Postcards from the Lake

Archive for the 'Mortgage News' Category

Tax Credit Ends Very Soon

Homebuyers Have until April 30 to Get a Home Under Contract

Who Qualifies?

• A tax credit of up to $8,000 is available for first-time home buyers purchasing before April 30, 2010. In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• A tax credit of up to $6,500 is available for repeat home buyers who have owned a home for five consecutive years out of the prior eight years. The repeat home buyer tax credit applies to houses sold before April 30, 2010. In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• Income limits of $125,000 for individuals and $225,000 for married couples filing jointly apply to all sales.

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Author: | April 7th, 2010
Categories: Mortgage News, Real Estate News
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Lake of the Ozarks Realtor Helps Homeowners Avoid Foreclosure

Short Sale Expert Offers Alternatives

Melody Anderson of  Lakewide Realty in Camdenton  has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

At the Lake of the Ozarks, many homes are in danger of foreclosing.  It is happening in all price ranges.  Even high-priced homes are not immune.

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Anderson with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

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Author: | September 20th, 2009
Categories: Mortgage News, Real Estate News
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Homebuyers in Camden County Choose USDA Loans

100% Financing Option Not Just for First Time Homebuyers

 

Camden County homebuyers who qualify for USDA home loans are discovering the benefits over FHA home loans or conventional mortgages.

• No Down Payment - Genuinely a 100% home loan
• 2% loan guarantee fee (rolled into mortgage) replaces costly PMI insurance.
• Can qualify without high credit score
• No Minimum Credit History Required
• No limits to seller concessions – seller is allowed to pay closing costs Read the rest of this entry »

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Author: | August 7th, 2009
Categories: Market Trends, Mortgage News
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Camdenton bank drops rates again

New Conventional Mortgage rates for Residential Real Estate

 

March 19, 2009

 

SERVICE RETAINED LOANS

 

30 YEAR RATE       4.625%                   APR 4.691%

20 YEAR RATE       4.625%                   APR 4.716%

15 YEAR RATE       4.375%                   APR 4.489%

 

 RURAL DEVELOPMENT                 4.750%                APR 4.817%

100% LOAN – 30 YR. FIXED

SELLER CAN PAY ALL OF BUYERS CLOSING COSTS

INCOME GUIDELINES AND 2.00% USDA GUARANTEE FEE APPLY

 

 

 

**NOW ACCEPTING MORTGAGE PRE-APPLICATIONS ONLY @ www.fnb-lakeozarks.com**

**Quoted rates are subject to change without notice**

**Document origination fee of $250.00 on all loans unless otherwise stated**

**Loans in excess of 80% loan value require private mortgage insurance, which will increase the

Annual Percentage Rate over the life of the loan**

 

 

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Author: | March 19th, 2009
Categories: Mortgage News
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Real Estate Mortgage Market Update: Jan 29,2009

Where are home interest rates headed at the Lake of the Ozarks?

In today’s broadcast, Andrew Conner of Mortgage Resources addresses the question of where interest rates are heading in the coming weeks and months. He also discusses the factors which determine mortgage interest rates.

[youtube]http://www.youtube.com/watch?v=l7xCwA7Iqc4[/youtube]

This segment is an authorized re-broadcast of a local radio station feature aired at the Lake of the Ozarks on News Talk 1150 KRMS AM.

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Author: | January 30th, 2009
Categories: Mortgage News
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Camdenton Mortgage Market Update: Jan 14

In this week’s radio broadcast,

Andrew Conner of Mortgage Resources talks about the possible risk of identity theft arising from the sharing of your mortgage and loan activity by the credit reporting bureaus….. and how to opt out.

[youtube]http://in.youtube.com/watch?v=G1xLFoV5VSU[/youtube]

For more information on opting-out, go to www.OptOutPrescreen.com, the official website for the Consumer Credit Reporting Industry;  or call 888-567-8688.

[ This radio broadcast originally aired on News Talk 1150 KRMS at the Lake of the Ozarks, and is re-distributed here with Andrew Conner's permission. ]

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Author: | January 14th, 2009
Categories: Mortgage News
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