Hello, I wanted to put this Investor Home Purchase Loan Options to help Investment Home Buyers. So they can view the details of a little known investor purchase strategy called the "seller buydown"-SBD and that we can create a specific game tailored to their needs when purchasing an investment property in today's market.
Hello: Looking to purchase a Second Home in Florida? What are the rates up to ?! - - I wanted to get this information together to help my clients purchase these Second Homes again; if you are not aware, these loans took a massive blow from FNMA in January 2022, when they released a recent fee change to these loans. - Here is the announcement - https://singlefamily.fanniemae.com/media/30326/display - Essentially they have significantly increased the costs associated with purchasing a second home with a conventional loan. Even if the client is okay with the higher costs, they still could not purchase them, because those higher costs now trigger high-cost compliance laws within the banks. So, we can't do these loans, especially when they are above 726K as a loan amount or what they call High Balance Loans. But, I want to show you a way we could in this market. - I have included the Second Home Conventional Loan Purchase options with as little as 10% down for your review. You will see the most affordable options in today's market by using a little known purchase strategy called the "seller buydown" (SBD). Please see the total cost anlysis and resource links below. - Upon your review, please call my office at 386-301-7965, so we can discuss your exact needs and to answer any questions you may have. Rates move daily so if something catches your eye let’s discuss very quickly. ------------------------------------------------ These are LOW RATES!!! You can see more about me now at http://www.KesslerHomeLoans.com or AT MY ONLINE APPLICATION - http://www.MyMortgageGuyTOM.com I look forward to working with you. Thank You, Thomas Ooten ------------------------------------------------ IMPORTANT RESOURCES: ------------------------------------------------ How To Make Second Homes Affordable https://homeloansbythomasooten.com/presentation/41265/ -------------------------------- Do You Have to Pay Taxes on Vacation Home Rental Income? | 2nd Homes https://www.homeloansbythomasooten.com/resource/60184 -------------------------------- Investment Property Resource Center | Know Your Strategy https://www.homeloansbythomasooten.com/resource/45184/ -------------------------------- -------------------------------- When is Mortgage Interest Tax Deductible? https://homeloansbythomasooten.com/resource/60432/ -------------------------------- How to Calculate the After-Tax Cost of Your Mortgage | True Interest Rate https://homeloansbythomasooten.com/resource/58222/ -------------------------------- How the 2023 IRS Inflation Adjustments May Impact You https://homeloansbythomasooten.com/resource/48471/ -------------------------------- Your Total Saving Analysis Report -click here or the pic below - https://mcedge.tv/6jvqqt
MARKET UPDATE - What's going on and why does it matter? . . . Todays's Rates https://www.kesslerhomeloans.com/todays-rates/ . Mortgage Market Indices- OBMMI™ provides the most comprehensive, accurate, timely, and interactive analysis of pricing ever conducted in the mortgage industry. https://www.kesslerhomeloans.com/mortgage-market-indices/ . . Kessler Daily Bond Market Update https://www.homeloansbythomasooten.com/resource/41074 . . Direct Link - DAILY BOND MARKET UPDATE: http://ow.ly/OG5i50LpwM2 . . Also, Be sure to check out the Kessler Housing Market Update(s): https://www.homeloansbythomasooten.com/resource/42586/ . . Please let me know if I can be a resource to you. Thank you Thomas Ooten
Hello, Are you buying a home soon or a Listing Agent that might be wary of accepting an FHA loan? Then you'll need to look over the content below because FHA is poised to take market share. As a buyer, you need to rerun your numbers if you're looking for a home and considering using a Conventional loan because of all of the adjustments to costs & fees that FHA & FHFA (Federal Housing Finance Agency) have added and subtracted to potential homebuyers. I've run some comparisons in the videos below to help you compare Conventional To FHA Loans with similar qualifications. If you have yet to see the info about the FHA reducing their Annual MIP, below is the information to review. ...................................... Listing Agents ⚡️ If you are a Listing Agent, I've laid out ways to navigate FHA offers that could be less troublesome for you and your seller, especially regarding appraisal reports. ...................................... Buyers Agent ⚡️ If you're a Buyer's Agent, I have some great information you can share to help your buyers create more affordable housing and regain some lost buying power using an FHA loan. ..................................... If you missed it, here is the HUD announcement about reducing their Annual MIP for their borrowers. ⬇️ ➡️ FHA MIP Announcement - https://www.homeloansbythomasooten.com/presentation/68624/
BIG NEWS for first-time homebuyers from HUD! The U.S. Department of Housing & Urban Development (HUD), through the Federal Housing Administration (FHA), has announced a 30-basis-point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who obtain an FHA-insured mortgage. The monthly mortgage insurance (MIP) will be reduced from 0.85% to 0.55% for most homebuyers seeking an FHA-insured mortgage, which could mean an estimated savings of $678 million for American families in aggregate by the end of 2023 alone. The reduction will benefit an estimated 850,000 borrowers over the coming year, saving these families an average of $800 annually. If you’re interested in more info, DM me “FHA,” and I’ll get you a comparison of side-by-side loan options to see if FHA is a better way to buy a home! ---------------------------- Details from HUD Release: “The 30 basis point annual MIP reduction will apply to almost all Single Family Title II forward mortgages insured by FHA. Further, the reduction applies to all eligible property types, including single family homes, condominiums, and manufactured homes, all eligible loan-to-value ratios, and all eligible base loan amounts. The average FHA borrower purchasing a one-unit single family home with a $265,000 mortgage will save approximately $800 this year as a result of FHA’s premium reduction. For the same borrower with a mortgage of $467,700 – the national median home price as of December 2022 – FHA’s annual MIP reduction will save them more than $1,400 in the first year of their mortgage. In addition to providing overall savings to borrowers, a lower annual MIP can also help more people qualify for a mortgage.” The annual mortgage insurance premium reductions are noted in the table below and are effective for mortgages endorsed for insurance by FHA on or after March 20, 2023.
