Phoenix Bank Owned, Fannie Mae properties roll out HomePath Buyer Incentives

June 25, 2011 By

Fannie Mae Rolls Out HomePath Buyer Incentives

Fantastic HomePath buyer incentives for eligible Fannie Mae home buyers has just rolled out for the summer.  The quick summary: if all conditions are met, owner occupant buyers can receive closing cost assistance of up to 3.5% of the final sales price from Fannie Mae with the latest HomePath buyer incentives.

HomePath Buyer Incentives Help HomePath Property Buyers Pay for Closing Costs

The HomePath buyer incentives will provide HomePath property buyers the ability to spend some of that hard-earned cash on decorating, fixing their place up or just bank it for future needs instead of on their closing costs.  You can search for Fannie Mae homes at www.HomePath.com or you can search the MLS here for available HomePath properties.  I’ve included a recent article from RIS Media about the HomePath buyer incentives below…

HomePath Buyer Incentives

Fannie Mae Expands HomePath Buyer Incentives

RISMEDIA, Thursday, June 16, 2011 Fannie Mae (FNMA/OTC) announced the expansion of incentives to encourage sales of HomePath REO properties to owner occupants. Now through October 31, qualified buyers and selling agents can receive financial incentives on sales of HomePath properties, which can be found at www.homepath.com. The incentives are part of Fannie Mae’s commitment to neighborhood stabilization, and are available on sales to buyers who will reside in the home as their primary residence.

Supporting homeownership and stabilizing neighborhoods are critical to helping the housing market recover, saya Ed Neill, Senior Vice President for Credit Loss Management at Fannie Mae. Our previous incentives have been effective in securing owner occupants for these properties. By encouraging homebuyers who will make these properties their long-term home, these expanded incentives will help to stabilize communities.

The expanded incentives offer qualified homebuyers up to 3.5 percent of the final sales price to put towards closing costs. The incentive must be requested in the initial offer. Eligible initial offers must be submitted after June 14, 2011 and must close by October 31, 2011. Investor sales are not eligible for the incentive.

HomePath properties offer buyers a wide selection of options, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

In addition to the HomePath buyer incentives, a $1,200 bonus is available for selling agents in eligible transactions.  The HomePath buyer incentives bonus is available if the initial offer is submitted on or after June 14, 2011 and the sale is closed by Oct. 31, 2011.

The stars are in alignment – HomePath buyer incentives are available  AND rates and prices are down – a perfect opportunity to pick up an outstanding value and the perfect home.  So get out there and find yourself a great HomePath property.

Homepath Buyer Incentives Terms and Conditions

  • Buyers and/or selling agents (the agent representing the buyer) must request the HomePath buyer incentive upon submission of initial offer.
  • Initial HomePath Buyer Incentive offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
  • Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
  • Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
  • Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
  • Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
  • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
  • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.

NOTE: this incentive will be identified on the purchase contract, and must close by October 31, 2011 to receive the incentive from Fannie Mae.

If you’re in the market for a great home, I’d encourage you to utilize one of our HomeStyle Team buyer agents who are well versed in the HomePath Buyer incentives and specialize in HomePath properties.

Filed Under: Chandler Homes, Credit, First Time Home Buyers, Gilbert Homes, Mesa homes for sale, Mesa real estate, Phoenix Bank Owned, Phoenix Housing Market, Primary Feature, Search Arizona Foreclosures, Tempe Homes Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

Starting a Family? Provide Stability with Family Budget Software.

January 31, 2011 By

Starting a family is a dream for many people, but realistically it can also be one of the most emotionally and financially draining expeditions that any couple ever has to take and while it’s worth it for many, being aware of these early challenges will give individuals a much better ability to tackle them successfully. Emotionally, people must deal with many psychological effects that come from raising kids. Not the least of these includes losing sleep, the need for patience while raising and teaching children, and many other emotional drains. While many parents are somewhat prepared, or at least aware of the emotional challenges, they aren’t as aware of the financial challenges that come with children. A whole slew of unexpected expenses comes along from healthcare to diapers, baby formula, doctor’s appointments, clothes, and many others. To get through these financial tribulations it is very important to have a solid budget to prepare for both expected and unexpected expenses. If you’re in this type of situation, you cannot afford to be without a family budget software program.

So how exactly does one create a budget? There are many ways, but the best, fastest, and easiest way to make a budget is to buy a good family budget software program. A large number of families fail to make a budget simply because they feel that the concept of budgeting is too hard, however, this could be further from the truth with good software. Creating a budget is literally as simple as entering in your projected expenses and income, and letting the software do the rest.

Typically, these applications include tools to help you visualize your income relative to your expenses. Are you earning more than you’re spending? How quickly will it be until you reach your saving goals? These are questions that are much easier to answer after you enter your data into a good application, and the results are much easier to understand than using a typical spreadsheet!

Family budget software can also sometimes help to make recommendations on how to achieve short-term or long-term financial goals in addition to pointing out potential areas of excess over-spending. Some goals that can be programmed in include: having a six month “rainy day fund”, saving for a family vacation, retirement savings, and so forth. Budgeting software helps lay out everything in crystal clear terms so that you can understand these goals in a tangible sense. Each situation is going to be different, so although it usually is helpful to pay down debt first, there might be some situations where you should save extra income instead.

You will have to deal with these on a case by case basis to know for sure, but a good family budget software will help you to not only make the right decisions on a situation by situation basis but also to think in a more budget friendly manner when looking at future situations. The particular program that we recommend will help to train you, not only in creation of the budget, but in maintaining it when financial problems arise.

