Las Vegas Real Estate Blog

In this article I will give you some very good tips so that you get a good idea on how you could successfully sell your house. Often, people seem to think that selling their house is easy, but this can work out differently as they will, most likely, discover. However, the most important factor is the market the seller is in. How is the current home market and mortgage market? This should be the very first question you should ask yourself. Are there many houses for sale currently? Is this an economically good time of are many people losing their jobs? See, taking a look at the economic situation, will give you an indicator of the housing market. The second good indicator is the interest rate on mortgages. If interest rates are low, there is a good chance that it isn’t a good time to sell your house because the (macro)economic situation isn’t very good. This may lead to difficulties when trying to sell your house. More information can be found on: hypotheekrente and geld lenen
Now that you have a clue about the general situation as described above, take a look at the following tips:

-Market price: how is the market price currently? Look at houses that are similar to your home, you can take a look at ads from real estate agencies but you should look for homes in a similar environment. So, looking around for houses on sale in your own neighborhood may be a very good idea.
-Improve your house: improving the condition of your home doesn’t has to cost as many money as a lot of people seem to think. It’s all about impressions when selling your home. Invest in things that improve the impression that potential buyers will have about your home. Cleaning the house, the yard, and so on.
-Step in the shoes of the potential buyer: what would they search for in a house? How can your home offer this to them?
-Don’t get desperate when you don’t succeed at selling your home immediately. It may take a while to sell your home but this is really a common thing in this market.
-Lower the price of your house if you think this will help but don’t do is too soon. Only if you have to get rid of your current house you might do this early on. But focus on getting a lot of people taking a look at your house, take care of proper advertising. Getting many (targeted) visitors, potential buyers taking a look at your house will improve your changes of selling your home dramatically.
-Choose a good real estate agency. This will help a lot. A proper real estate agency will sell your house most likely a lot quicker and easier than a regular agency does. Ask around to get an impression of the agency.

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Real estate investments are often termed as low risk investments that can potentially yield good returns. A lot of people think that real estate is an easy business where you don’t really need to do anything.

However, the truth is that real estate business does need you to put in some effort (if you really want to make profits out of it). The most important thing is to be able to uncover the real estate for sale that will yield profits.

So how do you go looking for real estate for sale?

Generally, a lot of people start looking for ‘real estate for sale’ through the internet. And why not, internet is after all the hub of all information. So, you could look for real estate for sale using the search engines on the internet.

You could also specify your requirements in search criteria on the real estate sites in order to get very specific results on real estate for sale. You can even view images and video of some of the properties thus reducing the need for personal visits for viewing. So, this is surely a good option for finding real estate for sale.

However, not everyone is tech-savvy and there are a lot of people who still take the approach of putting up an ad in the local newspapers. So look for real estate for sale in the local newspapers. In fact, there are some newspapers that are dedicated to just that i.e. real estate for sale. You could even go ahead and put up a ‘wanted’ ad in these newspapers.

Sometimes, looking up real estate for sale in old newspapers (like 1-2 months old) can help you get a good deal (in case the property owner has not been able to sale the property and has become a bit more ‘motivated’ to sell it).

MLS i.e. multiple listing service is often termed as one the best ways to look for real estate for sale. These are published by the real estate boards. If you can lay your hands on a MLS book as soon as it is out, you can really expect to get good deals. The key is to act fast.

Open houses are another good way of getting the best out of time. You can get to see dozens of ‘real estate for sale’ properties in a very short period of time. And you never know when you might come across a property that is real gold.

Investor groups are yet another rich source of real estate for sale information.

Of course, how can we forget the real estate brokers? Real estate brokers are one the most popular (and sometimes most effective) information resource for real estate for sale. Not only do they provide information about ‘real estate for sale’ but also assist in getting the deal finalized and closed.

Besides that, you can also get very good deals through public auctions, bank foreclosures, FHA and VA foreclosures and distress sales.

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If you’re reading this, chances are you are looking for a loan. Well, you’ve come to the right place. Here at VanDyk Mortgage our focus is on getting you the right loan and the right terms to fit your situation. A mortgage is a big commitment and you need an experienced mo mortgage company professional guiding you through the process, answering your questions so that you’ll know with confidence that you made the right choice.

What does our commitment to personal service mean to you? It means that we focus on you and your goals. Anyone can line up a great looking rate for you but we take the time to show you all the other “gotchas” that can overshadow any teaser rate.

Not sure if you can afford your dream house? We have many flexible mo fha loans loan programs that can put you into your new home easier than you might expect. Is the down payment a stumbling block? Some of our programs not only don’t require a down payment, but cover some of your closing costs as well.

Have questions about your credit? We can help you understand the effects of your past credit while showing you how to strengthen your present and future. Have great credit? Our lenders reward you with Great Rates.

