ZERO DOWN PAYMENT: Great Family Home in American Fork
669 N 560 W, American Fork, UT 84003
ehomesbyowner.com
Wright Brothers Real Estate
http://www.ehomesbyowner.com
ZERO DOWN PAYMENT STILL AVAILABLE. Great family-sized home in a popular neighborhood in American Fork, near the Meadows shopping area. 2 family rooms, playground area.
ZERO DOWN PAYMENT FINANCING:
•Asking Price $259,000
•Down Payment 0%
•Monthly Payment $1,675*
*Based on 0% Down Payment FHA loan with a note rate of 6.29% and an APR of 6.93% on the first mortgage and a note rate of 7.29% and an APR of 7.64% on the second mortgage OAC all loan quotes are estimates and subject to availability.
Equal Housing Lender
MLS: 840373
Price: $259,000
Bedrooms: 3
Bathrooms: 2.5
Sq Feet: 2420
Lot Size: .23
Year Built: 1999
# of Floors: 3
Garage Size: 2
Duration : 0:1:0
How to Buy a House : How to Qualify for a Home Mortgage
Watch as a real-estate professional explains how to qualify for a home mortgage in this free online video for novice homebuyers.
Expert: John Jackson
Bio: John Jackson has years of experience and has put together a professional real estate team known as John Jackson & Associates.
Filmmaker: Ross Safronoff
Duration : 0:1:6
Tax Credit for First Time Home Buyer Loans, FHA and Government Mortgage Incentive Program
First Time Home Buyer Mortgage Program with $8000 Tax Credit, Low Down Payment and Fixed Interest Rates on Government FHA Loans. Financing Assistance at Cheap Rates. Go To http://RealEstateMarketingThisWeek.com
Part 3 (Excerpt)
$8,000 tax credit the government is paying you to buy a home with a very low down payment
We have back in the studio today Mr. Dan Havey. Dan and I have worked together in the mortgage industry for about 14 years and we are happy to have him back. He has seen a lot of changes in the market and thanks again for being here.
Michael, here is a question I wanted to ask you, there is so much misconception in the marketplace today as far as what is still available for financing. I think a lot of people have this idea that it is impossible to finance a loan or get a mortgage or that you have to be able to put 20% down or have a 720 FICO score. Can you let people know whats really going on out there?
Well you know a lot of things have gone away. There are a lot of those old loan programs that were fancy ways to sell money and finance real property and a lot of thats gone. The reality of it is, if a person has a minimal amount of money down, there is absolutely financing through the Federal Housing Administration with 3.5% down. You can buy up to about $358,000 with only 3.5% down. Now with Fannie Mae and Freddie Mac, we actually do have a few investors that will allow us to only put 5% down with those and that loan amount maximum is $417,000. So there is still plenty of financing for primary residences.
Now in regard to looking at investment properties believe it or not there are actually still some stated income loans out there, but the stated income loan is for a non owner occupied property, the interest rates are very high and you know what, if you can put 20 to 25% down and prove your income you are better off using conventional financing, it is absolutely still available.
Now if you are a first time home buyer living in an apartment and you are getting kind of tired of it, you are looking at low interest rates, you are looking at the property values have come down over 50%, FHA is generally going to be the direction that person is going to want to go, right?
Absolutely and you know Dan with the $8000 first time home buyer tax credit you know that is a check that the government sends you for up to 10% of the sales price of the home up to $80,000. Its capped at 10%, you are not going to get more than $8,000 back and you may get less if you buy for less than $80,000, but whats really interesting about this is you can, if you have already filed your 2008 tax return, you can file a 1040X and get that credit sooner. You dont have to wait until April 15th of 2010 to get your tax credit. You put the money down today, close on the mortgage, move in, file your 1040x, there is a form that is called the 5405 but thats not all that important, and you can have that money back in your pocket right away.
