Monday, July 7, 2014

Can I buy a home without a down payment?

Is there a way to buy a house with no down payment?

 

We now have a loan program that will allow all of the down payment to be paid out of gift funds.  The borrower can use as much or as little of their own funds as they choose. The rest of the funds can come from gifts.  The program requires zero funds to come from the borrower.  This is a conventional loan program and a lender paid MI option is available. 

 

Specific rules apply when accepting a gift for the down payment.  Be sure to call Max for the details about how to use gift funds for the down payment. 

 

Our Zero Down Gift Flyer is available on our website at:  http://realestatebrokerconnection.com/sales-materials/

Be sure to look at the other flyers that are available to help you increase your home sales.

Please call Max today, to get all of the details about how this can help your home buyers.

Sincerely,

Max Nasab

Direct Phone:  206-719-2694

Fax:                   425-449-4909

12207 NE 8th Street, Bellevue, WA 98005

maxn@mortgagemoneystore.com

www.mortgagemoneystore.com

NMLS# 112686

 

 

 

 

Thursday, July 3, 2014

Think about home improvements when buying a new home

Do you have a borrower that wants to buy a fixer upper home?

 

A rehab loan is great for your buyer because it is easier to get than a construction loan and is more stable than a HELOC. Buy the house and pay for the repairs all in one loan with one low easy payment and a one-time close.  Funds for repairs are held at escrow.

 

Eligible properties are stick built homes, condos, modular – but not manufactured.

 

This program is NOT for the home handyman.  The work must be done be a licensed contractor and must be an arm’s length transaction.  

 

Ø Primary Residence or fix up for rental house – NO Flipping

Ø House must have been previously occupied

Ø Any type of improvements

Ø Remodel kitchen and baths

Ø Make the house energy efficient

Ø Make a house disable friendly

Ø Add a deck

Ø Add a garage

Ø Repairs can be up to 50% of finished appraised value

Ø Have six months to complete the work

Ø Can be a refinance for current residence

Ø Up to six draws for completed work

Ø Close in 60 days

 

A flyer detailing these guidelines is available at our website at: http://realestatebrokerconnection.com/sales-materials/

Print this flyer and give to your buyers who might be interested. 

 

To find out how easy it is to get a rehab loan for your buyer, call

 

Max Nasab

Mortgage Consultant

206-719-2694

maxn@mortgagemoneystore.com

www.mortgagemoneystore.com

NMLS ID# 112686

 

Can You Squeeze an Outdoor Retreat onto a Small Lot?

Posted in Curb Appeal, by Melissa Tracey on June 30, 2014

 

By Melissa Dittmann Tracey, REALTOR® Magazine

Builders increasingly are squeezing large, luxurious homes on smaller lots, at a time when home owners and home buyers say they crave outdoor retreats.

While buyers say they want outdoor space, they also are motivated by the perk of less lawn maintenance, which smaller lots offer. Also, settling for a smaller lot size may mean more space that can be dedicated to the inside of a home or getting a new home in an urban or historic area.

Whatever the reason, home owners are finding they can still make use of their small lot size and carve out plenty of luxury for dining, relaxing, or creating an oasis.

Take a look at these photos pulled from the remodeling website Houzz.com to get inspiration of how small lots can be used in big ways.

 

 

To see the amazing pictures with this article, go to: http://styledstagedsold.blogs.realtor.org/2014/06/30/can-you-squeeze-an-outdoor-sanctuary-on-a-small-lot/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+StyledStagedSold+%28Styled%2C+Staged+%26+Sold%3A+Entries%29

Wednesday, July 2, 2014

Can FHA help you sell more homes?

FHA has always been a low down payment program to help people buy a home.  Today FHA loans have risen from 3% to 40% of all home loans closed.  Many people can get a home loan with FHA that could not qualify with conventional lenders.  There are many people that can get a home loan now that could not get them before.  See below for some of the new FHA underwriting guidelines.

 

  • 550 minimum FICO to 90% - conforming and high balance loan amounts
  • FHA can now finance 3-4 units
  • Non-Owner Occupied 1-4 units
  • Non-traditional credit available
  • No minimum trade lines
  • Mortgage history overlay removed
  • Modification overlay removed
  • Credit qualifying loan programs available
  • Condominium property types may be eligible
  • Manufactured housing property types may be eligible
  • Manual underwrite.  If it make sense, we can do it

 

With manual underwriting, if the buyers story makes sense, they will be able to get a loan.  You really need to talk with Max if you have talked to anyone in the last 6 months that told you they could not get financing.  FHA has changed and they may be able to get the financing your buyers need. 

 

 

 

For more information

Call Max Nasab today!

206-719-2694

maxn@mortgagemoneystore.com

 

Tuesday, July 1, 2014

Choosing the Right House for you

It will never be too wise to get the very first house you’ve seen, when you are looking for a house. You can have as many options especially if you want a house around Eastside of Washington. You can go to different areas in the eastside and find the best home for you. You can see many homes for sale Eastside WA can offer. It is up to you to choose for the right one that is perfect for you and your family.

