Coldwell Banker Legacy (505)379-5849 Call/Text ** AbqDunn@gmail.com
The increase in the monthly payment on a $200,000 fixed rate loan for 30 years from 3.5% to 4.5% = a higher monthly payment of approximately $150.00
*Information provided by legacy mortgage
FHA Monthly MIP has been decreased! The monthly premium used to be 1.35% and is now only .85%. This is a huge break through after FHA has continued to increase the premiums over the last couple of years to offset their foreclosure debt. Now that they have recouped their costs from the collapse of the real estate market, they are giving the benefits back to today’s home buyers with a lower premium.
This allows for buyers, especially first time homebuyers, to qualify for more! The lowered amount equates to about $40 savings or in an increase in purchase price of about $6,000 for every $100,000 financed.
Rates are still near historical lows, home prices are still near the bottom and are on a upward trend, and credit guidelines are starting to loosen again. People are asking when is the time to buy and NOW is the answer for all the above mentioned.
Info provided to me by Aaron Thompson Legacy Mortgage
Get a “Second Opinion,” and get a $100 Cash Gift Card from Legacy Mortgage (no obligation).
If you have been pre-approved or pre-qualified for a mortgage on your next home, are you certain you are getting the best deal?
Mortgage lending is very different today that it has been in years past. Find out for sure if the loan program you are being offered is the best for you. Call Rachel Donovan (License#368845) at Legacy Mortgage (License #249314) today, 505-328-4792 to see if we might be able to offer you a program that will work better to help you reach your financial goals.
If you would like more info please fill out this form and we will get in touch with you shortly. In the "comments below please enter the subject you want more info on. Thanks for your time!
Are there still 1st time home buyer programs?…… YES!
Can you really buy a home with only $500.00 down?……..YES!!
Sounds like a car dealer add doesn’t it?… Its not
There is an agency in Albuquerque called MFA or Mortgage Finance Authority. They offer a few different programs but one of them loans you an amount up to $8000.00 that can be used for both down payment and closing costs and you pay that loan back over the term of 30 years as with your primary mortgage. You can prepay both loans if you like with no penalty. Gone are the times that the seller could pay your down payment for you but this program is helping a lot of people become homeowners when they wouldn’t be able to be otherwise. With this program you can buy a home for $500.00 of your own money when being the loan you qualify for is one offered by FHA that allows a government agency to help you with the down payment and closing costs.
Legacy Mortgage has been the top MFA lender for 4 consecutive years and is happy to help you with yours!!
If you would like more info please fill out this form and we will get in touch with you shortly. In the "comments below please enter the subject you want more info on. Thanks for your time!
Have you heard the great news?! The City of Albuquerque would like to help you get into a new home! In 2009 The City of Albuquerque was granted Federal Funds in an effort to help rehabilitate foreclosed properties and make them available to income eligible families.
The goal of the NSP program is to help moderate to low income families realize their dreams of owning a home and at the same time they are helping neighborhoods bring life back into their community!
Now some may be asking, is this too good to be true? The answer is NO! With very few requirements you may be eligible for a grant up to $4,000.00 to go towards your closing costs!
And that’s not even the best part!! With the NSP program you can qualify for a zero percent second mortgage loan (no monthly payments!) up to $50,000.00!! Which means… drum roll please…… That you can purchase a home for $150,000.00 and only make payments on $100,000.00!!
Wait, I know your next question, what happens to the extra $50,000.00, does it magically disappear? No, it doesn’t, BUT you don’t even have to think about the no interest second mortgage unless you sell your home! Even then you only pay back the $50,000.00, NO INTEREST!
Talk to your Real Estate Agent today about teaming up with The Mike Roberts Mortgage Team and see you if you qualify for this great opportunity!
Written by Amalia Salazar with The Mike Roberts Mortgage Team at People’s Bank
Mike Roberts mroberts@bankingunusual.com www.MikeRobertsMTG.com (505) 463-7912
Feel free to request more info below or scroll all the way down and post your comments about this. we would love to hear from you!!
If you would like more info please fill out this form and we will get in touch with you shortly. In the "comments below please enter the subject you want more info on. Thanks for your time!
Here is a chart of what the new VA funding fees will be. Let me know if you have any questions!
Coldwell Banker Legacy
(505) 379-5849 call or text!
Your go-to real estate guru since 2002! With over two decades of experience and a shelf full of customer service awards, he’s ready to tackle all your buying and selling needs. Whether you’re on the hunt for your dream home or looking to sell for top dollar, Michael has you covered. Plus, he’s always eager to share his insights on the real estate market. Let’s make your property journey not just successful, but also enjoyable!
Abqdunn@gmail.com
www.ABQDUNN.com
8200 Carmel NE Ste. 103A
Albuquerque, NM 87122