed a household income greater than $74,050 annually.) You may want to refer to the USDA household income worksheet, but I recommend a 3-4 minute phone call to discuss your ‘total household income’ under USDA guidelines.

(2) Second, the borrower must purchase a home in a USDA-RD approved region. In the map below, in the dark orange, you will find the ONLY areas in Whatcom County that are NOT USDA eligible. I have provided a link where you can by-pass the map and type in the physical address to get instant verification – CLICK HERE to verify a USDA eligible address. I always recommend that my clients work with a Realtor that understands the USDA Rural Development Program. From helping you find and locate a USDA eligible home, to understanding the funding and closing process, it is crucial that your Realtor understands this program. There is a Bellingham USDA Real Estate Agent that personally know does a brilliant job serving their USDA customers. His name is Briddick Webb with EXP Realty and he can be reached directly at (360) 920-1218 or briddick.webb@exprealty.com

(Please Note: First you need to click “accept” on the USDA page to proceed.)

(3) USDA Credit Score Guidelines. The USDA program is about as “flexible” as any loan program available today. In some cases, borrowers may even qualify with collections, a recent bankruptcy, or no credit history at all. However, in any of those cases, I highly recommend a strong approach to repair and/or build a more stable credit history.

If you are interested, I offer all of my clients a FREE, no obligation pre-mortgage credit analysis to address a clear game-plan for establishing A+ credit and detailing the home buying process.

As always, if you have any questions, please feel free to contact me directly at dan.mortgageadvisor@gmail.com or directly at (425) 350-7136.

Some Related Blog Posts You May Enjoy:

Is Now A Good Time To Buy Or Should I Rent?

FHA 203k Rehab Loan - Get Up to $35,000 From The Bank To Buy A "Fixer"

Four Ways To Buy With Zero Down

House Key State Bond - Homebuyer Education: How To Get $10,000 Toward Down Payment

Stanwood USDA Rural Development | Buying A Home In Stanwood For Zero Down

2010-10-08T18:12:00.001-07:00

Are you a thinking about buying a home in Stanwood? If you are, what are the top three questions you have about buying a home right now? Actually, let me guess: (1) Is my credit score good enough to qualify to purchase? (2) How much money do we need to put down in order to qualify for a mortgage and are there any Zero Down Mortgage Programs available in the Seattle area? (3) What do I qualify for, I heard I only need to make $40,000 to buy a $200,000 home?

All of these questions are very good questions and will be answered below. Cutting to the chase, if you have a consistent 2-year employment history, meaning, if you've worked in the same line of work and can document your income via tax returns, W-2's and college transcripts (if you spent time in college, that counts as viable work experience) then you most likely qualify for a home mortgage. The reason why I am not too concerned with your minimum credit score to qualify for a FHA, VA, or USDA mortgage is because I can build or fix credit in a short time... So, here are the answers to those BIG questions:

(1) Is my credit good enough to purchase a home with zero down?
You need a minimum credit score of 620 (possibly 580 on certain programs). Regardless of how low your score is, I have a special credit repair program for Seattle area home buyers, so don't let a past mistake detour you from making a great financial investment today...

(2) Can I buy a home in Stanwood, WA with Zero Down?
Yes, you can use the Stanwood USDA Rural Development Home Loan Program if you are buying a home east of highway 9 or north of 140th in Marysville. You can also use the Stanwood VA home loan. You must have served or are currently serving in the military and provide a VA Certificate of Eligibility and DD214. Lastly, you can use the Washington State House Key State Bond Loan Program that offers the only true zero down option for first time homebuyers. This program requires you to attend a 5-hour homebuyer education course in Everett, WA with Dan Keller, House Key Approved Mortgage Lender. In return, you get a state bond down payment assistance certificate for up to $10,000 to use toward your down payment, closing costs or buy down points.

(3) How much do I qualify for?
With this question, I typically refer you to call me, and within 5 minutes, I can Pre-Qualify you for a mortgage and give you an exact estimate that you qualify for with corresponding total monthly payment figures. You can request information directly from me by visiting www.mymortgageguydan.com

Below are two additional questions that surface daily...

(4) What are closing costs, and can we get the seller to pay our closing costs for us?
Closing costs are the sum of all cost associated with the mortgage process - bank and loan fees, title and escrow fees, and pre-paid and reserve fees required by the bank if you putting down less than 20% to cover property taxes and home owner's insurance so that in the event the borrowers ever default, the mortgage lender's security interest in the home is protected. Closing cost are typically estimated at 3% of the loan amount, and YES, nearly 100% of the time with my first time homebuyers we get the seller (or in the event the home we are buying is a foreclosure or short sale) bank to pay the borrower's closing costs.

(5) Can I get a great deal and buy a foreclosure short sale?
Yes. About 80% of the mortgage loans I write today are on foreclosures homes and short sales. You don't need to go to the court house and pay all cash for the home, nor do you need a special lawyer to buy these homes. Your full-time local Realtor that specializes in working with homebuyers should be able to advise you accordingly.

If you would like to discuss the Pre-Approval process for one of these great loan programs, I can be reached directly at dan.mortgageadvisor@gmail.com or at (425) 350-7136

Everett FHA 203k Rehab Mortgage Program | How To Buy REO's In Bellevue, Seattle & Everett, WA

2010-10-08T10:45:00.000-07:00

The FHA 203k Rehabilitation Loan is growing in popularity in the Seattle area as more REO's (bank owned), short sales, and older homes hit the market. The reason for demand of this loan program is mostly due to the inability (or unwillingness) of the seller, and in most cases that is the "bank" to pay for any repairs to distressed properties. Many REO or short sale listings today require special attention to deferred maintenance or repairs neglected by the seller or damages caused by the seller.

Recently I have been involved in 3 transactions that required repairs that exceeded my borrower's budget for the downpayment. The main purpose for writing this blog is two-fold:

(1) All 3 clients met with other realtors and loan officers that either tried to steer them in another direction, away from using the 203k loan, and even buying the one home they wanted to purchase. They were referred to me bacause of my knowledge, confidence and ability to fund these tough, but valuable mortgage loans.

(2) The other reason for writing this blog to to assist in building back some of our local communities by educating consumers, asset managers, realtors and banks of the power of this loan program.

The qualifying guidelines for this program fall under standard FHA Mortgage Guidelines:
- 620 min. Credit Score (Contact Dan Keller for 30-day Credit Repair)
- 3.5% Down Payment
- no debt-to-income restrictions, subject to AUS Findings
- down payment can be gifted from family, employer or non-profit organization
- non-occupying co-borrowers are allowed (a non-occupying co-signer)
- closing FHA 203k Rehab loans in 45 days or less!

The Seattle FHA 203k Rehabilitation Loan has two special program designed to help buyers:
1. The FHA 203k Rehab Streamline Program - this program allows for up to $35,000 in repairs to be done on the property and only 3.5% down, with min 620 fico score.
2. The FHA 203k Full Program - this program allows for total renovations and fall under regional FHA loan limits (King County $567,500). Please refer to the Powerpoint presentation on my Seattle FHA 203k Mortgage Website for more detailed information.

The FHA 203k loan program is basically a glorified home imprvement loan that is tied into one loan and a low, 30-yr fixed rate.
Some examples of repairs that are allowed are:
- Appliances
- Gutters, roof and down spouts
- Paint, and lead-based paint removal
- Flooring repairs
- Weatherizing, window, heating, plumbing, electrical...
- Additions and tear down of non-permitted work
... and so much more, please see the powerpoint presentation I have attached on my FHA 203k Website.

If you are a Realtor and are interested in better understanding the FHA 203k Rehab Program, please contact me directly at dan.mortgageadvisor@gmail.com and I will be happy to share with you everything you need to know to be prepared to market and offer this product to your clients.

If you are a homebuyer interested in using the FHA 203k Rehab program to buy your home and working with a local mortgage bank that specializes in FHA 203k mortgages, please contact me at www.mymortgageguydan.com directly at 425 350-7136.

Marysville FHA Mortgage Lender | Four Ways To Buy A Home In Marysville, WA For Zero Down

2010-10-05T23:32:00.000-07:00

With so many changes in the banking world, I figured it is about time for a brief blog updating my Realtors and consumers in my Marysville, WA Real Estate Market. Before we dive into taking a deeper look at the four main loan programs to buy real estate with less than $100 down, I want to discuss another growing concern: FHA Credit Score Requirements For First Time Homebuyers - and more specifically, what credit score is required to purchase a home in today's market.

Most banks (including mine) have what's referred to as "risk overlays" or in simple terms, their own separate qualifying guidelines. HUD governs FHA, VA, and Snohomish County USDA-Rural mortgage loan programs, and their minimum credit score requirements are 580. However, most banks (including mine) require a 620 credit score in order to obtain a mortgage. With that said, I want to make this clear - You Can Purchase A Home With Poor Credit. I have a team of credit repair specialists that work directly with me and my clients to help repair credit in usually 60 days or less. Click on the live link above for an example of how our system works, and if you have any questions, email me at http://www.blogger.com/dan.mortgageadvisor@gmail.com

With all of the negative press surrounding the banking industry and housing markets, many of the clients and real estate agents that I speak to are unaware of the great loan programs that are still available to help first time homebuyers purchase a home. There are four loan programs available for consumers that require as little as $100 down.

The House Key State Bond Zero Down Program - The Washington State Finance Commission offers a Washington Down Payment Assistance program for first time homebuyers. It is important to note that this program is simply an FHA 3.5% down loan in which House Key finances the down payment. The 2 main qualifying factors are: (1) you must be a first time homebuyer (and that means not owning a home in the past 3 years); and (2) there are income restrictions per county. Typically, it is real close to the USDA income eligibility guidelines with a cap around $97,000 household income. I would refer to the blog I wrote on the Snohomish County House Key State Bond Program.

The USDA-Rural Home Loan - or often referred to as the "farm loan". This is by far the most popular loan program I offer my first time homebuyers. It requires that the homebuyer meet two main criteria - (1) must not exceed an annual household income of $97,000; and (2) the home being purchased must be in a USDA Eligible Region. In North Snohomish County, that is referred to as East of Highway 9 and all areas north of 140th in Marysville. See the link above for the Eligibility Map. The USDA loan is a 30-yr fixed rate mortgage that requires ZERO Down and no monthly PMI making it one of the most least expensive loan programs available.

The VA Home Loan - this loan program requires that the borrower has served in the US military and has VA Eligibility. I recommend visiting a page that I created that breaks down the Seattle area VA home loan guidelines. This program too is a ZERO Down loan program that does not require monthly PMI. Furthermore, I am able to loan up to $481,000 with the Seattle VA Jumbo loan program.

