Hello, If you're looking for a home with an FHA Loan or thinking about it, you'll love the recent news about how FHA reduced their premiums on MIP. But you'll need to be educated on the impacts, and they can benefit you. I've listed three examples in the videos below to help you better understand the benefits. I've also attached HUD's official announcement with the details below ( PDF ). .................................... ➡️ Old MIP vs. New MIP https://mcedge.tv/3zuwds * This video shows the differences in the MIP premiums. ..................................... ➡️ New FHA vs. Conventional Loan Comparison https://mcedge.tv/gilhdj *This video highlights how FHA Loans could benefit a larger pool of buyers. ..................................... ➡️ How The Changes Increased Buying Power https://mcedge.tv/99k8bo *This video shows the increased buying power from the decreased MIP premiums.
If you take a look over at the heat map it shows you the changes both good and bad. It's telling me that 20% down and a great credit score is now getting more penalized. Changes take effect 05/01/2023 The official changes can be found at https://singlefamily.fanniemae.com/media/9391/display Thanks for watching and we'll be sure to keep you updated on any further developments.
Hey there! Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice. The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer. In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude. For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19. The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months. ........................................... Six Months Ago vs. Today Six Months Ago: Buyers competed against 10+ offers per property. Buyers had to release all loan, inspection, and appraisal contingencies. Buyers had to convert their loans into " cash offers " to compete. Buyers had to overbid on their offers to compete. Buyers had to settle on whatever home came on the market. Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment. Today: Few Buyers, which means less competition. Buyers can write offers with and maintain their contingencies. Buyers with minimum down payments can purchase again. Buyers can get fair value or even undervalued properties with their offers. Buyers have more choices of homes than buying whatever comes to market. With help from lenders like myself, we can structure much better terms, like buying down the rate.
***Seller now offering $5,000 in Seller Concessions to buy down your interest rate. I have all the details in the video below*** Scan QR code or visit link to watch video https://www.boydloans.com/listing/7939-sharon-dr-avon-in-46123 Open-concept ranch in a mature neighborhood with no HOA plus award-winning Avon schools! Upon entry you are welcomed by brand new flooring that carries throughout the main living space. Large kitchen offers stainless steel appliances & tile backsplash! Eat in area offers plenty of space for a dining table & chairs! Large family room w/adjacent sunroom for natural light - plus brand new front & storm door! Pellet stove in sunroom & vaulted ceilings too! Large primary owner's suite w/attached bath - including double sinks & soaking tub w/ shower spout. 2 spare rooms w/ample closet space. 3 full baths - wow! HUGE backyard w/multiple storage sheds and privacy fence. Lots of new fixtures and finishes throughout! New water heater & fresh paint. ***Actual buyers numbers may very. Contact me today to get preapproved and see what you would qualify at.
Seller is offering $7500 in concessions to buy down your rate!! Scan QR code or visit link to watch video on special financing. https://www.boydloans.com/listing/9735-trevia-dr-indianapolis-in-46236. Look no further than this private estate-style home at the top of a private drive overlooking gorgeous fall foliage! 1.35 wooded acres! Grand 2-story foyer & staircase greet you! Formal living/dining spaces can convert to office/flex type spaces! The main kitchen/family room area is spacious yet cozy-perfect for everyday living! A main level bedroom + nearby full bath offer space for an in-law suite or guest qtrs. Upstairs is a huge loft, lrg bedrooms w/WICs, & a luxury primary owners suite. Owners' suite offers his/hers closets, his/hers vanities & lrg sitting area! Walk-out doors plus full windows below make the basement feel like an extension of the main living area - not drab and dark! Close to interstate, YMCA, Ft. Ben & new library! ****Actual numbers may vary based upon clients credit, down payment, and other qualifying ratios.
Seller offering $5,000 concession to buy down your rate!! Scan QR code or visit link to see special financing: https://www.boydloans.com/listing/8519-walden-trace-dr-indianapolis-in-46278 Room to grow in this amazing 4BR, 3 full and 1 half bath home with a large fenced in yard! Upon entry you'll find a generous flex space currently being used as a dining room - but could serve as an office, play room, etc - since there is a large eat-in breakfast area in the kitchen. Oversized family room with gas fireplace is open to the kitchen - great for casual living! Huge mudroom off the garage. Basement is well-appointed with its own full bath and mini-kitchenette/bar area. Upstairs is a luxurious primary bedroom with its own private bath and WIC plus there are 3 additional bedrooms all of which offer amazing closet space. No small room in the house! Close to Trader's Point shops and dining, Eagle Creek State Park & interstates! **Actual numbers may vary based upon clients credit, down payment, and other qualifying ratios.
"Nathan helped us obtain a desirable rate, took my husbands active duty services in consideration, answered all the questions we had as homebuyers, and double checked things when we were hesitant and needed reassurance. We are first time homeowners and had no idea what we were doing, with his help we now know what to look for if we ever buy another home. We will recommend him to anyone who needs a loan in Indiana."
joshua blake s
"Going above and beyond what was expected"
jimmy d. r
"Nathan went over and beyond to make this big move for our family more comfortable. He was great at taking the time to explain things and answer any questions I had. It was a great experience."
kelly w