Hello, Suppose you are viewing the video above or reading this message here. In that case, we have a mutual client or friend who wanted to pass along some housing information that might help you enter or move up in the housing market. If you're planning your first purchase or moving up, what would be a roadblock keeping you from obtaining that goal? ....................... First Time Home Buyer? Given that we have not had the opportunity to meet yet, I thought I'd lay out a few options to give you some background of ideas and strategies our clients have used successfully in this complex market. 1. Understanding The Numbers * Here is an introductory presentation to show you what I use to illustrate those details when we meet. * Video - https://mcedge.tv/8tr6r6 2. Helping Create Affordable Housing * Here is a presentation detailing how we can create affordable housing payments for your new purchase. * Video - https://www.homeloansbythomasooten.com/presentation/50736/ 3. Not Sure If You Should Wait To Purchase? * Here is a presentation that lists five reasons why I think it's an excellent time to purchase now vs. waiting. * Video - https://www.homeloansbythomasooten.com/presentation/49545/
⬆️⬆️⬆️ WATCH VIDEO ⬆️⬆️⬆️ Fannie Mae & Freddie Mac have recently introduced Loan Level Pricing Adjustments. That announcement can be found here ➡️ https://singlefamily.fanniemae.com/media/33241/display You may be wondering: ✅ What Are Loan Level Pricing Adjustments? ✅ Who Do They Affect? ✅ How Can I Prepare To Buy A House? ✅ HomeReady & HomePossible Programs plus 100-120% AMI PDF One Page Resource guide in the sidebar. Explore the Area Median Income Guidelines by address: Fannie Mae HomeReady - https://ami-lookup-tool.fanniemae.com/amilookuptool/ Freddie Mac HomePossible - https://sf.freddiemac.com/working-with-us/affordable-lending/home-possible-eligibility-map
Hello Buyer Agent, I wanted to get some educational content together to help Buyers Agents with their buyers, in particular, with affordability and strategies to help them get into the housing market. .................................... First-Time Home Buyer | Move-Up Buyer https://www.homeloansbythomasooten.com/presentations/ *This video is about primary education for first-time home buyers and Move-Up Buyers ..................................... Rate Buydown Guide https://www.homeloansbythomasooten.com/presentation/50736/ * This video is very detailed with content and videos to help buyers understand rate buydowns. .................................... Submitting Offers With Your TCAs https://www.homeloansbythomasooten.com/presentation/43395 *This video has been edited to remove personal info and shows how we submit offers for our buyers in a tight inventory market. .................................... Top 5 Reasons To Buy Now https://www.homeloansbythomasooten.com/presentation/49545/ * This video highlights the reasons a buyer should not wait to purchase a home today (buyers' market vs. seller's market & buy down strategies )
Hello, Suppose you are viewing the video above or reading this message here. In that case, we have a mutual client or friend who wanted to pass along some housing information that might help you enter or move up in the housing market. If you're planning your first purchase or moving up, what would be a roadblock keeping you from obtaining that goal? ....................... First Time Home Buyer or Move-Up Buyer? Given that we have not had the opportunity to meet yet, I thought I'd lay out a few options to give you some background of ideas and strategies our clients have used successfully in this complex market. 1. Understanding The Numbers * Here is an introductory presentation to show you what I use to illustrate those details when we meet. * Video - https://mcedge.tv/8tr6r6 2. Helping Create Affordable Housing * Here is a presentation detailing how we can create affordable housing payments for your new purchase. * Video - https://www.homeloansbythomasooten.com/presentation/50736/ 3. Not Sure If You Should Wait To Purchase? * Here is a presentation that lists five reasons why I think it's an excellent time to purchase now vs. waiting. * Video - https://www.homeloansbythomasooten.com/presentation/49545/
. . . . . . . . Check out the Kessler Daily Bond Market Update: https://thomasooten.lenderlaunchpad.com/resource/41074/ . . Other Resources for your review: . . Five Things That Impact Your Credit Scores | Do You Want to Know About Credit Scores and More? https://www.homeloansbythomasooten.com/resource/42607/ . . Kessler Housing Market Update with Thomas Ooten https://www.homeloansbythomasooten.com/resource/42586/ . . Thank You, Thomas Ooten
online version: https://app.momentifi.com/share/2005/207
Hello, Modernizing your open house will be critical to running and pushing excellent content to potential consumers and buyers as the market shifts, and inventory builds. Each Property has its own story, from needing some " TLC " or help increasing the affordability to potential buyers in today's expensive housing market. I have combined a sample of technology I use in Lender Launchpad and mixed it with content & strategies from my financing background. That enables me to help get valuable information to more buyers or agents who might be passing or thinking about stopping by your open house. ..................................................................... 4-Step Process For Your Next Open House. Step 1: Input property into Listings @ Home Loans By Thomas Ooten Step 2: Add specific content to help educate potential buyers. ( like Total Cost Analysis videos, Virtual Tours, Agent Video with property details, Loan Program PDFs to download, Matterport Videos, etc. ) Step 3: Publish the listing, which generates its unique property site, which can be used for active listing, coming soon, FSBO, etc. Example Property Site - https://www.homeloansbythomasooten.com/listing/5555-sample-street-sarasota-fl-34231 Step 4: A Open House Flyer is automatically generated to support your next open house. ( the QR code points to your unique property site and pushes content to the potential buyers or agent's phone when scanned )
Six months ago rates were lower… but buyers oftentimes had to outbid someone to get that home they wanted! Today, you’ve got higher rates, but it’s much easier to have an offer at or even below list price accepted. Take a look at the difference in payment when comparing buying now to six months ago! ------------------------------------------------------------------ In the previous year, it was a sellers market with limited inventory, multiple offers, contigency waivers (no appraisal, no inpsection) and most offers had to be over asking price just to get the offer accepted by the seller side. This year has transitioned into more of a buyers market where you can maintain your contingecies (such as inspection and appraisal, etc) while potentially getting seller concessions for closing costs or an interest rate buy down strategy. Also, there is more inventory available with less competition in todays market compared to last year! Below shows a comparison for a home listed at $349,900. Last year's rates were lower but you may have had to offer $56,000 over list price to compete! For the exact same home this year, even with higher mortage rates, you may be able to offer less or create and offer with seller concessions for closing costs or an interest rate buy down strategy! *You can see the monthly payment difference is only $11.00! Buyers, What are you waiting for? Ask me about the Hyrid Buy Down Offer Strategy to get a below market interest rate when buying a home! ---------------------------------------------------------- *Check out the First-Time Home Buyer Resource | Know Your Options- https://www.homeloansbythomasooten.com/resource/45208/ *Check out the RATE BUYDOWN GUIDE- Your Guide to finding the right buydown stategy: https://www.homeloansbythomasooten.com/presentation/50736
FHFA Announces Conforming Loan Limit Values for 2023 The baseline Conforming Loan Limit Will Increase to $726,200 FOR IMMEDIATE RELEASE 11/29/2022 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022. National Baseline The Housing and Economic Recovery Act (HERA) requires that the baseline CLL for the Enterprises be adjusted each year to reflect the average U.S. home price change. Earlier today, FHFA published its third quarter 2022 FHFA House Price Index® (FHFA HPI®) report, which includes statistics for the average U.S. home value increase over the last four quarters. According to the nominal, seasonally adjusted, expanded-data FHFA HPI, house prices increased 12.21 percent, on average, between the third quarters of 2021 and 2022. Therefore, the baseline CLL in 2023 will increase by the same percentage. High-Cost Areas For areas where 115 percent of the local median home value exceeds the baseline conforming loan limit, the applicable loan limit will be higher than the baseline loan limit. HERA establishes the high-cost area limit in those areas as a multiple of the area median home value while setting the ceiling at 150 percent of the baseline limit. Median home values generally increased in high-cost areas in 2022, which increased their CLL. The new ceiling loan limit for one-unit properties will be $1,089,300, 150 percent of $726,200. Special statutory provisions establish different loan limits for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. In these areas, the baseline loan limit will be $1,089,300 for one-unit properties. Why And How Much They Increase Each Year The Housing and Economic Recovery Act of 2008 (HERA) requires that the baseline conforming loan limit (CLL) value be adjusted each year to reflect the changes in the national average home price. HERA specifies that the Federal Housing Finance Agency (FHFA) “establish and maintain” an index for tracking average home prices for this purpose. In May 2015, FHFA published a Notice and Request for Input announcing its plans to use the nominal, seasonally adjusted, expanded-data FHFA House Price Index (HPI) for this purpose.1 Having received generally favorable feedback to the announcement, in October 2015, FHFA published a Final Notice declaring that it would follow the original plan.
