Archive for the ‘buy’ Category
Tuesday, August 1st, 2017
Let’s talk about lending:
The best way to explain what a conventional loan means is that a home buyer’s mortgage is not backed or insured by a government agency such as the Federal Housing Administration (FHA) or Veterans Administration (VA). Buyers can use a conventional mortgage to purchase a one- to four-unit home, a condominium, modular or manufactured home as a primary, secondary or investment property.
A loan that conforms to conditions and terms of the government-sponsored enterprises Fannie Mae and Freddie Mac is called a “conventional loan.” The down payment of a conventional purchase loan is generally higher than that of a government-insured loan, such as an FHA loan, which is 3.5%. Conventional borrowers generally must pay between 5% to 20% percent of a home’s purchase price for a down payment. On a refinance a conventional loan can go up to the Loan to Value (LTV) of 95% with the addition of PMI or LPMI factors.
On a conventional loan the lender will consider a buyer’s debt-to-income ratio, which he/she determines by calculating the projected housing costs and actual recurring monthly expenses. A buyer/buyer’s home expenses. Which include the monthly loan payment applied toward principal and interest, property taxes, mortgage and homeowners insurance as well as total of all monthly expenses, including housing, must not exceed 43% of the buyer’s income. Do you fit that criteria?
A FICO credit score of 640 and higher increases a borrower’s rate of approval and may reduce the loan’s interest rate. FICO is an abbreviation for the Fair Isaac Corporation, the first company to offer a credit-risk model with a score. The story would be more interesting if “Fair Isaac” refers to some wise, above board person. Here’s the deal: Bill Fair and Earl Isaac are the founders.
Borrowers who have filed a Chapter 7 bankruptcy case can apply for a conventional mortgage after four years from discharge date, and those who have filed a Chapter 13 may apply two years after the re-establishment of an active credit profile.
The current market and the borrower’s FICO credit score influence the interest rate he’ll receive on a conventional loan. Conventional loan programs at a fixed rate, where the interest rate stays consistently the same throughout the term of the loan, or as an ARM, an adjustable-rate mortgage, where interest rates initiate at a below-market rate and change on a designated schedule, which ranges from monthly to annually or longer.
Conforming conventional loans: have a maximum loan limit set by Fannie Mae at the county level.
In the case of non-conforming loans, banks ususally set the limit at 80 to 90 percent of the home’s appraised value.
Call Penny O’Brien @ 702.321.9383
Monday, March 20th, 2017
So, You’ve probably heard all about Real Estate from friends, family, co-workers the Internet or other places that the public has provided information about Real Estate. Let’s talk about Real Estate and here are 10 tips from Penny O’Brien:
- Ask me questions related to Real Estate and Other related vendors.
- Listen to what I have to share about Real Estate.
- Listen and Learn, we are going to have a great experience.
- Let’s Debate about what you’ve heard.
- Realize you are here to learn, ask me questions.
- Maybe you’ve heard things about Real Estate that are not true.
- I am interested in what you do and what you need.
- Let’s take action to help you with your Real Estate Needs.
- Share your weaknesses, there is no such thing as a silly question.
- You help me understand what is most important to you in finding you the right home.
Make it a great day and call me: Penny O’Brien with RE/MAX Excellence 702.321.9383 GOWITHPENNY@yahoo.com
Monday, March 20th, 2017
Welcome and Happy Spring to you and yours. It’s no Mystery that Las Vegas is an amazing place to live. It’s like magic. Most anything you need or want is here. The City that never really sleeps. There’s always a concert to go to. A Strip show to see. A beach to be visited. Pool time and music. Food galore, what type is your favorite? There’s so many restaurants here that it’s almost mind blowing. Shopping? again, there are so many different places to spend your time and money.
How about a house? Are you in the market to buy or sell? Call Penny @ 702.321.9383 GOWITHPENNY@yahoo.com
Sunday, March 12th, 2017
The largest municipality by population in Nevada is Las Vegas.
Las Vegas is the most populous city in NV and an internationally renowned resort city known for gambling, shopping, fine dining and its nightlife, Red Rock Canyon, Mt. Charleston, low housing prices and beautiful weather. Also known as the Entertainment Capital of the World, Las Vegas is quickly transforming into a popular family and retirement city as well and it is now the 31st most populous city in the state. In 2016, the city has an estimated population of over 600,000 residents.
The population does not include North Las Vegas, Henderson or Green Valley. Summerlin is considered Las Vegas, it has not become it’s own town per-say.
When deciding to move to Las Vegas and you’re not familiar with the Valley, give me a call. I can help show you around and help you decide on what location works best for you. I have lived here in Las Vegas for over 18 years and have been helping buyers and sellers buy and sell homes for 17 years full-time I love helping others. Please give me a call, text or email so we can sit down together and discuss your questions.
Enjoy your life, Penny O’Brien 702.321.9383 GOWITHPENNY@yahoo.com
The 2010 Census placed the population of Las Vegas at 583,756, but its population in 2016 is estimated at 623,747.
Wednesday, March 1st, 2017
Are you interested in purchasing a new home? Give me a call @ 702.321.9383. I have information on all of the new home builders and what they have for sale. With New Home Builders adding to new areas of the Las Vegas Valley, it’s a smart idea to know where they are, what their prices are and what they look like, inside and outside. We can sit down together and do a complete search for the home that best fits your needs. There are a whole lot of builders building everywhere right now. Summerlin, Henderson, Green Valley, Southwest, Northwest, North, EVERYWHERE
I can surely help you find your New Home Search. I’d love to hear from you.
