Bo Kociuba

RAIN, RAIN GO AWAY...

For the last 18 days we had only one day without a single drop and that wasn't even for a whole 24 hours...

Until today I almost forgot how the sun looks like, not to mention how it feels when it shines. Gloomy, overcast and rainy days seem to be on our calendar for a few more days...I laugh about it (what else is there to do for the optimist like me) and say that I started growing green on my body - LOL...

Truly in my garden I have rocks which are covered in moss and they look awesome! Patiently, however, I wait for the summer to come very soon...

Being an optimist as I am, I tried to snap out of this 'hibernation' and get into some kind of action ... like a good project or someting like that to catch up and ... I dipped into my 'to do bag'...and you know, I found plenty there! Since Realtors are not 'normal' people we always race with time and things to do.

I didn't go to the office, I just stayed at home and worked on my database, client call and correspondence. Recently I purchased a new contact management software and try to integrate all of my tools to work with Microsoft Outlook.

Finally I categorized, organized, applied plans, updated details and info etc. etc...I called a lot of my clients and got things rolling like a rolling thunder...it was so nice to have this 'burden' getting off my list!

It is a slow process...but it has to be done. As always the beginnings are the hardest part of action. I have not yet finished my updates, calls and correspondence but the majority is behind me!

So what can I say...Rain, rain go away but I think I am glad that it was here to stay. Activity breeds productivity!

With green smiles (I hear a thunder again),

Bo

PS. To search for homes in Yukon, Mustang and OKC area visit: www.Okla-OK.com

TAX CREDIT CAN BE USED FOR DOWN PAYMENT

"Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says.

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table."

Let me know if you need more info, details or have questions...405-812-1572

also here is a link to help you search for new homes in Yukon or Mustang, OK: www.Okla-OK.com

With smiles,

Bo

State Bond funds are going to be available for first time home buyers in Oklahoma State beginning April 28, 2009. Qualified buyers can apply for 5.83% interest rate FHA/VA loan and 3.5% downpayment assistance which is required by FHA (Federal Housing Administration).

Please contact me at 812-1572 for more details.

Happy house hunting to you all!

With smiles, Bo

Is going FHA really the best way?

For the last few good years FHA (Federal Housing Administration) loans were not so very popular. But this is definitely changing and the attractiveness of the loan once more is appealing to the borrower.

This financing option was born during the Great Depression out of necessity to assist the nation which was facing the greatest financial crisis. With years passing, however, this type of a loan fell out of favor because of housing prices going up and limitations on amount of money which could be borrowed.

Fast forward to today's date and our nation faced again with a big financial challenges. And once more we notice a very strong consumer interest in this type of a loan.

What is an FHA loan? The FHA doesn't lend the money or set the interest rates but it insures loans for lenders against defaults. To obtain a competitive interest rate and terms on a mortgage, you should compare options offered by different lending companies.

Why consider an FHA loan? It is a very appealing form of financing for majority of us and here is why:

• if you are a first time home buyer
• if you don't have a lot of down payment money
• if you want to keep monthly house payments low
• if you are a buyer with less than perfect credit
• if you want competitive interest rate

Because of the insurance the FHA offers the lenders can offer more attractive interest rates and less strict requirements (debt to loan ratio) to qualify which greatly benefit the borrower. 3.5% required down payment could be obtained from a family member, employer or charitable organization as a gift. There also other options for down payment like the community action programs. The best way to find out which options are available to you is to seek advice from your lender.

What kind of loans FHA offers?

• Fixed rate - the advantage of this loan is that the interest rate stays the same during the loan period, and your payment doesn't change
• Adjustable rate - if you are buying more expensive house you may 'lower the payment' because the initial interest rate and payments are low. However, the terms will change during the life of the loan.
• Purchase/Rehabilitation - if you are interested in a house which require lots of work you may apply for Single Family Rehabilitation Loan program also known as 203K

Most loans require some sort of insurance when down payment is less than 20% of the sales price. And yes, you have to buy mortgage insurance in order to obtain the FHA financing. The premium is charged up front or in monthly installments and is equal to the percentage of the mortgage usually 1.75 percent.

In summary FHA insured loans offer a lot of value and benefits to potential borrower.

Happy HOME HUNTING!

With smiles, Bo

PS.

When you have my team on your side you'll be amazed at the results of the home buying and selling process - so let's get together!

Just browsing on the Internet yesterday I found few interesting things....One of them I thought I shall share with you all. All of us being 'seasoned' Realtors usually don't understand how much power ONE has, especially when ONE is dedicated to the cause and a little miffed...lol...

Laugh with me - It is LAUGHING FRIDAY at The Optimist Group!!

And all Realtors should know that when selling a home, legally you must state everything that is wrong with it. I find the following is not often revealed...

Happy Friday to you all!

With smiles,

Bo