Hello, If you're a buyer trying to purchase in today's market, you might have heard of a "rate buydown." But, you might be like most consumers with how they work, which one to select and why it would benefit you and your family. What Is a Buydown? A buydown is a mortgage financing technique with which the buyer attempts to obtain a lower interest rate for at least the first few years of the mortgage or possibly its entire life. 1 A 2-1 buydown, for example, is a specific type of mortgage buydown that allows homebuyers to save on their interest rate for the first two years of the loan. Buydowns can also use a 3-2-1 structure as well. 3-2-1 Buydown? In a 3-2-1 buydown, the buyer pays lower payments on the loan for the first three years. For each of the first three years of the mortgage, the buyer's interest rate would increase incrementally by 1% annually. The total interest rate would apply beginning with the fourth year of the mortgage loan. While the buyer received savings from the lower interest rate in the first three years, the difference in the payments would have been made by the seller to the lender as a subsidy. 2-1 Buydown? A 2-1 buydown is structured the same as a 3-2-1 buydown; however, its discount is only available for the first two years. So you would have a 2% interest rate reduction for the first year of the mortgage, then a 1% discount for the second year. Your interest rate and monthly payments would increase until your loan reaches its actual percentage rate. This happens in year three of the loan. At this point, your monthly mortgage payment would reflect the real loan rate. You would pay upfront for the 2-1 buydown at closing; theoretically, the money you save over the first two years would cancel that payment. Temp Buydown Pros and Cons Whether it makes sense to use a buydown to purchase a home can depend on several things, including the amount of the mortgage, your initial interest rate, the amount you could save in interest over the initial loan term, and your estimated future income. How long you plan to stay in the home also can come into play in determining your break-even point. Pros * A buydown temporarily reduces your interest rate, saving money and lowering your monthly payments during the initial loan term. * Choosing a buydown may allow you to pay less for the home than the seller's listing price. * It could make sense for homebuyers whose income will increase in the years to come. Cons * Once the buydown rate ends, your monthly payment could be higher than expected. * You could struggle with monthly mortgage payments if your income doesn't increase. .................................................................................................................................................................................................................... Attn: Realtors Buydowns for Open Houses: Do you have an Open House Coming Soon? If so, let's get Buydown options out to potential buyers ( see PDF Flyer attached ) You can view the Open House Property here - https://www.homeloansbythomasooten.com/listing/5555-sample-street-sarasota-fl-34231 Buyer Motivation: Do you have Buyers that have left the market until the following year? If so, I have built an excellent presentation explaining why I think it's a great time to purchase now vs. next year. You can view that here - https://www.homeloansbythomasooten.com/presentation/49545/
Hi! The real estate market is shifting due to the higher rate environment, and as a result, it is producing some positive benefits for potential home buyers. The good news with this shift is that buyers can have choices with their real estate transactions. Does a buyer focus on the sales price or does the buyer focus on the interest rate. I wanted to put this video together for potential buyers and sellers to rethink some strategies they might think would yield positive results for them. But, as you will find out, the results are the exact opposite of what you might think about purchasing or selling real estate, especially if you use financing to obtain that asset. SELLER BUY DOWN The shift is allowing buyers to be strategic with their offers which can yield massive benefits to affordability. I want to focus on the Seller By Down to help you; this will enable me to structure financing to reduce rate, which reduces payment and increases affordability. But, it needs to be set up correctly on the purchase contract and internally within the bank so that it doesn't trigger predatory and high-cost lending laws. ---------------------------------------- Your Guide To Help You Select The Correct Buydown Program: https://www.homeloansbythomasooten.com/presentation/50736/
This illustrates the difference of buying a home 6 to 9 months ago vs buying a home today. ---------------------------------------------------------- In the previous year, it was a sellers market with limited inventory, multiple offers, contigency waivers (no appraisal, no inpsection) and most offers had to be over asking price just to get the offer accepted by the seller side. This year has transitioned into more of a buyers market where you can maintain your contingecies (such as inspection and appraisal, etc) while potentially getting seller concessions for closing costs or an interest rate buy down strategy. Also, there is more inventory available with less competition in todays market compared to last year! Below shows a comparison for a home listed at $450,000. Last year's rates were lower but you may have had to offer $50,000 over list price to compete! For the exact same home this year, even with higher mortage rates, you may be able to offer $25,000 less or create and offer with seller concessions for closing costs or an interest rate buy down strategy! *You can see the monthly payment difference is only $137.58!! Buyers, What are you waiting for? Ask me about the Hyrid Buy Down Offer Strategy to get a below market interest rate when buying a home! ---------------------------------------------------------- *Check out the RATE BUYDOWN GUIDE- Your Guide to finding the right buydown stategy: https://www.homeloansbythomasooten.com/presentation/50736
Hello, If you're a buyer trying to purchase in today's market, you might have heard of a "rate buydown." But, you might be like most consumers with how they work, which one to select and why it would benefit you and your family. What Is a Buydown? A buydown is a mortgage financing technique with which the buyer attempts to obtain a lower interest rate for at least the first few years of the mortgage or possibly its entire life. 1 A 2-1 buydown, for example, is a specific type of mortgage buydown that allows homebuyers to save on their interest rate for the first two years of the loan. Buydowns can also use a 3-2-1 structure as well. 3-2-1 Buydown? In a 3-2-1 buydown, the buyer pays lower payments on the loan for the first three years. For each of the first three years of the mortgage, the buyer's interest rate would increase incrementally by 1% annually. The total interest rate would apply beginning with the fourth year of the mortgage loan. While the buyer received savings from the lower interest rate in the first three years, the difference in the payments would have been made by the seller to the lender as a subsidy. 2-1 Buydown? A 2-1 buydown is structured the same as a 3-2-1 buydown; however, its discount is only available for the first two years. So you would have a 2% interest rate reduction for the first year of the mortgage, then a 1% discount for the second year. Your interest rate and monthly payments would increase until your loan reaches its actual percentage rate. This happens in year three of the loan. At this point, your monthly mortgage payment would reflect the real loan rate. You would pay upfront for the 2-1 buydown at closing; theoretically, the money you save over the first two years would cancel that payment. Temp Buydown Pros and Cons Whether it makes sense to use a buydown to purchase a home can depend on several things, including the amount of the mortgage, your initial interest rate, the amount you could save in interest over the initial loan term, and your estimated future income. How long you plan to stay in the home also can come into play in determining your break-even point. Pros * A buydown temporarily reduces your interest rate, saving money and lowering your monthly payments during the initial loan term. * Choosing a buydown may allow you to pay less for the home than the seller's listing price. * It could make sense for homebuyers whose income will increase in the years to come. Cons * Once the buydown rate ends, your monthly payment could be higher than expected. * You could struggle with monthly mortgage payments if your income doesn't increase. .................................................................................................................................................................................................................... Attn: Realtors Buydowns for Open Houses: Do you have an Open House Coming Soon? If so, let's get Buydown options out to potential buyers ( see PDF Flyer attached ) You can view the Open House Property here - https://www.homeloansbythomasooten.com/listing/5555-sample-street-sarasota-fl-34231 Buyer Motivation: Do you have Buyers that have left the market until the following year? If so, I have built an excellent presentation explaining why I think it's a great time to purchase now vs. next year. You can view that here - https://www.homeloansbythomasooten.com/presentation/49545/
