resources

The Digital Offer: Direct, Clear And Simplified Over Process

Hello, As the real estate landscape evolves, so does our strategy for offer submissions, ensuring we stand out distinctly. Introducing my enhanced approach: ⚡️ Personalized Video Message: A unique touch from me, underscoring the earnestness of our offer. ⚡️ Instant Approval Letter: A testament to your client's immediate commitment. ⚡️ Transparent Financial Overview: A client-verified breakdown, laying out the offer's specifics. What sets us apart? Post my initial interaction or voicemail with the Listing Agent, I can deliver our entire offer straight to the agent via text. This ensures our proposal receives the prominence it merits. A bespoke thumbnail of the property further showcases our dedication. In a market where every nuance is pivotal, will your offers merely fit in or make a striking impression? The transition from conventional PDFs to the impactful 'Digital Offers' strategy alongside me. Together, let's revolutionize the way your buyers attain their dream properties. Are you set to shape the future? Best, Scott Nicholson

Digital Open Houses

Revolutionize Your Open Houses with Digital SolutionsDear Listing Agents,In today's swiftly changing real estate environment, the intersection of technology and property marketing has never been more crucial. The digital realm is not just an alternative; it's becoming the standard, shaping the expectations of potential buyers and setting new benchmarks for property presentations.We recognize this shift and're thrilled to unveil our Digital Open House initiative. More than just a virtual tour, it's a holistic and immersive digital experience. Crafted with precision, our platform is meticulously designed to offer a deep dive into properties. From interactive floor plans and 360-degree visuals to detailed neighborhood insights and real-time buyer-agent communication, we ensure every facet of the property is highlighted.This isn't about replacing the traditional; it's about enhancing it. By integrating state-of-the-art technology, we aim to provide a richer, more informative, and engaging experience for potential buyers and their agents. With the Digital Open House, we're not just presenting properties; we're telling their stories, ensuring your listings are seen and remembered.Join us in redefining property showcasing, where digital innovation meets real estate excellence. ⚡️ Highlights Of A Digital Open House ⚡️We can use some or all of the following features below.➡️ Financing Details: We provide a unique Total Cost Analysis (TCA) video for each property. This breaks down all costs, payments, and options associated with purchasing the home, offering a transparent and comprehensive understanding of the financial aspects.➡️ Property Tours: We can integrate any property tour videos you've created and uploaded on YouTube. Showcasing the house inside and out, these videos are a valuable tool for immersing potential buyers in the property.➡️ QR Codes: Our special property QR codes can be printed and placed around the house during open houses. Once scanned, we capture consumer data, allowing us to provide personalized information about the property and financing options.➡️ Rate Buy-Down Video: Leveraging my expertise in rate buy-downs, I can create a separate TCA report showcasing different rate buy-down options that could be utilized to purchase the property.➡️ Traditional Property Flyers with QR Codes: We provide traditional property flyers alongside digital offerings. When scanned, these codes direct users to the property site URL for detailed information about the home.➡️ Matterport Video: We can integrate this into our site if you have recorded a 3D Matterport tour of the property. This provides an immersive visual experience for buyers and their agents, giving them a comprehensive view of the property.➡️ Appointment Scheduling Widget: Our property site includes a widget for scheduling calls using Calendly. This allows potential buyers or their agents to set up a 15-minute call to ask questions or discuss the property and financing options further.➡️ Pre-Approval Widget: We have a widget with my contact information and an application for those ready to proceed with a link to the loan application. This streamlines the pre-approval process and gets buyers one step closer to their dream home.➡️ Market Reports: This detailed report shows the actual numbers on income, demographics, and trends so that buyers and sellers can make a more informed decision on selling and buying.➡️ Bid Over Ask: This report can be customized to show a potential buyer who might hesitate to submit a competitive offer to a seller. This delivers a possible ROI on a bid over the list price.Our Digital Open House can revolutionize how you conduct open houses, enhancing the experience for potential buyers and increasing the chances of a successful sale. I look forward to supporting your next open house with these innovative digital tools. Sample Property Site - https://www.nicholsonloans.com/listing/FMA5jp3B

