Home Loan BLOG

FHA and KHC (FHA loans with Kentucky Housing Corp) in combination give a great opportunity to get a 101% fixed rate loan at a dirt cheap rate!  And sometimes that will cover all the closing cost - sometimes it will cover most of the closing.  One of our last transactions closed for $670 from the buyer.  If you find a real estate brokerage that will offer you one percent back - your closing costs will probably be covered!!  What a great deal.

Money is precious.  Times are tight.  Look for a company that will offer you cash at closing.

For those of you that have had option arms or adjustables that have gone up.  Time to refinance into a fixed rate loan.  If you are behind in payments, don't just loss your home and credit - call us.  Lets discuss your options - you can short sale or do many other things and salvage some of your credit.

And, THERE IS NO COMMISSION COST TO THE SELLER WITH SHORT SALE, THE LENDER PAYS IT!!  Call for information, I am here to help.  Chuck Bahner 270 259 4663

Sometimes the best deal is purchasing a preforeclosure or defaulting property.  Everybody is talking about it.  Everybody wants a deal.  But, very very few plan it out well and that is why only a few are getting those deals over and over again.

First, go to a brokerage that is a Buyer's Agent.  Call me if you need.  Prepare for a good deal before you find it.  First, get a mortgage preapproval letter to your Agent.  Then start the search for your home.  Make sure your Agent is a member of a multiple listing service.  MLS members can search for properties using different locations and price ranges.  And, they can show properties listed by other Agents. 

Getting your preapproval letter will require your mortgage broker to work.  A credit check must be done, your inventory of debts and income must be done and the percentage of debt to income must be figured out.  This process will take up to two hours.  So, when you have a mortgage broker figure it out for you, take your business to that broker, it is just right.

Mortgage First will keep your files safe in our computer.  When the time comes for your next loan and the one after that, we are ready to serve you.  So find that deal and we can be ready to get our purchase packet in before somebody else buys it.  Call me with any questions.

Everybody likes a good deal.  Folks are looking for preforeclosures, default properties, bargains, "great deals" and "give aways".  Sometimes good deals pop up.  When deals pop up, if you are not ready to get it, somebody else will.

Most good deal foreclosed and default properties are sold within three days of hitting the market.  And the buyers were ready.

How did those buyers get ready?  By being preapproved for their loans, that is the reason most of them got those properties.  Preapprovals are free.  Preapprovals tell you what you can afford according to the lender.  Preapprovals tell the seller that you are ready and preapprovals take the property off the market before someone else gets it.

When buying a good deal, have your broker or realtor prepare a purchase packet for you that is professional and include that preapproval letter.  If you have any questions, call me.  Advice is free.  I want you to succeed.