Asifa Zia -The Realtor YOU want

                                               Fans of late-night TV will recall the infomercials of a few years ago, hawking zero-down loans. Those loans, along with loans requiring no documentation, were being handed out like candy to anyone who applied, and were largely blamed for the mortgage industry implosion. In the wake of that mess, mortgage lenders tightened standards. Lenders began demanding that homebuyers needed some skin in the game - a healthy down payment - to make them think twice about defaulting on the loan. Zero-down loans became a memory. Today, you have three choices if you're seeking a mortgage without a down payment: Navy Federal Credit Union, The U.S. Department of Agriculture (with no-down loans for very low-income borrowers who agree to live in rural areas), and the Department of Veterans Affairs (VA). "The VA loan is the best mortgage around," according to Envoy Mortgage's Nathan Raich. "Not only will you not be required

                                            The changes in FHA-backed financing have many homebuyers seeking an alternative and, although it's been around since 2006, Fannie Mae's My Community Mortgage Program's time has come. This is a conventional loan product, ideal for first-time homebuyers lacking a large down payment and with limited credit histories. With flexible underwriting and a 3 percent down payment requirement, My Community Mortgage is a lower-cost alternative to FHA in many instances. "Say you want to buy a $180,000 house and you don't have much cash for a down payment," hypothesizes George Souto, a loan officer with McCue Mortgage in New Britain, Conn. at Washington Post's website. "If you go with a 3.5 percent FHA loan, you would need to come up with $6,300. If you select Fannie's 3 percent loan, it's just $5,400," he concludes. Features Fannie Mae's program offers financing for primary residences only, but th

DAILY REAL ESTATE NEWS Al Bennati’s company BuyOwner.com may aim to help people sell homes without a professional REALTOR®, but when it came to selling his own home, he hired a professional for help. Bennati, the chief executive of BuyOwner.com, is working with a REALTOR® to sell his $3.78 million St. Petersburg beach estate in Florida. The Mediterranean Revival-style home is on 90 feet of waterfront and boasts five bedrooms, seven bathrooms, and a six-car garage. "To sell a home of this magnitude, it needs to be done by a person and a company that reaches buyers of this caliber," Bennati said in a statement. "Selling upper-end homes like mine was never the market for BuyOwner." Bennati is working with Coldwell Banker agent Donna Miller. Source: “ BuyOwner.com CEO Hires a REALTOR® ,” Herald-Tribune (May 15, 2014) Read more ForSalebyOwner.com Founder Uses Agent to Sell Home So would'nt you like to use a Realtor to Buy and Sell your property????

by Trulia: When shopping for a home, you're going to be asked at some point whether you've been "pre-approved" or whether you have mortgage "pre-approval." You're going to want to answer "yes" to these questions -- buyers who can are in a much better position to purchase a home. Why? Read on to find out. What is pre-approval? In real estate lingo, to say you have been "pre-approved" or that you have mortgage "pre-approval" means you have a commitment in writing from a lender to lend you a specific amount to buy a home under certain conditions (e.g., length of the loan and interest rate). A pre-approval holds more weight than a loan pre-qualification, which is an estimate of how much you may be able to borrow. Why is it important? It's important to have pre-approval for several reasons: It will let you know how much you can spend on a home and the size of mortgage you'll be able to obtain, it will give yo

                                     So, Warren Buffet spends more on dinner than you make in a month, and you've never required the services of an investment banker, but you have good credit and you long to own your own home. What if we told you that there is a mortgage loan program out there for people just like you and (here's the best part) it requires no down payment? Despite what you may have been hearing in the media about lenders tightening their belts and mortgage requirements becoming more stringent, the USDA offers a zero-down mortgage for folks who don't make gobs of money. History of the USDA Loan In 1944, the Department of Agriculture was reorganized and the USDA Rural Development program was born. It set about providing, among other things, rural housing loans that fell outside the jurisdiction of the farm programs handled by the Farmers Home Administration (FmHA). Today, the Rural Development agency makes direct loans, loan guarantees (similar to

Income Limits All of our First-time Homebuyer Loans have maximum income and maximum sales price / loan limits based on the geographic area in which the home is located. Limits listed in the information below apply to the following loans:  30-year Fixed Rate ,  Conventional ,  FHA ,  VA ,  Rural Development ,  FHA Plus . VHDA's First-time Homebuyer Loans are limited to borrowers who have never owned a home or who have not owned a home in the past three years, with the exception of  Federal Targeted Areas . Higher sales price/loan and income limits are available for properties located in these designated areas. Please review the  Federal Targeted Area limits  information for specific details. Effective: 8/3/2011  Printer Friendly Version Area Gross Household Income Maximum Sales Price/Loan Limits 2 or Fewer People 3 or More People New & Existing Construction Washington-Arlington-Alexandria MSA $120,900 $140,000 $450,000 Charlottesville MSA Richmond