HUD Owned $100 Down Program - this program is another great loan program where the borrower can purchase a home using FHA financing without having to put 3.5% down. The only caveat with this loan program is that the home must be a HUD or owned foreclosure. Search Marysville HUD Homes and make sure that your Real Estate Agent is an approved HUD agent. If you have questions on HUD financing, I'd be happy to answer those questions for you.

***BONUS*** Ok, so this isn't a ZERO DOWN loan program, but it's close, and it's HOT. The Marysville FANNIE MAE Homepath Program is a program similar to the HUD $100 down program. This program allows the borrower to purchase a FANNIE MAE bank owned home (or REO) for 3% down, no appraisal and no PMI. The borrower is allowed to get gift funds for the down payment then making it a Zero Down Loan Program.

I have attached links to each one of these programs to provide you with a bit more information that supported in this blog. As always, please feel free to contact me directly if you have any questions and I will be happy to explain or meet with you to discuss qualifying for one of these programs. Typically, each of these programs take anywhere from 2 weeks to 4 weeks to fund, so contrary to what you may read or hear, they are pretty simple turn-key loan programs for today's first time homebuyer.

Dan Keller - Marysville FHA Mortgage Banker
http://www.blogger.com/dan.mortgageadvisor@gmail.com
http://www.mymortgageguydan.com/
(425) 350-7136

Seattle FHA Jumbo Loan Limits | Seattle FHA Mortgage Lender Explains FHA Financing

2010-10-01T23:37:00.000-07:00

Washington FHA Loans are available up to $567,500 with just 3.5% down payment in high cost counties. The FHA 2010 Loan Limit for Washington is up to $567,500. Seattle FHA Mortgages that exceed $417K up to $567,500 are referred to as FHA Jumbo or FHA High Balance loans. FHA Loan Limit Worksheet

Seattle FHA JUMBO Mortgage Guidelines
• FHA Home Loans require a 3.5% down payment
• The Washington FHA Loan Limit of $567,500 does not have to include the UFMIP
(FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)
• FHA Loans allow non-occupying co-borrowers such as parents and siblings.
• The Seller can pay up to 3% of your closing and settlement costs
• The minimum score for most FHA Home Loans is 620 (even on FHA High balance or FHA Jumbo).
• You may receive a gift of funds for your down payment and closing costs
• FHA Condominium requirements include at least a 51% owner-occupancy ratio, no outstanding lawsuits against the Homeowners Association (condo guidelines have changed, so you may want to call me for details)
• I also offer FHA 203K Rehab and FHA 203K Streamline Rehab loans to purchase a distressed home that needs repairs

Below I've Outlined the Difference Between FHA and Fannie Mae Conventional Financing:

FHA
Loan Amount: $500,000
Down Payment: $17,500
Min. Credit Score: 620
Credit Score Used For Example: 700
Interest Rate: 4.625%
Monthly PMI: $362
Total Mortgage Payment: $3,335

FANNIE – Conventional
Loan Amount: $500,000
Down Payment: $50,000
Min. Credit Score: 700
Credit Score Used For Example: 700
Interest Rate: 4.875%
Monthly PMI: $431
Total Mortgage Payment: $3,280

As you can see with the breakdown above, the FHA scenario is much more “flexible” in regards to a lower down payment, lower credit score requirement, and lower interest rate. Please note that with a higher credit score, the Fannie Mae Conventional option may be a better fit as there are split-PMI options that make the conventional option less expensive. I recommend talking to me about scheduling a Mortgage Analysis to compare all options available per you specific credit application.

I can be reached at
Dan Keller, FHA Mortgage Banker
dan.mortgageadvisor@gmail.com
(425) 350-7136

Top 3 Ways To Buy Real Estate For Sale In Duvall, WA| Zero Down USDA, VA, & Homepath

2010-09-25T14:39:00.000-07:00

Every two weeks I teach a first time homebuyer education class that is full of potential homebuyers and Realtors that are unaware of some of the most inexpensive, safe, and savvy loan programs that this fruitful market has to offer. As a mortgage advisor, I feel that it is my job to make sure that my homebuyers are clearly educated of both the homebuying process as well as the role duties of becomming homeowers. The three loan programs that I am discussing have some of the lowest default rates among today's home loan programs and provide savings in the "thousands" as compared to FHA and conventional financing.

I've put together a one-and-one-half minute video explaining the 3 loans programs, why I am a fan of them, and why I think that Duvall, Washington is a great place to call HOME. Below the video are links to all three of these great loan program for you to gather more information, and of course, please fee free to contact me directly with any questions!

The USDA Zero Down Loan Program for Duvall Real Estate

The VA Zero Down Loan Program For Duvall Residents

The Fannie Mae Homepath Mortgage Program for Duvall Real Estate

If you are considering buying a home, it is important that you are working with a professional Realtor that is well versed in each one these programs. If you live in Duval or are thinking about moving to Duvall, I feel very comfortable referring Duvall Real Estate Agents John and Sarah Payson with the Payson Group. They clearly understand the USDA, VA, and Homepath programs and do a brilliant job with their clients.

If you would like to talk with me so that I can explain either of these loan programs in further detail, I can be reached at:

Dan Keller - Seattle Mortgage Banker
dan.mortgageadvisor@gmail.com
(425) 350-7136 (available via text too)
http://www.mylenderdankeller.com/

Buy A Home In Duvall, WA With Zero Down| Duvall Homebuyers Eligible For USDA Home Loan

2010-09-25T07:49:00.000-07:00

Did you know that Duvall, Washington is one of the fastest growing communities in the State of Washington? I sure didn't... As a Seattle area entrepreneur, I do know that Duvall is one of my favorite "rural" towns in the puget sound that still echos that hometown feeling of history and tradition. I grew up going to summer camp in the Carnation-Duvall area, and today, it's an honor and pleasure as a Bellevue FHA Mortgage Banker to assist families in purchasing homes in this fantastic community.

One of the little known benefits of buying real estate in Duvall, Wa is the fact that due to the "rural" location of Duvall, homes in the Duvall area qualify for the King County USDA-Rural Development Zero Down Home Loan Program. That means that under the guidelines of this state-backed mortgage program, the borrower is not required to make a down payment nor are they required to have a monthly private mortgage insurance premium. However, the caveat is, the borrower must qualify under two main criteria:

(1) The borrower must not exceed the annual household income requirements (ex. a family of 1-4 must not exceed a household income greater than $97,000 annually.) You may want to refer to the USDA household income worksheet, but I recommend a 3-4 minute phone call me (see below) instead, as this process/worksheet can be ambiguous... USDA income qualifying guidelines

(2) Second, the borrower must purchase a home in a USDA-RD approved region. I have saved you the time verifying that as Duvall, Wa is a USDA-RD approved region. To see if homes outside of Duvall are USDA-RD eligible, type in the property address on the USDA region specific guidelines worksheet as you will get instant feedback.

DUVALL USDA PROPERTY ELIGIBILITY LINK

Here are some additional benefits of the USDA-Rural Development Loan Program:
- No Down Payment Required
- No Monthly Private Mortgage Insurance
- 620 Minimum Credit Score Required (If your credit is below that, see Dan Keller to fix that)
- Flexible Debt-to-Income Requirements
- No Pre-Payment Penalties
- No "Strings Attached" or "Fine Print" Terms

As with anything you do when it comes to making a financial decision, I recommend that you are working with a Professional. From my experience, I highly recommend The Payson Group as Duvall USDA Real Estate Experts. John and Sarah Payson are veteran Realtors, they understand the King County USDA Loan Program, and most importantly, do a brilliant job serving their clients on the eastside.

If you have any questions on Duvall Real Estate, contact:
The Payson Group
http://www.thepaysongroup.com/
sarah@thepaysongroup.com
(425) 281-5736

For more information on qualifying for a USDA Mortgage or talking about a Free Credit Analysis, contact:
Dan Keller, USDA/FHA Mortgage Banker
http://www.mylenderdankeller.com/
dan.mortgageadvisor@gmail.com
(425) 350-7136

Fannie Mae Homepath Mortgage Lender Seattle, WA | Saves First Time Homebuyers Thousands

2010-09-23T23:06:00.001-07:00

I am shocked how so few people know about this program. The FANNIE MAE Home Path Program is the least expensive mortgage program for Seattle area first time homebuyers that is available and since FANNIE MAE owns the home, they do not require an appraisal, another HUGE benefit.

Exclusive Seattle Fannie Mae Mortgage Lender Dan Keller is able to underwrite and fund FANNIE MAE mortgage loans in-house creating a smooth, quick loan process. I believe this program will help stabilize communities impacted by recent foreclosures by creating another option for homebuyers to achieve homeownership. The HomePath® Mortgage program is now available to my agents and buyers, and can provide up to 97% financing for qualified borrowers wanting to purchase an eligible Fannie Mae-owned property. Even investors and multiple home owners can use this program (investors only need to put down 10%, instead of 20%, plus there is no PMI...)!

ATTENTION REALTORS: From September 23, 2010 to December 31, 2010, the Fannie Mae Homepath Program is offering an additional $1,500 commission on top of your stated commission. Click Here to READ THE MEMO From Fannie Mae Homepath

Seattle HomePath Mortgage Program:
- Low down payment - up to 97% financing for primary residence and up to 90% for investment property
- No MI required; however specific MI adjusters apply
- Fixed rates, ARMs and Interest-Only payment feature available
- May be available to buyers with less-than-perfect credit
- Eligibility for high balance conventional loans
- Eligible properties include primary residences, second homes and investment properties
- Minimum credit score requirements are as follows:

- 660 required for Loan To Valaue > 80%
- 620 required for LTV <= 80%
-Down payment can be funded by a borrower’s own savings; a gift; a grant; or a
loan from a nonprofit organization, state or local government, or employer (very similar to FHA guidelines, but without the additional FHA MI costs...).
· Purchase transactions only
· No appraisal required

Ask me to compare the FANNIE MAE Home Path Program to a Seattle Area FHA home loan. And even if a HomePath loan isn’t right for you, our other products or programs may fit your needs. Let me know if you would like a side-by-side comparison. I'd be happy present that to you!

You can go to http://www.homepath.com to search for directly for eligible Fannie Mae properties, or contact me directly and I can help!