Hello, As expected, the Feds increased rates again by .75%, so let's relook at what that means to you and how to protect your family moving forward. So far, the Fed's rate hikes in 2022 have increased by a combined 3.5 percentage points — which means your monthly payment has more than doubled on your equity line and spiked excessively on your bank credit cards ( avg rate is now 19% ). This is where the Fed hikes are causing the most pain to the consumers. ......................................... What Moved? Feds move "short-term " rates, which would be your credit cards and equity lines of credit. What most think they moved is long-term debt, which are mortgages, which they can't directly unless they buy or sell mortgage-back securities. ......................................... Why They Moved Them? They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing. ......................................... How Long Do They Plan To Increase Rates? They will do it as long as there is inflation in our economy, which could be into 2023 now. ......................................... How do you protect yourself? This is where we need to think things out and create a plan for you and your family. Because until now, most consumers have not felt those rate hikes, but with all of the .75% rate hikes piling up, your payments have spiked with what short-term debt you have open and has become a problem now. ......................................... The videos on the sidebar show you a Two-Step Plan for turning bad debt into good debt. The second step is to prepare you if we move into a recession in 2023, so we can be ready to take advantage if it presents itself.
Hello, Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice. The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer. In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude. For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19. The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months. ........................................... Six Months Ago vs. Today Six Months Ago: Buyers competed against 10+ offers per property. Buyers had to release all loan, inspection, and appraisal contingencies. Buyers had to convert their loans into " cash offers " to compete. Buyers had to overbid on their offers to compete. Buyers had to settle on whatever home came on the market. Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment. Today: Few Buyers, which means less competition. Buyers can write offers with and maintain their contingencies. Buyers with minimum down payments can purchase again. Buyers can get fair value or even undervalued properties with their offers. Buyers have more choices of homes than buying whatever comes to market. With help from lenders like myself, we can structure much better terms, like buying down the rate.
online version - https://app.momentifi.com/share/2005/210 . . . . . . Additonal Resource for your review: . . The Gift Tax Myth: How to Navigate Around It | Gift Tax and Down Payment https://www.homeloansbythomasooten.com/resource/42560/
100% FINANCING - NO MONEY DOWN - DISASTER HOME LOANS FOR PURCHASE OR REFINANCE What is the 100% Disaster Home Loan? This is a specialty FHA loan program that provides up to 100% financing to help victims of disasters purchase new properties or rebuild after their homes have been substantially damaged. In 2019 there were over 100 disaster declarations according to data from FEMA, the Federal Emergency Management Agency. Causes included severe winter storms, hurricanes, tornados, flooding, wildfires, and mudslides, among others. 100% Disaster Home Loan Basics • For the purchase or reconstruction of owner-occupied single-family homes. • Up to 100 percent financing available. • Seller paid closing costs permitted, up to 6 percent. • Credit will be manually underwritten. Late payments may be ignored from the underwriting analysis if they take place after the date of the disaster and are found to have been caused by the displacement. • Fully Amortizing Fixed Rate. • 10 year, 15 year, 20 year, 25 year, and 30 year term options. • Single Family Residence, Manufactured, FHA Approved Condos, PUDs. • Primary Residence Only. • What are the benefits? • Available to renters as well as homeowners. • Renters who are displaced by a disaster may be eligible to purchase a new home with 100% financing through this program and exempt from the 3.5% down payment requirement that comes with the standard FHA loan. • Does not need to be used right away. • In the days and weeks immediately following a disaster it may not be possible or prudent to focus on the next steps towards establishing long term housing or homeownership. Thankfully, eligibility for this program begins as soon as the US President declares the disaster and remains for one year from that date of declaration. • Can choose to rebuild or move on. Financing can be used to either rebuild a home that was destroyed, or to buy a new property. Who is eligible for an FHA Disaster Victim Mortgage? To qualify for this program the borrower’s home must have been destroyed or severely damaged and be located within a presidentially declared disaster area. The previous home may have been owned or rented, and the damage must be extensive enough that it must be replaced, rather than simply repaired. It is still necessary for the borrower to be approved for the new loan, and to demonstrate that it will be affordable. Eligibility will be determined by examining the borrowers’ income, assets, liabilities, and credit history and score, as well as the market value and condition of the property to be financed. When rebuilding, the value taken into consideration will be the amount that the home will be worth in the current market once it is complete. Some of the additional requirements include: • Borrower must intend to live in the home as his or her primary residence • The amount borrowed must be within FHA loan limits which vary by county and are higher in parts of the country where real estate is more expensive • 580 minimum FICO score Scenarios where the Disaster Home Loan may be a good option: An FHA disaster victim mortgage can be an excellent option when a home located in a disaster area has been destroyed. Events that can be declared a major disaster include: • Hurricane • Tornado • Severe Storm • High Water • Wind Driven Water • Tidal Wave • Tsunami • Earthquake • Volcanic Eruption • Landslide • Mudslide • Snowstorm • Drought • Fire • Flood • Explosion In the immediate aftermath victims are likely to seek temporary housing such as in an emergency shelter, in a hotel or rental home, or by staying with a friend or family member. In the short term the focus will be on re-establishing their own safety and that of their loved ones. Once the situation is stable attention can be given to figuring out where to live long term. Homeowners whose homes have been destroyed may choose to rebuild. The Disaster Home Loan offers one of very few 100% financing options for home construction. Another option, available to both homeowners and renters who have been displaced, is to purchase a new home. This program benefits not only homeowners but communities as well. When a major disaster hits an area recovery can take a long time. When residents choose to leave and settle somewhere else this can drastically slow recovery. Encouraging victims to remain and commit to rebuilding helps in many different ways. Local businesses can continue to operate as they retain access to employees and customers. Area schools have higher enrollment which means greater funding. In addition, a sense of resiliency and pride in the community is fostered. Buying a home with a Disaster Home Loan home loan This program can be used by first time home buyers or existing homeowners to purchase a new property with no money down. One of the few 100% purchase financing options available, this makes it easier for victims of disasters to become homeowners and have a safe, permanent place to live. Disaster Home Loan Refinancing There is no traditional refinancing option, but existing homeowners can choose to rebuild a home that was destroyed on the lot they currently own. Additional Programs to Consider: When a borrower doesn’t qualify for an Disaster Home Loan, or this program doesn’t meet the needs of their scenario, here are a few other products that may be a good fit: • To finance a home purchase and renovations to the property: FHA 203(k) Standard Loan • For zero money down options: VA Loan, USDA Rural Housing Mortgage • Low down payment mortgage without the displacement requirement: FHA 203(b) Standard Loan PLEASE REACH TO ME IF YOU HAVE ANY QUESTIONS ABOUT THIS PROGRAM. Thank You, Thomas Ooten
