Real Estate Financing : About HUD Homes

September 2, 2010 by admin  
Filed under Real Estate Financing

HUD homes are homes that have been acquired by a secured HFA loan, when the homeowner defaults on the loan and the house becomes the property of Housing and Urban Development. Find a real estate agent familiar with HUD housing using advice from amortgage specialist in this free video on real estate. Expert: Stetson Lowe Contact: stetsonlowe.typepad.com Bio: Stetson Lowe is a credit repair expert. Known as the “mortgage insider,” Lowe assists increasing credit scores for the most challenging of clients. Filmmaker: Paul Kersey

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Real Estate Financing – What You Need to Know About Home Mortgages Before You Commit

September 2, 2010 by admin  
Filed under Real Estate Financing

One of the first steps before you start looking for your dream home is to ask yourself what you can afford to spend on a monthly house payment. Real estate financing has its secrets and you’ll gradually learn them by continuing to research everything you can find online and offline about home mortgages, mortgage loans, commercial mortgages or investment mortgages, current interest rates; get quotes too. If you have monthly obligations such as car payments, credit card payments, personal loan payments, student loan payments, etc., make sure to take all these into account when you’re determining your bottom-line affordability figure.


A fixed-rate mortgage means the interest rate and principal payments remain the same for the life of the loan but the taxes may change. Most adjustable rate mortgage programs offer “rate cap” protection, which limits the amount the rate can be increased, both each year and over the life of the loan; all adjustable rate mortgages are amortized over 30 years. 30-year fixed-rate mortgages offer consistent monthly payments for all of the 30 years you have the mortgage; if the market is good, you can benefit from locking in a lower rate for the full term of the loan.


15-year mortgages are an ideal option if you think you can handle the higher monthly payments and if you’d like to have the loan paid off in a shorter period of time, for example, if you plan to retire. Loan programs for down payments of 20% or less require you to buy Private Mortgage Insurance (PMI). The disadvantages of a fixed-rate mortgage include a possibly higher cost; these loans are usually priced higher than an adjustable-rate mortgage.


If you’re buying a second home or property, you will need to identify the sources for your down payment, since you’ll not be selling your current house and using the proceeds, and you’ll need to expect larger monthly payments for housing or any other expenses too. Check with your CPA or accounting professional, you may be able to deduct the interest you pay on the mortgage loan and some of the financing costs of the home, such as points on your income tax return. The interest rate for an adjustable rate mortgage may be adjusted up or down at predetermined times; the monthly payments will then increase or decrease.


15-year fixed-rate mortgages mean consistent monthly payments for all 15 years that you have the mortgage; you build equity even more quickly than with a 30-year or 20-year loan, and paying less in interest, you save money in the long run. The 30-year loan is your best choice if you’re looking for a long-term stable loan; for instance, if you’re planning to stay in your house for a long time. A mortgage application can be resubmitted several times; it’s not uncommon for this to happen either, I’ve seen it many times.


Be careful when working on your real estate financing; if you make too many loan inquiries, with applications, it may look like you’re shopping for credit; this can be a glaring red flag for many lenders. Borrowers can submit information about income, assets and equity to determine how much a down payment should be, which is usually processed through an automated underwriting system. The real estate financing situation for each buyer is unique.


If you’re a first-time home-buyer it’s possible that you may qualify for a lower down payment or lower interest rate; check with mortgage brokers, online mortgage companies, your county housing department or your employer to see if they know of any programs available. Advantages of adjustable rate mortgages include: lower costs – because they are usually priced lower than fixed-rate mortgages so you can increase your buying power and lower your initial monthly payments and if the interest rates go down, you’ll have lower payments.


You have to be careful to not assume you can cut back on your expenses and stretch yourself into a house payment; you don’t want to be cutting into good, healthy eating habits by eating fast food or junk food for a house that you may not be well enough to live in for a long time; make sure to consider this when you first start out searching for the best real estate financing. You also have to feel comfortable with the reality of the amount of the monthly payment on your house or other real estate. Try not to get overwhelmed with all the different investment, commercial and home loan and mortgage choices available.