The New 5% Down Payment from Fannie Mae with MBS

Hello, future homeowners and savvy investors!I'm excited to share the fantastic news that could transform your thoughts on homeownership and real estate investing. Starting after November 18, 2023, Fannie Mae is introducing a groundbreaking change: they will now accept a mere 5% down payment for 2-, 3-, and 4-unit homes you plan to live in!⚡️Why is this a Big Deal? ⚡️Acquiring a multifamily home required a substantial 15-25% down payment for years. However, with Fannie Mae's new guidelines, purchasing such properties has just become more accessible than ever before. Consider this: previously, buying a $500,000 triplex meant putting down $125,000. Now? Just $25,000! That's a significant $100,000 difference!⚡️Why Consider a Multifamily Home? ⚡️Buying a multifamily property isn't just about having multiple units. It's a strategic move. You can live in one unit and rent out the others, generating rental income. This can offset your mortgage payments and even provide a passive income stream. Plus, it's an excellent opportunity for budding landlords to gain experience.⚡️What About First-Time Buyers? ⚡️Good news! Even if you're a first-time buyer, in most scenarios, you can use projected rental income from your property to help qualify for the loan, as long as you're currently paying rent somewhere. This can significantly aid in affording the mortgage rates in today's market.⚡️Why is Fannie Mae Making this Move? ⚡️Fannie Mae recognizes many challenges in today's housing market, especially with rising rents and mortgage rates. Adjusting their guidelines aims to support credit access and promote affordable rental housing. This change means you could transition from renting a room to owning a multifamily property, all while fostering affordable rental opportunities in your community.⚡️ How Much Can I Borrow? ⚡️While the change is limited to standard conforming loan amounts (excluding high-balance loans in pricier areas), plenty of leeway remains.Here's a breakdown for 2023:2-unit: $929,8503-unit: $1,123,9004-unit: $1,396,800⚡️When Can You Jump In? ⚡️If this opportunity resonates with you, immediately gather your income, assets, and employment documents. While you can begin your application process now, some updates are still pending in Fannie Mae's systems. This includes details about asset reserve levels and rates from private mortgage insurance companies for these new loans. But don't let that deter you—be proactive and get a head start!⚡️In Conclusion ⚡️This is a transformative moment for prospective homeowners and budding landlords. With just a 5% down payment, you could be on your way to owning a multifamily property and reaping the benefits of homeownership and real estate investment.Reach out to us, and let's explore how this change can pave the way for your future in real estate!

