Real Estate Blog

How to Sell Your House With Top 12 Creative Ideas

Recently a Realtor asked for some creative negotiating items a seller may offer to a buyer.  Basically, what can the seller do to sweeten the deal so the buyer is more willing and/or able to go under contract.  This Realtor, like many, realize that a purchase contract is about more than just the price.  Sometimes these ideas for sellers mentioned below will sway a buyer towards that house, but it may also help the buyer better qualify.  Either way, these ideas could help a seller and listing agent sell your house.

12 Ideas for How to sell your housesell your house

Realtors will recognize most of these ideas, but some real estate agents and sellers may not realize that one or more tips could finalize a

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8 Reasons Now is the Time to Buy a House

Are you currently renting?  Is your lease coming up for renewal?  Before you extend your lease for another year or two, why not consider exploring the possibility of buying instead of continuing to pay someone else’s mortgage?  First of all, we are not going to say everyone should buy a house.  Not everyone wants to.  But there are many advantages to homeownership.  On top of the normal benefits to homeownership, this is quite the time to buy!  A few reasons to become a homeowner now rather than later include the following.

8 Reasons to Buy Now Instead of Renting

buy a house

Look into your future. Does it include buying a home?

  1. Home prices are expected to rise
  2. Interest rates are expected to rise
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Getting a Mortgage While Separated Without Cancelled Checks

The end of a marriage is a trying time for a family and it typically doesn’t happen often in someone’s life, so it is hard to prepare for what happens or needs to happen.  In addition to the emotional toll it places on a family, a separation can also wreak havoc on a family’s finances as well.  Once you get a separation agreement completed, the language may sound pretty simple for what to do.  Maybe one person take over this debt, another take over the house, or even one spouse pay the other the equity in the house.  But then once you start trying to actually get that refinance, pay off the ex spouse, or purchase another home, it is tougher than you think.

Separation Agreement and

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Unlike paystubs on a civilian job, an enlisted service member’s paystub may show the expected end of the employment or career.  The military paystub, called a Leave & Earnings Statement (LES), states the Expiration of Term of Service.  For short, this separation date from active duty is commonly known as the ETS date.  When getting a VA loan, lenders really care about the ETS date on the LES.  So what’s the big deal?  Let’s check it out.

Why do Lenders Care About the ETS Date?ETS date less than a year for VA loans

Guidelines, Underwriters, and Lenders are always weighing risk when determining if a loan should be approved.  The higher the risk, the lower the chance of VA loan approval.  Therefore, when a lender sees that the employment term for the service member “may” end soon, that is

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If you have applied for a VA mortgage, chances are that the scenario was run through an automated system.  These days mortgage lenders use Automated Underwriting Systems (AUS) for preapprovals for about every type of loan.  Obviously, not all loans get approved.  But even if a borrower does not get an automated approval, there is still a chance of using VA manual underwriting to get loan approval.  Examples of automated underwriting systems used by lenders include:

  • Desktop Underwriter – Fannie Mae version
  • Loan Prospector – Freddie Mac
  • GUS – USDA AUS

Although DU and LP are Fannie and Freddie systems, they are both used for VA loans.  Then, lenders and investors decide if they will use DU, LP, or both for loan scenarios.  GUS, Guaranteed

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See How the USDA Guarantee Fee Stays Low for 2018 to Help Home Buyers

Homebuyers received great news about the USDA Rural Development guaranteed loan program!  In 2017, USDA drastically reduced the  guarantee or funding fee they charge upfront on USDA loans, plus lowered the annual fee also.  So the great news is that the USDA guarantee fee 2018 (also often referred to as a USDA funding fee) will remain at the low 1% financed amount!  Additionally the annual fee will remain at .35% which is much lower than FHA’s standard 30 year rate of .85%.  The USDA fiscal year stretches from October 1, 2017 – September 30, 2018, so these fees will be effective until 9/30/2018.

Search for USDA Eligible Areas Here

USDA Guarantee Fee 2018

usda guarantee fee 2018

Be a

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Gift Letter for Mortgage: Requirements for Who, What, and How Much

Buying a home is the American dream for many and there are a lot of programs available to accomplish this dream.  But what happens when the buyer needs a little extra funds in order to purchase?  That is where a gift can be very beneficial.  Although it is important to understand gift requirements such as the gift letter, who may be the donor, and verification of the funds.  Overall, there are several ways a gift may help a buyer and we will explain how the gift process works.gift letter

Reasons for a gift on a purchase:

  • Down payment
  • Cover closing costs
  • Pay off debts to qualify
  • Avoiding PMI

So as you can tell, gift funds may help a buyer get into a house in a big

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Everything You Need to Know About Purchasing Rental Property

Whether it is a vacation rental or long term rental, buying rental property could be a big step towards financial freedom.  According to the National Association of Realtors, buying a rental or investment property actually accounts for approximately 20% of purchase transactions lately.  A benefit for investors that are able to buy rentals is that there is a huge need for quality rental properties.

The amount of renters is continuing to grow.

A major reason for the large number of renters is because the prices or values of properties are rental propertyincreasing above a comfort level for first time buyers.  The millennial generation has proven to be a little slower on moving from tenants to

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Equifax Hack and How to Protect Your Credit Plus Identity

The recent Equifax hack has made 143 million people’s confidential information vulnerable.  So you may as well assume you have been hacked.  This is basically identity theft on steroids!  Credit is a double edged sword.  These days, everyone is a number and you need to have a good one.  Having credit increases hacking risks, but with knowledge there are precautions that can be used for protection.

How to Protect Your Credit & Confidential Information

Again, we are assuming that if you have credit, then your social security number and identity are at risk.  So it is important to be vigilant in the fight for your credit as well as your assets!  Follow these tips and most

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FHA Flipping Rules for Buyers and Investors

FHA Flipping Rules Explained

There are two main categories of real estate investors.  The first is a long term hold strategy.  Secondly, there is flip which is a short term sell for profit strategy.  A property flip is when investors purchase a home, renovate it, and then sell it for a profit.  Both investments are wealth building strategies using real estate as the catalyst.  But when it comes to mortgages, lenders have restrictions and rules for property flips.  These rules can potentially restrict a seller’s ability to sell quickly.  These restrictions are called FHA flipping rules.

So, property flips sound like a great thing and you would be correct.  But, the purpose of this article is to

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