Sam Nueman

FHA Monthly Mortgage Insurance To Increase

2011-02-27T19:37:00Z

It seems like every time we blink, FHA changes their rules. On April 18th, 2011, FHA will increase their monthly mortgage insurance premiums as if the previous increase is not already hard on buyers. Ok here is what it means to you. Depending on your debt to income ratio, it may affect how much loan amount you will qualify for.

Since FHA will be increasing their MI by .25%, here is an example of what it will look like based on $163,000 sales price.

Sales price = $163,000
Minimum Required Down Payment = $5,705
Loan Amount = $157,295
FHA Mortgage Insurance (monthly) = $118 and with the increase of .25%, the amount will be $151. An increase of $33.

$33 may not be a lot for some people but this amount can go towards qualifying for a higher loan thus allowing you to get more in a home.

So if you are on the market of buying a home this spring, you will save yourself money by having a sales contract and starting your loan process before April 18th to avoid paying more on mortgage insurance. If you don't think you will have a contract before that date, make sure your loan officer is aware of the upcoming increase and that he/she has factored the increase into your loan prequalification.

When buying a home, it is important to have an experience real estate agent that can help you navigate through your buying process and new changes. I am that agent. Call me today.

Find out about our 10% Rebate Coupon.

704-747-2289
Sam Nueman

Play Your Part.

2011-01-10T00:08:00Z

Some people that are not in the real estate or mortgage industry do not realize what it takes to get a real estate transaction to the closing table. They don't know how many people will actually touch the file during the process. And everyone will have to do their job for the buyer to officially purchase the house.

When a buyer is in the market of buying a home, they have to get prequalified or pre-approved for a mortgage loan if he/she intends to finance the purchase. This means their credit status and debt to income ratios will need to be sufficient. Buyer will also need to make sure the property is structurally sound, there is a marketable title, value of the house is satisfactory and more...

Here are some of the professionals/ vendors that are normally involved in a typical transaction...

- Realtor
- Loan Officer
- Loan Processor
- Loan Under Writer
- Lender's Closing Department
- Appraiser
- Surveyor
- Home Inspector
- Wood Destroying Insect (Termite) Inspector
- Contractor/ Repair Professional
- Title Abstractor
- Closing Paralegal
- Closing Attorney
- Deed Recorder

And in some cases there are more vendors involve.

So in short, nothing is a 'done deal' until everyone has completed their task and 'played their position'. But the great thing is... if you are utilizing an experienced Realtor like me, you will have a greater chance with your deal. Your Realtor will help you negotiate your offer, manage the time line, schedule the necessary inspections, correspond with your lender, negotiate repairs, communicate with the closing attorney, and more to make sure your deal is completed.

If you or anyone you know is interested in buying a house, an experienced Realtor(R) like me will be able and happy to help you. Call me at 704-747-2289 Cell or email at Sam@NuemanRealEstate.com

Price Reduced on 13611 Michael Lynn Road in Steelecroft

2010-11-06T13:54:00Z

Steelecroft, Charlotte - Announcing a price reduction on 13611 Michael Lynn Road, a 1,548 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $109,900 - Reduced!.

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Price Reduced on 9316 Tibble Creek Way in Tibble Creek

2010-11-03T15:10:00Z

Tibble Creek, Charlotte - Announcing a price reduction on 9316 Tibble Creek Way, a 1,304 sq. ft., 2 bath, 3 bdrm single story "Ranch Style". Now MLS® $127,990 - Reduced!.

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Single Story For Sale in Tibble Creek

2010-10-18T05:20:00Z

Gorgeous Ranch Style Home

• 1,302 sq. ft., 2 bath, 3 bdrm single story "Ranch Style" - $129,824 - Great Steal! Hurry!

Tibble Creek, Charlotte - Wow! A Pride of Ownership Home. *ONE YEAR HOME WARRANTY IS BEING OFFERED**. As you come in you will see a Huge Master Bedroom on the right with a Master Bathroom included with a relaxing Garden Tub. All of the bedrooms have Walk-in Closets. There is New Carpet & Paint through out. On the left will be a spacious Laundry/ Mudroom. The Great room has an Open Floor Concept with high Vaulted Ceilings. It also is equipped with a Gas Fireplace. A spacious Kitchen has all black appliances with Beautiful Cherry colored cabinets a nice full size Breakfast area. The Backyard has an Extended Patio that has a Spacious Gazebo to enjoy and entertain friends. A wooded backyard provide that privacy have been look for. This lovely home is located less than one minute from Shopping Center (Harris Teeter and more. In a well sought after location and school District (Butler High, Mint Hill Middle & Piney Grove Elementary. This is your chance to take advantage of this great price. Hurry!

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Price Reduced on 9316 Tibble Creek Way in Tibble Creek

2010-10-18T05:20:00Z

Tibble Creek, Charlotte - Announcing a price reduction on 9316 Tibble Creek Way, a 1,302 sq. ft., 2 bath, 3 bdrm single story "Ranch Style". Now $129,824 - Great Steal! Hurry!.

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Price Reduced on 5500 Wyalong Dr in Mintworth Village

2010-09-26T21:08:00Z

Mintworth Village, Charlotte - Announcing a price reduction on 5500 Wyalong Dr, a 1,582 sq. ft., 3 bdrm single story. Now $144,900 - A GREAT STEAL!.

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HUD FORECLOSURES FOR ONLY $100 DOWN OR 50% OFF?? REALLY??

