Found 386 entries about Real Estate.
Some good news to report – effective this Friday June 18th 2010 Bernalillo County is no longer considered a distressed market. Although credit score requirements still remain starting at 680, the CLTV for owner occupied transactions now are back up to 95...%. More importantly, PMI is now again available for 2nd homes at 90% LTV.
Call me to find out more...505-350-8184
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The most common type of loan today is an federally backed loan know as FHA. The bill presented will most likely affect you the borrower because chances are if you are going to buy a home this will be the loan for you. For many reasons its the best. Low down payment, credit guidelines not as strict, low mortgage insurance and so on.
This bill has passed the house and will likely become law as part of the Financial Regulation Overhaul Package being debated in Congress. A few highlights:Â
1) FHA’s annual insurance premium was .55% will now be raised to 1.55%. This is the CAP, not where it’s going to be. That being said…Â
2) The annual mortgage insurance premium will rise to .85% for loans up to and including 95% LTV and to .90% for loans above 95%. Most…
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Click on the flyer below for property details and map.
http://www.nmwelcomehome.com/idx/single-family/671842/details.html
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I recently sat down with Danielle Duran from Wells Fargo Home Mortgage here in Albuquerque NM who gave me the requirements for this loan program...I was so impressed and excited to tell you all about it.  Below is a general outline of the program. You still must qualify through income, credit etc but can be a great option to add  new appliances to a foreclosure home or new carpet, paint and roll it all into the loan.Â
The Purchase and Renovate Wells Fargo program provides financing that enables you to immediately turn the house you just bought into the home always wanted. Add a bath, cook up a new kicthen, repair, renovate or extend - all with a single loan at attractive first mortgage rates. As long as you qualify the loan can be used…
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Lender friend of mine Roger Gettler with First Community Mortgage provided this update to me and I thought it was worth passing on to you.
The booster second mortgage problem, which provides additional funds to the borrower to cover closing costs, has had a rate increase from 5.75% to 6.00%.This is also a permanent increase so don’t expect the rate on the booster to drop anytime soon. It shouldn’t affect your borrower’s ability to qualify, primarily because the maximum loan amount for the booster is $8000. As an example, one borrower of mine had his payment increase monthly by $1.20.
After the tax credit is gone MFA may be a great option for those seeking downpayment and/or closing cost assistance. Call me to find out more. Carlos Martinez 505-350-8184
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New Mexico Mortgage Finance Authority also known as MFA is a home buyer assistance program. Without getting into to much detail the program assist low to moderate income buyers with housing. There are income limits but is much more flexible than traditional type of financing. It is possible to get a loan to cover your down payment and closing cost. Although flexible MFA made the below change.Â
Sole and Separate-poor credit for spouse. A sole and separate is to disclaim or relinquish his or her right, title and interest to the property. This establishes that it is the desire of both spouses that title to the property be granted to one spouse as that spouse’s sole and separate property. For example: Lee Buyer, a married man, as his sole and separate…
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Being a real estate professional in today's market requires the use of technology to give great customer service. For about a year I have used a secure online system called Docusign to allow my clients to sign documents online quickly and easily. Our biggest road block was that FHA did not allow e-signatures for official documents...
Well today that changed! With the issuance of the mortgagee letter we can now make it convenient for all clients to sign online. This is a huge time saver for everyone and my clients love it. If you would like to know how signing a document online works give me a call. I'd love to show you how!
Carlos Martinez
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| This is a screamin deal listed at $114,900 1405 Sq Ft. 3 Bedroom, 2 Bath 2 Car Garage. Turn Key home for sale located in the Ladera area of the Northwest Heights Albuquerque.Very good condition with new carpet and appears to have new paint. Bank owned home.Call me today. |
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Search Homes now at www.NMWelcomeHome.com |
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To schedule a showing just call me at 505-350-8184 or Email Me |
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Property Flyer and DetailsBank Owned property that is in excellent condition. This is a DR Horton built home that is move in ready. Open floor plan, kitchen with island, office with book shelves, tile roof and a large master suite. Situated on a dead end street so no thru traffice. Great location easy to hop on Paseo Del Norte to get into Albuquerque or Rio Rancho. |
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The Federal Homebuyer Tax Credit is available to buyers who have not owned a principal residence in the last three years (“New Buyers”) and to buyers who have owned and lived in their principal residence for 5 consecutive years out of the last 8 years (“Repeat Buyers”).
The maximum credit amount is $8,000 for New Buyers and $6,500 for Repeat Buyers.
The tax credit is available for homes closed after November 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the credit provided the closing occurs prior to July 1, 2010.
Homes with a purchase price of up to $800,000 qualify. The home must be used as a principal…
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