Are You Eligible for America’s Home Buyer Solutions Program If You Live in Arizona?

November 20th, 2011

Do you live in Arizona, and are you looking to buy a home? It’s true that the market is great for buyers, because interest rates are the lowest they’ve been in recent history, and home prices are down, too. Unfortunately, that doesn’t open up the housing market to everyone, because it’s also more difficult to qualify for loans through traditional lenders. Fortunately, many homeowners can benefit from America’s Home Buyer Solutions Program if they live in Arizona.

Here are the specifics:

This doesn’t have to be your first home

Although many mortgage help programs are only open to first-time homebuyers, that’s not true with this program. With America’s Home Buyer Solutions Program, you could have been a homeowner in the past (or are currently) and be in the market now to buy another home.

Income limits are expanded depending on where you live

Depending on the county you live in, your income limits may be expanded, which makes it more likely that you are eligible to participate in the program when you otherwise may not have been.

If the home is an FHA home, it qualifies

Many mortgage help programs offer assistance for foreclosed homes, but with America’s Home Buyer Solutions Program, you can by any FHA approved home. In addition, not just single-family homes are eligible. In addition to single-family homes, other qualifying properties include duplexes, condos, townhouses, and more.

You reduce your down payment

What this program really does for you is to give you the ability to purchase a house with little to no down payment, as long as you are an Arizona resident. The program offers 2.5 of the 3.5% required for FHA loans, meaning that you just have to come up with a 1% down payment. In addition, you don’t have to come up with that 1% yourself. You can get it from your employer, a family member or friend, your union, and so on. To show you just what that 1% might mean for you, if you purchase a home that’s valued at $100,000, your down payment is just $1000.

Other things you should know

As long as the property is FHA approved, it should be eligible for America’s Home Buyer Solutions Program. Today’s interest rates are competitive, but you do need to have a FICO score of 640 or better to qualify.

In addition, the seller must participate in America’s Home Buyer Solutions Program, in that the house you want to buy must be owner occupied at the time of purchase. Sellers are encouraged to put 6% of the purchase price toward the house, in order to make the sale easier. This further lowers the costs to you as a buyer, as this 6% goes toward prepaid expenses should the seller choose to participate.

This may be your one and only chance to purchase a beautiful new home, and it won’t be around forever. What are you waiting for? Obtain an Arizona home loan today!

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What Makes Upstate NY Real Estate So Amazing?

September 16th, 2011

For one thing, Upstate NY real estate is where you will find the most breath-taking mountains in the world, the Catskills.  While that is enough for some people, forested tracts of land offer privacy and solitude, while numerous lakes abound for those who enjoy fishing and other water sports.  Gently rolling hills make for a beautiful, nostalgic setting that echoes life of a century ago when stress or anxiety were words rarely spoken.

If you are looking for the perfect location to buy or build a vacation home, Upstate NY real estate is simply amazing.  Those in the market for a small 2 acre plot on which to build a character-filled little cabin have plenty of options, while those looking for more acreage on which to build a cottage or farm house big enough for the entire family will find just as many options.  Whether you enjoy a peaceful setting in the woods atop a hill or want to be near the water so that you’re just seconds away any time the mood strikes to go fishing, Upstate New York real estate is where you can find it all.

When you live in a bustling city, sometimes it’s just good to “get back to nature”.  A natural setting that where you can experience peace and quiet sometimes soothes the soul and offers a relaxation you just cannot experience no matter how hard you try in the city.  When you have no nearby neighbors, crowds, traffic and noise you can really get away from it all and rejuvenate your spirit.  Upstate NY real estate is the perfect destination for those who just want to enjoy how life used to be for a while.

If you enjoy the great outdoors, you’re bound to fall in love with Upstate NY real estate.  With countless lakes surrounding you, there is never a shortage of new places to explore while you fish, enjoy a boat ride, canoe or kayak.  Hike the scenic trails, ski the mountains in winter months.  Or, just sit on the big country porch and enjoy some of the most amazing views that you have ever witnessed in your life.

