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Myke Triebold, GRI, LMC

Certified Military Specialist

By Myke Triebold | Agent in Destin, FL
  • Buying a Home After Bankruptcy

    Posted Under: Home Buying in Fort Walton Beach, Financing in Fort Walton Beach, Foreclosure in Fort Walton Beach  |  March 11, 2013 5:13 AM  |  202 views  |  3 comments

    Mortgage giants Fannie Mae and Freddie Mac, require defaulters to wait five years -- and have a minimum credit score of 680 and put 10% down -- before they can purchase a home again. If they don't meet that criteria the wait is seven years, at which point the foreclosure is expunged from a person's credit report.

    If defaulters show that extenuating circumstances caused the foreclosure -- such as a health issue that prevented them from working, a layoff, a divorce or other one-time event -- the wait may be reduced to three years.

    The Federal Housing Administration allows banks to issue FHA-insured loans to borrowers three years after a foreclosure or a short sale in which the borrower was in default.

    For more information, contact Myke at 850-305-6256 or MykeSaysSold@aol.com or go to www.DestinHomeRealty.com

  • March Market Statistics for Fort Walton Beach

    The median list price in March for single family homes in Fort Walton Beach is $152,450. The list prices dropped by -0.35% from the previous month.

    The price per square foot for listings in this area is $105.

    The median sale price in December for single family homes is $102,750. The sale prices dropped by -29.13% from the previous month.

    The price per square foot for sales in this area is $66.

  • What Does the FHA Require for a Loan?

    Posted Under: Home Buying in Fort Walton Beach, Financing in Fort Walton Beach, Credit Score in Fort Walton Beach  |  January 19, 2013 8:34 AM  |  167 views  |  No comments
    Under most FHA programs, the borrower is required to make a minimum downpayment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price. Additionally, the borrower must have sufficient funds to cover borrower-paid closing costs and fees at the time of settlement.

    Funds used to cover the required minimum downpayment, as well as closing costs and fees, must come from acceptable sources and must be verified and properly documented.”

    • federal income tax returns for the most recent two years, both individual and business, including all applicable schedules, for self-employed borrowers,
    • individual federal tax returns for commissioned individuals. ”

    “The relationship of total obligations to income is considered acceptable if the total mortgage payment and all recurring monthly obligations do not exceed 43% of the gross effective income.

    When the decision credit score is:
    • 580 and above: Maximum financing
    • 500-579: Maximum LTV 90.00%
    • 499 and below: Not eligible for FHA insured financing

    A transaction where one borrower has only “nontraditional credit” and the other has a decision credit score of less than 500 would also be ineligible.”

    borrowers who do not meet the bank’s minimum credit requirements (often a FICO score of 620 or higher) may be denied a loan even though they technically meet the FHA minimum credit score. Borrowers who have concerns about their credit should contact the FHA to ask for a referral to a housing counselor who can offer advice on how to improve credit scores.

    Myke Triebold 850-305-6256 MykeSaysSold@aol.com www.DestinHomeRealty.com

  • Northwest Florida Art Festival

    Posted Under: Quality of Life in Fort Walton Beach, Shopping & Local Amenities in Fort Walton Beach, Parks & Recreation in Fort Walton Beach  |  October 26, 2010 7:41 PM  |  674 views  |  No comments

    The 2010 NWFLAA Fall Festival of the Arts is scheduled for Saturday, November 13, and Sunday, November 14, 2010, in the Santa Rosa Mall in Mary Esther
  • Okaloosa Claims office is Open

    Posted Under: General Area in Fort Walton Beach  |  May 16, 2010 7:28 AM  |  324 views  |  No comments
    Claims office for BP has opened in Fort Walton Beach, Florida.  Another one is also open in Navarre for Santa Rosa County.  You can either walk in or call.
  • Oil Slick Meeting Set for Today-Tuesday

    Posted Under: Quality of Life in Fort Walton Beach  |  May 4, 2010 5:41 AM  |  260 views  |  No comments

    There will be a meeting Tuesday, May 4, at 2 p.m. at the Okaloosa County School District Administrative Building at 120 Lowery Place, SE in Fort Walton Beach with DEP, BP, the US Coast Guard, Okaloosa County, and other officials. This meeting is open to the public and being held to answer as many of your questions as possible.

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