For more information on bad credit real estate financing and finding the best home or commercial loan or mortgage go to http://www.Real-Estate-Financing-Tips.com a real estate broker’s website specializing in real estate financing tips, help, quotes and resources including refinancing and creative financing

The Truth About Real Estate Financing

September 2, 2010 by admin  
Filed under Real Estate Financing

One of the first steps before you start looking for your dream house is to ask yourself what you can afford to spend on a monthly house payment. Keep in mind when financing real estate that the lenders will be able to tell you only what you MIGHT be able to afford based on your salary and level of debt including any credit card debt. As the real estate market continues to grow and new technology gains ground, widely accepted beliefs that were true just a few years ago may not be true today.


You want to work with your mortgage broker or lender to develop an individual loan or mortgage program based on your credit worthiness. Your property taxes may be deductible. Consult with your CPA or other tax advisor for current tax information. With an adjustable rate mortgage the initial interest rate is usually lower than with a fixed-rate mortgage and the monthly payment will also be lower.


If you’re on a fixed income, an adjustable rate mortgage (ARM), especially a short-term ARM, may not be your best choice. And some lenders may impose limits on how much of your down payment can come from borrowing from other sources. Real estate financing is unique for each buyer.


If you’re buying a second home or second property, you’ll need to identify the sources for your down payment, since you’ll not be selling your current house and using the proceeds. Expect a larger monthly payment for housing or other expenses too. Most adjustable rate mortgage programs do offer “rate cap” protection, which limits the amount the rate can be increased – each year and over the life of the loan. All adjustable rate mortgages are amortized over 30 years. Check with your CPA or accounting professional – you may be able to deduct the interest you pay on the mortgage loan and some of the financing costs of the home, like the points on your income tax return.


If you’re having a problem getting a loan or home mortgage consider getting a lease-option on a property. A lease-option on the property will allow you to establish a good purchase price now, and then apply a portion of the rent each month toward your down payment, building equity in the process. A mortgage application can be resubmitted several times and it’s not uncommon for this to happen either. I’ve seen it happen many times. If you have less-than-perfect or a ‘bad credit’ credit report don’t worry too much.


If you do borrow money for a down payment it must be disclosed to the lender or if any of your money for your down payment was a gift, be ready to provide proof for it. And the interest rate for an adjustable rate mortgage may be adjusted up or down at predetermined times; then the monthly payment will increase or decrease. The disadvantages of a fixed-rate mortgage include a possibly higher cost because these loans are usually priced higher than an adjustable rate mortgage.


Advantages of adjustable rate mortgages include: lower costs – because they’re usually priced lower than fixed-rate mortgages so you can increase your buying power and lower your initial monthly payments. And if the interest rates go down, you’ll have lower payments. Usually an adjustable rate mortgage is the best choice for homeowners who are purchasing their first home and plan to be in the property for only three to five years or for those people who plan to relocate in the same period of time.


Make sure to get lots of advice about real estate financing, mortgages, interest rates, mortgage rates, mortgage refinance, bad credit mortgages, etc., and think about what makes sense to you. Thinking positive about your real estate financing is important but so is being realistic. Before you finish your real estate financing read every real estate contract and loan or home mortgage contract thoroughly before you sign on the dotted line; every line is important. Look for anything that is not specific or vague. And don’t be afraid to question what you don’t understand.

For more information on bad credit real estate financing and finding the best home or commercial loan or mortgage go to http://www.Real-Estate-Financing-Tips.com a real estate broker’s website specializing in real estate financing tips, help, quotes and resources including refinancing and creative financing

What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures

September 2, 2010 by admin  
Filed under Products

Product Description
Formulas that make the difference between making profits and losing equity The only way to win the real estate investing game is by mastering the numbers. This revised and updated edition of the popular reference shows how to target the best investments in the present market. It answers all your real estate questions, and provides new discussions of capital accumulation and internal rate of return. This book’s basic formulas will help you measure cri… More >>


What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures

The Millionaire Real Estate Agent: It's Not About the Money…It's About Being the Best You Can Be!

September 2, 2010 by admin  
Filed under Products

Product Description
Anyone who wants to turn their real estate practice into a highly successful business must understand the fundamental models that drive the best real estate agents in the industry. In The Millionaire Real Estate Agent these models are revealed and explained. This book represents the culmination of decades of real estate experience, research, and consulting, with case studies from some of the top millionaire agents in the U.S. In this revolutionary handbook youll … More >>


The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be!