Of course the “new” old homes are perhaps one of the biggest reasons people choose Upstate NY real estate for their vacation destination.  Claw-foot tubs, exposed wood beams crafted of salvaged wood, walk-out basements, warmly glistening wide-plank wood floors and whole-house audio make these some of the “neatest” homes in the world, the perfect combination of old and new.  Those looking for a place that is out of the ordinary where you can experience life in a whole new way should consider Catskill Farms Upstate NY real estate.

Could You Buy an Arizona Home If Only 1% Down Sealed the Deal? Now You Can!

August 17th, 2011

What if for only 1% down instead of the normal 3.5% down required on Arizona FHA loan approved properties, you could buy a home?  Would you?  Now this reality has come to pass for thousands of Arizona residents who have long hoped to be able to afford a home to call their own.  An amazing Arizona FHA Loan program, the America’s Home Buyer Solutions Program, is making it possible for those just like you to finally buy a home of your own.  If you fall in a low to moderate income range, this is just for you!

There are a few requirements to qualify, but it’s easier than ever.  If your credit score is 640 FICO and you fall within the income guidelines set for the county where you live, you’re practically there.  The seller can contribute up to 6% of the selling price to be used for prepaid expenses as well!  When you consider that fact that for one month’s rent plus one month’s deposit you could buy your own home and stop throwing your money away, this is truly incredible.

Unlike many programs that have been available in the past, you do not have to be a first-time homebuyer to qualify – and you are NOT limited to the property you can purchase, as long as it is FHA approved.  This means that you do not have to purchase a single family home, and can purchase a duplex, condo, town house or any property that houses up to 4 families.

Additionally, there are no pre-payment penalties and you never have to repay the 2.5% down payment gift provided by an IRS recognized nonprofit. You are responsible only for the 1% down, and this may even be a gift from a family member!  In this case, you could actually buy a home for zero down. This is truly the most incredible program for homebuyers to hit Arizona EVER.  Co-signers are even welcome, so there is now no excuse for not being able to buy a beautiful home of your own.

The Lending Company is a direct endorsed U.S. HUD (Housing and Urban Development) lender and is the only lender authorized to offer this program. Interest rates are competitive, loan approval guidelines flexible.  If you’ve been waiting for years and have finally given up on ever being able to buy a quality home for yourself and your family, now’s your chance!  This once-in-a-lifetime opportunity will not be around forever, so make your move now. Folks, this is the chance of a lifetime!

Phoenix Windows and Doors – and The Reasons to Consider New or Replacement Options

August 17th, 2011

Are you considering new or replacement Phoenix windows and doors?  There are many reasons you should consider quality products, whether you are in the beginning stages of constructing a new home or live in an older home that has been in the family for decades.  Not only will the appearance of your home be improved dramatically, energy costs go down and your home is more secure against vandalism or break-ins.

How Phoenix windows and doors add to the outward appearance of your home

If your home is older, you may have windows and doors that are decades old.  Styles have changed since then, and your home could look dramatically different with a fresh new style or color.  Single and double-hung, casement and awning, even bay or garden windows can give your home that neat, well-maintained appearance.

Those in the midst of construction may want a look that is a bit bold or dramatic; imagine an entire wall of windows, distinctive shapes that give your home unique appeal.  Today there are custom options available so that you can choose the material, size and shape you want to add to the style of your home.

Do new Phoenix windows and Phoenix doors really save you money?

Absolutely.  Whether you are renovating, remodeling or building a completely new home, the windows available today can help you save an incredible amount of  money on energy costs.  Today, many models offer insulated glass and cutting edge technology that keep the conditioned air inside your home, and the outside air out.  No more hot spots or cold rooms!  Your home will be comfortable throughout, without the warm or cold drafts that can make it uncomfortable.

Phoenix windows and doors make your home more secure

Safety is a top concern for many families; you don’t want your home to give easy access to a would-be thief.  Today’s windows and doors are manufactured of durable, high-strength materials that will make it much more difficult for an intruder to gain entrance in to your home.  If you have a wood entrance door that has seen better days or windows that are cracked or thin, your home isn’t as secure as it could be.

Now you can see what purchasing new Phoenix windows and doors is a smart investment for your home.  Added beauty, money savings and increased security are three very good reasons to consider buying from a company that has provided superior products and services to customers for over 20 years!

