Posts Tagged ‘purchase guidelines’
Are you currently renting? NOW REALLY IS THE TIME TO BUY! Get off that fence before YOU miss the BUS!
November 8th, 2010 | 
Author: 
Unless you live in San Francisco, New York, Washington, Los Angeles, Boston or San Diego, according to Forbes- You should be buying a house today! (Click on photo above to link to full article)
Rates are @ historic lows- I have clients locking in 4% this week when they were quoted 4.5% originally. They currently pay $1000 for rent now but after their tax savings, they can buy a $185,000 house with 4 bedrooms and a pool and their essential out of pocket is less than their current rent monthly.
We keep hearing rates are going up after the first of the year, now really is the time to buy your first home if you live in the Phoenix Metro area before YOU MISS THE BUS!
| Sales Price | $185,000.00 | $175,000.00 | $165,000.00 | $155,000.00 | $145,000.00 | $135,000.00 |
| Principal & interest @ 4.5% | $909.00 | $860.00 | $810.00 | $761.00 | $712.00 | $663.00 |
| Principal & interest @ 4% | $856.00 | $810.00 | $764.00 | $717.00 | $671.00 | $625.00 |
| Mortgage Insurance | $138.75 | $131.25 | $123.75 | $116.25 | $108.75 | $101.25 |
| Taxes | $107.00 | $107.00 | $118.00 | $118.00 | $107.00 | $107.00 |
| Hazard Insurance | $41.00 | $41.00 | $41.00 | $41.00 | $41.00 | $41.00 |
| HOA | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total Payment @ 4% | $1,142.75 | $1,089.25 | $1,046.75 | $992.25 | $927.75 | $874.25 |
| Approx mthly tax benefit | $303.97 | $289.74 | $278.44 | $263.94 | $246.78 | $232.55 |
| Net effective payment | $838.78 | $799.51 | $768.31 | $728.31 | $680.97 | $641.70 |
| (As Compared to Renting) |
***These figures are approx., please confirm with your preferred tax expert how owning vs renting would impact you directly; payment based on FHA 3.5% down loan, a licensed Mortgage Professional can provide a Good Faith Estimate with the APR- just ask and we’ll be happy to refer you to one***
Start shopping now for your first home or call us at 480-243-4242 and we’ll happily send you a free customized list of homes.
Posted in In the News, Purchasing a home | 
Tags: interest rate, Phoenix, purchase guidelines, rental home | 
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What are the Top 3 ?’s people ask when considering a Short Sale instead of a Foreclosure?
Rebecca Hidalgo sits with Corey Peterson of Kahuna Investments and discusses the most FAQ’s she sees when clients contact her for advice/consultation on doing a Short Sale. (Corey is an investor and helps many people by buying their homes with cash for a quick close)
1. Do I have to be late on my mortgage payment(s)?
2. When can I buy again?
3/4. (tied) What are my tax obligations and can the bank come after me for the loss (deficiency)?
Watch the video and if you’d like to discuss your own situation with Rebecca, please fill out our quick online questionnaire about you and your home or call Rebecca @ 480-243-4242.
Posted in FAQ, General, Listing, Purchasing a home, Short Sales |
Tags: 1099, anti deficiency statute, Corey Peterson, foreclosure, Kahuna Investments, phantom income, purchase guidelines, short sale |
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