Bill McDonald

On April 1, 2012, FHA mortgage insurance premiums (both the upfront and monthly Premiums) will increase to replenish the FHA depleted accounts.

Although FHA mortgage interest rates continue to remain at all-time lows, FHA mortgage fees are increasing, making the cost of buying a home or refinancing a home more expensive. The consecutive increase in FHA mortgage insurance premiums may limit a home buyers “buying power” but protects the nations primary “low cost” mortgage program for homebuyers.

There was a great article in the Washington Post explaining the current financial situation of FHA if you are interested in learning more – FHA Bailout

Currently, a homebuyer can qualify for a FHA mortgage in Tennessee with a 640 credit scoreas low as 640 , 3.5% down payment, and no money/assets in reserves (You can even use gift funds for your down payment).

How Does The New FHA Mortgage Insurance Affect the Homebuyer?

FHA covers the payment “risks” by charging an upfront mortgage insurance premium fee in addition to a monthly mortgage insurance premium.

Currently, homebuyers pay an upfront mortgage insurance amount of 1% (of the loan amount) and a monthly premium of 1.15%.

Under the new FHA increase in mortgage insurance, home buyers will pay an upfront mortgage insurance fee of 1.75% and a monthly fee of 1.25%

A comparison – Let’s look at a $200,000 mortgage

- Current FHA Upfront Mortgage Insurance Premium: $1,930
- New FHA Upfront Mortgage Insurance Premium: $3,377

- Current FHA Monthly Mortgage Insurance Premium: $187/month
- New FHA Monthly Mortgage Insurance Premium: $205/month

AlternativesTo The New FHA Mortgage Insurance

If your credit score is over 680, then you may be eligible for a conventional Fannie Mae mortgage which requires 5% down payment. Considering the $200,000 home purchase, you could save approximately $63/month and eliminate the upfront mortgage insurance premium.

If you are a first-time homebuyer, I would also recommend looking into the Tennessee USDA Home Loan Program. This loan program offers a zero down option with a low monthly mortgage insurance premium.

Please feel free to contact me today to discuss your opitions for purchasing your new home.

Looking for a 3 bedroom starter home in South Baton Rouge? This one is great. Updated with paint and new roof it is right of off Siegen Lane and Perkins Road in South Baton Rouge.

	1866 Southland Baton Rouge, LA 70810 Nice Starter Home in Village St. George
Home Photo Gallery Virtual Tour Property Map Payment Info Request Showing Ian Aymami Daytime: 225 266 9777 eMail: Contact	Price : $119,900 Bedrooms : 3 Bathrooms : 1.5 Square Foot : 1,306 County : East Baton Rouge Property Type : FSBO click for more information and pictures Property Description Nice starter home in the Village St. George area Newly painted exterior New roof put on in January 2011. Architectural shingles All rooms in house recently painted Spanish tile throughout main living area. Large fenced in yard with a storage building New furnace Large live oak in front yard (keeps the AC bills down in the summer) Excellent 3 Bedroom 1.5 bath house in Perkins South. The living area features satillo tile floors. In the kitchen you will find refinished cabinets and ceramic tile counter tops. All of the rooms have hardwood floors. There is a huge workshop and outside storage in the backyard. The roof is a year old. There is also a covered patio in the back. All of the rooms have been recently painted.
Equal Housing Opportunity.

Tennessee VA Home Loan - It is an honor when I get the opportunity to help U.S. military veterans and their family purchase a new Tennessee home together. Providing great care and service throughout the home loan process is the least I can do to say, “Thank You” to our U.S. Veterans.

The Benefits of using the VA Home Loan Program

(1) Zero Down Option
(2) No Monthly Mortgage Insurance
(3) 640 Minimum Credit Score
(4) Relaxed Underwriting Guidelines

5 Easy Steps To A Tennessee VA Home Loan

1. Obtain a Certificate of Eligibilty (We can help if you do not have your your VA Form 26-1880)
2. Fax a copy of your DD 214 to the Bill McDonald Team
3. Get VA Pre-Approved Bill McDonald
4. Contact your Realtor to begin looking at homes in your price range (If you would like, I would be happy to refer a great VA agent).
5. Order an appraisal from VA (this is done by Bill McDonald and his team).
6. Bill & his team closes the loan in 30 days or less, and you move into your new HOME!