Unlocking Homeownership: The New 5% Down Payment from Fannie Mae

Hello, future homeowners and savvy investors!I'm excited to share the fantastic news that could transform your thoughts on homeownership and real estate investing. Starting after November 18, 2023, Fannie Mae is introducing a groundbreaking change: they will now accept a mere 5% down payment for 2-, 3-, and 4-unit homes you plan to live in!⚡️Why is this a Big Deal? ⚡️Acquiring a multifamily home required a substantial 15-25% down payment for years. However, with Fannie Mae's new guidelines, purchasing such properties just became more accessible than ever before. Consider this: previously, buying a $500,000 triplex meant putting down $125,000. Now? Just $25,000! That's a significant $100,000 difference!⚡️Why Consider a Multifamily Home? ⚡️Buying a multifamily property isn't just about having multiple units. It's a strategic move. You can live in one unit and rent out the others, generating rental income. This can offset your mortgage payments and even provide a passive income stream. Plus, it's an excellent opportunity for budding landlords to gain experience.⚡️What About First-Time Buyers? ⚡️Good news! Even if you're a first-time buyer, in most scenarios, you can use projected rental income from your property to help qualify for the loan, as long as you're currently paying rent somewhere. This can significantly aid in affording the mortgage rates in today's market.⚡️Why is Fannie Mae Making this Move? ⚡️Fannie Mae recognizes many challenges in today's housing market, especially with rising rents and mortgage rates. Adjusting their guidelines aims to support credit access and promote affordable rental housing. This change means you could transition from renting a room to owning a multifamily property, all while fostering affordable rental opportunities in your community.⚡️ How Much Can I Borrow? ⚡️While the change is limited to standard conforming loan amounts (excluding high-balance loans in pricier areas), plenty of leeway remains. Here's a breakdown for 2023:2-unit: $929,8503-unit: $1,123,9004-unit: $1,396,800⚡️When Can You Jump In? ⚡️If this opportunity resonates with you, start immediately gathering your income, assets, and employment documents. While you can begin your application process now, some updates are still pending in Fannie Mae's systems. This includes details about asset reserve levels and rates from private mortgage insurance companies for these new loans. But don't let that deter you—be proactive and get a head start!⚡️In Conclusion ⚡️This is a transformative moment for prospective homeowners and budding landlords. With just a 5% down payment, you could be on your way to owning a multifamily property and reaping the benefits of homeownership and real estate investment.Reach out to us, and let's explore how this change can pave the way for your future in real estate!

The Digital Offer: Direct, Clear And Simplified Over Process

Hello, As the real estate landscape evolves, so does our strategy for offer submissions, ensuring we stand out distinctly. Introducing my enhanced approach: ⚡️ Personalized Video Message: A unique touch from me, underscoring the earnestness of our offer. ⚡️ Instant Approval Letter: A testament to your client's immediate commitment. ⚡️ Transparent Financial Overview: A client-verified breakdown, laying out the offer's specifics. What sets us apart? Post my initial interaction or voicemail with the Listing Agent, I can deliver our entire offer straight to the agent via text. This ensures our proposal receives the prominence it merits. A bespoke thumbnail of the property further showcases our dedication. In a market where every nuance is pivotal, will your offers merely fit in or make a striking impression? The transition from conventional PDFs to the impactful 'Digital Offers' strategy alongside me. Together, let's revolutionize the way your buyers attain their dream properties. Are you set to shape the future? Best, Scott Nicholson

Student Loans: How The Financial Responsibility Act of 23 will Impact Homeownership!