Dan Keller
dan.mortgageadvisor@gmail.com
(425) 350-7136

Zero Down Mortgage For First Time Homebuyers & Down Payment Assistance Mill Creek Real Estate

2010-09-18T08:54:00.000-07:00

Are you a Seattle area First Time Homebuyer? If you are, what are the top three questions you have about buying a home right now? Actually, let me guess: (1) Is my credit score good enough to qualify to purchase? (2) How much money do we need to put down in order to qualify for a mortgage and are there any Zero Down Mortgage Programs available in the Seattle area? (3) What do I qualify for, I heard I only need to make $40,000 to buy a $200,000 home?

All of these questions are very good questions and will be answered below. Cutting to the chase, if you have a consistent 2-year employment history, meaning, if you've worked in the same line of work and can document your income via tax returns, W-2's and college transcripts (if you spent time in college, that counts as viable work experience) then you most likely qualify for a home mortgage. The reason why I am not too concerned with your minimum credit score to qualify for a FHA, VA, or USDA mortgage is because I can build or fix credit in a short time... So, here are the answers to those BIG questions:

(1) Is my credit good enough to purchase a home with zero down?
You need a minimum credit score of 620 (possibly 580 on certain programs). Regardless of how low your score is, I have a special credit repair program for Seattle area home buyers, so don't let a past mistake detour you from making a great financial investment today...

(2) Can I buy a home in Everett, WA with Zero Down?
Yes, you can use the Everett USDA Rural Development Home Loan Program if you are buying a home east of highway 9 or north of 140th in Marysville. You can also use the Everett VA home loan. You must have served or are currently serving in the military and provide a VA Certificate of Eligibility and DD214. Lastly, you can use the Washington State House Key State Bond Loan Program that offers the only true zero down option for first time homebuyers. This program requires you to attend a 5-hour homebuyer education course in Everett, WA with Dan Keller, House Key Approved Mortgage Lender. In return, you get a state bond down payment assistance certificate for up to $10,000 to use toward your down payment, closing costs or buy down points.

(3) How much do I qualify for?
With this question, I typically refer you to call me, and within 5 minutes, I can Pre-Qualify you for a mortgage and give you an exact estimate that you qualify for with corresponding total monthly payment figures. For now, you should check out this blog that Katherine Cannon, Mukilteo Real Estate Agent who publishes a blog every week for homebuyers called Deals for Reals where she showcases the top 5 deals in Snohomish County (typically under $200,000)with down payment, total monthly payment, and annual income needed to qualify for those respected homes...

Below are two additional questions that surface daily...

(4) What are closing costs, and can we get the seller to pay our closing costs for us?
Closing costs are the sum of all cost associated with the mortgage process - bank and loan fees, title and escrow fees, and pre-paid and reserve fees required by the bank if you putting down less than 20% to cover property taxes and home owner's insurance so that in the event the borrowers ever default, the mortgage lender's security interest in the home is protected. Closing cost are typically estimated at 3% of the loan amount, and YES, nearly 100% of the time with my first time homebuyers we get the seller (or in the event the home we are buying is a foreclosure or short sale) bank to pay the borrower's closing costs.

(5) Can I get a great deal and buy a foreclosure short sale?
Yes. About 80% of the mortgage loans I write today are on foreclosures homes and short sales. You don't need to go to the court house and pay all cash for the home, nor do you need a special lawyer to buy these homes. Your full-time local Realtor that specializes in working with homebuyers should be able to advise you accordingly.

If you would like to discuss the Pre-Approval process for one of these great loan programs, I can be reached directly at dan.mortgageadvisor@gmail.com or at (425) 350-7136

Bellevue Real Estate For Sale Under $300,000 - First Time Homebuyer Tour With The Payson Group

2010-09-17T18:45:00.001-07:00

Why Bellevue? What about Redmond or Renton? Last month at a conference in Bellevue at the Meydenbaurer Center, I had the great pleasure to meet John and Sarah Payson, two forward-thinking, tech-savvy Realtors that are contagiously-passionate about Bellevue Real Estate. After spending two days with them and getting introduced to their website and Living the Bellevue Life blog, not only was I convinced that my family and I are moving to Bellevue, but it was clear that they were experts in the Bellevue Real Estate market as well as the community they live.

As a Bellevue area mortgage banker, I respect the fact that the Payson's have "undressed" a long-time myth in the Puget Sound community that, "You cannot purchase a home in Belleuve under $300,000." Well, by clicking on the image/link above, you will see that you can buy a home in Bellevue for under $300,000. More importantly, there are down payment assitance programs available in Bellevue to purchase many of these homes for Zero Down (a first time homebuyer only program).

If you would like to learn anything about Living the Bellevue Life, you can contact the Payson Group (John or Sarah) at john@thepaysongroup.com or directly at (425) 281-5736. Their website is www.thepaysongroup.com

For more information on the Bellevue Zero Down Mortgage Program that I mentioned, I can be reached at dan.mortgageadvisor@gmail.com or you may visit my Bellevue Down Payment Assistance Blog to gather more information on this great mortgage program.

I encourage you to Experience the Bellevue Life with the Payson Group. I have, and it was GREAT!

Mukilteo Real Estate - One Club House Lane Real Estate Tour With Agent Katherine Cannon

2010-09-15T22:47:00.000-07:00

Over the past year, a real estate agent in Mukilteo has kind of caught my eye with some of the out-side-of-the-box marketing and blogging she is doing for her sellers and clients in Mukilteo. After digging a little deeper and researching the Mukilteo Real Estate market, I began to realize that not only is Katherine Cannon a brilliant realtor that sells homes in Mukilteo, she specializes specifically in marketing and selling One Club House Lane Real Estate. (Perhaps the fact that she lives in Mukilteo may contribte a bit to her passion for Mukilteo real estate, I'll leave that up to you to decide.)

It is rare to see an agent that not only specializes in a particular market niche, but has the content and community involvement that supports her title. Most agents say they are "Mukilteo area experts" or "Your Snohomish County Realtor". It's nice to see a real estate specialist dial-in on a small community vs an entire city or county. Because of this, Katherine has shown that she is an expert, in my opinion, in one of the finest communities in the Puget Sound and most definitely the most sought after community in Mukilteo.

It was a pleasure finally meeting up with one of Mukilteo's finest and if you are wondering, I am now fully aware of Katherine Cannon's reputation in the Mukilteo real estate community and I can tell you that she does a brilliant job serving her clients! If you would like more information on Katherine Cannon or Mukilteo Real Estate, she can be reached below.

Katherine Cannon
Realtor - Windermere Mukilteo
Phone: (425) 348-5960
Email: kcannon@windermere.com
www.highheeledhomeowners.com

Mill Creek FHA & VA Streamline Refinance Opportunity

2010-09-01T23:20:00.001-07:00

With today's interest rates in the low 4's, many homeowners that have FHA and VA mortgages are able to take advantage of lowering their payment and interest rate saving them thousands of dollars over time. But, as I advise all of my home owners, you must evaluate the total cost of the refinance and actual savings to make sure that the "cost-to-benefit ratio makes sense. Well, with today's interest rates as low as they are, many of my home owners are opting for a slightly higher than "cost" rate to allow for the bank to pay all of their closing costs. This presents a unique opportunity for the homeowner to have "No Out-of-Pocket" costs in the refinance of their home loan. For example, as recently as today (Sept. 1, 2010) I was able to lock in a couple of handfuls of clients at 4.375% on a 30-yr fixed rate and the bank was able to cover my loan fee of $595 and all 3rd party closing costs, saving my clients, on average of $185/month (based on a $300,000 loan amount). A HUGE additional plus, NO APPRAISAL REQUIRED!!!

Take a couple of minutes to watch the 2 minute video that I put together that explains the qualifying criteria as well as the simple streamline process:

At Hometown Lending here in Silver Lake, we are a HUD endorsed lender with in-house underwriting. I am happy to provide you a FREE mortgage check-up and rate quote. Let me show you how at no cost, expense, or inconvenience to you, I can help you take advantage of a unique opportunity and save you thousands of dollars on your mortgage... In order to qualify, you must meet the following criteria:

-Have a FHA or VA mortgage
-Have a credit score of at least 620
-Have made at least 6 payments on your mortgage
-Must document income and employment
-Must be able to document assets for next mortgage payment

If you meet this criteria and would like to contact me to discuss locking in a low rate saving you money every month, I can be reached at (425) 350-7136 or via email at dan.mortgageadvisor@gmail.com

Here is a list of items that I will need to process your FHA or VA Streamlines Refinance.
FHA/VA Streamline Checklist

Here is the secure online mortgage application link that I will ask you to complete.
Dan Keller Secure Online Mortgage Application

I look forward to talking with you soon:)
Dan

Seattle Area FHA Mortgage Streamline Refinance- No Cost, 4.375% 30-yr Fixed Rate

2010-08-24T13:21:00.000-07:00

One of the GREAT perks of having a FHA or VA mortgage is that HUD allows for a streamline refinance if and when interest rates fall. I didn't expect rates to necessarily drop after funding mortgage loans over the past 2 years, but they have, and a unique opportunity has presented itself to you as a FHA or VA homeowner.

I am writing about this amazing opporunity for two reasons: (1) we are making history right now with these artificially low rates; and (2) i am seeing some of my clients save in upwards of $300/mo. by lowering their rate at no additional cost to them... The savings can be re-invested in your mortgage or put aside for a college fund, retirement.... you get the picture!

Here's How Easy It Is and Who Qualifies:
1. No appraisal is needed, so value doesn't matter in HUD's eyes.
2. No credit check is required (your credit will be pulled and your FHA/VA mortgage history will be evaluated only)
3. No debt to ratio limitations.
4. No additional COST to you the borrower.

Here's The Benefits:
I recommend that if you can save approximately .75% - 1% in rate, then it is a good idea to streamline refinance your mortgage. On average, by reducing your rate by 1%, you will save approx. $183/mo. and $2,200 per year (that is based on a $300,000 loan amount). More so, you will save even more over time... I will be able to show you more of the benefits and savings with a Pre-Mortgage Analysis and loan comparison worksheet.

Click Here ---> Download my Quick and Easy FHA/VA Streamline checklist.

After you download the checklist, visit my website and complete the 2-minute online FHA Streamline Mortgage Application (click on the secure online mortgage application in the middle of the page).

As always, please do not hesitate to contact me directly at (425) 350-7136 or via email at dan.mortgageadvisor@gmail.com if you may have any questions!

