Archive for tag First time home buyers
February 10, 2010 at 08:21 PM
Effective March 1, 2010 the Wheda loan program will be available for first time home buyers in Wisconsin. Some facts about the new program are:
You must be a first time home buyer
The loan will be a 30 year fixed rate loan
The loan will have a 45 day rate lock
The loans are available for existing single family and 2 family homes over 5 years old
The maximum LTV:
- To 97% minimum credit score 660
- Over 97% minimum credit score 680
The maximum debt ratio is 45%
Minimum borrower contribution $1000. 3% borrower funds for 2 unit properties
Home Buyer Education is required
No Mortgage Insurance
Posted by:
Barbara Bednarski
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July 06, 2009 at 08:02 PM
For those of you who are still on the fence when it comes to buying a house this year, time is ticking away! The $8,000 tax credit for first time buyers is only good if the buyer is in their new home by November 30th. That means you have roughly 100 days left to find the house and write the offer! Remember, once you get an offer accepted it will take at least 30 days to get it to a closing. Lately it’s taking closer to 45 days, and that’s if nothing comes up in the meantime to delay things further. If you haven’t written on something by the middle of October, there’s a good chance the $8,000 tax credit could pass you by! Interest rates are still great, prices are down, and there is good inventory out there. But it’s going fast. Get in touch with me today for help finding your new home, ltremaine@shorewest.com. What are you waiting for?
Posted by:
Lisa Tremaine
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May 28, 2009 at 05:58 PM
Everyone wants a deal, especially when it comes to making one of the biggest purchases most people make. Now is the time to get it! There are more first time buyers out there flooding the market now than we’ve seen in several years. On top of that, there are more move up buyers out there wanting to take advantage of great opportunities.
As a seller, you need to take a good hard look at what your competition is. What you see might not be your dream come true, but it is truthful, and to get ahead in today’s market, you not only need to be competitive, you have to win! Picture the price of your home hanging in the air. Knowing that prices have been falling, how are you going to catch them if you’re above them? No matter how hard you try, you can’t catch something that’s falling unless you get your hand just under it. That’s where your price needs to be to win the buyer, and you will get a full price offer if you can show them you’re the best house for the money.
Kitchens and baths remain the key areas to spend money on upgrades, but don’t overdo it. Make sure the updates still fit the style of the home and are functional. Remember that if it’s something a house should have, like a roof that doesn’t leak, or a furnace that works properly, it’s not necessarily an upgrade that you will get your money back on, other than saving you money on energy costs. Updates will, however, allow a buyer to give your house more consideration than one without updates. With all the inventory on the market now, giving the buyer less to worry about could be priceless.
There are plenty of incentives to buy and sell now. Great interest rates, the ability to make up a loss in a move up, and some terrific investment opportunities are just a few of the reasons we’re seeing multiple offer situations more and more. Add in the first time buyer tax credit and prices that haven’t been this low since 2004 and it’s easy to see why! Buyers and sellers who are on top of things are accomplishing their real estate goals faster than you can blink. Are you ready to jump into the game? Give me a call at 262-719-9649, or email me at ltremaine@shorewest.com!
Posted by:Lisa Tremaine
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