The Financial Responsibility Act of 23 will Impact Homeownership As we all agreed, we're facing a potentially challenging situation come September. Many of our clients have not made student loan payments in three years due to the pause on payments. Combining this with no financial planning, rising inflation, high credit card debt, and the prospect of a payment that hasn't been seen in 36 months, we could be looking at a significant impact on those directly or indirectly involved in the housing market. For our sellers, especially those who recently purchased at low-interest rates in the 2 or 3% range and have student loans, this situation might affect their ability to move on to their next home. For our current approved buyers, this could impact their pre-qualification. Imagine adding $300 to $1,000 to their current debt-to-income ratio (DTI). And let's not forget our new first-time buyers. They will also feel the impact on their qualification. We must act swiftly to help them avoid default and late payments when the pause lifts in September. ..................................................... High-Level View Of Options We Can Use ⚡️Standard Repayment Plan Payments are a fixed amount that ensures your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans). This is not an income-driven plan. It is not a good option for those seeking Public Service Loan Forgiveness (PSLF). ⚡️Graduated Repayment Plan The graduated repayment plan starts with lower payments that increase every two years. Payments are made for up to 10 years (between 10 and 30 years for consolidation loans) This is not an income-driven plan, which means you will not qualify for Public Service Loan Forgiveness or interest relief as you would on an income-driven repayment plan. Even more detail here. ⚡️Extended Repayment Plan Payments may be fixed or graduated and will ensure your loans are paid off within 25 years. If your extended plan is graduated, then payments will rise over time. You will pay back significantly more interest than on a 10-year plan. This is not an income-driven plan, which means you will not qualify for Public Service Loan Forgiveness or interest relief as you would an income-driven repayment plan. Even more detail here. ⚡️Revised Pay As You Earn Repayment Plan (REPAYE) This is an income-driven plan. Your monthly payments will be 10 percent of your discretionary income. Payments are recalculated annually based on your updated income and family size. Unlike PAYE, though, the monthly payment can exceed the 10-year standard plan payment. ⚡️Pay As You Earn Repayment Plan (PAYE) This is an income-driven plan. Your monthly payments will be 10 percent of discretionary income, but never more than you would have paid under the 10-year Standard Repayment Plan. Payments are recalculated annually and are based on your updated income and family size. ⚡️Income-Based Repayment Plan (IBR) This is an income-driven plan. Your monthly payments will be either 10 or 15 percent of discretionary income (depending on when you received your first loans), but never more than you would have paid under the 10-year Standard Repayment Plan. Payments are recalculated annually based on your updated income and family size. ⚡️Income-Contingent Repayment Plan (ICR) This is an income-driven plan. Your monthly payment will be the lesser of 20 percent of discretionary income or the amount you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income. Payments are recalculated annually based on your updated income and family size. ⚡️Income-Sensitive Repayment Plan This is an income-driven plan. Your monthly payment is based on annual income, but your loan will be paid in full within 15 years. Deferment ............................. You are in deferment on your 6-month grace period. Interest accrues during this period. This means your balance will increase, and you’ll pay more over the life of your loan. Any period of deferment will not count toward loan forgiveness. We recommend you enter into an income-driven repayment plan to lower your payment. Forbearance You are in forbearance, and interest accrues during this period. This means your balance will increase, and you’ll pay more over the life of your loan. Any period of forbearance will not count toward loan forgiveness. We recommend you enter into an income-driven repayment plan to lower your payment.

Pioneering the Future of Property Showcasing in a Digital-First World

Revolutionize Your Open Houses with Digital Solutions Dear Listing Agents, In today's swiftly changing real estate environment, the intersection of technology and property marketing has never been more crucial. The digital realm is not just an alternative; it's becoming the standard, shaping the expectations of potential buyers and setting new benchmarks for property presentations. We recognize this shift and're thrilled to unveil our Digital Open House initiative. More than just a virtual tour, it's a holistic and immersive digital experience. Crafted with precision, our platform is meticulously designed to offer a deep dive into properties. From interactive floor plans and 360-degree visuals to detailed neighborhood insights and real-time buyer-agent communication, we ensure every facet of the property is highlighted. This isn't about replacing the traditional; it's about enhancing it. By integrating state-of-the-art technology, we aim to provide a richer, more informative, and engaging experience for potential buyers and their agents. With the Digital Open House, we're not just presenting properties; we're telling their stories, ensuring your listings are seen and remembered. Join us in redefining property showcasing, where digital innovation meets real estate excellence. ⚡️ Highlights Of A Digital Open House ⚡️ We can use some or all of the following features below. ⬇️ ➡️ Financing Details: We provide a unique Total Cost Analysis (TCA) video for each property. This breaks down all costs, payments, and options associated with purchasing the home, offering a transparent and comprehensive understanding of the financial aspects. ➡️ Property Tours: We can integrate any property tour videos you've created and uploaded on YouTube. Showcasing the house inside and out, these videos are a valuable tool for immersing potential buyers in the property. ➡️ QR Codes: Our special property QR codes can be printed and placed around the house during open houses. Once scanned, we capture consumer data, allowing us to provide personalized information about the property and financing options. ➡️ Rate Buy-Down Video: Leveraging my expertise in rate buy-downs, I can create a separate TCA report showcasing different rate buy-down options that could be utilized to purchase the property. ➡️ Traditional Property Flyers with QR Codes: We provide traditional property flyers alongside digital offerings. When scanned, these codes direct users to the property site URL for detailed information about the home. ➡️ Matterport Video: We can integrate this into our site if you have recorded a 3D Matterport tour of the property. This provides an immersive visual experience for buyers and their agents, giving them a comprehensive view of the property. ➡️ Appointment Scheduling Widget: Our property site includes a widget for scheduling calls using Calendly. This allows potential buyers or their agents to set up a 15-minute call to ask questions or discuss the property and financing options further. ➡️ Pre-Approval Widget: We have a widget with my contact information and an application for those ready to proceed with a link to the loan application. This streamlines the pre-approval process and gets buyers one step closer to their dream home. ➡️ Market Reports: This detailed report shows the actual numbers on income, demographics, and trends so that buyers and sellers can make a more informed decision on selling and buying. ➡️ Bid Over Ask: This report can be customized to show a potential buyer who might hesitate to submit a competitive offer to a seller. This delivers a possible ROI on a bid over the list price. Our Digital Open House can revolutionize how you conduct open houses, enhancing the experience for potential buyers and increasing the chances of a successful sale. I look forward to supporting your next open house with these innovative digital tools. Sample Property Site - https://www.nicholsonloans.com/listing/2345-city-drive-yorba-linda-ca-92886

