Andre Taylor at Guaranteed Rate Affinity NMLS# 1427777

10/23/2024

. One of the questions I have been receiving are about financing options for assistance with recover. I have attached a link to the FHA 203(h) Mortgage Insurance for Disaster Victims. This could be a great option for indivduals that need to rebuild.

Section 203(h) Mortgage Insurance for Disaster Victims:
• You must own a one-family home damaged or destroyed in a presidentially declared disaster, and
• This must be your primary home.
• No Down Payment Requirement: One of the most significant benefits of the 203(h) loan is the 100% financing option, meaning borrowers do not need to make a down payment
• Can be used for purchase money if you don’t want to rebuild
• Loan limit – $498,257
• The 203(k) Program has options for repair and remodeling of minor or non-structural items such as plumbing, heating, AC, electrical systems, roofing, or installing new appliances or smoke detectors, as well as extensive renovations including structural changes or additions.

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07/31/2024

Can the seller pay 3% seller concession and 3% towards the buyer commission?? How does the NAR settlement impact Interest Third Party Contributions? This conversation came up today in the office and I want to get some feedback and provide what I think the correct answer is.....

A: Yes - however, seller concessions will be limited to applicable Investor limits, unless Investor Guidelines specifically exclude the seller’s payment of buyer-broker charges as a seller concession. Prior to the NAR ruling, agent commissions were not traditionally considered a closing cost from a buyer's perspective due to NAR's cooperative compensation structure, which obligated the seller to pay both the seller and buyer agent commissions through the listing agreement. Now, if the seller does not contract directly with the seller/buyer agent to pay the commissions, then the buyer realtor commission fees would be considered a closing cost from the buyer's perspective and to the extent the seller subsequently agrees to pay this cost, the credit would be subject to each investor's seller concession limits, unless Investor Guidelines dictate differently. Therefore, it is recommended that if the seller is going to pay for the buyer agent’s commissions, the seller should continue to contract directly with the agents through the listing agreement to avoid the seller paid commissions from becoming interested party contributions.

05/13/2024

If you have a first time homebuyer and they live in a Metropolitan Statistically Area (MSA), they are eligible for a $5000 grant from Fannie Mae and GRA will give up to 1% of loan amount towards closing cost. No income restrictions. Give me a call today!!

With $5,000 down payment or closing cost assistance and free homeownership education, HomeReady First lowers barriers for creditworthy first-time homebuyers. Borrowers may also receive additional benefits such as a title credit, appraisal reimbursement and one-year home warranty reimbursement.

12/22/2022

We hope your holiday season is filled with the most festive of ugly sweater parties, lots of time to re-watch your favorite holiday classics and all the cocoa-sipping, cookie-baking your heart desires.

12/21/2022

Even though existing-home sales were down in November, so were mortgage rates and home prices, which is good news for buyers. http://ms.spr.ly/6188eZltg

12/21/2022

Whether your idea of winter is filled with fresh powdery snow, rosy cheeks and lacing up your warmest boots, or winter for you just means more time on the beach, we’re wishing you the best.

12/20/2022

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12/19/2022

12/16/2022

Never underestimate a fresh coat of paint. If you’re hosting the holidays this year and feeling like your home could use a little sprucing up, a paint project could be just the thing.

12/15/2022

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12/14/2022

Forget what you’ve always heard about happy homebuyers flocking to purchase their dream homes in the spring and summer. Find out why winter is a great time to buy your home. http://ms.spr.ly/6185erpjR

12/13/2022

This holiday season, we’re crossing items off your wish list. From our FastTrack* that will get you to the closing table in as fast as 10 days** to our local home loan experts, you’ll be home in no time at all. Get home fast: http://ms.spr.ly/6180eR8ke