What TRID changes is how the loan and all costs associated with it, are disclosed, how the lender complies with those new rules, and the timeline for final delivery of the loan details to the buyer. This timeline can be fluid, creating difficulty with moving dates, same-day closings, and other logistic problems, and that’s why Realtors and lenders are advising building in extra time for closing.
All of these questions need to be taken into consideration in addition to the mortgage qualifying process in order for you to be happy with your home. I don’t want you to happy with your home for the first month you live there, I want you to be happy for as long as you live there!
Lenders give us the 8 Commandments for keeping that loan from preapproval through to Clear to Close.
HUD Homes are a unique way to purchase property. When you are ready to find out more about HUD homes or the 203(k) loan, contact me, Teri Lussier, Realty Central, at 937.343.1411.
A quick look at some of the best real estate information recently posted from around the web, of interest to Dayton Ohio real estate consumers.
REbuildUSA and its partners deliver the support, expertise and systems to allow you to more easily use the power of the FHA 203k loan to make those repairs and renovations to neglected homes and neighborhoods. I recently went through the REbuildUSA training to be in a position to help Dayton home buyers who otherwise wouldn’t be able to buy the home they want, at a price they can afford.
ReBuildUSA 203k course is a loan program that will roll the cost of renovations into the home loan. If you are looking at foreclosures, short sales, or distressed properties but have some concerns over funding the renovation costs, this loan might be something to consider. Call or text Teri Lussier at 937.343.1411 if you would like more information.
Dan Green, loan officer with Waterstone Mortgage, sent out his email newsletter for today and in it he discusses the 2010 Home Buyer Tax Credit and his very real need to create simple answers to some FAQ’s. Dan says: 11 months after the law’s first passage, I’m still fielding a half-dozen eligibility questions per week. […]
The holiday was lovely. A very special time for my family, and time slipped past, for which I make no apologies. It was mentally necessary. But this is 2010, and it’s time to refocus. I’m passing this along from mortgage lender, Tom Vanderwell with Fifth Thrid Mortgages, who gives us Straight Talk About Mortgages, and […]