. . . . . . . . . . . . . You can check out my other presentations below: Top 5 Reasons Why You Should Purchase Today! https://www.homeloansbythomasooten.com/presentation/49545/ First-Time Home Buyer Options https://www.homeloansbythomasooten.com/presentation/68525/ First Time Home Buyer: Do you know your numbers & options yet? | Home Loan Options https://www.homeloansbythomasooten.com/presentation/43152/ Thank You, Thomas Ooten
Hi, So you are thinking about buying an investment property or increasing your rental portfolio? that is a great idea but do you know your numbers & options in today's market? . . . Check out my Buying an Investment property presentation links below for a detailed analysis about this topic- Buying an Investment Property: Do you know your numbers & options yet? | Investment Property https://homeloansbythomasooten.com/presentation/42498 . Investor Cash Flow Loan Options- DSCR Loan Program https://homeloansbythomasooten.com/presentation/43849 . Please reach out to discuss in detail. I look forward to hearing from you! Thank You, Thomas Ooten
Hi, So you are thinking about paying all cash for your next property? that is a great idea but do you know about The 90-Day Rule for Cash Buyers - Cash Buyers Only Have 90 Days To Get Their Tax Deduction . . . Check out my Cash vs Mortgage TCA presentation link below for a detailed analysis about htis topic- Looking to Pay Cash for the Home? Do a Cash vs Mortgage Analysis | Cash vs Mortgage https://homeloansbythomasooten.com/presentation/42521/ . . Please reach out to discuss in detail. I look forward to hearing from you! Thank You, Thomas Ooten
Hello, As if the market was not tough enough on buyers as it is, now the higher cost and movement up in rates will really knock some buyers out of the market. But, that doesn't have to be the case, as rates and costs increase. This video lays out a game plan for how to utilize the inflation buster buydown strategy that allows options for a buyer in today's market while creating more affordability. You have choices at Kessler Home Loans! Inflation Buster Buy Down - Conventional Inflation Buster Buydown using the Seller Concessions three different ways so that a buyer has many choices in today's market! I wanted to show you how an IBBD works and how the Buyer & Seller can benefit when the IBBD + is structured within a purchase transaction. ( videos below ) Thank You, Thomas Ooten
Hello, Have you recently had, or about to have, that uncomfortable talk about reducing the purchase price? According to Redfin, more and more homes have been price dropped week after week. Let me show you how to be the HERO and make 3 things happen for the seller, buyer, and neighbors. 1. Keep more money in the seller's pocket at closing with a Seller Buy Down instead of a Price Drop 2. Buyers are able to purchase the home with the same monthly mortgage payment both ways. 3. Maintain full asking price and not decrease the value of other homes in the neighborhood. As a Realtor, this will help you stand out from the rest with your active listings and new listing appointments. In turn, helping more clients sell their homes. Call or text me today for more information. Thank You, Thomas Ooten
Hello, I've been saying this for some time now, " the increasing rate is an excellent thing for potential buyers." If you're a potential buyer, you might disagree with me, but I'd like to explain my thoughts on this. I understand as a buyer, you might have exited this housing market with the combination of higher prices and now higher interest rates above, but the higher rates are helping you expedite that reality in masses. Most buyers can't find a decent home but can't afford to purchase it at these interest rate levels. That's about to change; the market is shifting and allowing more homes (not enough to fit our national inventory issues ) to come to market for potential buyers to purchase. Now, that's only the first half of the problem we need to solve; we need some affordability financing to go along with more homes coming to market. This is where I come in to help you as a potential buyer; this is what I call the Seller Buy Down, and here is how we can bring back affordability and get you back into the housing market. These videos show how I can help you reenter this housing market. Thank You, Thomas Ooten
Hello, I want to share a success story! We haven't seen this in a long time but the market has moved enough that buyers have gained a little leverage back. Despite the negative views on seller concessions, I want to show you how we created a WIN for not only the buyer and buyer's agent, but for the seller and listing agent as well. With this particular buyer, they were currently reapproved at a different lender for only $650k. Five months ago they were looking around $800k. Drastically different homes in their new price range. They didn't want to settle. I was brought in and we were successfully able to structure a $20k seller buydown into the contract which means they were able to purchase the $780k home that they wanted! That's a $130k preapproval bump! Don't get discouraged because there is a way that we can get you your buying power back! Sincerely, Thomas Ooten
As of September 7, 2022, we can close conventional loans up to $715,000! Bye bye $647,200; it was nice knowing ya. The official 2023 loan limits won't be announced until later this year, but as a mortgage broker we have lenders who will close higher loan limits NOW! What does this mean?!?! You can avoid JUMBO loans making down payments lower, monthly payments and rates lower, more money on cash out refinances, more loan options for larger purchase prices. Just another reason to pick KesslerHomeLoans.com
Hello: Looking to invest in a property? What are the rates up to ?! I have included the Investor Cash Flow Loan Program for your review. For more detailed information, please click here YOUR TOTAL SAVINGS REPORT to see and listen (this had audio so be prepared to turn down your speakers) to a two-minute presentation on the benefits of the DSCR Loan Program for investment properties. What is debt service coverage ratio in real estate? Debt service coverage ratio – or DSCR – is a metric that measures the borrower’s ability to service or repay the annual debt service compared to the amount of net operating income (NOI) the property generates. DSCR indicates whether or not a property is generating enough income to pay the mortgage. Lenders use the debt service coverage ratio as one measurement to determine the maximum loan amount when a real estate investor is applying for a new loan or refinancing an existing mortgage. The larger the DSCR ratio is, the more net operating income there is available to service the debt. HOW REAL ESTATE INVESTORS USE DSCR Let’s assume an investor is thinking about purchasing a rental property with an asking price of $250,000. The debt service coverage ratio (DSCR) is a ratio of a property's cash flow to its annual mortgage debt. Our lender(s) of choice includes principal, interest, taxes, insurance and HOA fees in the mortgage debt. The ratio is calculated by taking the expected rental payment and dividing it by the annual mortgage debt RDP (Rent Divided PITIA= DSCR). Example Rent Divided PITIA (RDP) $1100 Rent / $1000 PITIA = 1.10% DSCR Positive Cash Flow $1100 Rent / $1100 PITIA = 1.00% DSCR 1 to 1 Break Even $1000 Rent / $1100 PITIA = .90% DSCR Negative Cash Flow Please click here to get started or to grow your investment portfolio. You can apply now at www.KesslerHomeLoans.com or AT MY ONLINE APPLICATION - www.MyMortgageGuyTOM.com Upon your review, please call my office at 386-301-7965, so we can discuss your exact needs and to answer any questions you may have. Rates move daily so if something catches your eye let’s discuss very quickly. I look forward to working with you. Your Total Saving Analysis Report -click here or the pic below - https://mcedge.tv/2yc3pa YOU CAN APPLY at: www.KesslerHomeLoans.com/apply-now Thank You, Thomas Ooten
Hello, I wanted to introduce myself because I will be the lender assisting YOUR AGENT NAME (List Agent) if we have the opportunity to serve you. I have two particular roles in your transaction. 1). I will validate all buyer offers submitted for financial strength, but more likely my second role, solve any financing challenges if they arise. For example, one of many challenges that we can solve in this market is what happens if the your only offer comes in low. We would implement this during the offer/screening process to create the plan upfront vs. reacting during the active escrow process, causing delays and, worse, cancelation so that we can generate the most significant profit on the sale of your home. This video scenario details how to handle " If " the offer comes in low and it might be your only offer. You can either counter with a higher and full price or take it. You take it, but you'll make less on the sale of your home. You counter them, you risk losing that buyer, and if they are your only buyer, that could be a problem. Thank You, Thomas Ooten
Offer to purchase your home. You can download the pre-approval letter and watch the video to the right. Please reach out with any questions. Thank You, Thomas Ooten (386) 301-7965
Dave says it's a good time to buy.