DON'T MISS OUT ON A GREAT OPPORTUNITY TO SAVE SOME MONEY

All the Best,
Dan

Lake Goodwin Real Estate For Sale Blog: Todd Duitsman Lake Goodwin Realtor

2010-08-14T09:18:00.000-07:00

He's the "Green Sign Guy". Chances are, you've seen one of Todd's green signs around Snohomish County.... The are starting to reproduce like little Gremlins and that is a good thing for Todd Duitsman Lake Goodwin Real Estate Agent.

Over the past few months, I've had a chance to work on a few transactions with Lake Goodwin Real Estate Expert Todd Duitsman, and I can tell you first-hand that he is outside-of-the-box and more so, first-class. Some of the things he's done to keep transactions together or simply get them eligible to fund amazes me, that an agent would go that above and beyond to serve.

Prior to 2009, Todd was a custom home builder. He has been a builder/developer all of his working life. Unfortunately in 2008 when funding from the local banks dried up, Todd had to make a career decision. In my opinion, he couldn't have been more accurate in choosing Real Estate sales and marketing as his new career. You see, Todd understands the "nuts and bolts" of real estate, he's built, inspected, and repaired real estate for years. Combined with his "gazelle like intensity" to learn the marketing side of this business, he is winning, absolutely Crushing It in today's market. In July 2010, he was recognized in his office at Keller Williams Marysville (out of over 70 agents) as one of their Top 3 Agents. Here is an example of how Todd is using some of today's technology to market his listings - Todd Duitsman Marketing Book

Here is a listings of a Home For Sale Lake Goodwin Community that Todd is featuring right now. As you will see, Todd sells real estate all over Snohomish County. However, over the last 20 years, he has lived and built all over the Seven Lakes/Lake Goodwin communities and is respected an a Real Estate expert in this community. For more information on Lake Goodwin Real Estate you can visist his Lake Goodwin Real Estate Blog.

I encourage you to check out his blog and contact Todd Duitsman if you have any questions!

Todd Duitsman

todd.tbi@gmail.com

(425) 343-5040

Washington State House Key Homebuyer Education Class June 18, 2011

2010-08-04T19:12:00.000-07:00

Set your calendars for Saturday, June 18th. Dan Keller, Seattle Area Mortgage Advisor is hosting a Homebuyer Education Class sponsored by the Washington State House Key State Bond Program.

Each student will leave the course as a certified House Key Homebuyer, and will be eligble to use the Washington State House Key State Bond Program to assist with their down payment and/or closing costs. More so, House Key has a few new programs that homebuyers can look into. For example, the A New Home For You Program is a fixed rate, 30-year loan program specific for purchasing Marysville new construction. A great loan program and option as we continue to see new homes being built in the Everett area.

Each student that attends Dan Keller's House Key State Bond Homebuyer Education Seminar will get a FREE Pre-Mortgage Credit Analysis as well as a complimentary lunch.

For more information on registering for a FREE House Key Course with Dan Keller, please e-mail Dan at dan.mortgageadvisor@gmail.com

REGISTER NOW - June 18th 2011

email Dan at: dan.mortgageadvisor@gmail.com

Mill Lane Townhome For Sale, Mill Creek, WA - 2 Bedroom Rambler Style Townhome

2010-07-30T18:50:00.001-07:00

This is an amazing opportunity to own a unique rambler-style townhome in the cozy, peaceful Mill Creek golf course community of Mill Lane. Dan Keller, Mill Creek Mortgage Advisor and Lori Brandel, veteran Mill Creek Realtor proudly showcase this beautiful home. You will not find another home on the market like this Mill Lane Townhome For Sale in Mill Creek, WA.

Please note: This home is NOT a short-sale. This beautiful home and community is detailed on the LIVE slide show link below. This condominium project is FHA approved and you may qualify to purchase this home using the Zero Down House Key State Bond first time home buyer program. Contact House Key Approved Lender Dan Keller for more information. This community is worth the vistit exploring. You will not be dissapointed! Great neighbors, great community, great schools, and convenient to I-5 and all ammenties.

The House Key State Bond Program Offers A Zero Down Alternative For First Time Home Buyers

2010-07-30T14:59:00.000-07:00

Dan Keller, Everett FHA Mortgage Banker is now approved to fund House Key State Bond Mortgages. We've all heard of FHA financing, it's pretty much the hottest loan program banks are selling today. However, sometimes the 3.5% down payment that is required with FHA is a qualifying issue for our clients. Well, I think, as a matter of fact, I know I have the solution to that problem. It is the Washington State House Key State Bond Program

The State Bond Program requires home buyers (first time home buyers) to attend a House Key Sponsored Home Buyer Education Course with a Washington State Approved House Key Mortgage Lender. The course requirements can be found on my blog that I just created for potential buyers and their agents. Click here for a link to my blog/site for Realtors and buyers that could benefit from FHA down payment assistance

I think I am just as excited to start using this program to help agents market their listings too. Contact me at dan.mortgageadvisor@gmail.com if you have any questions or would like more information on marketing your listings with the House Key State Bond Program

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

Should I Buy A Home Or Continue To Rent? A Fresh Look On This Topic

2010-07-07T23:53:00.000-07:00

Whether renting is better than buying depends on many factors, particularly how fast prices and rents rise, how long you plan to stay in your home, and most importantly, evaluating the cost of renting vs. buying in “your” particular community.

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 GET FULL SIZE VERSION

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

(425) 350-7136

dan.mortgageadvisor@gmail.com

Follow Dan on Facebook - 3 Things They Forgot To Teach Us In High School - Money, Mortgage, and Investing

Problem & Solution Series: FHA Property Qualifying Guidelines Checklist

2010-07-05T12:15:00.000-07:00

The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.

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 dan.mortgageadvisor@gmail.com

Follow Dan's FHA Page on Facebook - www.facebook.com/fhamortgagevalet

FHA Property Qualification Checklist

Leaping Into Homeownership: How One Couple Just Navigated The Journey Toward Their 1st Home

2010-05-31T00:28:00.000-07:00

It’s a big year for Ashley Weller and Anthony Laubenthal. Like millions of other Americans, the 24-year-olds just bought their first home.

The high school sweethearts were engaged last July and hadn’t given much thought to buying. Then Weller’s dad mentioned the $8,000 tax credit available that was available for first-time homebuyers who closed the deal by the end of last month.

“We thought we could have more space, invest some sweat equity; not just pay somebody else and not get anything out of it,” she said.

The Des Moines couple understood little about the home-buying process. Over the next couple of months, they learned about mortgages and not to jump too fast to buy the first house they liked.

A combination of government incentives and near record-low mortgage rates prompted legions of first-time homebuyers to take the plunge. Buying a home can be exciting, yet daunting because it’s a complicated process with potential pitfalls at every step. But, it doesn’t have to cause anxiety if you plan and find the right professional help.

Here’s look at the major steps in the journey toward home ownership.

Set a budget
Weller and Laubenthal were paying $800 a month in rent. They concluded that for a little more, they could buy a home, build equity and gain tax advantages.

When weighing affordability, it’s critical to factor in the tax advantages that homeownership provides. Namely real estate taxes, mortgage interest expenses and at least some mortgage insurance costs are deductible.

The IRS outlines home tax deductions at: www.tinyurl.com/y5x8gp8

Although tax deductions are a plus, ultimately you have to make sure you can still make your monthly payment and have money left over to live on. It’s helpful to use calculators like those available at the Federal Housing Authority website: www.tinyurl.com/2e9yz6

One rule of thumb: Your house payment including taxes, homeowner’s insurance and mortgage insurance shouldn’t exceed one-third of your gross income. So if your gross pay per month is $4,000, your house payment shouldn’t exceed $1,300.

Weller and Laubenthal figured they could afford a house between $130,000 and $150,000. That’s in line with the median price tag of $149,300 for a home in the Des Moines market. In the end their house payment was about $1,100 a month.

Qualify for a loan
Know what’s in your credit report before you meet with a banker. You are entitled to a free copy of your report each year from the major credit reporting agencies, Equifax, Experian and TransUnion. Copies can be obtained by visiting www.annualcreditreport.com.

You’ll have to pay an extra fee of about $8-$10 to obtain a credit score. Most commonly used by banks are FICO scores, which range between 300 and 850. Most people score in the 600s and 700s.

A FICO credit score above 700 generally will get you a more favorable interest rate. A score below 600 could mean you’ll pay 2 or 3 percent more, which over the life of a mortgage could cost thousands of dollars a year more.

Dan Keller has a website outlining how to build better credit at www.fixmycreditdan.com

You should review your reports months in advance to correct any errors and try to boost the score. If you are working with Dan Keller and his team, all of this information will be covered in the Pre-Mortagage Analysis and Credit Consultation.

The couple hoped they could be approved for at least their target price range. They were pleasantly surprised to find their credit allowed them to be prequalified. Prequalification outlines how much the bank estimates it can lend you. With this in hand, the couple started looking.

Shop for a home
Hire a real estate agent to set up visits, provide listings and who knows about homes that might soon be for sale. The agent also will draw up an offer and help negotiate a deal with the sellers. Be aware that not all real estate agents are Realtors, which means they are a member of the National Association of Realtors and are held to a code of ethics.

Seek recommendations and choose an agent you trust and who communicates well with you. The agent is paid a commission out of the closing costs. The current national average commission is about 5 percent, but it can vary significantly from market to market and it is negotiable.

The same day their loan preapproval came through the couple contacted Jerry Aldrich, a real estate agent recommended by Weller’s dad.

It’s wise to narrow your search by checking the Internet or driving through neighborhoods of interest. Look at more than just the homes. You’ll want to research quality of life matters, such as shopping, schools, nightlife and crime.

Weller and Laubenthal zeroed in on three small communities. They wanted their home to have at least three bedrooms, a two-car garage and a yard. Aldrich began sending them e-mail listings.

They liked the first house they toured. “I knew it fit their criteria, but I wouldn’t let them buy the first home they looked at without looking at a half dozen,” Aldrich said.

When looking for a home it’s important to ask lots of questions and try to look beyond the decor. Focus on the permanent features of the home and look beyond things you can easily change such as window treatments, carpeting and paint colors.

Over the next month, Weller and Laubenthal looked at 10 homes. Then one e-mail grabbed their attention.

It was a 4 bedroom, 2 bath home with a fenced backyard and 2½-car garage on a street with mature trees in a quiet neighborhood. It was listed for $151,900.

Aldrich arranged a visit. And they soon were convinced they’d found their home.

Strike a deal
Weller and Laubenthal made an offer at 6 p.m. They were both at work, but talked with Aldrich who submitted the paperwork that night. Within 90 minutes he had a counter offer. The couple countered again.

“Within two hours we had a house that night,” Laubenthal said. “It was crazy.”

