Jumbo Mortgages are Back!
For the past two years, it has been difficult to find lenders offering Jumbo mortgages, let alone a jumbo mortgage with an affordable rate. Today, jumbo loans are at their lowest rate since 2003 averaging around
6% for a 30 year loan and as low as
4% for a 5 year ARM. Down payment requirements are usually between 10 and 20 percent of purchase price with good credit.
Those rates are approaching government backed 30 year conventional loans. The low rates make this summer the time to refinance a higher end home or consider a purchase or sale of a luxury home.
Contact one of these fine lenders for more information about rates:
Scheetz Mortgage, Patrick Bowers
pbowers@scheetzmortgage.comCentury Mortgage, Kirk Nelson
kirk@talktokirk.comFirst Republic Mortgage, Sandy Struwing
sandy@firstrepublicmortgage.comPlease mention my name, then search for homes anywhere in the Indianapolis area or list your home
with me , Julia Evinger or another professional Realtor at
Century21Scheetz.
Now is the time to make YOUR move!
Zionsville Home For Sale
Have you ever daydreamed of riding your horse across a verdant Indiana pasture, your hair blowing in the wind? Would you enjoy watching birds, deer, and the occasional fox from your family room windows? Have you ever wanted to have your own Indiana estate with a clever name, set down a private drive, under a canopy of mature trees?
This is your chance to live your dream.
Out of the many homes for sale in Indiana, there is one for sale in Zionsville, Indiana that is unique in location and charm. Zionsville homes and farms have long been home to equestrian estates. Hunter/Jumpers, Quarter horses and Thoroughbreds foray on farms in the area. 10655 E 300 Sis a 33.3 acre equestrian estate that could be your family's
treasure for generations.
There are two barns on property, a round pen, and seven pastures. This equestrian center offers both an indoor and outdoor riding arena and has been home to many storied thoroughbreds.
The grand colonial home is 9,000 square feet and a work in progress. Bring a contractor or a new home builder to make it your dream home.
The property is being sold as is, but there is so much potential here now and in the future. It can be enjoyed as a private estate now, but as Boone County and Zionsville continue to grow, it becomes a great investment property for future development.
Listed at $1,800,000.
Prequalified Buyers, Please.
Please contact me to schedule a showing appointment. Check with your Indianapolis mortgage lender for current rates. Or contact me for a mortgage lender referral. There are many fine Indianapolis Mortgage Companies.
What I have noticed in the past months in Indiana real estate is that possession is very very important. In the past buyers had the option most of the time to purchase their future home without having to have their current home sold and then would just have to carry both mortgages for a time. But we, as Indianapolis realtors are seeing that the lenders are not allowing that in most cases, which puts alot of buyers in an awkard position as they wait for their home to be sold. Sellers have to be educated that they might get an offer and the most important item really is possession. I have witnessed this first hand. We received an ok offer but possession was in 3 weeks. We discussed that I thought that was an aggressive closing time, but I was sure that was the real motivation and if my clients could meet the 3 weeks demand we could get really close to asking price. This was the case. We need to educate our sellers that they need to have alternative plans on their future move and might need to be flexible. Also, if they are buying we need to have them educated that when their house is sold, they might need to make plans if they can't find the house they want in as little as 2-3 days. If you have any questions please feel free to call me at 317.814.8216 or email me at lphillips@c21scheetz.com
Day 9 - Scheetz Advantage
We're on the home stretch! It's fun to watch a tight bond form amongst the group of people who spend two weeks together learning and role playing, and having fun!
What a great time to buy! Here's our biggest fear right now in the Real Estate market - The fear is that in a few short months people are going to come to us and say, "Wow, why didn't you push me to buy back then". The opportunity for the "deal" won't be around for long. So, let us shout it from the roof tops, NOW'S THE TIME TO BUY! I hope everyone can hear me. With the $8,000 tax credit (Thank you Mr. Obama) that doesn't have to be paid back, new home buyers are crazy if they don't get out there and check it out.
Ok, on to day 9...The best Indianapolis Mortgage Lenders in the city, Scheetz Mortgage, was first up to bat. Pat Bowers, Loan officer for Scheetz Mortgage, loves bringing in breakfast for the new group of agents, but definitely loves teaching the new agents what they need to know about the financial process of the transaction. "With Scheetz Mortgage being so accessible, so many loan options to choose from, and just a few steps away to help agents and clients walk through the process, it really makes the entire transaction smoother" said Pat Bowers.
Role Play, Role Play, Role Play. All leading up to the final day! WOW, that's tomorrow already!
Tim O'Connor did some very important training on Fair Housing. Doesn't sound real exciting, but trust me, you want to know all about this or you'll find yourself in some hot water!
Tomorrow - Friday, GRADUATION day, but...there's more! Tomorrow the rubber hits the road. Tomorrow we find out if anything over the past two weeks sunk in. Tomorrow we find out how prepared the agents are to go out and sell Indianapolis Real Estate.
