Realtors:
If the seller is unwilling to contribute to the real estate commission for the buyer
OR
If you are having a hard time winning over a listing
OR
If things are just challenging in general:
I offer my readers a 1-0 buydown for their clients, for any home that goes into contract in the next 45 days. That is a 1% discount on the interest rate for the first 12 months for your buyers. I will cover that cost as the mortgage broker and still give your buyer an excellent deal. No cost to the borrower or the agent or the seller of the home. Offer your clients a benefit other agents may not have.
Real Estate Agents are now required to have buyers sign disclosure forms before showing them any home. Buyers continue to lament that every good house on the market receives multiple offers, driving up the price. Talk about something new, that buyers may not have heard about before.
Fannie Mae & Freddie Mac “First Look Initiatives” give priority to buyers who will reside in the property as owner occupants. Investors are locked out of these listings for 30 days. These are homes that were foreclosed, cleaned up & put back onto the market. They can be bought and financed traditionally, OR to create additional value, the buyer can apply for a loan that combines a purchase loan & a renovation loan into one loan. Buying and immediately renovating the home allows your clients to move into a home finished the way they want it. As new homeowners, they pay only the mortgage each month. They will not be living in a home needing renovations & pouring cash into those renovations, financially stressing the new homeowner. They also get to live in a home, fixed up their way, on the very first day they move in.
This program is for all owner occupants, but if the buyer is a first-time home buyer this program can be combined with Home Ready or Home Possible loans, which reduce the closing costs for the buyer even further.
Tip of the Week: A fun financial exercise for young children.
Show children in elementary school these 3 links to websites below, where they can search for abandoned funds. Have them search family, friends, neighbors or whomever to search for abandoned accounts with money still remaining. You will be surprised at the number of accounts that have funds to recapture. Old bank accounts. Individual savings bonds. Children will get excited about a $50 find. They may or may not have success. Either way, it is a fun way to begin the financial conversation with children, about saving for the future.
The sooner and more often you talk about this with children the more likely they are to use the advice and build good financial habits. Consider creating a savings plan with young children where ½ goes to savings and ½ goes towards a larger purchase later. Delayed gratification with a reward later, is a great lesson for young children.
National Association of Unclaimed Property Administrators
Quote of the Week:
“The future belongs to those who see possibilities before they become obvious.”
- John Sculley
Click here to schedule a meeting with me through Calendly
Thanks,
Jeff Lafazan
About the Author of Jeff’s Common $en$e - Jeffrey Lafazan
Experience, Knowledge, Solutions & Customer Service, ALWAYS!!
Residential / Commercial / Bridge Loans
Renovation & New Construction / Fix & Flip Investors
HUD Multi-family loans to 85% with 35-year Amortization
Reverse Mortgages up to $4 million - including Co-Ops
SBA business financing up to 90%
Investor, Commercial, Bridge & SBA loans available in all 50 states.
Go Rascal (NMLS #2072896) is licensed in 34 states and growing.
Join Team Lafazan with national reach.
GoRascal Inc. (NMLS #2072896) is a licensed mortgage broker
In AL, AZ, CA, CO, CT, DC, DE, FL, GA, IA, IL, IN, KS, KY, MA, ME, MD, MI, MS, NC, NH, NJ, NY, OH, OR, PA, RI, SC, TN, TX, VA, VT, WA, WV, & New York
This communication is intended solely for licensed professionals and is not an offer to lend.
Cell # 516-375-3943
Jeffrey Lafazan NMLS # 69338
JLafazan@PrudentialB.com
JLafazan@GCFnyc.com
https://goldcoastbiz.com/
https://www.prudentialb.com/contact/mortgage-team/jefflafazan/
