While FHA has relaxed some of the repair requirements for FHA loan approval, there are still many that a seller should consider. If a seller is intent on selling a home "as-is", the seller should be aware of the items FHA will enforce. However, if a seller is still amenable to an FHA mortgage, they should be sure to place a specific dollar cap on repairs that the FHA … [Read more...] about FHA Requirements for a Seller
Mortgages & Financing
Is 2018 the year to buy a home in Southwest Florida? Analyzing the right time to buy a home in Southwest Florida, otherwise known as "Market Timing", is difficult to calculate. Personal and societal economics are in constant change. Nevertheless, we all need someplace to live and a home is one of our biggest investments. Even if you are considering a second home, it is a … [Read more...] about Buy a home in Southwest Florida
Closing the sale of a home can be a stressful and time consuming process. The usual time for a home closing from contract acceptance to move in day is between 45 - 60 days. Many buyers moving to Florida are eager to move into their new home and want to speed things along. Whether you have all the time in the world or you wish a fast home closing, you will want to have an … [Read more...] about Stay on Track for Home Closing
Check out these interesting programs for moderate income buyers. If you can't come up with a big downpayment, don't dispair. There are now mortgages for you! If you are a young person or family who is renting a home or condo but wish to buy, you have options. Fannie Mae offers mortgages through a program called HomeReady. Freddy Mac has a program called Home Possible … [Read more...] about Fannie Mae and Freddie Mac Mortgages
A report by the Mortgage Bankers Association (MBA) has determined that high student loan debt is slowing the recovery of the real estate market. First time buyers are finding it difficult to meet al their obligations and are delaying the purchase of a home or choosing to rent instead of own. FHA is also changing rules that had helped grads in the past. A rule change that could … [Read more...] about College Loans Hurt Buying Real Estate
The Consumer Financial Protection Bureau has issued regulations to protect borrowers from loans they cannot afford and make banks more responsible for those loans. Some of the new rules include the requirement that homeowners will get a monthly statement of account or a coupon book to make payments showing the current mortgage balance, payment amount and next due … [Read more...] about New Mortgage Rules
On December 6 HUD has released updated loan limits for FHA financed single family homes. NORTH PORT-SARASOTA-BRADENTON, FL MSA (Metropolitan Statistical Area) Sarasota & Manatee Counties $285,200 PUNTA GORDA, FL (MSA) CHARLOTTE County $296,250 24143 Peachland Blvd Port Charlotte, FL 33980 Office: (941)235-0933 Chase Lending Advisors … [Read more...] about New FHA Mortgage Limits
There are many things that can go wrong, even after you have been pre-approved. Click here to read the do's and don't's: http://rotonda.suncoasteam.com/2013/01/23/how-to-mess-up-a-mortgage-pre-approval … [Read more...] about Be Careful When Applying for a Mortgage
In today's economy, the attraction of quickly reducing and possibly eliminating the burden of a mortgage is very appealing to many home owners. But, is paying down your mortgage really the best idea? The average consumer may argue that paying off their mortgage debt faster is a smart decision since ridding oneself of quite possibly the largest financial obligation they will … [Read more...] about Is Paying Down Your Mortgage Early a Good Idea?
Real estate owners all around the United States have felt the impact of the current housing crisis and economic recession. As property values have dropped, many home (and condo) owners have been engulfed by a sense of panic and have become uncertain as to whether they should ride out the "economic storm" or simply try and sell their property at a lower value in this buyer's … [Read more...] about Banks Loosen Credit; Housing Crisis Over in 2012?