It was easy in this case. But negotiating can often be stressful. Your agent will help you make an offer based on the home’s value and one that’s realistic for the market. The offer should be contingent on approval of your financing and a home inspection.

Once you’ve found you’re dream home, it’s time to figure out how you’ll pay for it. If you’ve been prequalified for a loan, some of the initial gathering of your financial background has been done. However, it’s time now to finalize the loan.

Weller and Laubenthal were surprised by the amount of information needed by the loan officer. Lenders are exercising extra caution due to the continuing high foreclosure rate.

Be prepared to provide pay stubs, past tax returns, checking and savings account bank statements for several months, 401(k) and IRA statements, and your drivers license.

It’s also wise to know the types of mortgages available. A fixed-rate mortgage is frequently chosen by buyers who know they’ll stay in the home for many years. It’s typically set for long terms such as 30 years, and your payments remain stable.

The average interest rate on a 30-year fixed-rate mortgage is 5.125 percent, according to Bankrate.com. That’s higher than a few months ago, but a decade ago, buyers were paying more than 8 percent. In October 1981 rates peaked at 18.5 percent.

An adjustable rate mortgage, one in which the monthly payment increases according to a preset schedule, is often selected by buyers who don’t plan to stay in their home past five years.

Inspect the home
An inspector will check the roof, walls and foundation, the heating, air conditioning and electrical systems.

You’ll receive a list of potential repairs and must decide which should be paid for by the seller. Major repairs could lead to renegotiating the price of the home. A serious problem will permit you to back out of the deal. That’s why it’s essential to make an offer contingent upon the inspection.

Before you close the deal, you’ll have a final walk-through of the home. This is an opportunity to make sure inspection issues were fixed.

Weller and Laubenthal were excited as they arrived at their home for the final inspection.

The couple reviewed a few issues mentioned in the inspection report — concerns about the circuit breakers and the refrigerator’s ice maker. Aldrich said he’d make sure a certified electrician made the required electrical repair and it was documented.

They went from room to room, checking out doors and windows. The couple looked over the kitchen appliances, looked through a garden shed in the backyard and checked the garage door opener to make sure it worked.

Ultimately they were happy and looked forward to their closing, set for the following week.

Close the deal
Be prepared to sign a slew of paperwork to close the transaction. Also, find out from your mortgage banker how much the closing costs will be so you’re not surprised. The costs include loan processing fees, the appraisal of the home, attorney fees and inspections. It’s common for buyers to negotiate closing costs as part of their offer, which means they ask the sellers to pay some or all of the costs.

On a typical mortgage, the bank will charge around 1 percent of the purchase price to do the loan. In addition to that, most borrowers will pay between $2,000 to $3,500 in costs. On a $200,000 home, generally expect origination and closing fees of $4,000 to $5,500.

This is the final step, though, once completed you’ll get the keys and the satisfaction of knowing you’re a homeowner.

For Weller and Laubenthal, the process was smooth. The sellers wanted to move closing up several weeks, so there was a rush to get the inspections, paperwork and moving arrangement done. There may be hiccups along the way, but your real estate agent, mortgage banker and title agents should all be able to help steer around potential problems.

All told, the homebuying process took two months for Weller and Laubenthal. Now they’re enjoying their home and have set their sights on the next big step — a June 26 wedding.

Steps toward home ownership -
The main tasks one couple completed on their way to owning a home:

1. Set a budget. Your house payment including taxes, homeowner’s insurance and mortgage insurance shouldn’t exceed one-third of your gross income. The initial Pre-Mortgage Analysis meeting with Dan Keller will give you the right information for you to make the best decision in determining your budget.

2. Qualify for a loan. It helps to know your credit score before meeting with a Dan Keller and his team. A FICO credit score above 740 generally will get you the most favorable interest rate.

3. Shop for a home. Seek recommendations to find a real estate agent who will help you narrow things down. I work with some of the area’s top Realtors, and would be happy to refer you a great agent.

4. Strike a deal. Negotiate for a price, then make sure you can lock in the financing to pay for it.

5. Inspect the home. Your offer should be contingent on an inspection and financing. Major repairs could lead to renegotiating the price of the home.

6. Close the deal. You’ll find out how much to expect in closing costs. On a $200,000 home, generally expect origination and closing fees of $4,000 to $5,500, and if the mortgage is a FHA or VA mortgage loan, then you will be asked to set-up an escrow account for property taxes and insurance. Typically consisting of 6-9 months property taxes paid in advance as well as 4-6 months of homeowner’s insurance. I usually recommend that closing costs for a VA or FHA (and USDA) loan are approximately 3-3.5% of the loan amount, and in most cases with first time home buyers, we request the seller pay the buyers closing cost to minimize additional funds to the down payment required to close the loan.

information gathered from the Associated Press 05/29/2010

Good Bye Tax Credit, Hello Purchase Power

2010-05-26T23:25:00.000-07:00

So, the end result is that the tax credit did was it was designed to do, or did it? Well, kind of. The tax credit is no longer available, but interest rates have dropped, including on FHA loans which are down nearly half a point since May 1. That means buyers using an FHA loan to buy a $200,000 home will have nearly $9,000 more purchasing power.
The following illustrates this point:

Using this same scenario, buyers purchasing a $400,000 home using an FHA loan have close to $18,000 more purchasing power. In other words, for the same monthly payment, today’s buyer could purchase a home worth $18,000 more than they could have on May 1, 2010.

Make sure you look at this Rent vs Own Blog that CLEARLY and HONESTLY shows that buying a home today is equally or more beneficial than buying with only a $8,000 tax credit incentive.

Who knows how long interest rates will remain this low, but for those looking to buy a home in the near future, this increase in purchase power could be their golden ticket. For specific guidelines and tips for getting even a sweeter deal while either purchasing or selling a home, reference the blog I wrote on Strategic Financing Using A Seller Interest Rate Buy Down.

Lastly, here is a good article that recently ran in the Wall Street Journal about the dip in interest rates and what it means for homebuyers and the U.S. economy: Home Buyers Get Surprise Boost From Europe Crisis as Loans Drop to Below 5%

These are a couple of very important facts and stats to present to your buyers and sellers... for more information, please contact me directly at (425) 350-7136 or dan.mortgageadvisor@gmail.com

Dedicated to Your Success,
Dan

a special thanks to Lennox Scott for providing the insight and information to this blog entry

Fannie Mae Homepath Program Seattle, Wa - Buy A Foreclosure & Pay No PMI or Appraisal

2010-05-26T15:56:00.000-07:00

I've been able to partner with a couple banks and FANNIE MAE to help stabilize communities impacted by recent foreclosures while creating the opportunity for more buyers to achieve homeownership. The HomePath® Mortgage program is now available to my agents and buyers, and can provide up to 97% financing for qualified borrowers wanting to purchase an eligible Fannie Mae-owned property. Even investors and multiple home owners can use this program!

These homes may be a great opportunity for borrowers that have little money for a down-payment, first-time homebuyers, buyers looking for a fixer-upper, investors and more. Now you can help even more borrowers make homeownership a reality.

Key HomePath Mortgage Features:
- Low down payment - up to 97% financing for primary residence and up to 90% for investment property
- No MI required; however specific MI adjusters apply
- Fixed rates, ARMs and Interest-Only payment feature available
- May be available to buyers with less-than-perfect credit
- Eligibility for high balance conventional loans
- Eligible properties include primary residences, second homes and investment properties
- Minimum credit score requirements are as follows:

o 660 required for LTV > 80%
o 620 required for LTV <= 80%
Down payment can be funded by a borrower’s own savings; a gift; a grant; or a
loan from a nonprofit organization, state or local government, or employer (very similar to FHA guidelines, but without the additional FHA MI costs...).
· Purchase transactions only
· No appraisal required

Make your buyers aware that you can now provide a HomePath Mortgage option to compare to FHA. And even if a HomePath loan isn’t right for them, our other products or programs may fit their needs. Let me know if you would like a side-by-side comparison. I'd be happy present that to you!

You can go to http://www.homepath.com/ to search for direclty for eligible Fannie Mae properties, or contact me directly and I can help!

Dan Keller
dan.mortgageadvisor@gmail.com
(425) 350-7136

Save Hundreds of Dollars And Fight Your Real Estate Tax Bill WITHOUT A Lawyer

2010-04-24T00:13:00.000-07:00

Visit msnbc.com for breaking news, world news, and news about the economy

More than 60 percent of U.S. homes are “over-assessed”, says an industry trade group. Homeowners in Washington State pay more in property taxes than they otherwise should have to. You might be one of them. Have you considered fighting your real estate tax bill?
In this 4-minute piece from The Today Show, you’ll learn:
•When to file your tax bill dispute for the best chances of winning
•How to pull your “property card” and check for tax bill-raising errors
•What to do if the taxing authority turns down your request
Most importantly, you’ll learn that don’t need to hire an attorney to fight your tax bill. You just need to be prepared. Do your research and make your case. It’s estimated that nearly half of all contesting homeowners are successful.

As always, please do not hesitate to contact me with any questions - dan.mortgageadvisor@gmail.com

Breaking News! Rep Shelly Capitio Introduces Bill To Resolve USDA Funding Crisis

2010-04-14T09:57:00.000-07:00

I am pleased to share with you that a supplemental bill has been introduced today by Republican Shelly Capito, Mrs. Capito happens to be a ranking member of the Financial Service Committee and Subcommittee on Housing and Community Opportunity. Below is a copy of the announcement.

Capito Introduces Bill to Continue Access to Home Ownership in Rural Communities

This Legislation Would Increase USDA Rural Housing Loan Guarantee Program’s Capital Reserve - Washington-Rep. Shelley Moore Capito, R-W.Va., the Ranking Republican Member of the House Financial Services Subcommittee on Housing and Community Opportunity, yesterday introduced legislation in the House Financial Services Committee to shore up funds for the U.S. Department of Agriculture 502 Rural Housing loan guarantee program. Capito's bill, H.R. 5003, The Rural Housing Improvement Act, would ensure that responsible families in rural communities continue to have access to the credit market to finance their homes.

"I have received hundreds of letters, emails and calls from my constituents, including home buyers and sellers, who are concerned that the 502 loan guarantee program will soon run out of funds," said Capito. "My legislation would continue to assist thousands of responsible, low to moderate income West Virginians who otherwise wouldn't have access to home ownership."

