Buyers · Real Estate

Expanding my Territory…

Just launched a new website created for buyers searching the MLS for property in SW Washington. It’s called VancouverWAhomes-ClarkCountyRealEstate.com. This website is a portal to my FREE property search feature. Unlike other sites out there, my site does not require a shopper to initially create an account to use my property search feature. This allows customers time to test my site to determine if they like it.

Non-account search features include:

  • Ability to search based on your personal criteria
  • Share information via social media like Facebook, Twitter, MySpace, etc.
  • Request more information
  • Schedule a showing
  • Map location

After viewing 500 detail pages a customer will be required to create an account. I figure if a customer is looking that hard, they might as well create an account.

Creating an account offers the following features:

  • Save custom searches
  • Save unlimited properties to compare or show others
  • Free customized email updates (only receive the information you want)
  • Organizational tools
  • Private and password protected

You’re invited to check out my site and let me know what you think of it.  VancouverWAhomes-ClarkCountyRealEstate.com

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Mortgage · Real Estate

What you may not know about the VA Loan…

The VA home loan is set up so a vet can purchase a home for $0 down. This is possible because VA will allow a vet to get a 100% loan, guaranteed by the government, and will not allow a vet to pay buyer fees. VA loans typically offer veterans excellent interest rates which are often offset by a lender by charging discount points.

What are discount points?
The discount points are prepaid interest that has to be paid to make up for the difference between the FHA/VA rate and the current rate charged on conventional loans. These points cannot be added to loan amount to be paid the vet. Discount points must be paid by the seller or the lender.

Who pays the discount points? Continue reading “What you may not know about the VA Loan…”

Buyers · Law/Regulations · Real Estate

Home Buyer Tax Credit…

If you take the first time or move up home buyer tax credit, make sure you can provide eligibility documentation for the IRS.

It seems there are some people that took the credit that weren’t eligible. In an attempt to avoid this from happening in the future, the IRS has tightened the rules regarding this tax credit.

To take the home buyer tax credit, offers must be contracted by April 30, 2010 and must fund by June 30, 2010.

For more information regarding the home buyer tax credit eligibility, refer to a tax professional and/or the IRS.

Law/Regulations · Mortgage · News · Real Estate

FHA Financing Changes…

Most of the changes have to do with tightening the regulations on the lenders.  The key changes that directly effect the FHA buyer are:

  • FHA upfront mortgage premium will increase to 2.25% from 1.75%.
  • If a borrower has a credit score below 580 they will be required to have a 10% down payment, while the minimum down payment for all other qualified buyers will be 3.5%.
  • Sellers concessions will be reduced from from 6% to 3%.
  • Feb. 1, 2010 the 90 holding rule on properties is being lifted for 1 year (some restrictions still apply, refer to HUD for more information).

In my opinion, the best loan out there is the VA Home Loan.  If you’re VA eligible, it’s the way to go right now. An eligible vet can purchase a home with ZERO down provided they qualify for the loan (income to debt, credit score, work history, etc.).

There’s still time to take advantage of the tax credit. Let’s talk!

For more info about FHA loans, check out hud.gov.

Real Estate

Tax Credit Nearing an End…

There’s still time to take advantage of the tax credit.  First time buyers ($8000) and move up buyers ($6500) must have a mutually agreed upon signed contract dated on or before April 30, 2010 and must close on or before June 30, 2010.  Want to search for property?  Try my MLS Property Search on my website!

Buyers · dream · Goals · Home · Real Estate

Down Payment Help is On The Way…

It appears down payment help is officially on the way for first time buyers!

It was announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. The goal of the new FHA plan is to help stimulate home sales and help stabilize the housing market.

For more information about this great opportunity, please refer to http://www.hud.gov/news/release.cfm?content=pr09-072.cfm