Friday, December 30, 2011

HUD extends anti flipping through 2012

The FHA anti-flip waiver is supposed to allow you to actually purchase a newly remodeled home from an investor who just purchased the property less than 90 days ago.

Sounds great, right? Well not so fast. Just because FHA says it’s not a problem doesn’t mean every lender feels the same way.

There are a lot of companies that have major overlays to either prevent this waiver or a big increase in the documentation needed to do this type of loan. So before you buy a newly flipped house with your FHA loan you will need to find out when the seller purchased the property and the amount of repairs done to the property. This will make a big difference to your loan originator on what lender he or she can lock your loan with.

Once you know for a fact that the loan originator you have chosen has an investor who can do these type of loans you should be good to go, and this can be a great way for you to buy a newly remodeled home without having to worry about the hassle of doing the remodel yourself.

Can’t find a lender in your area who can do these loans? Contact me, and I will help you out.

Now if the seller has already owned the property for over 90 days, there is no need to worry. You can purchase the property like the normal FHA transaction.

I do want to point out that USDA, VA and conventional loans do not have any seasoning issues or time frame after the investor bought the property. Technically, FHA doesn’t either, but like I said, overlays could be a killer with your lender. So if you can’t do FHA, look at your other options.

Keep this in mind when you are looking at newly remodeled or flipped properties.

Thursday, December 29, 2011

Week 35 Packers vs Lions contest to win a Dairy Queen gift card.




Post your predictions on http://www.facebook.com/gsfron to win a $10 Dairy Queen gift card.

Give me a call if you are looking to purchase or refinance. Rates are great right now.

Have a Happy New Year

Tuesday, December 27, 2011

Top 10 questions to ask when hiring a Wisconsin Real Estate Agent



Hi, I am Ron Meyer, a mortgage loan consultant with GSF Mortgage.

Now that you preapproved to purchase a home the next important step is to hire a Wisconsin Real Estate Agent.

Here are the top 10 questions to ask when hiring a Wisconsin Real Estate Agent.
1. Do you work full-time or part-time?
2. How long have you been in the real estate business?
3. How many real estate transaction’s have you done in the past year?
4. What hours are you available and do you work nights and weekends?
5. How quickly can you get me into a home? Hot homes move fast.
6. How well do you know the area(s) I am interested in?
7. Can you give me a comparative market analysis also called a (CMA) of recent sales in the area and homes currently on the market?
8. Will you show me all the properties for sale including those for sale by owner?
9. How many foreclosure or short-sale transactions have you handled?
Distressed properties can be great deals, but the paperwork is complicated.
10. Will you handle all aspects of my transaction, or will I be working with others as well?

If you liked this information or found it helpful, please email it, forward it, or share it with others who might like it.

Friday, December 23, 2011

Week 34 Packers vs. Bears to win a Subway gift card. Merry Christmas



Guess the total points scored in the Packers vs Bears game to win a $10 Subway gift card. Post your predictions below the comments to the week 34 video on my facebook page at http://www.facebook.com/gsfron.

Merry Christmas,

Tuesday, December 20, 2011

Top questions to ask a lender when looking for a Wisconsin mortgage.



Hi, I am Ron Meyer a mortgage loan consultant with GSF Mortgage.

Today, I’m going to talk a little about how to find the best lender for your mortgage.

The first thing to do even before you begin to look at homes is to get preapproved for a mortgage and find a lender.
Here are the top questions you’ll want to ask when interviewing a loan officer to make sure they can meet the needs of you & your family.
1. First, ask How long have you been in the mortgage business?
Be wary of newbies. Anybody with less than three years of experience could cause you extra anxiety and possibly a declined loan due to not knowing the underwriting guidelines.
2. Ask Why is this loan the best one for me?
This question is a great way to gauge how knowledgeable the loan officer is on all types of loans. If they are not able to provide you with a detailed answer, it could mean that they are not considering the best possible loan option for you or have not considered all the alternatives.
3. Should I pay closing costs or take a higher rate with less costs?
If you have an idea of how long you plan on being in your new house, your loan officer should be able to run a break even analysis to find out if you should take a low interest rate and pay closing costs or a higher interest rate with little or no closing cost.
4. What hours are you available?
You should want someone who will work as many hours as it takes to get your loan done, not someone who is content with only working nine to five. The more time your loan officer is available, the quicker you will be able to sign.
5. Do you have your own loan processor? Some lenders originate and process their own loans. This can delay the process if they have a lot of loans to get closed. The busier they are, the slower each one will be. It’s much more efficient if your lender has a processor to assist.
6. What is your underwriting turnaround time? Ask the loan officer how long it will take for their underwriter to look at your paperwork to determine what else is needed to get your loan closed. 72 hours is pretty standard. I have heard of lenders taking 30 days to look at files. Find out first!
7. How do you keep me informed how things are going during the underwriting process and what is needed? Your lender should have a system in place to keep everyone involved in the process up to date and when items are needed.

If you liked this information or found it helpful, please email it, forward it, or share it with others who might like it.

Friday, December 16, 2011

Week 33 contest to win a Cousins Subs gift card



Welcome to my week 33 contest. This week guess the total points of the Packers Chiefs game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 33 your prediction.

One winner whoever guesses the closest will win a $10 Cousins gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday December 18th.

I picked out a couple of excellent homes to see in Greenville

First up is an Open house from 11 to 12
At W7285 Midnight Way
This home is a brand new construction 3 bedrooms with 2 baths with an attached 3 car garage and is 1711 sq ft.
Listing price $234,900

Next is an Open House in Greenville from 12:30 to 1:30
at W7246 Dover Ct
This home has 3 beds with 2 baths is 1623 sq ft with an attached 3 car garage
Listing price $210,000

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting

Thursday, December 15, 2011

Helpful tips on the home buying process

I will be putting together a video series of helpful tips on the Wiscon home buying process and information on your Wisconsin mortgage process. If you have a particular question or topic you would like to know more about give me a call at (920) 788-9608 or email me rmeyer@gsf-mortgage.com

http://www.getapprovedfast.com/index.asp?pid=81

Friday, December 9, 2011

Week 32 Packers vs. Raiders to win a Dairy Queen gift card.



Hi

I’m Ron Meyer and I’m a mortgage loan consultant with GSF Mortgage in Little Chute, WI.

Welcome to my week 32 contest. This week guess the total points of the Packers Raiders game. Goto gsfron on facebook select like at the top of the page and post in the comments section under week 31 your prediction.

One winner whoever guesses the closest will win a $10 Dairy Queen gift card. Only 1 entry per person and all entries must be received before the start of the game.

Alright let’s get to this weeks open houses on Sunday December 11th.

I picked out a couple of excellent homes to see in the area

First up is an Open house in Neenah from 11 to 1
At 187 Villa Dr
This home has 3 bedrooms with 2 baths with an attached 2 1/2 car garage and is 1724 sq ft.
Listing price $149,900

Next is an Open House in Neenah from 12:30 to 1:30
at 425 Lowell Pl
This home has 3 beds with 2 baths is 1420 sq ft with an attached 2 car garage
Listing price $129,900

If you are a home seller or real estate agent and have a great open house coming up, contact me today to have your home featured in an upcoming edition.

I hope you found this information helpful. If you know of others who would like this information, please email, forward or share it with them.

Have a great weekend and Happy House Hunting