This supplemental bill will resolve the funding crisis and will help us get through the year without any funding interruptions. All concerned USDA GRH originators and other interested parties (real estate agents, builders, settlement agents, appraisers, community leaders, etc.) are encouraged to contact their members of Congress and Senate regarding their support for this bill. Please click here, and take 20 seconds to email our congress rep in WA State!
http://bit.ly/9yIbjb

AGENTS, FOR FREE TOOLS, PLEASE VISIT MY FB PAGE FOR AGENTS & BECOME A FAN!

NW REAL ESTATE AGENT NETWORK

You May Want To Get Your Pre-Approval RE-Approved

2010-04-11T12:21:00.000-07:00

On a weekly basis I am getting 911 calls from Real Estate Agents at the 11th hour of a closing begging me for a miracle... Their client's previous financing (or the other agent's buyer's financing)has failed and they are in need of dire help... With all of the banking guideline changes that we have seen thus far in 2010, this blog post in overdue, and I apologize...

As the Federal Home Buyer Tax Credit approaches its April 30 end-date, there are numerous would-be home buyers throughout our area who are still working to get under contract.

Here is an important piece of advice to pass along: If their pre-qualification and/or pre-approval letter is more than 6 weeks old, it is strongly advised that they have their lender “Re-Approve” their Pre-Approval. Mortgage guidelines have been in flux and their original lender letter may now be invalid due to recent changes in qualification criteria.

For example, over the past half-dozen months, the majority of mortgage lenders have reduced their risk tolerance with respect to:

* Maximum debt-to-income ratios
* Minimum allowable credit scores
* Calculation of “assets in reserve”

For buyers of condominiums and co-ops, it is reported that the complex in its entirety has come under tougher scrutiny.

Mortgage applicants today MUST be in complete compliance and many new factors can now affect the qualification of the buyer. It takes more than just good income and credit to get approved in this market. It is strongly advised Agents inform their buyers revisit their qualifications. What qualified underwriting in January may not be adequate in May.

Being proactive will provide additional advantages: For instance, in the event, a mortgage re-pre-approval does happen to unearth an issue, it can be addressed immediately and resolved, rather than trying to clean up a mess and put fires out, causing potential delays and undo stress...

It is a good idea to advise buyers to have a discussion with their Agent and/or Loan Officer about their pre-qualification/pre-approval letter prior to making the offer on a home. If you are a Realtor and would like more information and FREE access to my daily "Tools You Can Use" tips to help you grow your business, you can follow me on facebook at NW Real Estate Agent Network. Enjoy!

Dan

Is USDA Out of Funds To Loan Home Buyers?

2010-04-04T15:04:00.000-07:00

The answer today (April 4th, 2010) is NO. The Department of USDA-RD still has allocated funds to cover mortgage loans. Now, with that said, as of today, USDA is reporting that they have $2.8 billion dollars left to lend. That sounds like a lot of money, but considering they were allocated $13+ billion in October of 2009, it's not. Based on the current volume of fundings, experts are estimating that USDA will be able to uphold their committment to funding mortgage loans through April 2010. At that time when funds are exhausted, the USDA-RD division will await a re-allocation of funds, which sceptics say will not be filled until October-November 2010. I on the other hand tend to be more optimistic and realistic, and "speculate" USDA-RD will be re-allocated funds by July 2010 ("by" being the key word, I beleive sooner...). I am currently closing USDA purchase loans in 17-20 days. So to date, I am continuing to take USDA mortgage applications. Make sure you visit my USDA Website @ www.snohomishcountyusdaloans.com and feel free to contact me directly at (425) 350-7136 with any questions!

2010-03-22T19:27:00.000-07:00

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2010-02-22T22:50:00.000-08:00

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A Great Story of A Vet's Heroism & Life. Thank you Ed! We Appreciate You!

2010-02-15T11:44:00.000-08:00

You're a 19 year old kid.
You're critically wounded and dying in the jungle in the IaDrang Valley.

November 11, 1965.
LZ X-ray , Vietnam.

Your infantry unit is outnumbered 8-1 and the enemy fire is so intense, from 100 or 200 yards away, that your own Infantry Commander has ordered the MediVac helicopters to stop coming in.

You're lying there, listening to the enemy machine guns and you know you're not getting out. Your family is 1/2 way around the world, 12,000 miles away, and you'll never see them again.

As the world starts to fade in and out, you know this is the day.

Then - over the machine gun noise - you faintly hear that sound of a helicopter. You look up to see an unarmed Huey. But ... it doesn't seem real because no Medi-Vac markings are on it.

Ed Freeman is coming for you.

He's not Medi-Vac so it's not his job, but he's flying his Huey down into the machine gun fire anyway. Even after the Medi-Vacs were ordered not to come... He's coming anyway!

And he drops it in and sits there in the machine gun fire, as they load 2 or 3 of you on board. Then he flies you up and out through the gunfire to the doctors and nurses.

And, he kept coming back!! 13 more times!!

He took about 30 of you and your buddies out who would never have gotten out.

Medal of Honor Recipient, Ed Freeman, died in Feb 2010 at the age of 80, in Boise , Idaho .

May God Rest His Soul.

I bet you didn't hear about this hero's passing, but we sure know a whole bunch about the entire Tiger Woods saga... Shame on the American media!

Rest In Peace Ed Freeman. We honor you, and you will be remembered!

If you are reading this and personally know a Veteran, please forward me their name and phone number, I would love to call them today and say, "Thank You"!

Government To Pay Additional 3.5% On Top Of $8,000 Tax Credit To Borrowers

2010-02-01T11:52:00.000-08:00

More Breaking News In The Housing Market: According to a news release on their site, "people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances (see article http://bit.ly/aRpUw9 )

For those in the market to buy a home, this is a buying incentive op top of the current Federal Homebuyer Tax Credit. The incentive is for owner-occupants who close on the purchase of the property before May 1, 2010.

CONTACT ME DIRECTLY FOR A CITY SPECIFIC LIST OF FANNIE MAE OWNED HOMES – dan.mortgageadvisor@gmail.com

The Fannie Mae HOMEPATH Loan Program guidelines are:
- 3% down
- No PMI
- No appraisal necessary
- 660 min Credit Score (call for more details...)

Think about this for a minute folks: $8k for First Time Home Buyers Tax Credit, 3.5% of purchase price for closing cost and/or new equipment and a rate that’s about 1% lower than norm due to Fed MBS purchasing program. That’s a gift of around $18,500 from our Government just to buy a $300,000 home compared to any other time in our history!

If you have been waiting and wondering when a good time to buy will be, NOW IS IT!!! We only have a few more months until ALL of these programs end and these INCREDIBLE savings will be history.

To find qualifying homes, go to http://www.homepath.com/ or contact me directly.

Seattle Magazine Honors Dan Keller As One of Seattle Area's Top Mortgage Professionals

2010-01-29T18:48:00.000-08:00

My #1 objective when I entered this business full-time in 2007 was to ensure that my clients and their Realtors receive nothing less than an exceptional lending experience working with me and my team. It has taken a few years to iron out some wrinkles, and wrap my hands around this ever-changing business. But in 2009, things began to click, and not only did I have the time of my life funding purchase loans,but in the December 2009 Issue of Seattle Magazine, I was honored as one of the Top Mortgage Professionals in the Seattle Area. Click on the link to see the online version of what was published - Seattle Magazine "Best of 2009" -Seattle Area's Top Mortgage Professionals

It should be noted that without the tools that my broker gave me and the patience and guideance from my loan processor (who by the way is the World's Best not Seattle's Best, the World's Best loan processor), that my learning curve would have been exponentially wider... Thanks Randy and Thank you Naomi!

I look forward to another year of getting to meet many more GREAT people!
Whew-hoooo, Cheers!
Dan

Try To Keep A Dry Eye...

2010-01-24T23:35:00.000-08:00

Ok, call me a wus, but if this doesn't put a tear in your eyes...
Humbly Yours,
Dan

You CAN Short Sale Your Home & Buy Now...

2010-01-19T12:33:00.000-08:00

New HUD Short Sale Ruling: You CAN Short Sale Your Home And Buy Right Away...
There seems to be a lot of confusion out there about HUD's recent mortgagee letter 09-52 http://bit.ly/mortgagee09-52 which provides guidance for FHA borrowers after a short sale. Basically, the mortgagee letter states that a borrower will be eligible for FHA financing immediately after the completion of a short sale provided that the borrower was current on their mortgage at the time that their short sale occurred. Please read further! The mortgagee letter also states that the borrower will not be eligible if the purpose of the short sale was to "take advantage of market conditions and purchase a similar or superior property within a reasonable commuting distance".

So...what does that mean?

Sadly, HUD will not allow us short sale our house because we are underwater and turn right around and purchase a new one in order to improve our equity position. The "reasonable commuting distance" part is the key. The spirit of this mortgagee letter is to allow the homeowner that has been RELOCATED by his/her company to another metro area to purchase a home in the new metro area after the short sale in the old metro area. Also, there is consideration for a change in family size. For example, an increase in family size that would not be manageable in the current home or empty nesters looking to downsize. Relocation to a different metro area is not required when there is a change in family size.

If you have had to short sale a property and you do not meet the guidelines above, plan on three years before you will eligible to purchase a home with FHA financing.

Please also remember that the bank that provides your FHA financing can add their own guidelines on top of the HUD guidelines. Some FHA lenders may not approve your financing after a short sale even if you meet the HUD requirements because the bank may have an overlay that is specific to that particular institution. If you are considering a short sale of your home with the intention of purchasing a new home right away, please do your homework! Get pre-approved for the new financing first and disclose everything to your loan officer. Always work with a lender that you trust or get a referral for a lender from your family or your Realtor.

Sometimes, a short sale is unavoidable. There are certainly a lot of people that have found themselves in that circumstance. Sometimes, the short sale is a financial strategy. If that's the case, please make sure you are making the most educated decision possible. For more information on short sales, loan modifications, or your mortgage, please contact me directly and I am happy to refer you to an expert that I trust and know will give you the information you need to make the most informed decision as it pertains to your mortgage. Contact Dan Keller at: dan.mortgageadvisor@gmail.com or (425) 350-7136.

FEMA Revises Flood Plain Maps For 150 Cities

2010-01-10T23:41:00.000-08:00

The Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP) are updating flood hazard maps across the country. These new flood maps, also, known as Digital Flood Insurance Rate Maps (DFIRMs), show flood risk at a property-by-property level. Changing weather patterns, erosion, and development can affect floodplain boundaries. The NFIP is currently updating and modernizing the nation’s Rate Maps. Your home could be affected by these changes. For more information to see if your home is affected by these changes, click here, FEMA.gov and type in your address. You may also call me for questions.