Don't miss out on the good FUN stuff! Come back for more!
If you're considering a career in real estate, contact Patty Bender, 317-814-4843- Let's Chat Real Estate License Indiana
This morning, I had a meeting with a sharp "young" guy who is getting ready to buy his first home. He wants to be well prepared for the process and understand exactly what he is getting ready to undertake. We spent a lot of time talking about the process. Indianapolis mortgage companies have many attractive loan products for qualified buyers and interest rates are at unbelievable lows! We discussed the pre-approval process and he will be meeting with a lender this week. We also discussed the process we would use to consider varioius homes for sale in Indianapolis. Broadripple is a definite possibility as is Carmel. We reviewed a purchase agreement before and he left my office with a blank one that he can read at his leisure. We discussed inspections and appraisals and the "meat" of the process. I'd say he's ready to jump into the real estate water! This meeting took an hour and a half and as a REALTOR it is a pleasure to see someone take the home buying process so seriously! It will be fun to help him find the right home. What about you? Are you ready to buy your first home? Are you ready to sit down with a REALTOR and plan your strategy?
What a unique time in Indiana Real Estate! Our inventory levels of homes for sale offer many great buying opportunities at many price ranges and Indianapolis Mortgage Companies are offering really attractive rates. Buyers are finding they can buy more...and spend less...it's a great time to jump in! I was sitting in a closing this week and my buyer discovered his estimated mortgage payment had changed since he sat down with his lender in October...but for the better! His payment on his new $200,000.00 home had dropped by $70.00 a month! Homes in Indianapolis are more affordable than ever! It's a great time to work with a good REALTOR to find a bargain...bank owned homes are getting lots of press, and surely there will be more to come but there are many other resale bargains out there as well. Zionsville real estate has some tremendous bargains in resale. Take a look at this
great home in a custom Zionsville neighborhood. One and a half acres, a lovely custom home...and only $399,000. A bargain...you can't get this in new construction for this price! Take a good look...it may be your chance to jump in while Indianapolis Houses are such a bargain!
What could make a better gift for yourself or a loved one than one of the homes for sale in Indianapolis or the surrounding area? As we approach the holidays, sellers begin to get nervous about having their home sit on the market all winter so why not find yourself a bargain and make an offer?
Contact your favorite Indianapolis Mortgage Lender and find out how they can help you make your dream come true. Mortgage rates in Indianapolis are at near record lows and that coupled with current home values make now the time to buy. Visit my website to gain access to the Indianapolis MLS and take a look at the thousands of homes that are waiting just for you.
Whether you are interested in Carmel real estate, Greenwood Indiana homes for sale or someplace in between, you will find great values everywhere. Just like the stock market, when prices are down, that is the time to buy!
Resellers and new home builders in Indiana are all making year end deals that benefit the buyer. For more information on how to take advantage of this market email me at jeff@c21scheetz.com. Happy Holidays.
What should you do if you're headed towards an Indiana foreclosure or Indianapolis foreclosure? CALL YOUR LENDER!
The majority of people touched by Indianapolis foreclosures never once picked up the phone and contacted their mortgage lender to discuss possible, creative accomodations that might be considered during these tough times. The Mortgage lender is typically in the dark as to the individual's hardship other than they are months behind in payment. Communication is key! Avoid your home becoming another bank owned home in Indianapolis.
Fact: CENTURY 21 Scheetz has the number one REO (real estate owned) Divisions in all of Indiana - If you need help, contact a CENTURY 21 Scheetz agent today.
Post contributed by: Patty Bender
Indianapolis Mortgage Company Scheetz Mortgage spreads the news: On Tuesday of this week, the Fed announced they will be purchasing $600 billion of Mortgage-Backed Securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. This move is designed to help increase the availability of credit, while lowering fixed mortgage rates.
Two reasong to spend some time examining the recent changes:
1) The first is the obvious - The rate on a 30 year fixed conventional is 5.75% as of today (Friday 11/28/08) with no points. This is down a full 1/2% from this time last week. The reduction increases a buyer's purchasing power by 5%. These rates affect all Indianapolis Mortgages.
2) The second - and the one many of us forget - is our own personal situation. Take a look at your existing mortgage. If you have an adjustable rate, look hard at converting to a fixed. Also, you make look to reduce the term of the loan from a 30 to a 20 or 15 year. Remember, with the holidays coming up we can all use some relief. By refinancing in December, you will not have your first new payment until February of 2009!!
.
REMEMBER: $7500 FEDERAL TAX CREDIT for first time buyers thru June 2009!!
As volatile as the market has been, you need to act quickly. It is not uncommon for rates to change three to four times per day.
If you are looking for Indianapolis Indiana Real Estate, you can always count on us at Scheetz Mortgage, your personal Indianapolis Mortgage Lenders, to help you choose the right financing program to meet your needs.
If you would like to discuss the details behind the recent developments or how these changes affect your personal finances, contact Mike Carr at 705-259, email or Patrick Bowers at 814-5285, email.
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