Fannie Mae's MyCommunity Mortgage for qualified first time homebuyer allow for a down payment as low as 3% with reduced pricing adjustments as well as reduced mortgage insurance. Homebuyer must attend FTHB (First Time Home Buyer) counseling and must meet Area Median Income (AMI) limits. Check with your local lender they should be able to give you more information about the MyCommunity Mortgage program.... more
Owning a home gives you , privacy and tax deductions for your home taxes and mortgage interest. When you buy a home, you need money for a down payment and closing costs. The amount of the down payment may vary. You must be able to show your lender that you have sufficient income to make your mortgage payments as they come due. But before you can buy a house, you have to get your household budget in order.... more
Courtney.. . more and more and more people are moving to the Reno / Sparks area. It is becoming like a little Vegas or little L.A. Unfortunatly Reno and Sparks have not kept up with how many people are moving here, so it is a big, ugly mess on and off the roads. They take FOREVER to widen a street, widen a freeway, add new exits reroute and rethink roadways etc.. Over all improvement of not just roads, but EVERYTHING is just a slow, slow, slow process. Another thing is Mexicans are moving here by the truck-load, daily.There is a stabbing or shooting or dead body found every single solitary day.
It takes over 35 minutes to get from south reno to spanish springs and the morning and the 5-6 oclock traffic is a nightmare... more
The tax assessment is the determination of the market value of a piece of property including land and improvements. Assessments are usually prepared as of a specific date each year and are typically based on recent sales of comparable properties in the area. Local governments use your assessment as the basis for the annual property tax bill. The tax assessment can be lower than market value in some areas. This does not have anything to do with the listing price of the home unless, of course, the seller decides to list their home at the assessed value.... more
For any VA buyers who may not qualify for this program, there is also a little known VA Renovation Loan that is offered by a select few lenders. Feel free to reach out to me and I can direct you to someone in your area who is familiar and experienced with these loans before you waste time on numerous phone calls. We are not in all 50 states, but growing rapidly with a large presence in SW and SE currently.
My name is Matt Albert (NMLS# 658999) and I am a Doctor/Physician Loan Specialist with Citizens/Charter One Home Loans. I have been specifically working with physicians for over 12 years. We cover licensed medical physicians, residents, interns and fellows, which include MDs, DOs, along with DMDs and DDS. We provide financing of 95% up to $850,000, 89% to $1 million AND 89% to $1 million for a one time close construction Doctor Loan, all with NO PMI! We offer our Doctor Program in the following states:
Connecticut, Delaware, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont, Washington DC, West Virginia. *Additional States are possible on an exception basis, exceptions also possible in regards to loan amounts on a case by base basis*
Most lenders with a Doctor Loan program have a minimum credit score of 720 however some allow for a lower credit score with a down payment or with an exception. If I can be of any assistance please feel free to contact me regarding details of the program as we are NOT allowed to share guidelines of the program in online forums. You may do a search of my name and Doctor loan and easily find my contact information or see my profile. Good luck!... more
Hello, I would definitely speak with a loan officer before you retire. We just had this happen to a client and they had already retired, they had to get a job and have 2 months worth of pay stubs before he could close on a home. Good luck.... more
Melrod - I am local Realtor with 18 years experience in our market. I offer a program called U.S. Military on the Move. This program is offered to retired(20 year) Veterans and wounded warriors and allows them to earn cash when they close on a home. You can learn more at www.usmilitaryonthemove.com
I would be happy to provide you with referrals from Veterans that I have worked with. Please call me at 775-762-7653 or email me at email@example.com. I would be very happy to assist your parents with their lending and home buying needs and put some money in their market at the same time.... more
Doing a search for "Reno Hard Money Lenders" should give you a good list of lenders to begin contacting. Have you tried to get a conventional loan already? This will generally give you lower interest rates.... more