Posts Tagged ‘time’
Nashville area THDA eligible properties April 2011
August 19th, 2011 | 
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Special low down payment financing for these homes and more like them in the Thompsons Station, West Nashville, Franklin, Kingston Springs parts of Nashville. These qualify for gift money and low fixed rate financing from a FHA loan with a THDA grant. Restrictions apply. Contact Tim Repass with Churchill Mortgage at 615-260-8124 for more information.
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Shaun Serafini – Lethbridge Expert Mortgage Broker – Don Cherry Ad
Here’s a great video starring our company spokesman Don Cherry
Your mortgage is the most important loan that you will need to obtain in your life. There are so many mortgage options & solutions available these days that you need to talk to an expert. Trust me to help get the best overall mortgage solution available!
My company, Dominion Lending Centres is the largest national brokerage in Canada in terms of volume with over $10 billion in mortgages funded in 2010!! We are experts and we are here for you to ensure that you get the best mortgage available.
Best of all, my mortgage services to you are completely free! I am paid by the lender once we have arranged a great mortgage for you.
Please contact me today
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Edmonton Best Mortgage Rates
www.ourfirstmortgage.ca; www.dougcooper.ca
Edmonton Mortgage Broker Doug Cooper
2611 Ellwood Drive SW. Edmonton, AB T6X 0P7
780-995-4866 – created at http://animoto.com
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Posted in best mortgage | 
Tags: buyer, credit, down, First, home, Information, mortgage, payment, time | 
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Need a Down Payment to Buy a New Home? Here are Some Ideas. (Mortgage Broker)
http://MortgageInVancouver.com
The biggest barrier to entry for most anxious first time home buyers is the down payment. Coming up with a chunk of cash all at once that you are comfortable saying good bye to for a while.
What many do not know or have a misconception of is that there are other ways to get a down payment other than your savings or chequings account.
So what are they? What other possible sources can you use to get your down payment?
Lets start from the top and I will list them in the order that banks favor the most to least as where the funds come from and how much your down payment is has a huge effect on what your are worth to a mortgage lender and whether they will even qualify you for a mortgage loan.
1. Top of the list, of course is your savings. If you have the discipline to save your money and keep it in plain sight without spending it then the banks will really like you and want to trust you with their money. This is obviously the most favorable situation. One thing to note however is that the money you are using must be in your bank account for at least 90 days. The reason for this is to make sure it isn’t money laundering or that it isn’t untaxed cash, etc. If the money has been in your account for less than 90 days then they will want documentation of some kind proving where you got the money.
2. Ann RRSP account is the next best thing to your actual savings account as it is simply a different a variation of it. You have been disciplined enough to put away money each year and now you are using it to buy a home. Banks will like this.
Some things to note however; if you are not a first time home buyer then you will get taxed on this money. Depending on what tax bracket you are in will determine if this is a good idea for you. If you are a first time home buyer then you can use up to $25,000 towards your down payment TAX FREE.
3. Pulling Equity from Another Home is also looked upon nicely because it too is another variation of saving. However, to pull out equity you must refinance that property which means you need to be able to qualify for both mortgages. This is usually not a problem. It just depends on your assets, income and current employment situation.
I can help you with both transactions of refinancing and the purchase to help this process move smoother for you and to structure it so that you are using your equity in the best way possible for your situation.
4. Gifted Down Payment. There is a lot of confusion on what exactly is a gifted down payment so I am making a video blog specifically targeted to this topic (so don’t forget to subscribe to this channel) but basically this is not where you can get money from your friend to use as a down payment. You must get it from a direct family member. DIRECT, not cousins, aunts, etc. It must be your Mother, Father, Brother, Sister, or Child. If you grew up with your aunt and uncle or some different circumstance like that then there can be some exceptions made. I will just have to approach the lender with your story.
Proper Gifted paperwork must also be filled out to use this method of down payment and I can provide this for you when the time comes. All it really needs is a signature from the Gifter saying that they are giving this money to you with no strings attached and that you will never have to pay it back.
5. The final method of obtaining a down payment is by putting it on your credit cards or lines of credit. This is solely going to depend on how much credit you have and whether you will qualify for the mortgage with this additional debt attached to you.
An example of this is if you only have a $20k credit card and you will be maxing this debt out to get your down payment then the banks will be nervous to give you money. If however, you have a $50k line of credit and pulling out $20k will be nothing near dangerous for you then this wont be so bad.
The bank does not want you to struggle for your payments. They want to make sure that your mortgage is going to get paid back and if you are tapped out financially then the chances of you defaulting on the loan becomes greater.
So hopefully this gives you a good overview of down payments; where you can get it from and how the mortgage lenders view them.
If you have any questions just give me a call, 604.313.9996 or email coss.L@mortgagecentre.com. You can also go to my website to apply online at http://leahcoss.ca or read more of my blogs at http://MortgagesInVancouver.com
Leah Coss
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Rory Talks Real Estate: Should You Lock in Your Mortgage Rate?
Rory Campbell, Sales Representative at Century 21 Heritage Group Ltd., Brokerage, tel.: 905-895-1822, cell: 905-717-0947, fax: 905-895-1990, discusses in this weeks video blog, ‘Should we lock in our mortgage rate?” A few of the questions that he explores include:
✓ ‘Should I lock in for the lowest rate?’
✓ ‘Should I lock in for the longest term?’
rory.campbell@century21.ca
http://www.rorycampbell.ca/4a_contact.php
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Posted in mortgage rates |
Tags: agents, Amortization, buy, C21, Century 21, Economist, General, good, interest, investor, lender, low interest rates, mortgage, mortgage lender, mortgage products, Newmarket, of, payment, principle, rates, real estate, Rory Campbell, Rory Talks Real Estate, rule, stable, thumb, time, to |
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Franklin THDA
A quick selection of active listings in desirable Franklin TN that are eligible for THDA financing. You will get a 4% gift toward the purchase. Call Tim Repass with Churchill Mortgage to find out the details on this great program.
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Learn About The First-Time Homebuyer’s Credit
In November, 2009, the federal government extended and expanded the popular First-Time Homebuyer’s Credit. It lets you trim your tax bill by up to $8,000. Sign a contract to buy a home before April 30, 2010 and then close on it by June 30, 2010 and you can claim the credit on your 2009 or your 2010 tax return.
For more information, visit http://turbotax.intuit.com
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Posted in first mortgage |
Tags: buyer, claim, credit, First, first-time, home, homebuyer, Homebuyers, tax, taxes, time, turbo, turbotax |
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Charles Says BofA Can Absorb Mortgage Losses Over Time
April 15 (Bloomberg) — Brian Charles, an analyst at R.W. Pressprich & Co., talks about Bank of America Corp.’s $2.05 billion first-quarter profit reported today and the impact of mortgage-related losses on earnings.
Bank of America, the largest U.S. lender by assets, reported its first profit in three quarters and settled more claims tied to faulty mortgages. Charles speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
Duration : 0:5:23
Posted in first mortgage |
Tags: Absorb, Advisers, All, Audio, Banking, Bloomberg, BofA, can, charles, company, Corporate, Earnings, English, Estimates, Experts, finance, financial, housing, Interviews, investment, Losses, market, Media, mortgage, Multimedia, Multimedia-Market, news, Over, Says, Services, Team, time, US, video, Visual |
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First Time Home Buyer Tax Credit Extension
Information on the extended version of the home buyer tax credit.
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New Jersey Mortgage Rates Risk Factors
Mortgage Rates are determined by rsik factors such as
credit score, loan to value.
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Posted in NJ Mortgage |
Tags: buyers, First, home, Jersey, mortgag, new, rates, time |
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