Posts Tagged ‘Insurance’
RISMEDIA, April 18, 2009-(MCT)
It is, unfortunately, an all-too-familiar news image: An apartment building smolders in the hours after a major fire. Continued 
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Your friend in the real estate business,
Shelli Dore
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.
From my lender friend Mark Afman
www.MarkAfman.com
CHFA (Colorado Housing and Finance Authority) http://www.chfainfo.com/ has been working hard to make their program more competitive. This includes dropping some of their programs altogether. They are now going to combine their 2 main programs to benefit more buyers. This program will be called the CHFA Home Opener.
As of March 2nd, this program will be for 1st timers and non 1st time buyers alike.
There will be no purchase limits.
The income limits are higher then before by a little bit but most importantly, the rates will be more competitive.
The down side of this is that the old “silent 2nd” for the down payment is gone. Now CHFA will still provide a 2nd in the amount of 3% of the 1st mortgage loan amount but buyer’s will have to pay a monthly interest payment equal to the interest of the 1st mortgage.
So if the rate on the first is 6% then that is the rate on the 2nd as well. The 2nd will be a 30 year fixed mortgage just like the 1st. This adds very little to the debt ratio. For example on a $150,000 loan, the 2nd would be $4,500 and at 6% the payment would only add $27.00 to the overall debt ratio. Read on…
Shelli Dore's Real Estate Blog 