Can You Really Buy a Home With 1% Down in Arizona? Yes You Can

June 20th, 2011

If you’re one of the tens of thousands of Arizona residents who would love to buy a home but just cannot come up with a down payment, things are turning in your favor.  Now, America’s Home Buyer Solutions Program (arizona) is helping people just like you purchase a beautiful home for only 1% down!

No, you didn’t read that wrong.  The program provides a gift of 2.5% of the 3.5% required down to purchase a home.  This means that you are left with only 1% to come up with, and this can even be a gift from a union, employer or family member.  This means that you could literally buy a home with zero down.

Not only that, the seller is encouraged to contribute up to 6% of the selling price.  If the seller chooses to do so, you can use this money for closing and other pre-paid costs.  This is an incredible opportunity – and there are absolutely no strings attached.  Imagine the money you will save between the gift and having the seller possibly contribute.  It isn’t likely you will ever see a program that compares to this again in your lifetime.

There are a few stipulations that are required in order to qualify for this program.  You should have a credit score of 640 FICO, and meet income guidelines for the county you live in.  Unlike many other programs, you do not have to be a first-time homebuyer in order to qualify.

Additionally, you are not limited to single family homes!  If you want to purchase a duplex, townhouse or even a condo, it makes no difference as long as the property is an Arizona FHA approved.  You will enjoy competitive interest rates as well, and loan approval guidelines are flexible, making it easier for you to buy a quality home for your family.

The 2.5% gift offered by the program never has to be repaid as long as you remain in the home for a minimum of 5 months.  There are also no pre-payment penalties to worry about.

This incredible opportunity is being offered only through The Lending Company, which is a direct endorsed U.S. HUD lender.  There are no hidden surprises, just a once-in-a-lifetime opportunity for you to finally be able to afford a quality home.

You may never again be afforded the chance to purchase a home with so little down.  Are you going to let this pass you by?  Learn more today about this exciting opportunity.

Arizona Residents – Now It’s Easy to Qualify for a Home of Your Own!

July 6th, 2010

No down payment money for a home for your family?  No problem!  Now, there is an incredible opportunity for you to purchase a beautiful home of your own with as little as 1% down – and this can even be in the form of a gift from a family member!

The Arizona Home Buyer Solutions Gift Program is making it possible for those who are having problems coming up with a down payment to finally get a home to call their own.  Too good to be true?  Hardly.  There are absolutely no strings attached with this incredible opportunity.  The Lending Company is the only company authorized to offer this program, and is an exclusive lender chosen to underwrite these Arizona FHA loans.

Only 3.5% is required to purchase homes that qualify.  The program offers a 2.5% gift, which requires no repayment.  Since the remaining 1% can be a gift from a family member or union, that means you can purchase a home easily!  Qualifying is easy, and income limits very lenient.

What are the restrictions on this incredible program?  You must purchase a home that is currently occupied, and it must be used for your primary residence.  Your credit should meet the minimum FICO of 620.  Co-signers are allowed as well, so you can see how this program benefits you if you are having problems buying a home.

Here are a few other incredible facts about this amazing opportunity:

1.  The seller is encouraged to pay 6% of your closing costs.  This means that the seller can usually sell the home quicker.

2.  You are not limited to single family dwellings or homes that are in foreclosure.  In fact, you can purchase a condo, townhome, or 1 to 4 unit family home that qualifies.

3.  This program applies to 30 year fixed FHA loans, and there are no pre-payment penalties.

4.  Interest rates are extremely competitive.

5.  The program is designed so that families who fall in a low income bracket can now get affordable housing.

6.  Available across the entire state of Arizona!

This opportunity will not last forever, so if you desire a home of your own the time to act is now. You may never have another opportunity like this, and it’s so easy to qualify.

Now, it’s simple to get a home for your family – and there is absolutely no catch or surprises.  Are you ready to finally get the quality home you’ve been wanting for so long?  Learn more about this incredible opportunity right now; don’t wait another minute.

Homebuyers Are Taking Advantage of the Federal Housing Tax Credit This Year

November 2nd, 2009

This year is definitely the best time for homebuyers to purchase because virtually everyone is eligible for the 2009 federal housing tax credit. If you’re a first time homebuyer, there should not be anything restricting you from purchasing a home this year and qualifying for the credit. If you’ve purchase a home in the past, you still may be able to take advantage of this great opportunity.  According to the federal government, a first time homebuyer, in this instance, is anyone who hasn’t bought a home in the past three years. If your home has been in your name for over three years, then you have the opportunity at this point to sell it and buy a new one with the help of the 2009 federal housing tax credit.