Conventional Costs Are Going Up, But FHA Loan Costs Are Coming Down

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.nicholsonloans.com/presentation/68597/

Rate Buydown Guide For Buyer Agents

Hello, I wanted to get some educational content together to help buyers and agents with their buyers, particularly with affordability and strategies to help them get into the housing market. .................................... First-Time Home Buyer https://www.nicholsonloans.com/presentation/63941 *This video is about primary education for first-time home buyers. ..................................... Rate Buydown Guide https://www.nicholsonloans.com/presentation/50744 * This video is very detailed with content and videos to help buyers understand rate buydowns. .................................... Submitting Offers With Your TCAs https://www.nicholsonloans.com/presentation/67151 *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 Nowhttps://www.nicholsonloans.com/presentation/48075 * This video highlights the reasons a buyer should not wait to purchase a home today (buyers' market vs. seller's market & buy down strategies )

2023 New Loan Limits – Video Examples On How They Could Impact You!

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 national average home price changes. HERA specifies that the Federal Housing Finance Agency (FHFA) “establish and maintain” an index for tracking average home prices. 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.

Your Guide To Help You Select The Correct Buydown Program

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.

Comparative Market Analysis for Mr. & Mrs. Home Seller

Hello, I wanted to give you some vital information to look over before our upcoming appointment. We aim to ensure that we are fully equipped for our forthcoming meeting. When determining the value of your home, we rely on a comparative market analysis (CMA) which analyzes recently sold properties similar to yours. This allows us to establish a competitive listing price or make informed offers when you're looking to purchase another property. Our expertise goes beyond that of a traditional realtor. I also collaborate with my lending partner so that he can provide financial solutions, ensuring we can address potential problems that might arise during an escrow. Here are two specific challenges we can tackle effectively: ⚡️Appraisal Gap Solution: If the value were to come in low, then we have an appraisal gap solution to deploy if your home's appraised value falls short of your desired listing price. This solution bridges the gap between the appraised value and your target price, helping us secure the best possible offer for your home. For more details, I've included a video explaining our appraisal gap solutions ( see the video below ) ⬇️ ⚡️Negotiating Low-Ball Offers: If we receive a low-ball offer from a potential buyer, we have a proven strategy to counter that offer and arrange a payment that aligns with their request while minimizing costs. This enables us to achieve a fair price that matches the buyer's initial offer while protecting your financial interests. ( see the video below ) ⬇️ Our problem-solving strategies have saved many sellers thousands of dollars, making us the ideal choice for listing your home. We possess the skills and dedication required to navigate challenges and secure the best possible outcome for you. We are excited to discuss these solutions in more detail during our appointment. Feel free to reach out if you have any questions or need further information. Thank you, Austin Nieves & Scott Nicholson

How To Counter Low Ball Offers

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.