Items Needed To Process Your VA Loan Approval

1. Social Security number
2. Home addresses for the past two years
3. Names and addresses of your employers for past two years
4. Your current gross monthly income
5. Names, addresses, account #’s and balances on all checking and savings accounts
6. Names, addresses, account #’s, balances and monthly payments on all open loans
7. Addresses and loan information of other real estate owned
8. Certificate of Eligibility and DD214, (for veterans only)
9. W2’s for the past two years and most recent 2 check stubs
10. For self-employed , you will need to provide personal tax returns for the past two years, current income statement and profit/loss statement for the business

Though the process can involve a lot of paperwork, it is important to know that me and my team are equipped to take ALL of the stress and headaches out of this process, so let us assist you as much as we can.

We are a direct lender with the Dept. of VA, so we are able to ensure that you receive the best service, communication, rates, and very importantly, a timely closing. So sit back, relax, and let us take care of you! Because in the end, this is not just a house, it’s your HOME. Welcome HOME!

Are you getting Married Soon? Helping a friend or a family member prepare for an upcoming celebration of love in 2012 or 2013? You owe it to yourself to speak with Allie of Weddings by Allie any time you are looking for a Wedding Planner in Baton Rouge.

Allie has been helping with Baton Rouge and Louisiana Brides plan the perfect wedding since 1995. Since then she has benn the wedding planner, planning and coordinating over 600 weddings in the Baton Rouge, Louisiana area. She has become the best Baton Rouge Wedding Planner, Let her help plan your wedding, you will be happy you did.

Great 4 Bedroom home in Clarksville, TN near Fort Campbell

6 Boyer Farms Clarksville, TN 37043 Open Floor Plan in Boyer Farms

Price : $322,600 Bedrooms : 4 Bathrooms : 3.5 Square Foot : 2,964 County : Montgomery Property Type : Detached Year Built : 2011 MLS Number : 1285779 click for more information and pictures Property Description A spacious 4 Bedroom 3.5 Bath split bedroom ranch home on a beautiful lot in a convenient location! Enter into this open floor plan home through the inviting foyer. It is vaulted and is flanked by arched doorways. Adjacent to the foyer is the formal Dining Room. It also features open arched doorways and custom trim details. The charming Great Room has lots of windows that allow in lots of natural light, a warm fireplace and a vaulted ceiling. The cozy Breakfast Nook looks out onto the backyard. The premium Kitchen has a pantry, matching appliances, granite countertops and lots of custom cabinets. The private Master Bedroom has a double tray ceiling, a sitting area with private patio and separate walk-in closets. The stunning Master Bath has double vanities, a tile shower and a whirlpool tub. There are three additional bedrooms with extra large closets. Upstairs you will find an oversized bonus room complete with storage and a full bathroom. Other extras include a separate utility room, a half bath on the main floor, a two car garage, a patio and much more! Schedule Your ShowingAppointment Today! Boyer Farms is being designed as an upscale neighborhood, inspired by the quality of Southern Living Magazine. The development will serve both the growing industrial workforce and the Ft. Campbell community of Clarksville. The target price point of the neighborhood is $250,000 to $350,000. This range will help to satisfy the growing need for residential properties for Clarksville’s incoming industries. Crabbe Construction is Clarksville’s only member of Southern Living Magazine’s Custom Builder Program. This Program is the foundation for this development. The lots, at 110’ wide, will be larger than is usual for houses in this price range. The sidewalks will be wider than is required as well, in order to establish the strong sense of community for which Clarksville is known. Trees will be planted during the development phase both along the roads and the back property lines so that the residents of Boyer Farms have the same sense of heritage that the Boyer family holds

Equal Housing Opportunity.