The housing credit stipulates that you can only receive a credit of 10% of the cost of your house up to $8,000. That amount if the total amount you can receive for the credit regardless of how much your home may cost. If you buy a home for $250,000, you will not receive a $25,000 tax credit, but rather an $8,000 credit. At the same time, however, you may not receive that entire $8,000 if you purchase a home for a very low price. If you purchase a home for under $80,000, you will not receive the full $8,000 in tax credit. Instead you will receive 10% of the purchase price of the home. If you are buying a home for $69,500, you will receive a $6,950 tax credit on your 2009 taxes. So whether you are buying an Arizona Mansion or a small condo, the credit is available for you to use!

Tax credits are traditionally used to pay for taxes that you owe to the federal government. For example, if you purchase a home for $80,000 and are eligible are the full tax credit of $8,000, you would traditionally use that amount to pay for taxes you owe at the end of the year. If you owe $8,000, then you and the government would simply call it even at the end of the year. It is possible, however, that you will not owe as much to the government as you should receive from your tax credit. If, for example, you only owe $6,000 in taxes, what will happen to the other $2,000 from your housing credit? These questions led the government to make the 2009 federal housing tax credit refundable. This means that you can be reimbursed for the tax credit money you don’t use to pay off other taxes. So if you only owe $6,000 to the government at the end of the year and are due to receive an $8,000 house credit, they will send you a check for the remaining $2,000. If you owe nothing on your taxes at the end of the year, you will receive a check for the full $8,000. For these reasons and many more, the year 2009 is truly the best time for you and other Americans to purchase a new home.

New Doors and Windows Can Make Your Home More Beautiful

October 29th, 2009

One of the most important reasons why you should be considering new doors and windows for your home is because of the ability they have to make your home look more beautiful, inside and out. New windows and doors in Arizona are often used by designers, architects, and home remodelers when they’re trying to give a home an entirely new look. If you want an update, investing in these items will probably be the quickest way that you can create a completely new look. And because new windows and doors will make your home more beautiful, they can also increase the resale value later on if and when you decide to sell. In a real estate market like this where buyers have their pick of the litter, it’s important for you to make your home stand out above all the rest. You can achieve that goal with new windows and doors.

New windows can make your home look cleaner. It probably doesn’t surprise you that old windows can make a home look dated and dingy because of the mildew and dust that often collects in the panes. That mildew and dust can be incredibly difficult to clean, so many people don’t try. Because it is difficult to get to mildew and dust and window panes, there is typically a lot of buildup, making the frames and panes look that much older. With new panes made from a variety of dirt-resistant materials, you may never have this problem again. Vinyl is an especially popular, dirt-resistance product that many people are using to update their windows. Vinyl is specially formulated so that it will not easily harbor dirt and grime. This means that you’ll likely have a lot less cleaning to do, and whatever cleaning you have will be easier for you to accomplish.  Plus, they will make your Arizona Mansion look fabulous!

New doors have the ability to make the inside and outside of your home look completely brand new. Because there are so many doors that are involved in the building of your home, it’s natural that you should be able to choose among a number of different materials for your doors, such as traditional wood, fiberglass, metal, and recycled materials. In addition, exterior doors now typically come equipped with thermal cores inside that help keep the temperature of your house consistent and moderate, saving you money on energy bills each month.

With new doors, there are so many styles to choose from that you may not even know where to begin. This is why it’s important for you to know where you can turn for great and knowledgeable service. An experienced and reputable window and door installation company is the place for you to go to get all of your questions answered. Ask them what options you have for your home, what materials would be best for you to use in the area of the country where you live, and how you can taking advantage of the federal energy efficiency tax credit that’s going on now. You can receive a tax credit of up to 30% of the product cost of your windows and doors (not including labor costs) up to a maximum of $1,500.

Understanding Real Estate Down Payments

October 29th, 2009

It should go without saying that buying a house always involves shelling out a down payment. As most buyers know, different lenders have different rates. In the distant past, most buyers had to settle for a whopping 20%-50% rate. That was until the housing boom that featured no down payments. Both high rates and no rates however are no longer very common these days.

