Macdill AFB, FL

Which Government Backed Home Loan Is Best Suited For Purchasing My New Home?

If you want a loan with a No Money Down Option then you must be a veteran or you must purchase a home in a HUD Approved Area for Rural Housing. The VA and USDA Loan are the only type loans that offer the No Down Payment Option for buying a home.

The FHA loan is the most popular type loan at this time because the down payment requirement is only 3.5% compared to the Conventional Loans which require 5% down. Both require the added cost of Mortgage Insurance any time less than 20% down is used.

The VA and USDA Loans do not require mortgage Insurance but have a funding fee that is financed into the loan. The USDA funding fee is currently 3.5% but expected to rise with the growing number of defaults. The VA funding fee varies and is determined by the veterans DD214 and Certificate of Eligibility.

Here is a snap shot of the type client that may choose one of these loan types.

VA Loan - An active member or a former member of the armed forces.

USDA Loan - A person living in or wanting to buy a property that resides in an area that typically has under 10,000 other residents.

Conventional Loan - A person with clean credit and 5% or more saved for the down payment of their new home.

FHA Loan - A person with past credit issues that have been resolved in the last year who does not have any money saved for a down payment but who has a relative that will give them the money to put down and/or co-sign on the loan for them.

The Interest Rates on all of the above mentioned loan types are at their lowest levels in the past 100 years. Some are opting for the 5 year arm which is fixed at 3% for the first 5 years of the 30 year loan term. Many of whom plan to refinance or sell the property within the next 5 years.

Senior Home Loan Originator Jim Poole

NMLS #351358

Attention Local Military Transfers!!!

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We are here to be Tampa's #1 Real Estate Company. You can also search for Foreclosure Deals throughout Florida here:

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Find the best property searches in the Tampa Bay area at McBride Kelly & Associates Realty! Search the entire MLS and find great foreclosure deals. Our company specializes in HUD homes, foreclosures and short sales. Search free 24 hours a day at http://www.mkarealty.com

We are here to be Tampa's #1 Real Estate Company. You can also search for Foreclosure Deals throughout Florida here:

http://www.brianmcbriderealty.com/mx/Foreclosure/?showmap=1&st=fl

A good friend of mine has been a International Travel Agent for over 20 years; she works for a very busy travel company that manages the international travel itineraries for other large companies.

Over the years she has developed a bond with a number of people and has helped them over and beyond the call of duty.

These are tasks unrelated to her job; but she has the knowledge and experience to assist them, so she does, making their day a little easier. Mind you these are tasks she is not required to do; gets no extra pay for and has to do on her own time. It's against company policy to do them while clients are waiting to speak to an agent; which is the case 90% of the time.

It causes her concern when she does go the extra mile for someone who makes a special request without saying as much as PLEASE or Thank You! That's all she gets for doing it; so "Would it KILL you to just say Please or Thank you?"

Yesterday she had a lady she has been helping for the last 2 or 3 years send her back an email that said, "OK got that; but what about this?" E-Mails can often be construed as RUDE; so Please and Thank you is well worth the extra 2 seconds it takes to type it in.

It upset her in a way that she ignored the E-Mail; and then Ignored the follow up E-Mail which was lacking just as much in tact. She told me that she decided that the client could just call in like the everyone else; wait on hold until the next agent picks up and then request what she wants; and be told that it isn't something we are authorized to do. Mind you wait times have been as long as 2 hours recently due to the weather in the Mid West and North East.

Of course the client is clueless; she sends an E-Mail to her today that says did I do or say something to upset you? How are we to respond to that? "Would it KILL you to just say Please or Thank you?"

Of course not. She just typed back: "Sorry; I have been really busy!"

The point is when you take someone's act of kindness for granted; you better not expect any additional acts of kindness.

And if you ever get an E-Mail that says, " Sorry... I have been really busy. Well; enough said!!!