Dan Keller's Home Ownership For Heroes Program

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

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?

"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

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)

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

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!

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.