What Loan Program Is Best for You?

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Today I have our preferred lender, Gina Bush, NMLS#119307, and she works at Midland Mortgage Corporation, NMLS# 66708 (www.midlandmortgagecorp.com). She has a lot of different loan programs that she can offer you, and that's what she's here to talk about.

There is an FHA Loan and a State Housing Loan that require low down payments and work very well for first-time home buyers. There is also down payment assistance available for those loans.

We also have conventional loans that work well for people who have stronger credit. There are also VA loans for anyone who has served in the military, and these come with fantastic benefits (no down payment and no monthly mortgage insurance).

We also have a USDA rural housing loan. This is only available for homes that meet the requirements, so location is important if you wish to get one of these loans. There is no down payment and no mortgage insurance required, but there are some income requirements for this loan.

Another type of loan we have is a construction to permanent loan if you want to build your own home. If you want to buy a home that needs a little work put into it, you can qualify for a rehabilitation loan, which can actually help you pay for the cost of repairs.

As you can see, there are a lot of different loan types that are available to you. If you have any questions about which might benefit you most, please feel free to contact us or you can get into touch with Gina by clicking this link: http://www.midlandmortgagecorp.com/meet-the-team/gina-bush

Why Is it Smart to Buy a Fixer-Upper?

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Selling a Columbia Home? Check out our FREE Home Value Report

Today we want to talk about wrapping the renovation of a house around its purchase, and why we think it’s such a good idea. 

Being able to do this helps our clients out in a few ways. Often times, individuals can’t find the right home and want to buy in a neighborhood just out of their price range. One way we have been able to solve this in the past is by finding a home that’s maybe a little dated or has some deficiencies, and renovating it with the savings we will get on the purchase price. We roll it all up into one transaction, and you end up with a house that is newly remodeled and you also have some real financial advantages.

We recently had a client who paid a little over $100,000 for a home that was little more than a shack. The renovations cost us about $35,000-$40,000 and they were totally worth it. Those homeowners are now going to sell that house for $50,000 more than what they paid for it originally.

Being able to do this not only helps sellers move their properties, it allows buyers looking for live-in homes to get the one they want and helps our investors flip properties.

If this kind of strategy seems like something you’d like to try, give us a call or send us an email. We would love to help get you into the home of your dreams!