Monthly Mtg Insurance vs Lender Paid Mtg Insurance vs Single Premium MI Options
Hello, I wanted to get over some initial information for our appointment coming soon. In the real estate industry, a comparative market analysis (CMA) is an estimate of your home's value based on recently sold and similar properties within proximity to it. Sellers or buyers can use a CMA to set listing prices for their property or make competitive offers to purchase another house, respectively- so that you get the most accurate idea about what homes are worth around your area! If we have the opportunity to help you sell your home, here is a demo of a site we use and all of its valuable content to help market and educate potential buyers of your home. YOUR AGENT NAME & Thomas Ooten
Hello, I wanted to put these different home loan options to help educate potential First Time Home Buyers. So they can view the details of home ownership and that we can create a specific game tailored to their needs when entering the housing market. . . . . . . . . . . . . . You can check out my other presentations below: ➡️ Buying Your First Home: Do you know your numbers & options yet? | Rent Vs Own Report https://homeloansbythomasooten.com/presentation/41289/ ➡️ Top 5 Reasons To Buy Now: https://www.homeloansbythomasooten.com/presentation/49545/ ➡️ More Resources here: https://homeloansbythomasooten.com/resources/ Thank You, Thomas Ooten
Hello, As if the market was not tough enough on buyers as it is, now the higher cost and movement up in rates will really knock some buyers out of the market. But, that doesn't have to be the case, as rates and costs increase. This video lays out a game plan for how to utilize the seller buydown strategy that allows options for a buyer in today's market while creating more affordability. You have choices at Kessler Home Loans! Seller Buy Down - Conventional Seller Buydown using the Seller Cocessions three different ways so that a buyer has many choices in today's market! I wanted to show you how an SBD works and how the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. ( videos below ) Thank You, Thomas Ooten
Here is an affordable solution showing how a buyer can utilize the seller buydown offer (SBD) to increase net worth and build wealth! This is a conventional loan purchase using only 10% down and No Monthly MI using a re-investment strategy to increase net worth and build wealth over the life of the mortage term. Seller Buy Down - Conventional Seller Buydown Offer, NO MI and Build Wealth. I want to show you how an SBD works and how the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. ( videos below ) Thank You, Thomas Ooten
Hello, These higher interest rates will impact buyers' qualifications if you have not noticed. The higher rates are also beginning the "price drops " trend, which sellers use to help attract affordable housing for buyers. But, most sellers don't know or can show the actual numbers on how that impacts buyers. This inability to show the numbers and knowledge of how dropping the rates has a more significant impact on a buyer's payment than lowering a sales price could ever have. Price vs. Rate - Did you know, and I can show you through this side-by-side comparison, how a PRICE DROP of 25K compared to a 12.5K RATE DROP (SBD) impacts a potential buyer's payment? The rate drop triple the savings to that buyer payment, and if you took that new lower payment, that's like dropping the price by 59K! Seller Buy Down - Conventional Seller Buydown Offer and NO MI. I wanted to show you how an SBD works and how the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. ( videos below )
Hello, I wanted to get this critical information out about a change FHFA (Fannie Mae) made yesterday. The change will impact your costs on obtaining financing on a second home and loans above 647k, which is called "high balance." The video above has all of the essential info if you plan to purchase a 2nd home soon and or you plan to pull cash out on a " high balance " or "JUMBO" loan. These costs, called LLPA ( loan-level price adjustments), take effect on April 1st, 2022. But you need to be in application and locked by February 14th to avoid these costs. Link to the announcement - https://singlefamily.fanniemae.com/media/30326/display
- - - - - - - - - - - - - - 3 IMPORTANT THINGS YOU CAN DO RIGHT NOW 1. Check Your Credit Report(s) 2. Setup Payment Reminders 3. Reduce the Amount of Debt You Owe You can obtain your "Free Annual Credit Reports" online at www.annualcreditreport.com They will ask you security questions about your credit and only you will know the answers, so be prepared with your information ahead of time. or you can use the Annual Credit Report Request Form that I have provided on this page located in the section below/side. You will USPS mail this with 2 forms of ID and get your credit reports back within about 2-3 weeks. *This happens often, at least one credit bureau may request (by a letter) additional information to verify your identity and you will just need send the requested information to clear the verification process. Please feel free to reach out with any questions. Thank You, Thomas Ooten
Check out the Kessler Daily Bond Market Update: https://thomasooten.lenderlaunchpad.com/resource/41074/
Hi, So you are thinking about paying all cash for your next property? that is a great idea but do you know about the cash vs mortgage options available to you and about the following? + The Opportunity Cost of Paying Cash - Should You Pay Cash or Use a Mortgage? + The 90-Day Rule for Cash Buyers - Cash Buyers Only Have 90 Days To Get Their Tax Deduction + Thinking About Pulling Cash Out of a Retirement Account - Here Is The Inside Scoop Check out the Total Cost Analysis for the Cash vs Mortgage and my newsletters about the above referenced topics! Please reach out to discuss in detail. I look forward to hearing from you! Thank You, Thomas Ooten
Hello, These higher interest rates are impacting buyers' qualifications SIGNIFICANTLY. Also, higher rates are also beginning the "price drops " trend, which sellers use to help attract affordable housing for buyers. But do most sellers know the actual numbers on how a PRICE DROP impacts buyers? Probably not... Let me share a more effective through which we can all win together, even in the current housing market! PRICE vs. RATE - Did you know that a PRICE DROP of 65k has the same impact as 20K used to DROP RATE for a buyer's payment? Using a SELLER BUY DOWN strategy, instead of taking 65K off of list price, why not save $45,000 and still bring back affordability to the buyer? Watch the videos below or to the right to see for yourself. SELLER BUY DOWN (SBD) - Let me show you how a SBD works, and how both the Buyer & Seller can WIN-WIN. FOR LISITING AGENTS: Marketing Your Property - Once you understand how POWERFUL it is to DROP RATE vs. DROP PRICE with the SBD strategy, I'm sure you're gonna get excited!! Let's market your property with a custom SBD Video from me so that we can spread and help affordability to all buyers. Let's all WIN TOGETHER! Demo SBD Listing - Here is a listing that I can create with visuals and financing to help buyers obtain affordable housing payments. https://thomasooten.lenderlaunchpad.com/listing/5555-sample-street-sarasota-fl-34231
Hello, If you're a buyer in today's market, I'm sure you are somewhat discouraged by these higher rates, but this could be the break you need to gain access to the housing market. What I mean is that most buyers have pivoted back to the lender to get " pre-approved" again and are given two choices. The first option they would be given is "If" they plan to stay at their old pre-approval, then additional funds will be needed to accomplish that. If those funds are not available or if it requires liquidation of retirement accounts, Then the second option would be to reduce their pre-approval amount so they can requalify at a smaller amount based on their income and debt. Both of these options are not very good in this competitive market. But, you have another chance to help regain that lost buying power, and it's with a Seller Buy Down and I can help! Here are some of the options I help my buyers regain their buying power with massive additional funds needed to stay in the housing market.
