Maria Morales Realtor
Where Team Work Makes Dreams Work
Where Team Work Makes Dreams Work
Friday, November 19, 2010
Tuesday, November 16, 2010
203K Can Be Beneficial...
The words "as-is" and "fixer-upper" can be daunting and scary to the new homeowner and especially in today's market with so many foreclosures and abandon homes. But don't fret... The Federal Housing Administration (FHA) has several loan programs that can help out with those needed repairs and renovations.
With the help of the FHA's 203k renovation financing loan program, many homeowners can obtain the costs for such repairs right in their first mortgage. Renovation financing, through the 203k program, allows the cost of needed repairs and improvements to be done either prior or within six months after close of escrow. The loan can be used to pay for such items as new appliances, additions, smoke detectors and kitchen and bathroom remodeling to just name a few...
At a time when it is difficult to gain a loan for a home that is in such disarray, what better way to have comfort in knowing that you will have readily available funds to help you get started....
For more info, link on http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
or contact me directly for lender information.
This may be the way to provide YOU with your home purchase for a fixer-upper property !
Make A Difference !
Maria
With the help of the FHA's 203k renovation financing loan program, many homeowners can obtain the costs for such repairs right in their first mortgage. Renovation financing, through the 203k program, allows the cost of needed repairs and improvements to be done either prior or within six months after close of escrow. The loan can be used to pay for such items as new appliances, additions, smoke detectors and kitchen and bathroom remodeling to just name a few...
At a time when it is difficult to gain a loan for a home that is in such disarray, what better way to have comfort in knowing that you will have readily available funds to help you get started....
For more info, link on http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
or contact me directly for lender information.
This may be the way to provide YOU with your home purchase for a fixer-upper property !
Make A Difference !
Maria
Wednesday, November 10, 2010
MORTGAGE RATES RISE TO 4.21% FROM DECADES LOW
Rates on 30-year fixed mortgages rose slightly from their lowest level in decades, inching up to a national average of 4.21 percent.
Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans was up from 4.19 percent the previous week. That was the lowest level on records dating back to 1971.
The average rate on 15-year fixed loans rose to 3.64 percent. That was up from 3.62 percent a weak earlier, the lowest weekly average on records dating back to 1991.
Rates have been falling since April. The latest declines are largely because investors have been buying up Treasury bonds in anticipation of the Federal Reserve's likely move to buy Treasury's to stimulate the economy. That demand lowers Treasury yields, which mortgage rates tend to track.
Low rates haven't helped the struggling housing market, which recorded its worst summer in more than a decade. But they have led to a modest surge in refinancing.
To calculate average mortgage rates, Freddie Mac collects rates from lenders around the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.45 percent, up from 3.47 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.3 percent from 3.43 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.8 a point for 30-year. It averaged 0.7 of a point for 15-year and 1-year mortgages and 0.6 of a point for 5-year mortgages.
Mortgage buyer Freddie Mac says the average rate for 30-year fixed loans was up from 4.19 percent the previous week. That was the lowest level on records dating back to 1971.
The average rate on 15-year fixed loans rose to 3.64 percent. That was up from 3.62 percent a weak earlier, the lowest weekly average on records dating back to 1991.
Rates have been falling since April. The latest declines are largely because investors have been buying up Treasury bonds in anticipation of the Federal Reserve's likely move to buy Treasury's to stimulate the economy. That demand lowers Treasury yields, which mortgage rates tend to track.
Low rates haven't helped the struggling housing market, which recorded its worst summer in more than a decade. But they have led to a modest surge in refinancing.
To calculate average mortgage rates, Freddie Mac collects rates from lenders around the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.45 percent, up from 3.47 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.3 percent from 3.43 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.8 a point for 30-year. It averaged 0.7 of a point for 15-year and 1-year mortgages and 0.6 of a point for 5-year mortgages.
Friday, August 13, 2010
Raiders 1st win....
Ok, I know we are in pre-season and it was the only first game but we've got a win to celebrate... Now we must keep up the momentum and place some more wins in the book !!! I know there are many Raider Haters out there but I am true to the Silver & Black, so let's get it on....
Monday, August 9, 2010
Fannie Mae offer solutions
@FannieMae has launched a new consumer educational site called KnowYourOptions.com. The site was set up to assist homeowners wo are struggling with their mortgage and help them find solutions. I've checked out the site myself and it seems to have an abundance of helpful information and is easy to get around. Check out KnowYourOptions.com today ! What do you think... Interested in getting your feedback.
Friday, July 9, 2010
What are the advantages of a FHA Loan?
FHA offers low down payment options, eligibility with less than perfect credit, a loan at a reasonable cost and help if there is ever making the mortgage payment. There have been recent changes that make FHA loan more competitive in todays market. Check out the possibilities with their different 203 plans.
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