Enjoy your day, Penny O’Brien 702.321.9383
Let’s get moving. GowithPenny@yahoo.com
Wednesday, March 1st, 2017
When I first got into Helping clients buy and sell homes I thought to myself, It’s really important to remember how much work it can be to move. So many of us move in a home and stay set. As one lady said to me the other day, I’m never moving again, she was probably in her late 50’s and just has had enough moving around. She said I’m going to die in this house. Which of right now we don’t have to disclose if someone dies in a property.
My point of this blog is, I just moved. It was a great experience. I don’t have a lot of things, I am a minimalist. I will say tho, even as a minimalist, it’s a lot of work moving. If you need information about Las Vegas Real Estate, homes for sale, or are interested in selling, Please give me a call, I’ve been helping clients buy and sell homes in Las Vegas for over 17 years full-time.
If you are moving and need some help, give me a call. I will help out if possible.
Enjoy your life,
Your Friendly, honest Realtor, Penny O’Brien 702.321.9383 RE/MAX Excellence
Friday, February 24th, 2017
This is a very serious blog. I can not begin to tell you how many stories I’ve heard about people being scammed by someone acting as a Realtor, is a Realtor or homeowner who’s gonna rent their place out. There are some really horrible people scamming others. Here’s a couple of examples:
One Licensed NV Realtor was managing rentals for many landlords. What he was doing was receiving the rent monies and not paying the landlords saying that the renters were late on payments etc. He got away with this for months. Taking the rent checks and putting the money in his pockets. He did eventually get caught and return to his country never to be found. He was fined by the NV Real Estate Division, but I’m quite sure non of the landlords and the RE Division will never be paid back. The payments in fines were over $100,000. I can’t remember the exact amount. Heck maybe it was near $300,000. Seriously, How can someone do that to others?
How about all the people who scam people off of CL and lots of other websites. I have heard stories of People posing as Real Estate Agents. Sending the lease agreement and collecting money, NEVER to be heard from again… YOU CAN NOT trust all Realtors. Please read below:
Here’s a list of thing you can do to protect yourself.
Go to the website: Realtor.com, look up the agent
Google the agent, www.http://SunnyLasVegashomes.com or
You’ll see me, Penny O’Brien
Look them up on Zillow,
Call their office number, check to make sure there is an agent by that name affiliated with them.
Call GLVAR and see if they have a Realtor by that name
Keep Checking, DO NOT STOP until you know in your gut that you are dealing with someone you can trust.
call me, I’m trustworthy, I have so many clients who can testify and share their experience while we worked together and time after. I have happy clients. You’ll be taken care of with me. I’ve been helping people for over 17 years full time. I love helping others.
Enjoy your day/night/weekend and times to come. Penny
Wednesday, February 22nd, 2017
Happy day to you all,
Here is an amazing picture taken inside Ice Box Canyon at Red Rock Canyon here in Las Vegas. If you’d like to know more about what Red Rock Canyon has to offer or are looking for an Las Vegas Home to purchase or sell. Give me a ringy dingy @ 702.321.9383. Or shoot me an email at GowithPenny@yahoo.com
I have been helping people buy and sell in Las Vegas or over 16 years full-time. I’d love to help you too. Enjoy your day. Penny O’Brien
Las Vegas Red Rock Canyon
GIVE PENNY A CALL @ 702.321.9383
Thursday, February 9th, 2017
Hi there everyone,
Are you currently with the Military? Are you a Veteran? Please let me begin with, THANK YOU FOR YOUR SERVICE. My son is with the Marines and I see the Honor and Sacrifice that goes along with being in the Military. I am so grateful that there are People out there that care so much for our country and are willing to be there in times of need. With that said, I can help you with your Real Estate needs, I am the perfect Realtor for you. I have over 16 years of helping families buy and sell here in the Las Vegas Valley. I moved to Las Vegas from Iowa almost 20 years ago. As of right now I have clients who are Military. They are purchasing a 2 bedroom condo near Summerlin. They are having USAA do their loan. I am very familiar with all types of loans and how to help you through the loan process too. Some types of loans are FHA, Conventional, VA, HUD loan, so many different types. There is also down payment assistant programs available. There’s so much and I have the knowledge in what available for you. Let’s get together and figure out what type of loan is best for you. Or, perhaps you’re paying Cash.
I really do hope to hear from you. I love helping and it’s the least I can do to help you in return for all you do. You can reach me at 702.321.9383, text or call me. I always respond very quickly. Or email me at GowithPenny@yahoo.com And, please understand there are no silly questions that you maybe afraid to ask. I’m a REALTOR with your best interest at hand. My buyers are buying condos, townhomes and Single Family Residences. I look forward to hearing from you. I have Happy Clients. NOW, let’s get moving.
Have fun and Enjoy your life. Penny
Monday, February 6th, 2017
As you may know or may not know, Las Vegas has a HUGE inventory of NEW HOMES. Builders are building in every area of Vegas. Henderson, Summerlin , The Great Northwest, The Great Southwest, North Las Vegas, EVERYWHERE. It is so exciting.
Which builder are you looking for? KB Homes? Toll Brothers? Beazer? Pulte? Woodside? Lennar?DR Horton and many more. Let’s look and see what they have for sale. I can also share with you what incentives they offer.
Many people enjoy the idea of a new homes because they get the possible chance to pick the lot, flooring, cabinets, window coverings, etc. Plus, It’s like buying a new car vs. an used car. It’s all about what’s really important to you as the buyer.
I have access to all the builders inventory in the Valley, please give me a call @ 702.321.9383. We can meet at my office and do a complete search of the Valley for your new Home. Enjoy your day, Penny O’Brien, I have 16 Joyful years of full-time buying and selling Las Vegas Homes
P.S. all or most of the builders accept VA, FHA, HUD programs, Conventional and Cash purchases.
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