Effective April 1st, 2012 FHA (the Federal Housing Administration) has some new costs and mortgage structure changes. Nothing major, but certainly something you should be aware of, because it's going to increase some of the costs to home buyers.
Click on this link to see a short presentation of the changes.
These are FHA changes, across the country, effective for all new applications after April 1, 2012. The FHA doesn't fund mortgages; they only insure mortgages. But, with increased default due to the current economy, and because of the rough loans from a few years back, the FHA has to increase their insurance premiums to keep their pool of insurance funds available to help with those defaults.
Ken Pederson of FAIRWAY Independent Mortgage in Lancaster, PA, encourages you to deliver yourself in your marketing; specifically via video. Video allows you to communicate so that your customers pick up on your personality, and nuances, that are often missed in an email or phone call. It's the next best thing to face-to-face.
Ken Pederson at FAIRWAY Mortgage discusses the gadgets we surround ourselves with in our effort to stay on top of our databases and calendars, and encourages not to lose sight of what's important. Keep in mind that you're in sales, and picking up the phone is still just as effective as it has always been. A database is still a database whether it's in software or in a recipe box on note cards. If you nurture your database, it will flourish.
This week's extra
Ken Pederson from FAIRWAY Independent Mortgage Corp. in Lancaster, PA, asks if you're feeling the market pick up, too. Want to make your market pick up? Focus on prospecting, marketing (who's getting your message and how consistently?) and networking. He shares tips from 3 top voices in the real estate world: Floyd Wickman says write down your goals. Bill Hart says get clear on what you want for this year. Michael Maher asks what's your word for the year that sums it all up and helps you make it happen?
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Certified Mortgage Planner, CMPS. Residential mortgage lender serving Lancaster County, all of PA and surrounding States. We're here to help you.
About Us:
Ken Pederson has been helping families to buy, build and refinance their homes for over 20 years in Lancaster County and South Central PA. His experiences as a large corporate banker and small mortgage broker have led him to FAIRWAY Independent Mortgage Corp. FAIRWAY is an independent company that provides Ken and his staff, the best of both worlds to meet the growing needs of his clients with affordable solutions. Fairway is one of the top lenders in Lancaster and PA.
Weekly postings, complimentary articles and free reports on buying homes, selling real estate and personal finance can be found at one of our blog/ezine sites, click here.
Areas of Expertise
My area of expertise is helping families to truly navigate their way through the mortgage maze and helping them to make a sound decision in building their home financing plan. It's important for home buyers to know the pros and cons of their decision and to know how their home financing decision has a lasting effect on almost all of their other financial goals. Monthly payment, equity, tax consequences, short and long term financial goals must all be taken into account when obtaining a mortgage. Mortgage planning, tax planning and financial planning all work better when working together.
We are FHA specialists at FAIRWAY. We have a FHA underwriter in our office.
With over 20 years of personal experience and over 50 years of mortgage experience in our office, we've seen all types of situations and know how to help, guide and consult with our clients to help them achieve their real estate goals.
We teach home buyer education and specialize in working with first time home buyers.
The education garnered through the CMPS Institute and an active member of Mortgage Planner University helps us to work with mid to upper income families and help them to build wealth with their home mortgage financing plan. Our clients enjoy the complimentary monthly Mortgage Advisor Newsletters focusing on topics of personal finance.
Testimonials
Great Experience. Fairway was the best mortgage company I have used in over ten buys in the past 30 years. - Colonel Frank Sullivan
Our experience with Ken and Fairway was terrific! We are completely satisfied and know our friends will be, too. Ken was so informative and knowledgeable. He listened to us and got us a mortgage that we are very happy with. Working with Fairway was one of the best decisions we made. - Kermit & Karen Rishell
The people are regular and friendly. At the same time professional. I felt very comfortable. I learned a lot and didn't feel inadequate either. Great 1st experience. - Lisa M. Watts
Working with Ken Pederson to obtain mortgage financing was made a pleasure as Mr. Pederson's experience and dedication to his client's needs showed during the entire transaction. Mr. Pederson and his dedicated team of professionals certainly earned our business. Ken would be our first and only choice in any future mortgage financing. -- Mark & Eileen Bair
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