If you insist on looking for no down payment loans, there is, to date, only one type of home loan around. This is known as the VA loan which is a type of loan that is guaranteed by the Department of Veterans Affairs. As the definition suggests, you can only qualify if you are a veteran, on active duty or the widow of someone who died because of a past or ongoing war.

Qualified individuals enjoy a few perks with VA loans. Income and credit score requirements are low. Even those who have at least two year old bankruptcy records may borrow as long as they have been up to date with credit payments. The mandatory mortgage insurance slapped on individuals who pay below 20% down payment is also waived in VA loans.

If you don’t qualify for a VA loan, you can always try to apply for an FHA insured loan. These require only a 3.5% down payment. An FHA loan has no income bracket ceilings so even those who do not belong to the low income category can apply. This type of loan however often best serves low income individuals. Like a VA loan, an FHA loan can be obtained even by those who have bad credit scores and records of bankruptcy. In the past, loan approvals relied on extremely strict home appraisal standards. These days though, appraisal guidelines have become more lenient.

Recently, FHA insured loans have risen in popularity. According to recent reports, FHA loans now make up 25% of all home loans. Lenders obviously feel more at ease lending cash when the loan is guaranteed by the government.

If you don’t qualify for either type of government insured loans, you have no other choice but to go for a conventional loan. Lenders differ on down payment rates that they demand. The rate can depend on the kind of property you are buying and your credit worthiness. In general though, most lenders require about 10% down payment. Based on reports, about two thirds of home buyers can afford this rate or more.

In some cases, down payment rates can go over 20%. This is especially if you choose to buy during a housing slump. Some buyers however may choose to willingly pay this amount. If you own 20% of the property you want to buy, you may be able to waive the mortgage insurance that is often added to monthly payments for down payments below 20%.

If you aren’t interested in a government insured loan, you can always shop for loans with down payment requirements in between 10%-20%. This may require a lot of research or the help of a reputable agent.

When is it Time to Buy Your Own Home?

October 16th, 2009

Renting isn’t such a bad idea at all. When you don’t own the place, you can always decide to leave anytime and you don’t have to bother about long term property maintenance. Then again, renting can sometimes take the fun out of living. Privacy is often limited and you don’t have the power to decide on such things as wall color and fixture attachments.  (Article provided by Arizona Mansions, Luxury Homes, Real Estate & Condos)

If you want to be able to make decisions on your residence, there is no other option than to buy your own home. You should know though that purchase timing is crucial. There are good times and bad times to get a house. When is it the right time for you to get a place of your own?

The first point you would have to consider is real estate industry trends. Home loan rates, home prices and mortgages are never static. In fact, rates can vary within the day and from one company to another. There are however some general trends that can give you clues on when it is best to get a piece of property. Based on studies, surveys and official government reports, you can gather information on when mortgage rates and home prices are at their lowest.

Based on reports this year, the odds of getting good housing deals may be in your favor. Mortgage rates have dropped as low as 4%-%5 and foreclosures have increased, driving down house prices. This trend could change anytime soon though so you have to keep an eye on when figures start to rise.

Aside from general trends, you also have to look into financial circumstances. You have to ask yourself first if you can afford to buy your own home. This means more than just computing your possible monthly payment rates. It also means adding down payment costs, insurance, fees and taxes. On top of all these are your regular financial commitments such as monthly payments for other loans and monthly food and clothing budgets. Adding all of your expenses could surprisingly give you a figure you may not be able to afford. Needless to say, you shouldn’t get a place of your own if you don’t have a stable income.

Personal finances aren’t the only personal factor to consider. You also have to look at where you are right now in your life. If you are in a transition phase such as in the middle of a divorce or a job transfer, it may not be a good idea for you to get a new house. You are most likely uncertain at this point where you want to eventually live when the dust settles.

A transition phase that puts you in a new environment also means you may be unfamiliar with the neighborhood. It makes sense to get your bearings first and research on your new location before looking for a permanent residence.

Owning a home has and always will be part of the American dream. Don’t rush into the decision though. Before you dive into this complicated decision, you have to decide if it truly is time for you to buy a house.

Arizona Luxury homes & real estate blog