Posts Tagged ‘mortgage des moines ia’

Home buying with Less than Perfect Credit.

Wednesday, January 26th, 2011

Hello Des Moines, IA Mortgage Readers!

So far in our steps to landing that Iowa home loan we have looked at taking care of your total debt, finding out how much you can afford, and searching for the right loan program for you. Today we’ll discuss how to get a mortgage in Des Moines, IA even if you have less than perfect credit.

In today’s world many people find themselves struggling to stay on top of bills which can cause financial discomfort and possibly some dings here and there on credit scores. Well many lenders and the government have taken that into consideration and there are many programs available to help you get into your Des Moines, IA home. We talked about FHA loans before and how, even with less than perfect credit, you can get a loan up to 97% of the value of your Iowa home purchase. The lesson here is, even if your credit is not perfect that doesn’t mean you can’t get the Iowa home your looking at. Call your local Iowa mortgage broker and see what rates are available for your exact situation.

-Dan

www.sayhalo.com

Tags: , , , , , ,
Posted in Uncategorized | 5 Comments »

Homebuyers (Part III)

Monday, January 24th, 2011

Des Moines, IA mortgage Readers!

So for part three of our home buyer tips we will talk about shopping for the right home loan in Des Moines.

First you should know that there are many different options out there and a lot of them will depend on how much you can afford. For example there are lows now where a 3% downpayment is acceptable as long as you have a steady job and good credit. Although the more money you can come up with for a downpayment, the more options you will have loan wise.  There are some programs where you can pay 10% down and not have to pay mortgage insurance on your mortgage in Des  Moines, IA. Instead they would wrap the cost of MI into your interest rate which would make it tax deductable. So once you have figure out just how much you can scramble together for a down payment, you can begin shopping around for the best home loan in Iowa that will benefit you. As long as you have your figures right and do some shopping for the right program, getting a Des Moines, IA home should be a piece of cake.

-Dan

www.sayhalo.com

Tags: , , , ,
Posted in Uncategorized | No Comments »

Hey Iowa Homebuyers!

Monday, January 10th, 2011

Hello there Des Moines, IA mortgage readers!

Thinking about getting a home loan in Des Moines? Well in the next few posts we will be walking through some tips and things to keep in mind during the whole process.

First we’re going to take a look at existing debt. If you’re starting to save for a down payment on Des Moines, IA homes than stop. Stop. Stop because you first need to take a look at any current debt you may have. Especially credit card debt since it can be very expensive over time. Why pay off the debt before getting into a home loan in Des Moines? Well it’s pretty easy, you want to get rid of existing debt if you can becuase it will help you save more money in the long run. Lori Vella, Senior Vice President of national lending for Washington Mutual, says that even though you won’t have as much of a down payment it makes sense to use cash on hand to pay off credit card debt. Another reason to pay off debt before trying to work your way into a mortgage in Des Moines, IA is because the more debt you have, the less lenders are willing to work with you. Lenders won’t give you access to the funds you need if your debt ratio is too high. Basically if you can lower the amount of money you owe, you’ll be more likely to get the funds your requesting for your Iowa home loan.

-Dan

www.sayhalo.com

Tags: , , ,
Posted in Uncategorized | 10 Comments »

“It’s a bird! It’s a plane. No, it’s your new home!”

Thursday, January 6th, 2011

Hello Des Moines, IA Mortgage readers!

So as everyone can see rates on a Des Moines, IA mortgage are higher than they were two months ago. Rates are still sitting fairly low with the national average around 4.86% for a 30 year fixed loan according to Freddie Mac’s weekly survey. Rates are projected to sit between 5% and 6% throughout 2011. What this means is the market will shift from the refinance boom in 2010 back to purchases for 2011.

There may not always be incentives for refinancing, but if you’re a renter now and thinking about getting a home loan in Des Moines, Ia you will find most people will tell you it’s worth it. If you think about how much money you’re spending on a rental property per year compared to putting equity into a property you own it’s a no brainer. Rates may be back to the norm but the benefits of buying are there. For example, your payments toward rent are not tax deductable, where as your monthly mortgage in Des Moines, IA is. That is money in your pocket at the end of the day. Also with a home loan in Des Moines, IA you can rely on the stable market and use lenders money to invest in a property that will likely appreciate. There are many pros to purchasing and even though rates are rising back to where they used to be, you have to consider all the benefits of buying, then all you have to do is pick out your new Des Moines, IA Home. Good Luck.

-Dan

www.sayhalo.com

Tags: , ,
Posted in Uncategorized | 5 Comments »

5 tips for homebuyers during the recession.

Thursday, December 30th, 2010

Hey Des Moines, Ia mortgage readers!!

Well I have been skimming through article after article to hear some of the professional opinions on what is believed to be the most useful tips for getting a mortgage in Des Moines, Ia and buying a home in today’s market. After doing some research these five seemed to be the tips mentioned the most.

1. Research your local market. This is one of those situations where you can’t just look at the big picture. Keep in mind that even though a seller may be eager to sell their home, it’s not necessarily a bargain. Your main objective here is to look at the prices in front of you and determine if they are high or low compared to other Iowa homes for sale in your area.

2. Weed out the desperate and eager sellers in your area. If you’re going to get an Iowa mortgage it would make sense to do some local shopping and determine who is more willing to negotiate pricing. Also be aware that when you call a listing phone number you’re probably talking to the selling agent who is trying to get the most profit out of the property, but at the same time may be more than ready to negotiate in this market.