Hello, I wanted to get this video out to highlight the recent law about requiring high schoolers in FL to take financial literacy classes. These classes will be essential life skills, from balancing a checkbook to purchasing a new home. I firmly believe most states will follow this movement to require these classes. Being in the mortgage industry for 21 years, I've seen firsthand some of the negative conciseness of poor money, credit, and debt management, which carries on with them into their home-buying years and would negatively impact them purchasing their first home.
Hello, I wanted to put this Rent Vs Own Report to help educate potential First Time Home Buyers. So they can view the details of home ownership and that we can create a specific game tailored to their needs when entering the housing market. . . . . . . . . . . . . . You can check out my other presentations below: ➡️ First Time Home Buyer: Do you know your numbers & options yet? | Home Loan Options https://www.homeloansbythomasooten.com/presentation/43152/ . ➡️ First-Time Home Buyer Resource | Know Your Options https://homeloansbythomasooten.com/resource/45208/ . ➡️ Top 5 Reasons To Buy Now: https://www.homeloansbythomasooten.com/presentation/49545/ . ➡️ More Resources here: https://homeloansbythomasooten.com/resources/ Thank You, Thomas Ooten
Hello, As professionals in the real estate market, we ask this question several times each week. So we thought we would put some critical data together, share our opinion on the housing market, and answer that question. Question: "Should we wait to purchase or buy now?" Here are the data points we will need to discuss to determine our best. ............... Appreciation - shows the increase of the value of a property from a monthly, quarterly, and a year over year adjustment. Forecasts - opinions from national real estate experts if properties keep increasing, slow, or plateau out. Supply & Demand - shows the data related to how many buyers to sellers are present in the housing market.
Hello, These higher interest rates are impacting buyers' qualifications, if you have not noticed. The higher rates are also beginning the "price reduction" trend, which sellers use to help attract affordable housing for buyers. But, most sellers don't know or can show the actual numbers on how that impacts buyers. This inability to show the numbers and knowledge of how dropping the rates has a more significant impact on a buyer's payment than lowering a sales price could ever have. Price vs. Rate - In this presentation, I wanted to show you, through this side-by-side comparison, how a PRICE DROP amount impacts a potential buyer's payment & qualification, but also how, with the same amount of money, you could triple the positive impact on a potential buyer. Seller Buy Down - The benefits of reducing a buyer rate vs. a list price are numerous, here are just a few of them. Positive Benefits: 1. 3/1 Ratio - A seller could triple savings on a buyer's payment if they applied the same amount of funds they reduced their price. 2. 1/3 Ratio - A seller could apply 1/3 of their potential price drop amount to lower a buyer rate and have the same financial benefits to the buyer. ( keep 2/3 of a possible price drop on their net sheet ) 3. Understanding the limited costs to drop rate, a seller could use a Seller Buy Down on full-price offers and protect their comps in the farms that produce the repeat business. 4. Address our buyer's affordability crisis head one with limited funds to implement a seller buy down vs. costly price reductions Marketing Your Property - Now that you understand how powerful a tool it is to reduce rate vs. price with the Seller Buy Down, then let's market your property with a custom SBD Video from me so that we can spread and help affordability to all buyers. SBD Example - Here is how a seller-provided TWO options to all potential buyers. With a full-price offer, a buyer could take 30k off the sales price OR 30k in a Seller Buy Down to help lower their interest rate.
Hello, As expected, the Feds increased rates again by .75%, so let's relook at what that means to you and how to protect your family moving forward. So far, the Fed's four hikes in 2022 have increased rates by a combined 2.25 percentage points — which means consumers are now paying an extra $225 in interest on every $10,000 in debt. ......................................... What Moved - Feds move " short term " rates, which would be your credit cards and equity lines of credit. What most think they moved is long-term debt, which are mortgages, which they can't directly unless they buy or sell mortgage-back securities. ......................................... Why They Moved Them - They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing. ......................................... How Long Do They Plan To Increase - They will do it as long as inflation in our economy, which I think into Fall or Q3. ......................................... How to protect yourself - This is where we need to think things out and create a plan for you and your family. Because, until now, most consumers have not felt those rate hikes, but with back-to-back .75% rate hikes, your 10k in credit debt increased 150.00 per month in the last 30 days, and that's about to become a problem. ......................................... The videos I have added show you a Two-Step Plan for turning bad debt into good debt. Plus, the second step is to prepare you if we move into a recession.
As a seller or listing agent in today's market, you must prepare for low offers. I think you first need to understand why a buyer would submit a lower offer. The main reason is affordability, which is at all-time lows due to a rate spike. So, don't take it personally when a lower offer comes your way; understand why and use this strategy to help this potential buyer afford your home without giving away the farm. The key is payment, and a buyer's goal is to achieve the lowest payment to obtain the loan the lender has qualified for them. These videos I've put together show the Seller Buy Down strategy I use to help the agents and sellers I work with achieve the payment the buyer needs but at two-thirds the cost of a lower ball offer.
Hello, I wanted to get this information together to help my clients purchase these Second Homes again; if you are not aware, these loans took a massive blow from FNMA in January 2022, when they released a recent fee change to these loans. Here is the announcement - https://singlefamily.fanniemae.com/media/30326/display Essentially they have significantly increased the costs associated with purchasing a second home with a conventional loan. Even if the client is okay with the higher costs, they still could not purchase them, because those higher costs now trigger high-cost compliance laws within the banks. So, we can't do these loans, especially when they are above 647k as a loan amount or what they call High Balance Loans. But, I want to show you a way we could in this market.
