New FHA Loan Limits

Written by Don Wixom
Special Report HUD Releases New FHA, Conforming Loan Limits (March 6, 2008) The U.S. Department of Housing and Urban Development today published new FHA and conforming loan limits, based on median home prices as mandated by the Economic Stimulus Act signed by President Bush in February. New loan limits for FHA and Fannie Mae and Freddie Mac are now calculated at 125 percent of the HUD published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750. NAR expects the impact on the housing market to be significant because of the infusion of capital into the mortgage market, which should result in lower interest rates across the board. In addition, there will be a direct impact on high-cost areas that previously required borrowers to take out costlier jumbo mortgages. The new FHA loan limits can be accessed online. To find the Fannie Mae and Freddie Mac conforming loan limits, on the HUD site choose "Fannie/Freddie" in the drop-down menu called "Limit Type." "We believe the economic stimulus bill will quickly have an impact on families and the nation's economy. The loan limits for both FHA and Fannie Mae and Freddie Mac have been increased and this will act as a major stimulus for the housing industry and for those people wishing to own a home," says Richard Gaylord, NAR president.
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Build a Plan of Action and Get Ready

Written by Don Wixom

Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It's important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.

Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.

Why You Should Not Make Any Major Credit Purchases

Written by Don Wixom

Don't go on a spending spree using credit if you are thinking about buying a home, or are in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation.

Every $100 you pay per month on a credit payment could cost your about $10,000 in home eligibility. For example, a car payment of $300/month could mean that you qualify for $30,000 less in a mortgage.

Homes in Nampa under $100k

Written by Don Wixom

Are There Any Affordable Homes in Nampa Idaho?

I have many buyers ask me about affordable homes in Nampa. With the recent appreciation we have experienced, especially in 2005, it has been a little more difficult to find quality homes for sale in Nampa, under $100,000. Now with a down-turn in prices, they are a little more plentiful!

Here is a link for the most up to date search for available homes in Nampa under $100,000.

For those of you on a more limited budget or for those who are searching homes in Idaho for investment property, I hope this will be a great help!

Keep in mind that financing regulations have undergone a few changes and it is always best to get pre-approved with a reputable lender. Leon Baker with First Mortgage Company in Nampa has a variety of loan programs including zero down, FHA, VA and conventional.

Whenever you are looking to buy or sell Idaho Real Estate, please give me a call or drop me an e-mail; I'm always looking out for your next move in the Boise ID real estate market!

Considering Offers

Written by Don Wixom

When considering an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a seller.

You should have a strategy for dealing with each offer. Here are some situations that can effect your decision about an offer:

Higher-than-market-interest in a second mortgage for your home

Bosie ID Real Estate

Written by Don Wixom

December 31, 2009 Sales Stats for the Boise Real Estate Market:

This article has information available for current inventory as well as recent SOLD inventory of residential housing units for Boise, Meridian, Ada County, Canyon County, Nampa, and Caldwell.

Please scroll down to view the Idaho Real Estate information you are most interested in. (The following data has been extracted from the Intermountain MLS, an Idaho MLS provider for real estate for sale in Boise and surrounding areas as of January 1, 2010). This information is deemed reliable, but not guaranteed.

Why You Should Avoid Foreclosure

Written by Idaho Real Estate

Why You Should Avoid Foreclosure

When it comes to losing your Idaho home to foreclosure, there is no quick and easy fix. Financial troubles come in all sizes and it can be a very emotionally draining process. The most important thing to remember is to "stay sharp!"

Don't let your emotions take over the logical thinking process that can help you and your family. Don't be afraid to ask for help.