Boy, competition’s getting fierce up in this real estate market, don’t you think? Home prices are rising. Down payment averages are rising. And the Chinese are still looking to Texas (among other places in the U.S. Let’s face it: America’s looking great. But as Americans, we still want the better bang for our buck! And if there’s one thing that still will cost a pretty penny, it’s a house!
It’s a necessity in the industry to protect the lenders. In fact, that’s what allows lenders to offer such low down payment requirements. But here’s the deal – you, the borrower, still need to pay for it. And many, many borrowers might not even realize that mortgage insurance will come out of your pocket. Plain and simple.
Thankfully, certain home mortgage programs offer competitive prices for mortgage insurance, and FHA is one of them – 1.75% of the loan amount is what you can expect to pay for insurance on a mortgage loan. Not too bad. That’s somewhat better than the VA home loan – another favorable program for low-income situations – with a mortgage insurance percentage of about 2.4%. But did you know there’s one home mortgage program out there that beats even the FHA?
That’s grade A premium beef in the real estate industry, with a percentage of just 2% of the initial loan amount – and to make it even more interesting, the annual mortgage insurance charge is just .5% of the remaining balance over the course of 12 following payments. A much better deal than the .85% annual charge the FHA imposes.
Want to learn more about the USDA home mortgage? Check it out right here. Nothing against FHA, but maybe you want something a bit better. Just make sure you qualify for it! Because when we talk about grade A premium beef cuts, we don’t mean small shanks.
down payments, FHA, H.O.P.E. Program, H.O.P.E. to Own, home lending, home loan, home prices, HOPE Program, HOPE to Own, loan approval, mortgage insurance, real estate, real estate industry, real estate loan, real estate market, USDA home mortgage
The mortgage landscape changes almost on a daily basis, people! And you don’t always have a newspaper on hand, nor can you haul a television with you everywhere you go. What do you need? You just need a Twitter update to get the goods on mortgage industry developments — because, since you’re here on the RTO Consultants website looking for help in finding the right rent-to-own home, you’re obviously interested in what’s going on with the real estate market and industry.
It just so happens that we have some relevant retweets on what’s been happening in the news for mortgage industry developments, and the keyword is this — retweet. That means the news are circulating the Twittersphere, and not just anybody’s passing the information on. The very best real estate professionals today are doing it. They’re tweeting, retweeting and “favoriting” literally every day. That should tell you something.
But don’t take our word for it; check out these retweets on mortgage industry developments right now:
— ShareholderRights (@ShareholderRigh) October 2, 2015
— Playa Realty (@playarealtyexec) November 9, 2015
— Christena Ames (@ChristenaAmes) November 9, 2015
— Albuquerque Realtors (@RealtorsinABQ) October 1, 2015
Twitter’s chock full of information from all the key real estate players you can expect, so it makes sense especially if you’re in the market for an RTO home. Want to know what’s trending? You get on Twitter. Get on the entirety that is social media, in fact. You can do it on your tablet or phone while riding a train or sitting at the park, too.
Take advantage of the technology. Because one thing’s for sure — you’ll be ahead of the game in terms of finding the best deals, the best properties, and the best people to work with for an industry that requires the most collaboration. Social media does it best.
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