Realty Insights for Home Buying, Home Selling, and Indy Info

Do FHA borrowers have to be first-time homebuyers? No. FHA loans are available to any borrower on a primary residence as long as they do not have another FHA loan at the same time. What is the minimum investment required on an FHA loan? Based on existing FHA guidelines there is a minimum investment of three percent; the funds do not have to be the borrower’s own funds. The borrower can receive a gift (which include seller funded down payment programs such as The Nehemiah Program) for the entire amount of funds needed to close. How much of the closing costs can be financed? Based on FHA guidelines, of the three percent minimum investment requirement, .75 percent can go toward the closing costs. What is the best way to apply seller paid cost to an FHA loan? It is important to remember that while most closing costs can be included in the amount of closing costs that can be financed, prepaid escrows and discount points cannot be financed. So if the seller is paying the first $3,000 it is b...

I would like to introduce the newest contributor to my blog--Aaron Wheeler! Aaron is a Mortgage Advisor for Sierra Pacific Mortgage and will be sharing important and helpful financial and mortgage information with all of us. Welcome Aaron!

Check out my newest listing! 9668 Troon Court, Carmel Listed at $209,900 MLS #2724106 Searching for something special? Check out this stylish home set in a golf course community. Cul-de-sac lot & close to the pool. Special features: 9 ft ceilings 1st floor, new flooring in much of home, bright Great Room with fireplace & LR with triple windows. Spacious Master with cathedral ceiling & plant shelf, generous walk-in closet. Master bath w/ dual sinks, tiled tub/shower. 2 story entry, custom deck & professional landscaping. Crate and Barrel colors. Convenient to 465 and 65. For more information, please call (317-844-4646) or email ( talktodiane@speakeasy.net ) me or check out my website at www.homesinindy.com .

Following is the March Market Watch Report from the F.C. Tucker Company: Central Indiana home sales decline in March Winter weather impacted home sales, but spring is just around the corner INDIANAPOLIS – Pended home sales in central Indiana declined 10.8 percent in March 2007 as compared to March 2006, but showed improvement compared to February. March 2007 showed 2,763 pended home sales, compared with 3,097 this time last year. Year-to-date pended sales shows a modest 8.9 percent decline compared to March 2006. “We’re transitioning into spring and the peak season for home-buying,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “As we leave the winter weather behind, the market will continue to improve and homes will begin to sell more quickly.” Shelby County experienced the most significant sales increase last month, with pended home sales up 34.9 percent from March of last year. Hancock was the only other county to see an increase...