So I know that was part of the plan that came out today and just to make it a little bit clearer for peoplelets just take an example. Lets say you buy yourself a $150,000 house and you buy it as an FHA, it doesnt really matter how much money down or how you buy the house but if you buy a $150,000 house, you are going to get an automatic $8,000 tax credit that you can take off of the taxes that you owe the government. So lets take an example where you are a W-2d employee and you pretty much break even at the end of the year, you dont owe the government any money and they dont owe you any money the government will actually write you a check for $8,000 for that tax credit and if you buy it this year you can amend your tax return for 2008 and get a check from the government for $8,000.
And thats not including the other tax write offs that you get for writing off the taxes on the house writing off the interest on the house, so again with a $150,000 house with 6% interest roughly you are going to be looking at another $10,000 worth of write offs on top of that. Now that is a write off not a tax credit, like the other one so you are going to save whatever your tax rate is. So lets say your tax rate is 30%, that is another $3,000 in taxes saved. So if you buy a house this year you are going to put an extra $11,000 in your pocket.
So if you buy a $150,000 house and you have to put 3.5% down, Thats what? Lets just say roughly $5,000, you just made $6,000 and you get to own a house. ($11,000 tax savings minus $5,000 down payment) And your mortgage payment is more than likely less than or equal to what you are paying for rent and you own it.
Exactly and you get the benefits of having your own house…
Duration : 0:6:14
First Time Home Buyer Loan, $8000 Tax Credit, FHA Low Down Payment Mortgage Assistance Program
Tax Credit for First Time Home Buyer Mortgage and Government Assistance Program to Help Home Owners Finance a Real Estate Loan with Low Down Payment and Interest Rate. Go To http://RealEstateMarketingThisWeek.com
Part 5 (Excerpt)
Inventory of foreclosed homes may be declining soon Home sales double in last year
So we are back in studio today with Dan Havey. Dan and I have known each other for many years and we have worked very close over the years in real estate. Dan and I are not necessarily 100% in agreement with where the market is today and whether we are at the bottom or not. I tend to believe that we are. Let me tell you my thinking on this.
Dan uses actual facts and figures to make his prognostications. Heres what I know, I know that Fannie Mae and Freddie Mac have put a moratorium on foreclosures. What that means is that they are slowing the supply of repos. What that means is that they are putting fewer homes on the market, which means the supply has been reduced to a 9 month supply of resale homes on the market. The builders are gearing up, getting ready to start building again, but they are not building again just yet. Thats a great indicator.
Interest rates couldnt be better. They havent been better than they are now, so not only can you buy a house at the same price you would have paid for that house in 2002, but you are going to get a significantly lower interest rate then it would have been then. Effectively a house today is going to cost you less than it would in 2002, with the interest rate and the home value being what they were. Now if property values do continue to increase and the average rate of 4%, your internal rate of return on your investment will increase exponentially.
One of the things that Dan Havey did say, and I kind of think you need to pound on this a couple of more times is this, you dont buy a house for you and your family as an investment, you buy a house because you want to live there, because you want to raise your family there, because its right for you. The investment part of it will come in time on its own. For now owning a home, owning that dirt, raising your family, making your new memories, is the best thing in our opinion that you can do.
Dan, why dont you take a minute and talk about the year over year numbers that you have. Well, there is a number of things I agree with you on Michael and one of the things I was really surprised by when I started looking at the numbers the other day is that since June of 2008, so 7 or 8 months ago, since then, year over year sales actually increased and in many cases have doubled. So lets just say for a specific example if there were 5,000 sales in Maricopa County in June of 2008 that would mean that there were 2,500 a year earlier, and so anytime you see an increase in sales year over year and especially when you see this big of an increase, 100% increase year over year for most all of the last 8 months, that is a huge indicator that the market is starting to recover. Now there are other factors as Michael said, the builders are not quite building yet, but I like the fact that there is the moratorium in many cases now on the foreclosures going through, and with the Mortgage Bailout Bill that came out today part of it was $75 Billion that they were going to throw at Fannie Mae, Freddie Mac, and all of the other lenders who received TARP funds to help modify loans.
