Mortgage

Found 8 blog entries about Mortgage.

FHA loan limits have increased! The FHA loan limits went from $304,500 to $312,800 in Salt Lake County. What dose this mean to buyers and sellers? If you buy in Salt Lake County with an FHA loan purchase price (typically putting down 3.5%) this makes your ​purchase power increase from last year approximately $8,000.

Something for Sellers to keep in mind: if you list your home for $325,000-$440,000 you are only making your home available to buyers that are able to put 5% down (this price range is above the 3.5% down FHA limit). However;  if you list at $325,000 you then add a plethora of buyers to your purchasing pool by including 5% down buyers AND 3.5% down buyers. This makes your home an option for many more buyers and your ability to sell that

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It is expected that Utah's population will double within the next 35 years increasing to nearly 5.4 million residents. Most Utahn's will be living in the concentrated area of the Wasatch Front. More people means more houses and more cars with a limited area of land. When it comes to housing most Utahns feel like high density housing is the solution.

Community Aerial Photo

Tomorrow's population issues are already being addressed today and the market is reacting. We are seeing smaller lots for single family homes and more apartment complexes developing with low vacancies. There has also been a demand for more dense neighborhoods designed for walk-ability and public transit. Residents have stated that these features are essential in keeping future housing and transportation

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When you are ready to purchase a home there are some important questions that you should have answered by your lender to ensure that your mortgage is right for you. Here is a list of 10 key questions you should have answered by your lender before you buy.  

10 Questions to Ask Your Lender

1. What are the most popular mortgages you offer? Why are they so popular?

2. Which type of mortgage plan do you think would be best for me? Why?

3. Are your rates, terms, fees, and closing costs negotiable?

4. Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required? (NOTE: Private mortgage insurance is usually required if your down payment is less than 20 percent. However, most lenders will let you

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I get asked this question a lot. "What do I need to get a mortgage?" To help others who may be wondering the same thing, I've compiled this list of items you need to get a mortgage. It is important to gather this paperwork before you being looking at homes. I've seen hopeful buyers miss the house of their dreams because they weren't prepared. It takes time to gather your paperwork and get qualified. If you find the home you want first, it may be gone by the time you get everything you need for the mortgage. In today's market homes can sell quick, and those who are prepared and pre-qualified are able to act fast.

What do you Need for a Mortgage?

W-2 Forms for the past 2-3 years for every person signing on the loan (if you are self employed use

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Utah Housing Corporation launches Equity Now a program to monetize the home-buyer tax credit!

Home buyers who use a Utah Housing Corporation loan can now use the $8,000 first-time home buyer tax credit to help with their down payment and closing costs. This is done through a new monetization program called Equity Now. Under the program, home buyers will take out a second mortgage, which can be up to 6 percent of the first mortgage amount. Because the first-time home buyer tax credit funds are not available before a home purchase, this second mortgage will be used to help pay the down payment and closing costs. This second mortgage can then be paid off with the funds from the tax credit when it becomes available.

After closing, qualified buyers will

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Utah Housing Corporation launches Equity Now a program to monetize the home-buyer tax credit!

Home buyers who use a Utah Housing Corporation loan can now use the $8,000 first-time home buyer tax credit to help with their down payment and closing costs. This is done through a new monetization program called Equity Now. Under the program, home buyers will take out a second mortgage, which can be up to 6 percent of the first mortgage amount. Because the first-time home buyer tax credit funds are not available before a home purchase, this second mortgage will be used to help pay the down payment and closing costs. This second mortgage can then be paid off with the funds from the tax credit when it becomes available.

After closing, qualified buyers will

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Does the bailout help me with my mortgage?

All over the news you hear of corporations getting bailout money. But what is difficult to understand is what about the homeowner that needs a little mortgage relief.
There is a website that is being built that will help you understand if there is any help in it for you. http://www.financialstability.gov is the place to go to read more about the bailout.

Yes, that site might be a little technical or confusing. A friend of mine Ryan Wright here in Utah is also helping people save their homes. http://www.saveutahhomes.com/ You can go to his site to see options for saving your home.

If you are thinking of selling even if your home is upside down or if you are late on payments, we have higher short sale close

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Does the bailout help me with my mortgage?

All over the news you hear of corporations getting bailout money. But what is difficult to understand is what about the homeowner that needs a little mortgage relief.
There is a website that is being built that will help you understand if there is any help in it for you. http://www.financialstability.gov is the place to go to read more about the bailout.

Yes, that site might be a little technical or confusing. A friend of mine Ryan Wright here in Utah is also helping people save their homes. http://www.saveutahhomes.com/ You can go to his site to see options for saving your home.

If you are thinking of selling even if your home is upside down or if you are late on payments, we have higher short sale close

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