Read more about the FHA Loan here.
I know there are a lot of real estate schools out there but I am looking for one that will teach me the most information they can on commercial real estate in specific. It has to be a school I can do online or through correspondence. Thanks!
A friend is refinancing. He was approved for an FHA loan @ 5.75%. He is paying 2.75% points. They are including 2,500 up front PMI fees to be financed in the mortgage. In addition, he is being asked to pay $60.00/PMI. His house is worth at least 266,000. He is obtaining a 152,000 loan. Is this a good deal. The credit was less than perfect.
Our combine gross income is $120K (I make 70K). Student loan/car loans amount to about 45K total right now ($750/monthly). Her score is in the low 700′s, mine unfortunately is on the upper 500′s. I just recently paid off all outstanding debts on my credit report. Can we get a good loan?
Let’s cut right to the chase concerning Minnesota VA loan rates; they are lower now than they were one year ago! That’s right, even though we’ve seen some Minnesota VA mortgage rate rises in recent months they are still lower than last year. VA rates are about a full quarter point lower now than they were at this time in 2010. Frankly, our predictions of rate increases may have been premature.
The Minnesota housing market remains very fragile. The number of foreclosures is still extremely high here in Minnesota. According to California based Realty Trac the number of foreclosure filings in Minnesota in January was almost 2,600. This includes default notices, scheduled auctions and bank repossessions. That is a bit fewer than one year ago but the decline may be deceiving. The head of Realty Trac says it may not be a recovery in the housing market but a sign that lenders are bogged down by the number of foreclosures month after month. So what does this mean for VA loan rates?
As long as the housing market remains in such a slow state the demand for VA mortgage loans is lower. When demand remains low prices (rates) can remain low. The experts are saying they don’t see interest rates rising anytime soon. Some say it may be the end of 2012, others say it could happen this year.
If you are considering refinancing your VA loan, refinancing from a conventional loan to a VA loan (this is a very, very smart idea by the way!), or purchasing a home with a VA loan we recommend you do it sooner rather than later. In previous blogs posted here I relate the story of refinancing my own home loan when rates dropped to 10% because it was such a good deal! Keep that in perspective. We’re now in the 5% range. Remember, these are 100% financing with a VA mortgage loan. No monthly mortgage insurance premiums that plague conventional lending.
While we write about Minnesota VA loans because that’s where our family based business is headquartered this information on VA mortgage rates applies nationwide. VALoansMN.com focuses on Minnesota because we have become this state’s number one VA lender.
View full post on FHA Mortgage Blog
We have a kid who just got into college and we are thinking of what to invest in so that when he is out of college the investment can be handed over to him. We were considering Real Estate and Stocks. Which is preferable?
I’m planning on going to college (don’t know what career I’m going for) but I’m wondering if real estate is a good career to get into, if it is a financially stable career, and how hard it is to get into it.
I currently have a FHA loan now at 6.5% I’m not sure if I should refinance or not.
Arriving at a holiday destination and not finding a hotel suited to your liking or budget is a hassle which all of us would like to avoid. Apartments, villas, home stays have all become viable and popular alternatives to sterile hotels and if you are planning a Brazilian vacation, you can do no better than to rent one of the fabulous villas in Brazil.
Brazil is blessed with a tropical climate, miles of sun-drenched beaches and vast, open spaces. Imagine having your morning breakfast on your own terrace or verandah overlooking the vast ocean and golden sands! Villas in Brazil offer all this and more. Ocean backdrops, beautifully landscaped gardens and plenty of space both indoors and outdoors are only some of the more attractive features of these villas. From grandiose properties to smaller, more intimate homes, there are all types of villas for rental in Brazil.
Though villas in Brazil tend to command a high rental, it is easily offset by the wealth of facilities and conveniences offered by a villa stay. The accommodation includes well-furnished bedrooms, well-stocked kitchens and bathrooms and sometimes even beach equipment is thrown in within the rental. If you are vacationing with family, it makes more sense to rent a villa as the weekly price of a hotel room will definitely work out much higher than the villa rental. Additionally, you will be placed in a better location and can enjoy plenty of privacy.
Rio de Janeiro, Florianopolis, Natal are some of the hotspots in Brazil where villa rentals have become extremely popular. Florianopolis is surrounded by quaint fishing villages, excellent infrastructure and stunning nature reserves and makes for an ideal base for those seeking quiet and peace. Rio de Janeiro, of course, is renowned for its beaches and festivals and a villa rental during the mad rush of the Carnival is a better option than over- crowded hotel rooms. Beachfront villas are yours for the taking and beach time activities become more fun if you are just steps away from your own place. Natal boasts of year-round sunshine and a temperate climate making it a favorite holiday destination in Brazil. An ocean side vacation is best enjoyed in Natal with a stay at one of the numerous seaside villas. The villa rentals are affordable besides providing breathtaking views of the ocean.
Villas in Brazil can be hired for rent through any of the numerous travel or real-estate agents. Just be sure to go through a reputable agent and always examine all the amenities offered for the villas in detail. Avoid agents who do not provide full information or have few or no pictures of the property.
So, what are you waiting for?! Pack your bags, take the flight; Brazil is beckoning you!!
The sun-kissed beaches of Brazil have always seduced travelers and its rich and colorful culture and friendly locals have made it a prime real-estate target. Brazilian real estate may be for investment purposes or a second holiday home or to lead the life of an expatriate. The dream of living overseas amidst a new culture and in, perhaps, better weather, is becoming a reality for many foreigners and they are arriving in droves to seek property in Brazil. Prime real estate in Brazil is being snapped up in the choicest of locales.
Brazilian real estate is flourishing and from bustling cities to small, fishing villages, buyers are queuing up to grab a piece of land. Not even the remote towns are being spared and there is a flurry of activity in the real estate market in those places also. Blessed with the longest coastline in Brazil, the city of Salvador is a magnet for both international and local visitors and other cities like Natal, Fortaleza, Aracaju are also drawing their fair share of real estate seekers. One can spend weeks in each place simply going through different properties. Beach front homes, farms, countryside hotels, ranches, oceanfront condos; you name it, they have it on the market!
Every year, Brazil real estate transactions are done in thousands and most of the work is done through an estate agent. It is not enough to simply like a place and think of buying or hiring it etc and a good agent is necessary for the purpose. Before investing in real estate in Brazil, get hold of a reputable real estate agent. But, bear in mind, however reputable the agent or agency maybe, their sole mission is to ‘sell, sell, and sell! So, don’t ever reveal your desperation to buy a house and don’t ever give in to sales pressure tactics.
All this apart, an agent becomes essential for conducting the business especially if you are a foreigner interested in Brazilian real estate. Firstly, the language may itself pose a problem and a local multi-lingual agent can act as a conduit between the buyer and the seller. Secondly, if you are not a local, it may not be possible for you to fly down miles to checkout something on the proposed property. The nitty-gritty has to be taken care of and an estate agent is the best person to handle all the formalities as well as give you the right information.
There is no denying that with its strong economy, temperate climate and an abundance of natural beauty, Brazil attracts millions of visitors every year and more and more people are getting tempted to own a slice of this paradise in the form of Brazilian real estate.
My dad is a public school teacher but he became a millionare investing in real estate. His advise is to hire the “youngest and hottest real estate dame in town”. He says they get more people interested in their properties and they are harder to say no to when working through a deal. He sounds like a pig to me on this one but it has worked for him. Any one with experience on this one because I need to find a good agent.