One of the requirements is if the lender, Fannie, Freddie, or the servicer is working with the home owner they have to stop the foreclosure process, so hopefully what this is going to do is over the next six months its going to help out millions of people. I am not quite sure how they are going to get all of these loans done, there are an awful lot of people that need to have their loans modified, but even if they can just help some of these people to delay the foreclosure sale, help these people get their loans modified.
First off it is going to help keep people in their homes but the biggest thing from the standpoint of property values and first time home buyers is that its going to start taking some of that supply off the market there are going to be less repos out there for people to buy and because of that property values are going to begin to stabilize and quit dropping…
Duration : 0:5:43
Tax Credit for First Time Home Buyers, Government Mortgage Down Payment Assistance Program
First Time Home Buyer Tax Credit of $8000 thru Federal Loan Program and FHA Mortgage with Low Interest Rates and Fees. Low Down Payment to Purchase Bank Foreclosures. Go To http://RealEstateMarketingThisWeek.com
Part 1 (Excerpt)
Interest rates hit bottom, first time home buyers should buy before the prices go back up
We have a special guest back in the studio today. Dan Havey has been a great promoter for Velocity Financial . Dan and I have been working together for about 14 years now. Dan has brought with him some really, really interesting facts and figures for people who are wondering whats happening, wondering if we are at the bottom of the market, wondering how much further we are going to have to go. We are going to talk about lots of different things like that. Hes got some really good information, in my opinion some good stuff, some good solid data to make some good decisions about whether or not you should or should not buy right now.
So, Today was the official day that President Obamas Plan was rolled out. It was designed to help some 8 to 9 million homeowners, responsibly homeowners they called them, people who purchased homes at the peak of the real estate market with 20% or more down. The plan is just so darned convoluted, it is very complicated, people are calling wondering whats real, whats not real, whats going to happen. The bottom line is about 19% of all the homes were financed utilizing Fanny Mae or Freddie Mac financing. People, who have Fanny Mae or Freddie Mac loans, these conventional type loans, that put 20% down, that used full documentation, which means tax returns to qualify for the loan, those are the only people that are actually going to be helped with this program, and there are so many little caveats to it. I believe its not going to help nearly the number of people as intended. Its very unfortunate that its just not going to be as popular as we thought.
The other thing that people were hoping for, and we have heard this a lot that they are waiting for mortgage rates to get down to 4%, it is not going to happen. If you are out there ready to refinance but holding out waiting for rates to get back down to 4% you need to get off the fence and get something done now. The trend is upward, mortgage rates are going to go up, yes the Fed is buying mortgage backed securities so that should help a little bit. The reality of it is 4% is just not going to happen in this lifetime, so if you are in the middle of the process find something that works good for you and make it happen.
The other thing we are going to talk a lot about today is when rates do go down, which there very well may be a little dip in the next couple of weeks everyone tries to rush in and take advantage of that rate and thats not really what you should do. What you should do is get in with your lender and get the information to them now so they can start working on your loan, put your case together and have everything ready to go so if the rates do drop you will be ready to execute immediately. Interest rates are really good and we are going to spend a lot of time talking about interest rates and how to buy a home, first time home buyer programs and things like that today. But I just had to mention that I get this question all the time when can I lock in 4 and a half or 4%? Well there you go thats my prognostication I am certain that I am right but we will just have to see as time goes on…
Duration : 0:5:32
I am buying no money down, do I need earnest money?
Real estate tips from Joseph Watson of RE/MAX Way. Information is provided by “It’s Time to Move Up”, the real estate resource for consumers who want their questions answers in ways they can understand. For more information please visit www.watsonhomesfinder.biz or www.itstimetomoveup.tv
Duration : 0:1:31
Go Beyond No Money Down You Can Get Paid To Buy Houses
http://offto.net/Paid2BuyHouses
You Can Go Way Beyond No Money Down because You Can Get Paid To Buy Houses Today
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Duration : 0:3:30
How to buy a home with NO money, Tom Hasenauer
http://www.CitySourceFunding.com Last no money down mortgage program for home buyers.