3. Let your realtor know you expect them to work to keep your business. If that means using new creative ways to sell the home and being more aggressive with sellers than so be it. Also you can help them out by simply being pre-approved for an Iowa home loan, it will help them know just how aggressive they should be.

4. Details. There are hundreds of tiny little details when buying Des Moines, Ia homes. You have to remember that you are not the only one looking for a good deal, so make sure when you find one, all of your ducks are in a row.

5. Make sure you take an extra close look at the title. If there are judgemenst against the home you will want those to be taken care of before you try to purchase it. You do not want to find out about a lien later on down the road.

-Dan Morgan

www.sayhalo.com

Tags: , , ,
Posted in Uncategorized | 2 Comments »

Mortgage tax deduction, the least of Washington’s worries.

Tuesday, December 14th, 2010

Hello Des Moines Ia mortgage readers!

The mortgage tax deduction has been around since 1913 and for many it has been the key to landing the keys to that dream home. Although many people did not start using it until after World War II, today it has become one of the biggest perks for a Des Moines Ia mortgage loan. This deduction allows home owners to write off annual interest of their mortgage which in turn allows more take home pay when all is said and done, and in some  cases that extra income can be exactly what a buyer needs to finally get the home they want.

Washington wants to take the deduction away and bring the new amount to a flat 12% of the mortgage interest for home owners. The reason? A projected 104 Billion dollars for deductions in 2011. Obviously a lot of people are upset about this. The government wants to take away a perfectly sound tax deduction that has been around for nearly 100 years because it is costing too much? Maybe before upsetting millions of home owners the government should look for the real problem. The removal of the tax deduction would create more income for our government, the only problem is our government does not need more income. The government does not have an income problem, they have a spending problem. When the government can show some responsibility with taxpayer money people may consider supporting amendments to the deduction. Until then there are not many fans of the possible changes. A change in the policy may cause that family to miss out on a mortgage in Des Moines Ia and all around the country.  Stay tuned, it’s kind of a big deal.

-Dan

www.sayhalo.com

Tags: ,
Posted in Uncategorized | 8 Comments »

5 reasons to buy in Iowa.

Monday, December 13th, 2010

Good morning Des Moines Ia Mortgage Readers!

1. Home prices have been at national record lows throughout 2010 which means if you shop around you can probably find some great deals. A mortgage in Des Moines Ia is going to be a lot more stable than our coastal friends because of Iowa’s housing market. The  low home prices obviously help when aiming for high value in your purchase, and that’s key.

2. Government regulations. Half the reason we are in this foreclosure mess right now is because lenders were allowing irresponsible loan officers to “cheat” on forms and approve people for loans they could not afford or understand. Well today that’s A LOT different. There are new forms, laws and regulations that keep loan officers honest and make understanding loans easier for the everyday homebuyer. It’s all about you now.

3.  A home loan in Des Moines Ia is  easy to shop for since our city is a bit smaller than New York or L.A. You still have many options here. There are always the big banks with the cookie cutter loans and then there are small banks and brokers who can give you a more custom loan for your situation. Don’t always settle for the first offer, do some shopping, it could be the difference between happiness and headache.

4. On top of already low housing prices there are many bank owned homes for even less. These banks are looking to get as much as they can as fast as they can. Now these are foreclosure properties so I would recommend spending a little extra cash on an inspection, but in the long run you could save a lot and these low priced homes will have low down payments. Basically, shop around.

5. Interest rates on a Des Moines Ia mortgage are still really low. Not as low as earlier this year but they are still under what they were a year ago. These rates won’t be around forever so if you’re looking to buy now is the time to start shopping. Call a realtor, find that house, call some lenders and Iowa brokers and get on your way to being a home owner.

-Dan Morgan

www.sayhalo.com

Tags: ,
Posted in Uncategorized | 12 Comments »

“Unpredictable market.”

Thursday, December 9th, 2010

Des Moines Ia Mortgage

(The following was take from an article found on RateAlert.com 12/07/2010)

“More heavy selling this morning after rates continued to increase yesterday. Yesterday the 10 yr and mortgage rates jumped 20 basis points and mortgages up 15 basis points. Nothing directly new overnight; interest rates are increasing in Europe, in Japan and China with the US leading the way higher. Some of the recent increases in rates is likely tied to year end adjustments by investors but the majority of it seems to have eluded analysts and economists. Very unusual that there seems to be no one stepping up to try and put some reasoning behind the spike in rates. It is as if it is happening with shock and awe, no consensus or any particular explanation.”

So there’s the BIG picture for the world housing market. Rates jumped without much of an explantion and even though they have improved a little today it goes to show how unpredictable the market can be. Now how is that going to impact our  Iowa mortgage market? Well obviously if rates change in the big picture there’s going to be a ripple effect on the Des Moines, Ia mortgage picture. So rates are going up slowly but there is ONE thing you have to keep in mind when talking mortgage Des Moines, Ia. We have the third lowest foreclosure rate in the U.S. Our market here in Iowa is MUCH more stable than those of the east and west coast. Which means our housing recovery is going to take less and happen faster. It’s not going to happen overnight but according to housingpredictor we are projected to have home values raise by 5.7% by the end of 2010. If you look at other markets and compare it’s easy to see that the Des Moines, Ia mortgage business is better off than a lot of other cities. You also have to keep in mind that Des Moines is booming with business. Forbes named Des Moines the number city for business in 2010, not too bad huh?  So generally keep in mind even when you hear big city markets are not doing so well, here in Iowa our market is a little more stable.

-Dan Morgan

www.sayhalo.com

Tags: , ,
Posted in Uncategorized | 1 Comment »