Bryce Mead. Mortgage Officer. RMG. 952.417.8481

I just wanted to share some good information I read on National Mortgage News's Website by Bonnie Sonnick.

"All average mortgage rates tracked by Freddie Mac in its weekly primary market survey continued to drop, setting record lows for the year."

That is never bad to hear!

Have a great Wednesday everybody!

Thanks,

Bryce Mead

Follow me on twitter "brycemead"

Home Path property buyers can receive 3.5% in closing costs assistance!

The HomePath property buyer must meet the following qualifications to be eligible:

Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible.

The initial offer must be submitted on or after April 11, 2011. If an initial offer was made prior to the effective date, the offer is not eligible for the incentive.

The loan must close on or before June 30, 2011. No exceptions will be made to this deadline.

Only buyers purchasing a HomePath property as their primary residence may receive up to 3.5% in closing cost assistance. Second homes and investment properties are excluded from the incentive.

Buyer must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.

If a buyer's total closing costs are under 3.5%, the difference will not be available as a credit to the buyer.

I can do Home Path Financing!

Thanks,

Bryce Mead

The Streamlined Federal Housing Authority 203(k) program allows qualified borrowers to finance an extra $35,000 for a variety of home improvements. This excellent program was put on hold last year due to issues many lenders had managing disbursements. Since then there have been improved processes that are now in place. We are now pleased to be able to offer this option again.

Use the $35,000 for a variety of improvements!

· Replace or repair: roofs, gutters, siding, downspouts, doors, windows, plumbing, electrical systems, flooring, insulation, decks, patios, porches, even HVAC systems.

· Appliances: Purchase and install washers, dryers, refrigerators, free standing ranges, microwaves, and dishwashers.

· Make improvements of accessibility for people with disabilities.

· Even remodeling, as long as it does not involve structural alterations. Ex. finishing an unfinished room is acceptable, altering wall placement is not.

Program Highlights:

· Eligible on fixed rate mortgages with 30 year terms.

· One underwriting review and one closing review. The financing will be based off the completed value of the home rather than the present value.

· Eligible for 1-4 unit primary residences.

· No minimum amount; borrowers may finance up to an additional $35,000.

· Funding may be used for a variety of improvements. Structural alterations are not allowed.

· Borrowers have up to six months to complete improvements.

The Streamlined 203(k) program is a great solution for clients who are searching for a cost effective way to repair or improve their current home but do not want a second mortgage. It is also a great solution for buyers who are interested in improving a property.

Thanks,

Bryce Mead

brycemead.com