Trends in home prices, personal income and mortgage rates, combined with tax advanctages of home ownership, make th is an excellent time to turn the home of your dreams into a reality. If you're thinking of buyign a home, you've probably already asked yourself, "Can I afford to buy?" Another good question to ask is, "Can I afford to continue renting?" No matter what you're currently paying for rent, your total cash outlay over a period of several years will probably add up to a much bigger total than you may have realized. If you are paying $1,000 in monthly rent, over 10 years you would have paid $120,000. If you were to save the money that earned an 5% interest rate your money would've totaled $155,282 in 10 years, subsequently $411,034 in 20 years, $832,259 in 30 years.
Take a good look at your personal financial situation in comparison to housing price trends and mortgage plans available in your community. You will probably discover that you are closer to home ownership than you realized. And that, in fact, this is the time you've been waiting for. Buying a home is probably one of the biggest investments you will ever make. When it's your first home, it is especially important that you seek qualified assistance. Your local real estate agent has the experience and expertise to help you find and purchase the home of your dreams. Contact me at 702-212-2288 on how to become a first time home owner!
Shall-Ching Lu
Keller Williams Realty
Your Pet's Choice for a Real Estate Professional
With credit markets still tight, many would be buyers are struggling to qualify for a mortgage or sell their previous homes. But allowing a potential buyer to lease to own can address that problem and even allow the owner to lock in a sale price. Typically the renter agrees to buy the house for a set price at a later date. In exchange, the owner receives a non-refundable payment sometimes as high as 3 percent of the purchase price. In addition the renter pays up to 25 percent more in rent each month which goes toward the purchase price.
For more information on lease to own please contact me at 702-212-2288.
Shall-Ching Lu
Keller Williams Realty
Your pet's choice for a Real Estate Professional
With credit markets still tight, many would be buyers are struggling to qualify for a mortgage or sell their previous homes. But allowing a potential buyer to lease to own can address that problem and even allow the owner to lock in a sale price. Typically the renter agrees to buy the house for a set price at a later date. In exchange, the owner receives a non-refundable payment sometimes as high as 3 percent of the purchase price. In addition the renter pays up to 25 percent more in rent each month which goes toward the purchase price.
For more information on lease to own please contact me at 702-212-2288.
Shall-Ching Lu
Keller Williams Realty
Your pet's choice for a Real Estate Professional
An exciting new program has been announced!!!
The Culinary Union has announced a new loan program that will allow Union members to access a deferred loan to cover the costs of down payment and closing costs requirements....up to $20,000 maximum.
This means they can get in a home for as little as 1% down.
Criteria for EMPLOYER-ASSISTED HOUSING PROGRAM Deferred Loans
Money has to be used as payment of the down payment and/or closing costs. Limit is $20,000
Must be owner occupied.
An eligible applicant must meet the criteria for underwriting applied by the FHA, VA, or Fannie Mae.
Purchase price must be priced $360,000 or lower. However, please keep in mind it must still fit FHA, VA or Fannie guidelines, so please call your lender to discuss all loans and down payment requuirements as the $20,000 may not always be enough in homes priced over $307,500.
The eligible applicant must make a minimum investment of 1% of sales price towards down payment and/or closing costs.
An eligible applicant must be a current member of the Union at the time of the loan to be eligible for assistance.
The eligible applicant must meet the minimum tenure requirements of employment.
Call 702-212-2288 for more details on this program.
Keller Williams Realty
Shall-Ching Lu
| NEVADA BOND PROGRAM |
| 1) A first-time home buyer is defined as someone who has not owned or co-owned their own residence within the past three years. |
| 2) If you are purchasing in a "Targeted Area" there are no restrictions on former home ownership. |
| 3) Total Gross Income cannot exceed $72,120. If you have a 3 person or more household it cannot exceed $84,140. |
| 5) Assets may not exceed 50 percent of the purchase price |
| You will have to pay back that loan as well but it comes with an interest rate only slightly higher than the other mortgage. The rate on the down payment funds is 8.35% today and the loan is payable over 20 years. Plan on about $8 per month for every $1000 you borrow. |
| successfully complete a one-day First Time Home Buyer Education Course |
| 45-day close |
| Bank list | ||||||||
| Countrywide | Nevada Bond | |||||||
| MetLIfe | 1st mortgage - 7.25% | 97% | $ 992 | |||||
| Bank of America | 2nd mortgage - $10,000 - 9.124% | 20 year loan | $ 36 | |||||
| Wells Fargo | Can refinance! | $ 70 | Mortgage Insurance | |||||
| Captures when home sells | $ 1,098 |
Xiao-Qing Lu (Shall-Ching)
Keller Williams Realty
Phone: 702-212-2288
Real Estate for the Next Generation!
MBA - Rutgers University 2002
BS - Rutgers University 1996
Real Estate Professional with MBA in Business Management, BS in Industrial Engineering. I work with first time home buyers and first time investors to begin building wealth for you and your family.
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