When you try to find a house, there are several things that you need to consider. Not all houses are built on the same materials, design and location. You need to review your preferences before deciding on the things you want for your house. You can list important things that a house should have. This will help you decide easier on which type of house to have. Every house has different characteristics and you would want to review on them. Here are several important points that you can review and pick your choices for a house that is suitable for your taste.

1. Decide on what type of neighborhood you want to be in. Houses are built in different locations and not all people want to live nearby busy roads. Many home buyers would want to own a corner lot as these are often larger portions and are very accessible. Although houses in this location are not that child-friendly since there is a wider point of exit for children. To improve the safety and security, a fence may be used. If you have children and would want to keep the safety of your children from busy streets, you can choose a cul de sac. These are often found in dead ends, so there really it would be impossible for vehicles to pass.

2. Look into the home type. Homes can be single detached, duplex type or building type. Some families choose to have single storey houses but with wide area. Some others want to have multistory houses. Multistory houses are really functional even with a smaller land area, where the spaces are maximized to be utilized as a significant part of the house. Another type of house can be appealing to some families. A house with split levels is often chosen by families who want to get a bigger house but does not mind too much of unused spaces.

3. Consider the Interior Arrangement. Specify how many rooms you want to have in a house and how many bathrooms you need it to have. The number of rooms that suits you will depend highly on the size of your family and if you want an extra room to be used a guest room. Some people who are looking for houses want it to have a specific area for entertainment and study. Although these are just additional parts of a house, it is still important to some individuals.

4. Choose the types of Garage. Also consider looking into the type of garage you want to have. Garages can be attached or detached. Also, look for houses with garages that can accommodate all vehicles that you own. 

5. Select Houses with Special Amenities. If you don’t mind too much about the price of the house you are going to buy, you can look for houses with additional features. A pool would b a great addition to the beautiful house. If you want, you can choose a house with fireplaces. There are also houses that are sold fully furnished. If you want to skip buying the appliances and furniture for your home, look for full furnished houses. Also consider the plumbing, electrical, heating and cooling units of the house you are going to purchase.

Of course, you cannot expect all homes for sale Eastside WA offers to be perfect. Especially for houses that are already built, there will always be an offside. Despite this, you can always make use of your creativity to make a house look better or at least according to your preferences. If you cannot do the changes on your own, there are professionals who will be able to help you with your concerns. You can also get a real estate agent to help you choose the right home for you.

Experience is Important

Experience is important in everything we do.  Experience in real estate makes for smoother closings.  See below for what our brokers are experiencing at Homes & Equity Real Estate Group:

 

I have been in the Real Estate industry since 1976.  In that 38 years, in four states,

New Orleans, LA, Atlanta, GA, Durango, CO and now Seattle, WA.  I relocated here for 20 years ago.

I can truly say that I have experienced many markets, company cultures and Brokerage relationships in my career.  Without a doubt, with no reservation Max Nasab and Renee have been a pleasure to work with.

 

Totally respect, great communication, and integrity have made it a great place to thrive and be successful.

 

Michelle Ebeling, Broker

SRES

Senior Real Estate Specialist

Kirkland Homes.Com Inc

Voted Best in clients satisfaction

Seattle Magazine

 

 

Your only costs with Homes & Equity Real Estate Group is $59 per month and a $195 per transaction fee.  With Homes & Equity Real Estate Group you can compete on a whole new level.  

Although we are a discount broker, we do provide a lot of services to our Brokers.  For our listings we provide:

  • Yard signs
  • Lock boxes
  • Free flyers
  • A Boards for your open houses. 

For your business, we provide: 

  • Free business cards
  • Free web site with IDX feed to the MLS
  • Free continuing education
  • Free brainstorming sessions to increase your business
  • A Managing Broker that is willing to talk with you

You can learn more at our website at: http://www.joinhomesandequity.com/

Call Max Nasab at: 206-719-2694

Pending home sales spike in May

by Ryan Smith | Jul 01, 2014

 

Pending home sales were up sharply in May, according to data released by the National Association of Realtors.

The NAR’s Pending Home Sales Index rose 6.1% in May to a level of 103.9, the largest month-over-month increase since April of 2010. That’s still 5.2% below the index’s May 2013 reading of 109.6, however.

NAR chief economist Lawrence Yun expects home sales to improve further in the second half of the year.

“Sales should exceed an annual pace of 5 million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation,” Yun said. “However, second-half sales growth won’t be enough to compensate for the sluggish first quarter and will likely fall below last year’s total.”

Yun also said that access to credit and affordability were still problems for first-time buyers, who accounted for only 27% of existing home sales last month.

“The flourishing stock market the last few years has propelled sales in the higher price brackets, while sales for homes under $250,000 are 10% behind last year’s pace,” Yun said. “Meanwhile, apartment rents are expected to rise 8% cumulatively over the next two years because of tight availability. Solid income growth and a slight easing in underwriting standards are needed to encourage first-time buyer participation, especially as renting becomes less affordable.”