Duration : 0:2:6
How To Buy Real Estate No Money Down (Millionarie Crack)
http://offto.net/rtmoneydown/ How To Buy Real Estate No Money Down Dear Friend, Let me share a truth that all real estate investors know: Despite anything you’ve already heard about making money… can make money in real estate and I’ll prove it to you! …
Duration : 0:2:13
No Money Down. Can You Really Buy Property With No Money?
http://www.belowmarketvaluepropertyinvestments.com
A leading site for learning all aspects of no money down property investment from finding motivated sellers to buying below market value.
Many investors create property portfolios without putting any of their own money up front. This is known as No Money Down and is a tool for buying property below market value without tying up any of your own money up front. The secret is to find genuine below market value (BMV) properties and borrow against the actual market value of the property rather than the BMV purchase price.
There are various property financing services that provide no money down solutions to real estate and property investments. These services allow investors to take out what is known as a closed bridging loan. This enables them to buy a property without having to use their own money as a deposit.
This type of loan is an effective way of financing the purchase of real estate without the investor unnecessarily tying up his own money sometimes for years.
Taking out a closed bridging loan to invest in property no money down can also yield instant cash returns on completion. Traditionally for example lenders will normally loan a maximum of 85% of the properties valuation or purchase price depending on what is lowest. The investor is still required to come up with the other 15% of the value in order to finance the purchase.
Closed bridging can be a very effective way to quickly grow a portfolio if you are purchasing properties below market value. It can enable you to buy no money down and then get instant money returned to you on completion.
A bridging loan is a tool, and just like any tool it is extremely useful when used correctly.
Once you have found a BMV property then effectively you can buy the property with minimal or no money down.
You have to ensure that you are dealing with time motivated sellers (i.e. people being repossessed) with enough equity in their property to pay their mortgage and all their liabilities off.
This is what a no money down real estate BMV deal is, usually 15-25% below market value with the aim of having to use none of your own money to finance the deal.
As described in my free no money down mini course, my preferred method is to buy with no money down using closed bridging.
You would purchase the property using 100% closed bridging finance and then immediately (on the same day) refinance using a traditional buy to let mortgage which is the strategy behind no money down financing.
This allows you to complete a no money down deal as the bridging finance pays for the initial purchase at below market value then a pre arranged buy to let mortgage repays the bridging and potentially any cash back that you have negotiated.
Many serious property investors have created enormous no money down property portfolios with very little money upfront. The secret is borrowing against the value of a property rather than the purchase price which is the technique behind no money down investing.
Summary of how to purchase a no money down property using closed bridging finance
1. Speak to a closed bridging finance company. SPD Investments Limited can arrange this once you have a property in mind with fees from 0.75%. Please email spd@spdinvestments.com for further details
2. Arrange the mortgage based on the true market value of the property.
3. Instruct your solicitor to start the conveyancing process
4. When you are ready to complete and the buy to let mortgage funds have arrived at your solicitors, the bridging funds are then also sent to your solicitor.
5. The bridging funds are used to purchase the property at the purchase price you have negotiated (The bridging finance covers this 100%).
6. The property is then immediately refinanced (same day) using the buy to let funds and the bridging finance plus interest is paid back and any equity balance paid to you.
You can learn proven No Money Down strategies with my FREE mini-course – “Six Tips and Techniques for Maximizing Profits From No Money Down Property (BMV) Investments” This is a £127 value course for FREE
How to buy unlimited no money down homes using little to none of your own money.
How to find the best motivated sellers and BMV properties.
How to get started buying below market value properties and how to build your property portfolio and buy real estate with no money down.
I know how to spot the best below market value investment opportunities and how to find them before everyone else does. I can show you how.
Would you like to profit from the proven method of investing in below market value property as described above? Then take action by signing up for your free 6 part tips and techniques now. (Delivered in 6 emails).
Visit http://www.belowmarketvaluepropertyinvestments.com now for your FREE breakthrough 6 part mini course on below market value property investments
Duration : 0:1:59
Boost Your Credit Score by 135 Points
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