Hello, This video shows how we deal with values if they come in low. Our goal is to protect escrows from canceling and our buyers from bringing in additional and excessive fees to bridge the gap between the contract price and appraised value. We also use this technology & strategy to help get our client's offers accepted. We send custom presentations directly to the sellers/listing agents during the offer submission process. ----------------------------------------------------- Here is an example of how we use the Appraisal Gap Strategy to win more offers. https://homeloansbythomasooten.com/presentation/41066 ----------------------------------------------------- Check out our resource section: How to Understand Your Home Appraisal https://www.homeloansbythomasooten.com/resource/45205/
Hello, I wanted to share how we help our buyers become more competitive when writing and submitting offers today. Our goal is to achieve three things when we submit our client's bids. Keep in mind that this is not an official purchase contract, but it's a pre-approval letter and a custom Mortgage Coach TCA video that breaks down the numbers. The three goals we want to achieve by submitting this way are; 1. Create uniqueness and separation from the other submitted offers. 2. Create a custom video for the listing agent and seller, which allows me, the LO, to clarify and trust what we have accomplished with a full underwrite and a few items we need to fund this loan. 3. I also what to showcase our problem/solving skillset " IF " financial issues arise during the escrow process, like value coming in low. Here is an example of how we submit our offers - https://thomasooten.lenderlaunchpad.com/presentation/41066
MARKET UPDATE - What's going on and why does it matter? . . . . Direct Link - DAILY BOND MARKET UPDATE: http://ow.ly/OG5i50LpwM2 . . . Interest Rate | Market Update from Thomas Ooten https://www.homeloansbythomasooten.com/presentation/71901/ . . . . Also, Be sure to check out the Kessler Housing Market Update(s): https://www.homeloansbythomasooten.com/resource/42586/ . . Please let me know if I can be a resource to you. Thank you Thomas Ooten
Hey there! I wanted to reach out to buyers that have been searching during the time of the interest rate hike that's going on and see if we can get them back into the market. In this video, I want to show you how to regain that buying power and do it for half of the money you think you need. I say that because most of my clients are holding off from entering the market until they " SAVE " a significant amount of additional down payment to regain their buying power. You don't need to do that, and you don't need to liquidate all of your retirement funds either.
Hi Valerie, Here are the details of our offer on your listing. Pre-Approval Letter for $636K Loan Type: Conventional Loan Down: 20% Credit: Excellent Income: Verified Assets: Seasoned and Sourced Items Included: * Our Pre -Approval Letter ( which you can download ) * Video that highlights our financing plan. * Our plan "if" value doesn't come back at the contract Thank you, Thomas Ooten
Hello! We just got this buyer closed on their new home. We have an affordability crisis on our hand due to elevated home prices and the spike in interest rates. Here is a strategy we used to get these buyers back in the game when their current lender could not. We gave them a preapproval increase of $150k....How??
Hello, I wanted to get this video out to bring to highlight the corporate landlords in this 60 Mins episode, which are driving up the rental market up and crushing your dream of homeownership. ➡️ What? I want you to understand why the rental markets are rising. ( Real Estate is their bet against inflation, what are Corp Landlords and All Cash Offers ) ➡️ Why? Understanding who and the why behind this movement could cause you to rethink and restrategize your plan for homeownership. ➡️ When? Now ➡️ How to protect yourself? You need to understand a Rent vs. Own report, basic knowledge of Renovation Loans, the actual Cost of Waiting, and how I use technology to help my clients have an increased chance of getting their offers accepted. Here is a demo link I send to Listing Agents on our Pre-Approved Offers. 1). Create a separation from the offer offers 2). Quickly build trust with the listing agent, and lastly, 3). Highlight our problem-solving skillsets if the value doesn't come in at the offer price. ➡️ Sample Pre-Approval Link I use to submit my buyers offers - https://thomasooten.lenderlaunchpad.com/presentation/41066 . ➡️ Top 5 Reasons To Buy Now: https://www.homeloansbythomasooten.com/presentation/49545/ Thank You, Thomas Ooten
Hello, Modernizing your open house will be critical to running and pushing excellent content to potential consumers and buyers as the market shifts, and inventory builds. Each Property has its own story, from needing some " TLC " or help increasing the affordability to potential buyers in today's expensive housing market. I have combined a sample of technology I use in Lender Launchpad and mixed it with content & strategies from my financing background. That enables me to help get valuable information to more buyers or agents who might be passing or thinking about stopping by your open house. ..................................................................... 4-Step Process For Your Next Open House. Step 1: Input property into Listings @ Home Loans By Thomas Ooten Step 2: Add specific content to help educate potential buyers. ( like Total Cost Analysis videos, Virtual Tours, Agent Video with property details, Loan Program PDFs to download, Matterport Videos, etc. ) Step 3: Publish the listing, which generates its unique property site, which can be used for active listing, coming soon, FSBO, etc. Example Property Site - https://www.homeloansbythomasooten.com/listing/5555-sample-street-sarasota-fl-34231 Step 4: A Open House Flyer is automatically generated to support your next open house. ( the QR code points to your unique property site and pushes content to the potential buyers or agent's phone when scanned )
Hello, This video shows how we deal with values if they come in low. Our goal is to protect escrows from canceling and our buyers from bringing in additional and excessive fees to bridge the gap between the contract price and appraised value. We also use this technology & strategy to help get our client's offers accepted. We send custom presentations directly to the sellers/listing agents during the offer submission process. Here is an example of how we use the Appraisal Gap Strategy to win more offers.
Hello, These higher interest rates will impact buyers' qualifications if you have not noticed. The higher rates are also beginning the "price drops " trend, which sellers use to help attract affordable housing for buyers. But, most sellers don't know or can show the actual numbers on how that impacts buyers. This inability to show the numbers and knowledge of how dropping the rates has a more significant impact on a buyer's payment than lowering a sales price could ever have. Price vs. Rate - Did you know, and I can show you through this side-by-side comparison, how a PRICE DROP of 20k compared to a 20k RATE DROP (SBD) impacts a potential buyer's payment? The rate drop triple the savings to that buyer payment, and if you took that new lower payment, that's like dropping the price by 60k! Seller Buy Down - I wanted to show you how an SBD works and how the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. ( videos below )
"Tom is by far the best and most professional in the business. You’d be a fool not to hire him! He is always available and always on his game. I’ve used him twice now and won’t use anyone else moving forward. I’d give him 10 Stars if I could"
paul gagliardo
"From pre qualifing to closing everything went extremely smooth and timely. Plus kept us up to date along the way. Would definitely use again. Thank you."
karen a
"Tom knows his job for sure! Very professional and get things done as fast as possible. Easy to communicate with. Always ready to help answer any questions we had."
zurany