Most any situation. Whether you are looking for a new mortgage, wanting to refinance or just interested in tapping into your current home equity, we can help you. Contact US online at http://www.vandykstl.com. We’ll show you how quick and easy it is to get started.

VanDyk Mortgage is a privately owned regional Mortgage Banker. We are headquartered in Grand Rapids, Michigan. Thomas L. Van Dyk, its President and CEO founded the company in July 1987. We are a full service Mortgage Banker approved with Fannie Mae as a Seller/Servicer, FHA, DE (direct endorsement) lender, VA approved and a Correspondent lender with several major lenders.

Throughout our history we have retained and serviced over a $350 Million loan portfolio, traded mortgage backed securities (MBS), and dealt directly with the Wall Street Investors on the secondary market. It’s this ability to deal directly with the conduits that allow us to offer such competitive products and pricing.

Our organization is founded on the belief that we are providing a service and not just a product. We don’t just originate your loan but help you avoiding the pitfalls and capitalizing on the opportunities for you.

Our loan officers will give you the personalized attention that you deserve to ensure that you find the right loan product for you. We go out of our way to make sure that you are have all of your questions answered and are satisfied with your loan. Maybe that’s why referrals are the cornerstone of our business. Call us today at (877)-282-2755 or Apply online. We look forward to the opportunity to earn your business.

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When you start looking into home loans you may find that a lot of lenders will require that you pay for mortgage insurance or mortgage insurance has to be a part of the deal. This is especially true if you get an FHA loan or any type of federally insured loan. You might wonder what this is all about since this type of mortgage insurance doesn’t actually provide you any insurance, but it’s a good deal. While you may be required to keep mortgage insurance for your loan you can also opt for your own mortgage insurance, too!

Home Loans and Mortgage Insurance

Home loans are something that a lot of people dream of having so that they can own their own home. When most of us dream of owning our own home we never fathom that we could get into a position where we are unable to pay our mortgage and run the risk of having our house foreclosed on. While no one ever thinks that this will happen to them, there are millions of people that are losing their homes every year and they never planned on it.

When you are required by home loans to keep mortgage insurance this is so that if you default on the loan the lender will be paid the principal amount due on the loan. Basically, the lender is secured from a possible default through this mortgage insurance, which is why they may have agreed to lend to you even if you have less than perfect credit or have experience bankruptcy or foreclosure in the past.

In addition to the mortgage insurance that is required for some home loans you can also buy your own mortgage insurance that will not protect the lender but will protect you. Many people are able to get this insurance for as little as $50. For $50 you can pay for insurance that will make payments on your home for you if you are laid off from a job, too ill to go to work for extended periods, or even if the primary borrower dies and their spouse cannot make the payments on the house. Wouldn’t it be nice to know that if something happened to you that your home would be paid off? mortgage insurance company

Mortgage insurance company is something that everyone should consider when they are buying a home. While no one likes to think that foreclosure could happen to them, it could. Things happen all the time that we don’t expect such as the loss of a job, an injury or illness that does not allow for us to work, divorce, and even death. These are not the things that most of us can plan for and many times it is loans and homes that are lost because of it. You can protect yourself, your home, and your family with very little each month out of pocket but it could mean saving your home later on.

Hopefully you’ll never need to call on this type of insurance coverage, but it’s better to have it and not need it than to need it and not have it. If you have a home loan you should definitely look into this type of coverage because it can be very affordable and it can help you out in a big way when you fall on hard times.home loans, mortgage insurance,

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The Fed is taking unprecedented steps to ensure florida fha company rates remain as low as possible. Only one day ago the Feds announced that they are pledging another $750 Billion dollars to continue to buy agency Mortgage Backed Securities (MBS). These MBS are exactly what the entire conforming loan market is run on. Since the mortgage meltdown last year there has been virtually no investor support to purchase these MBS from lenders that are making loans. The Fed support for these MBS is what is holding our conforming lending world together.

The comments below were made yesterday:

“To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further by purchasing up to an additional $750 billion of agency mortgage-backed securities, bringing its total purchases of these securities to up to $1.25 trillion this year, and to increase its purchases of these types of mortgage debt this year by up to $100 billion to a total of up to $200 billion.”

This means the Federal Reserve is now going to provide $1.45trillion in supply support for the mortgage market. When all is said and done the government will own roughly $3 trillion in agency mortgage backed securities (taking into account what the Fannie & Freddie already own). That is about 75% of all agency MBS in the market today!

This is all technical jargon but what it means to the average Florida resident is that mortgage rates fell IMMEDIATELY upon the announcement. Rates have flirted with the low 4’s and there were reports within the mortgage broker circle that a lender went down below 4% today. This was not able to confirmed by Five Stars Mortgage’s staff at the time of this writing.

