A Realtors main job is to sell you a home.Â Whether they are the listing agent or the buying agent the bottom line goal is the same.Â Goal = To sell you a home.Â A listing agents job is to make their listing seemÂ attractive to buyers so the buyers will at least come and look at it.Â Sometimes they use words in the description to make the house sound dramatically more appealing.Â They are not being dishonest but rather using their thesaurus to its highest degree.Â If a client says to me they saw something online and I see the phrase "handyman's dream"Â I immediatley shudder.Â A "handyman's dream" is code for house is in rough shape and needs work and most likely cannot be financed.Â Another one that is concerning for financing is "needs love" or "needs tlc.".Â Below is a video that really captures how something that sounds so nice can be so...well you will see.Â Enjoy!
Homepath is financing for Fannie Mae
foreclosures.Â You can see all their
current and upcoming foreclosures at www.homepath.comÂ Homepath financing was designed to help move
Fannie Mae foreclosures faster.Â Some of
the key benefits of Homepath are
No mortgage insurance at any level!
Owner occupied as little as 3% down!
Homepath is a great loan to be
qualified for.Â If you find a Homepath
home to purchase using Homepath financing will give you a competitive edge due
to the lack of appraisal.Â I have been doing Homepath loans since they came out and know the ins and outs of the program.Â It is very important that if you go Homepath you use a lender who has done a ton of them and is Fannie Mae Homepath direct.Â I am happy to help you:)
Call or email to find out more!
VP Mortgage Lending
3 ways to ding your credit
1) Store Cards:
Â To be blunt store cards do nothing positive for your credit.Â They have lower limits and higher interest rates.Â ItÂ may seemÂ like a great idea to get 10% off a $200 purchase but when your credit limit is $300 you look over extended and it hurts your credit. Also, these cards tend to report lates quicker than other cards.Â 2 days late on your Macys/Kohls etc...Â card can hurt your score for years to come.2) Tickets:
Â Never ignore parking tickets or any ticket of any sort.Â If you do not pay it, itÂ will hit your credit and it will hurt your credit.Â Don't be late and pay it before you argue it.Â The damage we have seen to people credit from one unpaid ticket is mind blowing.Â 100 point drops you bet.Â Guess what?Â The Library also reports to the credit bureaus and not returning a book can hit your score.
3) NEVER COSIGN:
Â If someone is not a good credit risk to get a loan you do not want to cosign for them.Â If they miss a payment it is your perfect credit that is destroyed.Â Many people say well I will make the payment if they do not.Â Unfortunately, you will not know they did not make it for up to 6 months later.Â I have seen peoples credit destroyed because they cosigned.Â Don't do it.Â If you have to, have the person pay you every month and you make sure the bill gets paid.Â Trust is great and all but when it comes to your credit and financial future be wary of trusting others.www.Readybell.com
Â Fannie Mae has created special financing for their foreclosures called HomePath.Â I compare it to a fire sale.Â With no mortgage insurance and more lenient guidelines for down payments for second homes and investors in many cases it is a hard product to beat.Â This financing is great!!
With HomePath there is no appraisal required.Â The value of the home is determined by the agreed upon sales price.Â This program comes heavily into play if the home is not in perfect condition.Â If the home is missing carpet or a stove or a toilet it is an insignificant point since an appraiser will never step in.
Check out www.homepath.com for Fannie Mae listings. If you would like to get preapproved for HomePath call today. Jennifer ReadyÂ 707-478-0637. We love doing Homepath loans:)
v NO mortgage insurance at any loan to value
v No appraisal required.Â No Condo issues
v Investors can put 15% down and 2nd homes can put 10% down
v High Balance Loan limits to 90%
v Seller contributions â€“up to 9% for ltv less than 75% and up to 6% for all other LTVâ€™s