My speciality for the last 3 years has been primarily to focus on helping 1st time home buyers make the dream of home ownership a reality. Wow what a cliche I just said. Anyhow my question of the week from many real estate agents is: How am I going to help buyers who having very little or nothing down?
In the past, the answer was pretty straight forward, we would look into down payment assistance. With Housing Bill HR-3221 doing away with my favorite pet, clients, lenders and real estate agents are scrambling to find good solutions to help these buyers get into ... Continue Reading
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I provide full service mortgage planning and guidance for the Tempe Arizona community. I specialize in helping first-time homebuyers obtain homeownership through FHA, VA and conventional mortgages.
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That's good to know. Something to check into in my area. Thanks!
Something to think about.
Rich
Charlotte NC
How is the Market down in Arizona think about coming down for Christmas to do some golfing and look for an investment property?
I keep checking the list and there aren't any in Lane County. Does that mean we did better making the original loans? LOL
On October 15, 0% down is not going to be an option any more in Canada, as financial institutions will no longer be offering that choice (abolished by the gov't). First-timers will either have to save the down payment, or will have to have it gifted.
Trunda- You will really want to check your options in your local back yard. Some areas of the country are offering better loan programs from Arizona. Thanks for the comment.
Rich- Just some good options. Thanks for the comment.
Pat- The investment opportunities here now is great, be prepared for 20% down for the best financing options. Just be careful to hire a good managment company if you will be an out of state landlord. I have some clients from California, and they have been having lots of problems with managment companys.
Fred- Probably, LOL :), The hud option might be available in your area, and with FHA the family DPA will still work. Good hearing from you.
Scott-
It's like politics gone wild. I know we are dealing with our own political issues here in the states. Thanks for the comment.
Any bond or grant money available in Maricopa County?
Patrick- There is bond money avaiable in Maricopa County. Right now the targeted area funds are only available.
Great blog I like how you link back to your site to drive more traffic their. Also look into USDA stuff they have 100% financing. Our maps in Central Florida have not changed in years.
There will be more options going forward since the banks have possibly found a bottom. -They will get greedy again soon
Check out your mortgage revenue bond (MRB) programs for your state. Most city programs are kind of a joke. We have several city programs here in Ventura County (SoCA) and some of them consistently run out of money before the end of the year. The state MRB programs are much better (bigger budgets). Also, with returning of may vets very soon (especially once we end this #$%^ war), there will also be VA available, which is 100% financing.
Gary,
You are a true mortgage professional. Thanks for keeping me on your mailing list.
Mike in Tucson
Mike- You are welcome!
In the past 3 years it has been one of my favorites also and I have to admit I am really wondering what I'm going to do with those buyers. Looks like I will be doing even more owner financing!
Todd