Buzz About Sacramento: November 2009

Monday, November 30, 2009

How To Get An FHA Loan

If you are new to Sacramento and wish to buy a new home, then what is most important for you is to borrow a home loan. An individual with a low-to-moderate income has limited options while borrowing a loan from the private lending institutions. This is because the lenders want you to have a lot of money with a high income and a good credit rating. Then what do you do to buy a home when your income and down payment are not very high?

The federal government now comes to your rescue. This government helps people with a low income to realize the dream of owning a home, one of the various programs offered by the federal government is Federal Housing Administration (FHA).

The FHA originated during the Great Depression in the 1930s. The FHA loan is insured against default by the FHA. That is, FHA guarantees a loan lender won’t lose his principal if the borrower fails to return the loan. It is because of this assurance that private lenders are giving large interest loans.

Almost anybody is eligible for FHA loans. To be eligible for FHA loan you will have to have a decent debt-income ratio. If the applicant has low or doesn’t have any credit, then an immediate family member can co-sign on the loan application.

The first step to obtain the FHA loan is to go to a private lender and find out from them if they do FHA loans. The required documentations for FHA loans are:

A history of employment for two years in the same area.
A college graduate can use the final two years in school if working in the field as their area of education.
A credit scores above 620.
If there is no credit history then your telephone bill or rental bill can be used to show a pattern of prompt credit payments.
An ID proof as per the Patriotic Act (Birth Certificate or your driver’s license with a photocopy of the social security card).
Debt ratios must be under 36/46.

The FHA promises to pay lenders if a borrower defaults. For this, FHA charges the borrower a fee. If a borrower defaults, then FHA uses collective insurance premium to pay off the mortgage. FHA loans help people buy homes with a down payment as low as 3%.

The interest rate of an FHA loan can be adjusted yearly based on the market indices that is approved by the FHA and therefore may decrease or increase the term of your loan. The FHA loan program is an attempt by the federal government to help people with low income to own a house.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com
GreatWest Videos: http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens
MySpace GreatWest Blog: http://www.myspace.com/greatwest
Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com
Global Employee Relocation: http://www.employeerelocation.blogspot.com
Apply for a Loan: http://www.choice1funding.com

ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens

ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac

Sacbee http://www.sacbee.com

Company WordPress Site http://www.thehomeholders.com

Real Living http://www.realliving.com

Thursday, November 26, 2009

Buzzing Sacramento

Sacramento has been cited as the “most livable” regions in America by a recent survey. Thanks to the mild climate and beautiful scenery. Single families actively boomed into Sacramento in the past decade. The real estate business was on an all time high. But with the economic slowdown, like all businesses even the real estate suffered a heavy blow. Buying and selling of houses began to decline.

With the recovery of the economy, every business is bouncing back and real estate is not far behind. The recent Sacramento Property Management Report statistics showed a rise from 8.5% to 11% in real estate business.

Still thinking about that dream home you always wanted to own in this part of the city? Its time you stop thinking and get into action! With the economy slowly recovering there can be a no better time to invest in property.

There was no change in Sacramento real estate from month to month in October 2009. But the market condition seems to be rumbling under the surface for a while now and this month’s statistics is truly an indication of them. Construction activities have resumed and a lot of companies are getting their projects ready by this Christmas – New Year period.

Undoubtedly, Sacramento is a magnificent venue where real estate will leave an impact on our notoriety. The progress in Sacramento for real estate is simple and understood to be on the top list in providing for new business deals.

In Sacramento, you need a home mortgage to buy a new home. If you have already chosen your dream home, then it is time to learn the details about going into a home loan. When you are about to apply for a home loan, it is very important to check the current interest rates. You have to be aware that the interest rate for your loan will be determined by your credit score. If your credit score is good, then you may be eligible for a lower rate.

The following instructions can be very useful for first time home buyers:

• Prioritize your needs: Before applying for a loan, be clear of your budget and housing needs to get suitable results.

• Register with an online service: from the internet in order to get latest updates and policies on home loans.

• Select suitable properties: With the received information, select a Sacramento property that suits your needs and budget the best.

• Make a thorough comparison: of the selected properties and pick out the best bargain.

• Access the premises: Once you have decided on the house, personally visit the neighborhood and ensure that the house is in good condition and free from back taxes.

• Submit a reasonable offer: Make a fair estimation of the property and submit a reasonable offer to the sellers.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens

ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac

Sacbee http://www.sacbee.com

Company WordPress Site http://www.thehomeholders.com

Real Living http://www.realliving.com

Wednesday, November 25, 2009

Is the Global Slowdown Affecting Animals Too??

Roger, a brown retriever was looking at his little master Ralph’s sad face. Ralph was crying inconsolably as he knew that Roger would soon have to go. Roger had been his friend, playmate for a quite a few years now and he had been part of all secret pacts and missions. But now the fact remained that Ralph had to go…………………

This is a common scenario in most of the homes in Sacramento. People are trying to give up their pets either to their friends or relatives or are abandoning them. Why would any owner do that? Pets are almost like members of family and why would anyone be harsh or cruel to abandon them? Well the answer is simple: Owners are not able to afford raising their pets.

It might sound funny but it is very much true that Recession has affected pets in Sacramento as their longtime owners are not able to provide food to them.
In a bid to improve the situation and help the pets and their owners, the Sacramento City Animal Shelter has launched a unique program which has come as a relief to hundreds of pet owners. Starting from today that is 25th November, the agency has decided to provide free food for pet along with other supplies to the owners of dogs and cats.

Pet owners can get a month’s supply from the agency for their pets. This innovative program is called the “Titanic’s Pantry”. The residents can visit the agency and get the supplies every month if need arises. This is a yearlong program and the agency also has plans to help the pet owners in getting cheap medical attention and vaccination.

According to the manager of Sacramento City Animal Shelter their main aim is to ensure that owners keep their pets with them instead of abandoning them. Over the past year the number of pets seeking shelter with them has increased by over 10% and this gave birth to “Titanic Pantry”. The agency has collected dog and cat food by taking donations from people, businesses and pet stores.

You can visit the agency on weekdays between 11am and 6pm in the evening. On Saturdays they are open from 10am in the morning to 4pm in the evening. This week they will be closed on Thursday and Friday on account of Thanksgiving.
Let’s help the agency grow and support them in their initiative by making donations. Let us spare poor animals from being victims of Recession. Kids of Ralph’s age need pets for companionship. Isn’t it our duty to give them the best??

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com