Mortgages and Finance are important topics to Buyers, Sellers and Investors in Western New York. Find out the importance of pre-qualifying for a mortgage, credit scores and financing options including Hard Money lending. Important information about your financial future, taxes and savings.
Before you commit to a Western New York lender, here are a series of questions you should ask them. Next to selecting your Real Estate Professional, the most important thing you need to select is your Mortgage Professional. [Continue]
It is very important, especially with the credit tightening up not only in Western New York, but around the country. So if you are planning on obtaining a Mortgage to finance the purchase of your New Home in Niagara Falls, you should check it out before applying f0r a mortgage. [Continue]
The City of Niagara Falls is one of 40 communities in the United States that is eligible to share in Federal tax incentives to stimulate job growth and promote economic development. The current Niagara Falls Renewal Community consists of census tracts 202, 204, 205 206, 209 and certain areas of CT 211 based on the 2000 census data. [Continue]
What is a VA Mortgage? The Department of Veterans Affairs (VA) guarantees loans to help qualified veterans, reservists, and active-duty service members to finance their homes. Refinance or Purchase. The VA loan allows veterans 100% financing without private mortgage. A VA funding fee of 0 to 3.3% of the loan amount is paid to the [Continue]
What is Earnest Money Deposit? When you write an offer to purchase your Western New York dream home you will place an “earnest money” deposit. This deposit shows the seller that you’re serious about the offer to purchase the property. The amount of earnest money deposit varies based on the type of property being purchased. [Continue]
Fannie Mae and Freddie Mac are publicly-owned agencies overseen by the Federal Government. Fannie and Freddie have very simple and direct mission statements: To make sure that mortgage monies are available to homeowners who are looking for cost-effective home loans. Western New York homeowners do not borrow directly from these agencies. Instead, [Continue]
In today’s Real Estate market you may here the term “Short Sale” and you are probably wondering to yourself and afraid to ask “What is a Short Sale?“. Well basically a Short Sale in Real Estate is when a sale of a house in which the proceeds fall short of what the owner still owes [Continue]
Today I want to talk about a small but important piece of the short sale – the hardship letter. This is the one time you really need to look at the situation through bank’s eyes. They have taken all the risk and ultimately deciding if the transaction is going to go through. The hardship letter [Continue]
Is your house worth less then what you owe on your mortgage? If so, the term that defines this is called an underwater mortgage or some also call it upside down and you are not alone, nearly 1 in 6 homeowners find themselves in this position today. Underwater mortgages are mortgage arrangements that effectively leave the owner with more debt on [Continue]
Are you in trouble? Do you need information regarding foreclosure? Recently Freddie Mac video about Mortgage Fraud. They also has a webpage for Avoiding Mortgage Fraud. [Continue]
In today’s economic times with consumers finding it increasingly difficult to make ends meet, some may turn to short term Payday loans. Payday loan centers are popping up all over the country and they can be dangerous to your financial health. Whether you pledge your paycheck, tap your home equity or pawn valuables, you need [Continue]
Buying a home in Niagara Falls is not so difficult if you know what is going to happen along the way. Before you start looking at houses and falling in love with the perfect home, apply for your mortgage and at least get a pre-approval. This will allow us to ensure you are seeing Niagara Falls homes that you can afford. There is nothing more [Continue]
There seems to be no middle ground for people regarding Hard Money Lending. Many seem to either embrace it or avoid it like the plague. So why is there no middle ground? [Continue]
Mortgage Pre-approval Advantages Knowledge — You will know exactly how much you can afford before you start home shopping. Competitive advantage — Sellers and real estate agents will consider you a serious buyer. Speeds time to closing — Since you are preapproved you can move into your dream home much faster! Know Exactly How [Continue]
The Federal Housing Administration suspended for one year a regulation that restricted Real Estate flippers from flipping properties in under 90 days and still have that property eligible for FHA financing in February. The change in this rule will hopefully assist investment in hard hit neighborhoods with the foreclosure crisis and increase in [Continue]
The property information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