With mortgage brokerages being cut out of the wholesale lending market by bigger banks it is difficult to get excited about the possibility of a refinance boom. By all account the Government is keeping their word and trying to keep Interest rates in Florida low enough to spur demand for real estate refinance and possibly even investment. The irrational fear of banks to lend money to anyone is clearly now standing in the way of economic recovery.

If only there was an aggressive lender willing to dive back into lending and stand shoulder to shoulder with our Federal Governments wishes to grease the wheels of the Florida and Nationwide real estate industry, we could finally put an end to this recession.

With the new refinance program for those with lowered home values set to take effect in early April all the pieces are set and the game is ready to be played. Will the Florida Banks have the courage to step up to the plate and answer the call? Only time will tell. One thing is for certain and that is that we at Five Stars Mortgage will continue to stand at the forefront of this economy recovery offering rock solid customer service and the most aggressive florida fha company programs in the industry today.

We look forward to helping as many Florida homeowners take advantage of these new developments as humanly possible. Thank you for your continued support and we look forward to the opportunity to serve your florida hard money needs!

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1. What is a mortgage modification program?
A loan modification program is an adjustment in the terms of your current mortgage loan resulting in a manageable and sustainable monthly mortgage. A loan modification process may include a lowering of the interest rate, a longer loan term, and possibly a reduction of the principle balance.

2. Why would a mortgage company be helpful and do this for me?
Your mortgage company is open to negotiating a loan modification process provided it is in the lenders best interest. In other words, the lender will accept a mortgage modification if it is more cost effective to change your mortgage loan so you can afford to continue making your mortgage payments as opposed to the cost of filing for foreclosure. Mortgage companies are swamped with very high foreclosure rates, with the on going downward trend of home values, the mortgage company would likely lose more cash filing foreclosure and attempting to sell your home than they would taking a loss on the mortgage. Also, lenders have to answer to the FDIC if they have too many non-performing assets on the books, such as foreclosed homes. For more real foreclosure information, visit http://www.loan-modification-masters.com.

3. How do I know if I will qualify for a mortgage modification?
As stated before, the bank will do what it feels is best for them. Therefore, the number one deciding factor for your lender is your ability to consistently make the new loan payment, now and in the future. You have to show the lender that according to your income and expenses, you are going to be able to consistently make the new home payment.

4. What is the best way to show to my lender that I will be able to make the modified house payment if they offer me a mortgage modification?
You will have to give the lender with an accurate list of all your monthly expenses and income. In addition you must calculate your debt ratio to show that your new housing costs (include insurance, HOA fees and taxes) do not exceed a set percentage. The exact percentage changes with each situation.

5. Will the lender let my payments I’m behind on be added into my loan modification?
Yes, part of the negotiation process is to have your missed home payments incorporated into the new mortgage and averaged out over the life of the loan in an affordable payment amount.

6. Do I have to pay all the penalties and fees my mortgage company has piled on to my loan?
First of all, you are legally entitled to a full, detailed list of all fees and penalties. Also, depending on the type of loan you have, the mortgage company may be required to forgive the penalties and fees. You need to educate yourself about your legal rights before you agree to the terms of a loan modification.

7. What happens if my principle is greater than the house is valued?
That could actually help you out. Inquire with a local realtor to get a Comprehensive Market Analysis. Widely accepted, this is a report that substantiates the true present value of your home. You can use this information to request your lender to reduce the principle you currently owe as part of your loan modification.

8. Must I be employed to get approved for a loan modification?
In most cases the answer is yes, you are required to demonstrate to your mortgage company that you will have the money required to pay the modified loan payment. Should you have an FHA or VA mortgage, there are some loan modification programs that can give you time to locate employment before you start resuming payments again. Foreclosure is stopped during this period.

9. Since I really don’t know about home loans, is it even likely for me to get a loan modification with my lender?
Mortgage Companies would rather to give you a loan modification over foreclosing provided it helps them. However even if it is in your lender’s best interest to give you a mortgage modification they don’t make it easy on you. Remember, their number one preference is that you continue paying your mortgage based on the original terms. So yes it is a possibility that you do it yourself but be prepared for much effort.

10. How can I receive help with negotiating my loan modification?
At Loan-Modification-Masters.com we provide loan modification services. There are hundreds of places offering loan modifications yet few offer the quality of service that you will find with us. If you are looking for effective foreclosure programs then Loan-Modification-Masters.com is where you should be. Come visit us now to see how we can help you in protecting your home.

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Want to buy a house? What are some of the financing options?

Fortunately for buyers, there are a variety of mortgages to choose from. It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won’t qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more than one, you may save yourself money (and worry) in the long run if you do your homework before signing on the dotted line.