FYI – If your home falls into this new floodplain and you believe it is reported in error, the only way to contest this ruling in regards to financing or selling your home is to contact the county and request information on attaining a “Certificate of Elevation”. For more informaiton, please contact me directly and I can direct you to the right people to gather more information on the revised ruling, as well as helping you to attain flood insurance quotes. My e-mail address is dan.mortgageadvisor@gmail.com

New & Revised Home Buyer Tax Credit Extended

2009-11-06T07:41:00.000-08:00

The much-anticipated extension & revision to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature which he is expected to sign.

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

The National Association of Realtors (NAR), the National Association of Home Builders (NAHB), the National Association of Mortgage Brokers (NAMB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.

The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."

But, really? You think so? When April 2011 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?

Keep tuned to http://www.mylenderdankeller.blogspot.com/

for more helpful market tips!

Credit Repair Success Story: 80 points In 40 Days!

2009-10-21T13:53:00.000-07:00

One of the best relationships that I have made in my career was in 2009 with a credit repair firm that specializes in Legal and Permanent Credit Repair & Restoration. From time to time I have clients come to me wishing they could purchase a home, if only they had better credit. I finally have the solution... National Credit Care has joined my team and partnered with me to assist my clients in rebuilding their credit. We have the ability to remove bankruptcies, foreclosures, collections, liens, and lates.

I have attached an example for you to see. On August 15, 2009 I had a client want to get pre-approved for a home purchase, but due to certain circumstances in her past, her credit score was below 600, and I was unable to approve her at the time. I referred her to speak with Ryan, a week later she paid the $49 join fee, and the $49/monthly fee and in less than 2 months (and less than $200 later) they are buying a home with her credit exceeding 680!!! (all we really needed was 620). Check out the proof... Even a Chapter 13 bankruptcy was removed! (please note that fees are subject to change) See what we had deleted in less than 40 days - http://www.box.net/shared/2cahxlp4xe

For more information on Credit Repair, you can contact me at (425) 350-7136 or dan.mortgageadvisor@gmail.com

Dan Keller's Home Ownership For Heroes Program

2009-09-22T22:32:00.000-07:00

I have developed this exclusive program so that I may have the opportunity to "Serve Those Who Serve".

Teachers
Law Enforcement
Fire Fighters/EMT's
Military/Veterans
Physicians/Nurses
Boeing Employees

My Home Ownership For Heroes Program is a program that I designed specifically to provide "Everyday Heroes" in our community significant benefits as they buy and own real estate. As a son of a Vietnam Veteran, and as a former teacher/coach, I understand your lifestyle and the very special reasons you have chosen your challenging career. This is my opportunity to give back and Serve You!

It is my commitment to not only give back 25% of my income on your mortgage transaction, but to provide you a Mortgage Concierge Experience that you deserve! For more information on my exclusive program, download my flyer at www.box.net/shared/lgdr5j2ie2

These benefits are significant and are NOT a part of any government program. On average with this program, I provide a lender credit of $500 - $1,500 at closing toward closing costs, pre-paid expenses, and/or buydown points.

You can always go to my website at http://www.mylenderdankeller.com/ for more information on the various loan programs and discounts that I offer in-house to my preferred clients.

New Bill (Howard C. Rep NC) Seeks To Improve & Expand Home Buyer Tax Credit

2009-08-26T22:42:00.000-07:00

Okay, the name for this new bill may not be as catchy as "Cash for Clunkers" but you gotta love it: Home Ownership Moves the Economy(HOME) Act of 2009 - HR 2801.

It would continue the current tax credit for first time homebuyers set to expire on December 1, 2009, with a couple of notable changes:
- Income restrictions would be removed
- Buyers do not need to be first time buyers

Okay, everybody, all together now "SHHHHHHHHHHHHHHHHHH". For those of us who decided not to take a vacation in October and November to handle the "rush" of people trying to beat the deadline, this will squash that idea.

Who will rush to buy if they extend the tax credit anyway?

Well, they will be the same kind of people that have contributed to a record year for me in the mortgage business, but a different breed -
They are potential first time buyers who make way too much money to qualify and get KILLED each year paying income tax. They may be jumping off the fence when they reads this.
And people like them are much more likely to help the economy (they have more disposable income) than first time lower income home buyers...

Stay Tuned...

Dan

How To Buy A Home For $100 Down Using FHA?

2009-08-18T17:16:00.000-07:00

"Opportunity Is Often Missed By Most People Becasue It Shows Up Dressed In Overalls and Looks Like Work." (Thomas Edison) Wow, was he right!
Check This Out - Click On This Property Below

Buying a HUD home may be a little work, but wow, will it pay off, especially today! The first step is to check my blog daily for an updated list of local "Just Listed" HUD Homes. There aren't many, so when they hit the market, they sell quick.
Next,
(1) Go to my website and get pre-approved www.mylenderdankeller.com
(2) Search for local HUD Homes For Sale at http://is.gd/2nux8
(3) Contact me if you need a Realtor, I'd be happy to refer a pro
I welcome your phone calls and e-mails, so please don't hesitate to contact me directly at (425) 350-7136 or dan.mortgageadvisor@gmail.com I hope that you are ENJOYING this amazing summer!

Exclusive Nationwide MLS Search Feature

2009-08-11T00:11:00.000-07:00

FORWARD THIS EXCLUSIVE PROPERTY SEARCH ENGINE TO ALL OF YOUR FRIENDS AND FAMILY...I am now able to provide FREE MLS access to all of my clients. Take a look and enjoy! Let me know if you have any questions.
Dan

Mortgage Disclosure Improvement Act - (Reg. Z Disclosure)

2009-08-04T09:40:00.000-07:00

Another change, but I do believe that change is good... Just know that I am committed to keeping my business partners informed about changes occurring within the mortgage industry. The Housing and Economic Recovery Act of 2008 (HERA) was developed to protect the mortgage consumer when purchasing a home. The Act contains provisions that revise the Truth in Lending Act under rules known as the Mortgage Disclosure Improvement Act (MDIA). These rules apply to all loan applications received on or after July 30, 2009.

This applies to primary and second homes only!

Initial Truth in Lending (TIL) Disclosure
The initial TIL disclosure has been amended to require specific language to notify the consumer that they are not required to complete the loan agreement merely because they have received the disclosure or signed a loan application.

Waiting Periods
For all timing requirements set forth below, “business days” are Monday through Saturday and exclude all legal federal holidays (Bank Holidays).

The revised rules implement waiting periods for the collection of fees and loan closings:
Creditors, mortgage brokers and any other person are prohibited from imposing any fee, other than a reasonable credit report fee, until the consumer has received my bank’s initial disclosures.
The loan cannot close (document signing) until 7 business days after the initial TIL disclosure has been mailed.
The loan cannot close until 3 business days after a re-disclosure TIL is received (if applicable).
If the disclosures are delivered via regular mail, the disclosures are considered received by the borrower three 3 business days after they are mailed.

Annual Percentage Rate Changes (APR)
If the APR increased by more than 0.125% from the previously disclosed APR, a re-disclosure TIL must be provided to the consumer. The loan cannot close (document signing) until 3 business days after the re-disclosure TIL is received by the borrower.

Appraisal Timing
Our banks will not allow conventional appraisals to be ordered through our website until 3 days after we have disclosed. FHA and VA appraisals cannot be ordered by the broker until the 3 day delivery period has expired.

So What Do We Do?
It’s simple – we write longer contracts and tighter loan application. A longer Purchase and Sale contract means 35-40 day closings. Talk to your lender to discuss the file to see what hurdles he/she envisions, and worse case scenario, you close an extra 10 days late. However, it is important that your lender writes an air tight loan application to avoid the re-disclosure delay of 3 days due to a .125% increase in APR

I am happy to answer any questions you may have regarding these new guidelines. So please, do not hesitate to call me directly at (425) 350-7136.

New $8,000 Tax Credit For First Time Home Buyers

2009-07-23T17:50:00.000-07:00

Great news for first-time home buyers in 2009! The stimulus plan that President Obama signed into law contains a new $8,000 tax credit for qualified first-time home buyers. And, unlike the $7,500 tax credit from last year, this credit does NOT have to be repaid to the government, as long as you stay in the home for at least 36 months after the purchase date. Remember, a tax credit is much more valuable than a tax deduction. A tax credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable. This means the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Click here to download a copy of the IRS Form 5405 needed to apply for the tax credit. http://www.box.net/shared/6jbhk7u2p7
Who?
First-time buyers or anyone who hasn't owned a home in the 3 years prior to a purchase of a primary residence may qualify for a tax credit of up to 10% of the purchase price or $8,000, whichever is less. To qualify for the full credit, the buyer's modified adjusted gross income must be less than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. Partial credit is proportionally reduced for incomes under $95,000 (single) or $170,000 (married). For married taxpayers, the homeownership history of both the home buyer and his/her spouse are taken into account. This means if you or your spouse has owned a principal residence in the last 3 years, neither you nor your spouse qualifies for the credit.
What?
According to the IRS, a primary residence is the one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence. If you constructed your main home, you are treated as having purchased it on the date you first occupied it.
When?
The $8,000 tax credit is available for qualifying home purchases made from Jan. 1, 2009, until Dec. 1, 2009. This is not a typ-o. To receive the credit you must purchase a qualified home before December 1st, 2009 – not the end of the year.
How?
Unfortunately, as of today (July 23, 2009) you can NOT use the credit as a down payment. But, law makers are pushing to implement a creative way to do so. To receive the credit, you must purchase a qualified home first and then claim it on either your 2008 or 2009 taxes. If you make a qualified purchase after April 15, or after having already filed your 2008 taxes, you and your tax professional can submit an amendment to your return. To claim the credit, use form 5405. For help with amending your 2008 tax returns, contact me and I will give you the necessary information to do so.
Why?
The current combination of Zero Down home loans, lower home prices and lower interest rates makes for an amazing opportunity to buy real estate. Add to that, this $8,000 gift from the government, and renting a home just doesn't make much sense. If you or someone you know is ready to stop paying the landlord's mortgage and start building equity in your own home, give us a call. We'll run the numbers and see what makes sense for your individual financial needs.

5 Ways To Increase Your Credit Score - And FAST!

2009-07-19T23:17:00.000-07:00

If you are looking to improve your credit score quickly, now is the time to get started. Give us a call. We'll review your credit and find out exactly where you stand and where you need to get to. In the meantime, here are some great strategies you can utilize right away to give your score a little boost.

Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Canceling those cards may inadvertently undo all of your hard work.

Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.

Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don't report your information to all three credit companies - this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say isn’t.

Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.

Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail. If you'd like more information or a copy of our Sample Dispute Letter, give us a call right away. We'll be glad to help you in any way we can or, if it becomes necessary, refer you to credit professionals you can trust. If you or anyone you know has any questions about credit scores or what can be done to repair them, please don't hesitate to call me.

SMART MONEY - Interest Rate Buydown vs. Price Reductions

2009-07-14T14:23:00.000-07:00

In nearly every instance when you negotiate with a seller to lower their asking/selling price, you are leaving thousands-and-thousands of dollars on the table - dollars that could have been used to create compelling reasons for a buyer to purchase your listing.

“My goal is to help you change your mind-set and implement new strategies when it comes to marketing slow moving property. The most popular strategy employed today by Realtors to sell slow moving property is to REDUCE THE PRICE on a home.”

------------- Rate Buydown Flyer: www.box.net/shared/bzcopedx8c

------------- Rate Buydown Packet: www.box.net/shared/2vbicjfadx

The idea that price reduction is a great marketing tool for selling property in today’s changed market is a myth. Price reductions are a “Ho Hum” means of marketing. It is certainly not a “Thinking Outside The Box” type of marketing. Potential buyers that drive through neighborhoods looking for that “special” house are confronted with FOR SALE signs all over the place that tell them nothing about the property except that there is perhaps a “new price” for the home. Most Realtors fail in their observable marketing to provide a compelling reason for buyers to inquire further about their listings. Lowering the sales price may move some stagnant properties a bit sooner, but as a primary marketing tool, it falls way short of the benefits you will gain from the other efforts talked about in the attached booklet.

With a full shift in power from a seller’s market to a buyer’s market, both buyers and sellers need to re- evaluate the best approach to a transaction. The examples below illustrate how a “Closing Cost Credit” (3% for closing) from the seller, when applied toward a buyer’s Interest Rate can produce significant monthly savings for the buyer, and re-position the property to stand out against it’s competition. In this example, we used 3% in points or $13,500 to permanently buy down the interest rate from 5.00% to 4.00% resulting in a Net Savings of $241 a month.

Also, the “points” are usually a tax deduction in the year the property was purchased for the buyer. Please consult your CPA for specific information. This example shows you the power of reducing Interest Rate versus Sale Price. BUYER: Let me show you a smarter strategy to help you finance the purchase of the home of your dreams! SELLER: Let me show you a money saving strategy to help you market the sale of your home and saving you thousands of dollars in the meantime. E-mail me for more information at dan.mortgageadvisor@gmail.com

LOAN MODIFICATION MIRACLES!

2009-07-06T22:31:00.000-07:00

Yes The Bank Will Modify Your Loan, They Just Won’t Deal With You...
After I declined approximately 30 loans in early 2009, I knew that I had to do something to help my clients through the declining real estate market as well as the tough economic times. I was beginning to get more phone calls concerning the need to lower their monthly payment due to a hardship or potential employment issue. I tried researching different types of loan programs, loan modification, as well as talking to certain banks and lenders about their own loss mitigation guidelines... and nothing, I got nothing other than “Just have your clients call their bank and work it out with them...”. Well, that’s a joke. If you’ve ever called your mortgage servicer, you understand that most of the time you are talking to someone that speaks fluently in another country, and 10 times out of 10, they cannot help you... Countrywide alone has over 23,000 listings themselves and they are a bank, not a real estate firm... these banks do not have the time or staff to take on any more foreclosures... So eventually after trying to help a client through a loan modification in February, I realized that 3 months and hundreds of hours later, we finally got through to someone in their loss mitigation dept. that could help us, and eventually they did - 2 ½ months after that conversation... So, 6 months later, and numerous payments in default, my client’s loan was modified, but come to find out, very poorly modified, and now they were stuck with paying back all past due payments as well as the reduction in interest rate as capital gains (the importance of using an attorney assisted loan modification company). But check this out - in March, a miracle happened at Disney Land of all place... I took my family on a vacation to Disney Land and met my wife’s uncle Ken. I've heard about Ken, but never met him. On the way to dropping us off at Disney Land, we began talking about what he does, and immediately, I felt like a kid in a candy store, as though I was talking to the Babe Ruth of finance... (forget Disney Land I said, let’s go back to your office, but unfortunately Jenny would allow that...) He has been originating loans in Orange County for years and he basically stopped originating loans to begin modifying loans... California is one of the hardest hit states from our recent housing bubble and Ken, thinking outside the box, shifted gears in 2008 and is strictly modifying loans today. He has partnered with a law group in Orange County and together they are changing lives, seriously - amazing, credible, stuff that it keeping people in their homes, and securing their mortgage. He showed me some amazing examples of how they are taking hundreds of clients from higher 6%-7% interest rates, to 3%-3.5% fixed for 30-years... this stuff was amazing. He showed me numerous examples of people they were even able to help reduce their principle balance and interest rate together... I was ready to start doing this full time once I returned from my vacation. However, I got back and my company published a press release prohibiting any of their loan officers to participate in loan modification up in WA State... so in the meantime, until we can, I am referring people to my uncle Ken in California... Let me know if you have someone in mind that is in a hardship or faced with losing their home. I will get you his contact information- it's never too late. SPREAD THE WORD ABOUT THIS NEWS! IT IS TRULY UNBELIEVABLE!!!

Financial Peace Class # 1 - A Huge Success!

2009-07-02T08:22:00.000-07:00

Congratulations to those who graduated from my Financial Peace University Course last night! You are well on your way to Financial Peace! I had the privilege to teach Dave Ramsey's 12-week financial literacy course called Financial Peace over the past 3 months to 20 amazing people who now have a plan, a "Peace" of what to do in creating their budget, savings, insurance planning, mortgage, real estate, and longer-term investments. If you are interested in taking this course, I am offering it again in September and the cost is FREE, except for the workbook you have to purchase through Financial Peace University ($100). I was able to see this course change people's financial lives, and through these principles, my students now have a blue-print, a game plan for achieving their own Financial Peace in BECOMING DEBT FREE! I was absolutely amazed: In a 12-week period, how many of my students accomplished "baby steps 1, 2, and even 3, in creating an emergency fund of $1000, paying off debt using the debt-snowball method, and even beginning to save up their entire 6 month reserve account. Great Work Team! If you are interested in this course, I'd be happy to get you additional information and in the meantime, buy you a copy of Dave's book, "The Total Money Makeover" to get you started. The next step would be to enrol in our fall course at View Ridge Community Church. For your own copy of Dave's Total Money Makeover, e-mail me at dan.mortgageadvisor@gmail.com

Mortgage Window Shopping Again - Doing It Right

2009-06-25T16:47:00.000-07:00

Rates Have Been Volatile, But Get Ready -
They May Fall Again
read the attachment ( http://www.box.net/shared/005h9svob1 ) -
Shopping Around? Make Sure You A Doing It Right

After a recent spike seen in mortgage rates, some consumers are wondering whether they've missed their chance to refinance into an ultra-low rate. Fear not: While the conforming 30-year fixed-rate mortgage hit a daily average of 5.81% last Thursday, it averaged 5.53% on Tuesday, said Keith Gumbinger, vice president of HSH Associates, a publisher of consumer loan information. And it's possible that rates could continue to fall. "Predicting interest rates is like predicting who is going to win the World Series in January," said Guy Cecala, publisher of Inside Mortgage Finance. That said, he calls the recent spike "somewhat of an aberration," and expects rates will continue to drift down. Why the recent run-up in rates? Over the past month or two, "the economic skies have brightened somewhat," Gumbinger said in an email, and the threat of "trillion-dollar budget deficits for the foreseeable future, the potential for significant inflation, and few clues as to how the government might extricate itself from intrusions into markets" created a landscape that was not appealing to investors.But now, rates are retreating partly because inflation doesn't seem as immediate a threat as investors feared, Cecala said. In his opinion, nothing fundamentally has changed in the economy over recent weeks to warrant the rate rise, yet he expects volatility through the remainder of the year as investors debate the economy's health. "Realistically, I think that the rates will drift under 5% again. It may take a month, may take two months," he said. It's also important, however, to realize that extremely low rates likely won't be around forever, said Bob Walters, chief economist of Quicken Loans, in a statement. "Luckily, we have seen rates drop some this week, which should help many consumers breathe a little easier," Walters said. "But the fact remains, the government's plan of purchasing mortgage-backed securities cannot go on indefinitely, and when it ends, we will most certainly see a spike in rates. The hope is that the Fed can keep rates low long enough to kick-start a housing recovery. Whether that will work remains to be seen." "Volatility is the key word in the mortgage industry these days when it comes to rates," said Kyle Kerwin, senior vice president of mortgage lending for Signature Bank of Arkansas.

Here are five tips for those shopping for a mortgage today, particularly those who need to refinance an existing loan:
1. Get started on paperwork. Call Dan and get started on the necessary paperwork. Rates move regularly, and if paperwork has been started your file can be processed more quickly when rates hit a low. When you start the application process, your credit score will be pulled and you'll need to submit support documentation including W-2 forms and pay stubs. You might be asked for updated documents nearer to closing.
2. Make sure your credit is in good shape. Check credit reports and fix problems as soon as possible, said Mary Curran, president of Highland Financial Mortgage Corp. in Northbrook, Ill. Even seemingly small charges can haunt a borrower: A forgotten, unpaid parking ticket, for example, can noticeably affect a credit score, she said.
3. Decide at what rate it makes sense to pull the trigger. If you have a 6% rate now, rates would have to hit 5% or lower for it to make financial sense to refinance, Cecala said. Talk with your mortgage professional about what's best for your particular situation.
4. Stick to your guns. Once you determine the rate you'd need to get, it's probably wise to stick to that decision. Consumers sometimes gamble that rates will go lower, and the plan can backfire if rates reverse course, Kerwin said. A couple of weeks ago, rates were close to 4.5% in his market, "and people wanted to hold out for an extra eighth of a percent."
5. Remember, rates are still good. Yes, rates could fall and create another record low as a result of a swoon in the stock market, a collapse of a major bank or a deepening of a recession, Gumbinger said. But it isn't likely that many consumers would crave those economic shocks. "Why would anyone wish for those things again to simply get a rock-bottom, ultra low mortgage rate? If it means saving $250 per month on your mortgage but it costs you $50,000 in your 401(k), how could this be seen as any kind of benefit?" he said. Amy Hoak is a MarketWatch reporter based in Chicago.