How To Maintain Your Buying Power in High Rate Environment

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.

The Fed’s Hiked Rates Again!! – What They Did And How It Will Impact You

Hello, I wanted to get this video out to explain the Fed Rate Hike today and how that will impact you. What? - The Fed increased rates starting today and up to seven more times. Why? - They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing. When? - They started today. How to protect yourself? - You need to review and convert all of your short term debt ( equity lines, credit cards, etc.) and move into long term debt ( mortgages, e.g., 30 Yr Fixed Loans )

Financial Literacy Classes Are Now Required In Florida High Schools

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.

If You Are Renting, You Need To Watch This Video On Corporate Landlords – 60 Minutes Report

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://nicholsonloans.com/presentation/28603/

How To Make Second Homes Affordable

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, 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.

8 Steps To An FHA 203k Loan

The 203k Rehab Loan is a unique financial product under the Federal Housing Administration (FHA) umbrella, designed to facilitate purchasing or refinancing homes that need work, whether it's a fresh coat of paint or a complete structural overhaul.At its core, the 203k loan is geared towards promoting the revitalization of existing properties, making it an invaluable tool for potential homeowners and communities. Here's how it works:⚡️Purpose: The primary objective of the 203k loan is to allow buyers to purchase a property and secure funds for renovations simultaneously. This dual-purpose nature extends to homeowners looking to refinance and renovate their residences.⚡️Flexibility: Unlike traditional loans, where the amount borrowed is based solely on the home's current value, the 203k loan factors in the post-renovation value. This means borrowers can secure funds based on the property's worth after the upgrades.⚡️Use Cases: Whether it's an outdated, damaged home or simply not meeting the buyer's vision, the 203k loan can be used. From foundational repairs to aesthetic changes like flooring or paint, the spectrum of renovations covered is broad.⚡️Primary Residences Only: It's essential to note that the 203k loan is exclusively for primary residences. This means it can't be used for investment properties or vacation homes.⚡️Loan Process: The process starts with a property appraisal assessing current and estimated post-renovation values. The loan amount determines the greater of the two – either the home's purchase price plus renovation costs or 110% of the estimated post-renovation value.⚡️Benefits: Beyond the obvious advantage of transforming a property, the 203k loan often provides a more affordable solution than other financing methods. By consolidating the purchase and renovation costs into a single loan, borrowers can save on interest and experience a more streamlined process.The 203k Rehab Loan is a dynamic solution for individuals looking to breathe new life into a property, making the dream of a perfect home more accessible and communities more vibrant.

Rising Home Prices – Are They Sustainable or Will We See Another Crash?

Hello,  As professionals in the real estate market, we get asked this particular 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: "Are Rising Home Prices Sustainable or Will We See Another Crash?" 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.  Affordability - is the measurement of a home's price to a consumer's income earned, shown in an affordability index.  Last Crash in 2008 vs. 2022 - comparing what drove the last collapse time and how we compare now. ............... We've added some additional video content to help show the numbers with your situation within the housing market. Educational Videos: Video 1 - Where we were, where we are at now, and where we are going Video 2 - Rent vs. Own - a side-by-side comparison of the two options. Video 3 - Move- Up - lays out details, strategies, and thoughts on moving up.

Second Homes and High Balance Loans ( > 647k ) Are About To Get Very Expensive

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 " loan.      These costs, called LLPA ( loan-level price adjustments), take effect on April 1st. 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

New 2022 Loan Limits – How this will impact your new purchase or refinance

Hello, I wanted to ensure that I pass along some essential news about the FHFA announcement about new and higher loan amounts. This is big news because we need more financing options as the housing market appreciates in home values. I have a few TCA | Financing videos that highlight how you can take advantage of these new higher limits for your purchase or refinance. Other Videos: Cash-Out Options - https://nicholsonloans.com/presentation/24531/ Purchase Renovation Loan Options - https://nicholsonloans.com/presentation/24532/

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