* Fixed-Rate Mortgages

* Adjustable-Rate Mortgages

* The Convertible ARM

* FHA and VA Loan

Fixed Rate Mortgages

Consider a fixed rate mortgage if either of the following describes you:

* You plan on living in your new home for many years, and/or
* You are not a risk-taker and prefer the stability of knowing how much your payment will be each month.

Since most home loans are for a period of 30 years, if you want a payment you can count on for that long of a period of time, a fixed rate mortgage may be what works best for you. Once your loan amount and interest rate are calculated and locked in, a fixed rate mortgage will guarantee that you will have the same payment over the life of the loan. Making extra payments to principal will allow you to pay your loan off sooner.

This may not always be the best choice, however. If interest rates are very high at the time you take out your loan, with a fixed rate mortgage you’ll be stuck with that high interest for the life of the loan (unless you choose to refinance). Conversely, if interest rates are very low, you’ll come out the winner with interest rates that will stay low no matter how high interest rates go in the future.

The following are the advantages and disadvantages of the varying lengths and terms of fixed-rate mortgages:

15-Year Fixed-Rate:
o Pay off the loan in half the time of a 30-year loan.
o Equity builds up more quickly than in a 30-year loan.
o Payments are higher (which may be a problem if you lose your job or become unable to work).

20-Year Fixed-Rate:
o Pay off the loan in 2/3 the time of a 30-year loan.
o The overall interest paid is considerably less than for a 30-year loan.

30-Year Fixed-Rate:
o The most common choice, especially for first-time homebuyers, as it’s the easiest of the fixed-rate loans to qualify for.
o Monthly payments are lower than for 15-year and 20-year loans. This can prove especially helpful if you do not have a lot of “padding” between the amount you can afford to spend and the monthly payment for your desired property.
o More desirable if you plan on staying in the same home for years, since equity builds more slowly than for shorter-term loans.
o For income tax purposes, this term provides the maximum interest deduction.

Adjustable-Rate Mortgages (ARMs)

If you are more comfortable in taking a risk with your money or if interest rates are very high at the time you take out your loan, an adjustable-rate mortgage (ARM) may be the solution for you. You might also choose this type of loan if your planned ownership of the property is short-term or if you expect your income to increase to cover any potential rise in the interest rate.

Generally, the interest rate when you take out your loan will be lower than a fixed-rate mortgage. Please note that this is true initially, not necessarily long-term.

Since an ARM rate rises and falls depending on the prevailing interest rate, your mortgage payment will rise and fall accordingly. If your income is not sufficient to cover the highest possible payments, then this option is not for you. On the positive side, the lower initial payments will allow you to qualify for a larger loan than if you choose a fixed-rate. The downside is that your payments will increase if/when the rates go up.

Typically, ARM interest rates are tied to a specific financial index (such as Certificate of Deposit index, Treasury or T-Bill rate, Cost of Funds-Indexed Arms or COFi, or LIBOR [London Interbank Offered Rate]) and your payment will be based on the index your lender uses plus a margin, generally of two to three points. Get the formula used by your lender in writing and make sure you understand what it means.

Fortunately, the amount an ARM can increase is limited. There are “caps” on how much your lender can increase your rate, both for a period of one year and for the life of the loan. Plan ahead, and have your lender calculate what the maximum payment would be if your rate went to the highest amount allowed by the cap for your particular mortgage. If you are not confident you’ll be able to pay that amount on a monthly basis, perhaps you should reconsider this type of loan.
Convertible ARMs

If neither the fixed-rate or the adjustable-rate mortgage seems like the best option, perhaps the convertible ARM will be right for you. This alternative combines the initial advantage of an ARM with a fixed rate after a predetermined number of years. Obviously, this type of mortgage has more advantages when the initial interest rate is low and the future rate is not guaranteed.
Government Loans

Another mortgage option available to some people is a government loan, providing that you meet the qualifications for these loans.
o VA Loans: Veterans may qualify for a loan from the Veterans Administration. There is a limit on the amount you can borrow, so this option works best for those buying a lower priced home.

o FHA Loans: The Federal Housing Association offers loans to lower-income Americans. Look for the phrase “FHA approved” when looking at ads for homes.

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Qualify more home owners for real estate purchase or refinance in Las Vegas (or around the nation) with this handy FHA qualification tip.
Did you know that FHA will allow a borrower to use projected income for home loan qualifying purposes?
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BIG news for all FHA qualified borrowers. Bank owned properties, once subject to a “90 day holding rule” that prevented FHA qualified borrowers from purchasing are now able to be purchased! This is HUGE news that should create even more of a spark in the hot foreclosure market right now. Great news! Read the full article from FHA at the HUD Pressrom.

One question that arises is how lenient the banks will be with providing down payment assistance & closing costs. It will certainly benefit you to have a Realtor that knows how to write a proper REO offer utilizing FHA’s concessions so that your offer is approved.