Looking at the big picture, it’s easy to see why you would need to use family budget software, whether you’re just starting a family or already have children and are struggling to make ends meet. Navigating your finances successfully is difficult during the best of times, but when a family is growing and economic times are uncertain then it becomes even more important to get these numbers in order. Good decisions mean your entire family prospers, but bad decisions also hurt your entire family. Even if you are doing well, time will fly before expenses like cars, college tuitions, and weddings come up. So don’t waste time, find good family budgeting software today.

Most individuals hate the idea of preparing a household budget and usually don’t know how to get started. A financial counselor and tax accountant, Gust Lenglet, has many years of experience in this field and will give you some Free tips on how to begin. On his website he will show you just how easy it is with the right budgeting software

Filed Under: Credit, Related News Tagged With: , , , , , , , , , , , , ,

How To Look For A Good Real Estate Agent

October 23, 2010 By

To be a real estate investor one should look for a reputable real estate agent. One of the keys to a great sale is a good real estate agent. You can still process a good sale, but a real estate agent has the processes and procedures in line to have a great sale. This is the reason why you need to find an agent who is willing to work hand in hand with you for your real estate investing. This article will provide you some insights in searching for a good real estate agent.

First, be sure that you know what the term real estate agent means. A real estate agent works to close a deal so that he can get paid. Failure to close a deal will mean all the hard work leading up to that moment is all for nothing. So it is important that you find a real estate agent who is willing to put up the hours to make sure that they will be able to close and finalize the deal.

Be sure that you also know what to expect from your real estate agent. Being a driver where they drive you around from place to place until you decide which property you want is not really a part of their job description. This situation will surely tart a bad relationship between you and your real estate agent since you will be taking so much of his or her time. What you will primarily need from your agent are their contacts.

It is also important that you communicate to the agent what you are expecting from him or her. Make sure that you conduct a personal interview first before you hire anyone. Now, as soon as you know you want to hire this particular agent then you can start by laying down on the table what you expect from him or her. Setting the expectations will help your agent know what type of commitment to the job you are looking for. This will provide you a chance to see if you will be able to work together.

So there you have some good insights in searching for a good real estate agent. These tips will enable you to find your real estate agent who will be committed to working out a great deal for you.

Call us to have a team of experts help with your investing with our Dallas Foreclosures company. We will help you locate the best bargains in Dallas foreclosures.

Filed Under: Investing, Related News Tagged With: , , , , , , , ,

Types Of Investing In Real Estate

October 9, 2010 By

Ordinary people do want to invest in real estate especially when they have extra money to invest. Real estate investment is one of those things that can only increase in value as the days go by. This is true especially when you have invested in a property that is located in a prime district. People who want to do real estate investing can actually learn a few things from this article.

House flipping can be termed as purchasing a real estate property while the value is low and then selling it once the price goes up. There are people who take note of foreclosed properties and then buy them at a very low price. They do some renovation here and there and then wait for the property to increase its market value. A lot of people get a lot of profit from doing this type of investing.

We also have people who purchase a home or apartment and then have it leased out to people. We can consider this type of investment as one the most popular these days. What they do is they buy a property for a low price, develop it into a house or apartment, and then have it rented out. The rent paid by the lessee usually covers the mortgage and other fees which the owner pays, plus some profit as well.

Another real estate investment that is commonly done today is the leasing out of properties with an option to buy the property at a specified time articulated in the contract. This is leased out and then purchased at a set amount and is one good way of being able to sell a house during tough times. This type is also commonly known as the rent to own type wherein the people renting out the property can choose to buy the property after a few years.

There you have some idea of the different types of investment you can do in real estate. If you are planning to do some investing in real estate then this is a very helpful article for you in the future. Make sure that you do your research and be wise in your investment though.

If you want to find the best deals in Fort Worth see us at our Fort Worth Investment Property company. We can help you negotiate the best deals on Fort Worth foreclosures.

Filed Under: Investing, Related News Tagged With: , , , , , , , ,

Types Of Real Estate To Invest On

October 8, 2010 By

Investing in real estate means that you will be purchasing a property and then developing it. The property you purchase can be developed into something to make the real estate’s value higher. You have two options, you can either sell it off again or develop it to make money. A good way to earn money in real estate is to lease the property. Read on to know more about the types of real estate by which you can earn money.

The first type of real estate which is also very popular is the residential real estate. It is one of the most common forms of real estate investment because it involves purchasing property to be used as a primary residence. There are times wherein the buyer will not be able to meet the demand for the full price at one time, so in turn they turn to a financial institution to meet their needs. You can get loans or borrow money from financial institutions, private lenders or even banks. Against other types of real estate, residential real estate is the least risky.

The second type of real estate is the commercial real estate. Some prime examples of this type are apartments, retail space, office buildings. Hotels and other commercial properties. As compared to residential real estates, we can consider commercial real estate as very risky. Because of this, the loan provided by the financial institution to acquire the said property is lower, often falling below 60%.

And the final type of real estate is the plain lot. The lot can fall on either residential or commercial real estate, depending on what is constructed on it. As such, the values of the lot differ from place to place. Depending on how the lot will be developed, the value will be driven by the surrounding establishments. Financial institutions do not provide a loan for lot purchases, but depending on how the plan is presented, they may provide you with higher loan values.

So those are some of the basic types of real estate in which you can invest. Real estate is a good way to invest your money because the value of the land usually stays the same for a long time. You’ll also be able to have some profit without doing anything, most especially if it is located in prime land.

So when you want to invest in the Dallas area give us a call at Dallas Investment Property company. We have a large inventory of homes and Dallas foreclosures.

Filed Under: Investing, Related News Tagged With: , , , , , , , ,
Next Page»