Posts By: Reza Abadi

FHA loan Benefits

Still Working When Others Might Not The FHA Loan program continues to evolve, and total mortgage insurance costs have risen. While the increase makes these loans less advantageous than in the past, they are still a good option if your needs and situation preclude you from qualifying for a conventional loan.   Here are a…

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You Can’t Keep a Good Thing Down Ever try to hold a life preserver underwater? It’s hard, isn’t it? It can be equally hard for the Fed to keep Mortgage rates low against a rising tide of market expectation. The Winds of Change. The Fed’s actions to keep interest rates low have worked for a…

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Refinance & Reduce Your Balance Faster: Refinance and reduce your balance a lower interest rate, you pay more principal with each payment, especially in the first years of the loan. EXAMPLE: After five years of payments on a 30-year loan of $200,000 at 4% you would pay $19,706 in principle vs. $17,105 on the same…

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Home Appraisals

Many factors go into calculating value of a home. Most importantly, recently sold comparable properties must be considered. “Comps” should be similar in location, size, style, room count, condition, utility, etc.   Appraisal is part art and part science, and the latter is hard to change. Sometimes, the hardest thing for owners is to be…

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The Application: After determining that refinance will be beneficial for you, we can start the application which is very similar to the original application once you bought the house. Your loan officer will collect the initial documents which could consist of assets, income and other verification. Processing: Next, it’s getting the processing started which is…

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Understanding the HOW and WHY of Escrow Accounts Escrow accounts provide for the timely payment of taxes and insurance on your home. This prevents tax liens, loss of property and any lapse of insurance coverage. As part of your regular mortgage payment, 1/12th of the annual cost is collected. These funds are held and paid out as bills…

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If you are saving up to buy your first house or wonder if you have enough equity to trade for another, you may be relieved to know that for most buyers there are still low down payment options available. $0 Down: VA (Veterans Administration) and USDA (US Department of Agriculture) both offer a zero down…

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There are many different factors to consider when choosing the best loan program option. That is where the skills and knowledge of your loan officer will play a significant role in your decision. One of those choices is the option between FHA Home loans vs Conventional loans. Here are some pros and cons of these…

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USDA Home Loans

There are 3 main types of home loans that you are get, today we’re going to be discussing what a USDA home loan is and why it’s been a great option for home buyers looking outside of city limit and smaller towns. USDA loans offer $0 down-payment for qualifying buyers who are looking to buy…

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MHDC which stands for Missouri Housing Development Commission has made some modification on all loans reserved on March 2, 2015. MHDC has been a great option for first time home buyers for down-payment assistance and help with some of the closing cost. Prior to the new changes MHDC down-payment assistance program was offering 3.5% as…

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MHDC which is also known as, Missouri Housing Development Commission, is a first-time home buyer program, which is offered by the states. MHDC is a form of the FHA loan which does allow down-payment assistance. When considering a new home you should go by these guidelines: MHDC will allow borrowers to use 3% down-payment assistance…

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Renovation Loan

Are you considering doing a renovation? You should consider using the Renovation loan. This loan is a form of FHA financing, allowing for refinance or purchase, this loan has all that FHA has to offer, plus allowing home buyers and owners to use the future value of the home and get money for the renovation.…

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