2010-05-31T18:28:00Z

Many buyers and even real estate brokers don't know about the different HUD programs available for buyers. Do you know you can purchase a HUD home for just $100 down and even be able to finance the needed repairs into your loan? Do you also know you can purchase a nice HUD home and only have to pay %50 of the sales price back depending on your occupation? Well, this is real and true!

I have successfully helped many of buyers take advantage of these programs for years. When seeking for a real estate broker it's important to know if that broker is knowledgeable with the HUD programs and if his or her agency is HUD certified? HUD will only allow agencies that are certified with them to assist buyers with the process. That's why other agents/ brokers refer clients to me since I have been quite successful with it.

Ok, here is the nitty gritty with some of the programs:

$100 Down Program
- You have to be pre-qualified or pre-approved for an FHA loan.
- The homes have to be on the HUD foreclosure lists which comes out every Friday.
- If your offer price is greater than $50,000, your earnest money deposit will need to be $1,000 which you can get back at closing if closing cost are taken care of. - Buyers have to intend to live in the home 'Owner-Occupant'.
- And you can close within 45 days.

50% Off Current Appraised Value (Good Neighbor Next Door) Program
- The same as the $100 Down Program except...
+ Buyers have to be a full time Teachers, Firefighters, Emergency Medical Technicians or Law Enforcement Officers.
+ You can not participate if you have owned a residential real estate for 1 year prior to your submission.
+ You have to live in the house for 3 years.

For more information on these programs and others, you can contact me at Sam@NuemanRealEstate.com
For HUD foreclosure homes click on this link: http://www.nre4you.com/HUD_FORECLOSURES/page_2215182.html

Your Experienced Real Estate Broker
Sam Nueman
www.NRE4YOU.com

BYE BYE $8,000 TAX CREDIT!!

2010-04-20T22:34:00Z

There is no question that the first-time homebuyer $8,000 tax credit has been very popular. And after so many buyers have taken advantage of this program, the end time is sadly near. You only have 10 days left to get a house under contract and close on it by June 30th. This program is basically is FREE Money for you to buy a home that you already are going to buy. Think about it. If you are renting, paying about $1,100 a month you are not going to get any of that money back at the end of the year. That's $13,200 annually you are throwing away! With $1,100 a month you can buy a much bigger home, get a tax write off on the interest, real estate tax, energy efficient programs, etc. Plus your portion of your mortgage payments will go towards reducing your principal balance. So if you think about it, you are getting paid to buy a house.

With that being said, make sure you are financially ready to become a home owner because after that $8,000 runs out you want to still be able to maintain the payments. That’s why I have 2 to 3 mortgage professionals standing by ready to assist any client of mine. If you are interested in taking advantage of the tax credit, this is not a time to shop around without a Realtor. Remember, sellers pay for all commission for both agents and if they aren't, you will know ahead of time before you make an offer on a home. So don't wait too late to hire an experience real estate broker, call or email me today!

Sam Nueman, SFR
704-747-2289 Cell

Price Reduced on 3114 Twin Falls Lane in Callaway Plantation

2010-04-02T20:55:00Z

Callaway Plantation, Matthews - Announcing a price reduction on 3114 Twin Falls Lane, a 1,476 sq. ft., 2 bath, 3 bdrm ranch. Now MLS® $144,900 - Reduced!!!.

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Open House in Callaway Plantation on Saturday

2010-03-13T15:33:00Z

Callaway Plantation, Matthews - We invite everyone to visit our open house at 3114 Twin Falls Lane on March 13 from 11:30 AM to 3:00 PM.

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Price Reduced on 10025 Teeside Lane in Parkview at Matthews

2010-02-26T19:00:00Z

Parkview at Matthews, Matthews - Announcing a price reduction on 10025 Teeside Lane, a 1,920 sq. ft., 2 bath, 3 bdrm 3 story "Lots of Natural Lignt!". Now MLS® $119,900 - Just Reduced!!!.

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Price Reduced on 3114 Twin Falls Lane in Callaway Plantation

2010-02-23T15:12:00Z

Callaway Plantation, Matthews - Announcing a price reduction on 3114 Twin Falls Lane, a 1,476 sq. ft., 2 bath, 3 bdrm ranch. Now MLS® $149,900 - Reduced!!!.

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2 Story For Sale in Wesley Chapel

2010-02-08T19:12:00Z

Great Location (close to Lots of Shops)!

• 1,366 sq. ft., 2 bath, 3 bdrm 2 story - MLS® $124,900 - Unbeatable Price!

Wesley Chapel, Monroe - Immaculate 2 story home has beautiful wood laminate floors on main level, gas log fireplace with crown moldings, neutral colors, French doors. Master bedroom has vaulted ceilings & walk-in closet. Master bathroom has double sinks, garden tub & a separate shower. Refrigerator, Washer & Dryer will stay. Seller is offering a 1 year Home Warranty and is willing to consider buyer's closing cost!! This is a Well kept home that is located next to the new upscale Bloom shopping centre. Close to North Lake mall, HWY I-77, HWY I-485.

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Price Reduced on 4737 Foxthorne Drive in Wesley Chapel

2010-02-08T19:12:00Z

Wesley Chapel, Monroe - Announcing a price reduction on 4737 Foxthorne Drive, a 1,366 sq. ft., 2 bath, 3 bdrm 2 story. Now MLS® $124,900 - Unbeatable Price!.

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