WHAT IS THE BIGGERT-WATERS FLOOD INSURANCE Reform Act of 2012

              WHAT IS THE BIGGERT-WATERS FLOOD INSURANCE  Reform Act of 2012

The Biggert-Waters Flood Ins act was passed in July 2012 by Congress. The act calls on FEMA (Federal Emergency Management Agency) and other agencies involved in insurance to make changes to the way the National Flood Insurance Programs works.
The most important factor of the act states that National Flood Insurance Program is to raise rates to reflect true flood risk, and figure out how to make the program more affordable. Once the changes are implemented, it will mean increase in insurance premium rates.
Its imperative that a prospective buyer and current home owner speak to an  insurance agent to determine if a policy will be affected.
For more information go directly to FEMA's site reformhttp://www.fema.gov/flood-insurance-reform
or speak to a Home insurance agent...

Ainsley Daux
Florida Realty
(813)546-1954

Conventional Loan Update

                                            Conventional Loan Update

You can finance the purchase of your home plus repairs on a Conventional loan (Not an FHA 203K)

Below are the down payments required...

 

5% Down Owner Occupied

10% Down Second Homes

20% Down Investment Properties ($100,000 minimum loan amount for investment properties)

 

Must have a licensed contractor complete the repairs. Buyer can not complete the repairs. As long as the repairs are supported by the appraisal and connected to the property, there is no limitation to the repairs that can be financed. Unlike FHA, luxury items such as swimming pools can be financed.

I am not a loan officer, for more direct information, please contact a mortgage broker or loan officer

Thank you,

 

 

Ainsley Daux

Florida Realty

(813)546-1954

 

Tampa Bay Short Sale Guy

 

902 w Lumsden rd

Brandon, Fl. 33511

ste: 103

2013’s biggest mortgage lenders

2013’s biggest mortgage lenders

According to Mortgage Daily’s Mortgage Origination Survey and an analysis of earnings data at mortgage-related firms Residential loan originations were down more than 14 percent in 2013.In the final three months of 2013, almost all mortgage bankers saw a sharp drop in originations

One of  the main reasons for the down turn is  interest rates is because 30-year fixed rates increased from 3.666 percent at the end of 2012 to 4.808 percent by the end of last year, according to the Mortgage Market Index from Loan Sifter and Mortgage Daily.

Wells Fargo holds the No. 1 lender spot, closing 19 percent of all home loans last year.

The five-biggest mortgage lenders were collectively responsible for 43 percent of 2013’s activity.

Originations (billions)
Wells Fargo: $351
JPMorgan Chase & Co.: $168
Bank of America Corp.: $90
U.S. Bank Home Mortgage: $85
Quicken Loans Inc.: $79

 Ainsley Daux

Florida Realty

813-546-1954

www.brandonpremierrealestate.com

Brandon Real Estate

902 w Lumsden rd

Brandon, Fl .33511

Top 10 photographic crimes agents commit | Inman News

Top 10 photographic crimes agents commit | Inman News

First Time Homebuyer Down Payment Assistance Available

First Time Homebuyer Down Payment Assistance Available, The $10,000 can now be used towards the minimum down payment on a Conventional loan. This program offers reduced mortgage insurance premiums.

 

·        Available for First Time Homebuyers (Must not have owned a home in the past three years, Veterans are exempt from being First Time Homebuyers)

·        640 Credit Score for 5% down payment, 680 Credit Score for 3% down payment ($10,000 assistance can be used towards the down payment)

·        Reduced Mortgage Insurance Premiums

·        30 Year Fixed Rate

·        Income and Purchase Price Restrictions vary per County

 

For more information, please call or email.

Thank you,

 

Ainsley Daux

Florida Realty

813-546-1954

Down Payment Assistance/Hillsborough County

Hillsborough county is offering down payment assistance to first time home buyers who qualify...Is it a myth or a legend..No its not a myth nor a legend. Ive closed many deals representing buyer that utilized the Down Payment assistance or DPA for Short. Today's deal I was representing the seller the buyer was utilizing the DPA. The buyer received 40k in down payment assistance. She was ecstatic. She closed hte1st loan with her lender than the county representative came by the closing with the check and their documents which is considered a 2nd mortgage..
For more information on down payment assistance please feel free contact me.
Thank you,

Ainsley Daux
FLorida Realty
(813)546-1954

Hillsborough County Down Payment assistance

Just sold this beautiful Riverview home.

This home boast 4 bedrooms, 3 bathrooms and almost 3000 sq ft., 2 car garage and a fenced in yard. The buyer was overwhelmed at the closing, she received $40,000 in county down payment assistance money. With the down payment assistance or DPA for short, her out of pocket expenses were minimal. Many buyers believe that the down payment assistance is a myth but I'm here to tell you it exist. In the last few years I've assisted many, many buyers utilizing down payment assistance. It does take some leg work from the prospective buyer but it can be done.

First and for most, the prospective buyer has to attend the first time home buyer class. Once the class is completed, the buyer will receive a certificate which allows them to participate in the program and receive funds if they are available. Below are a few resources to find class availability. Also, please feel free to call or email me with any questions are concerns.

Ainsley Daux

Realtor

Home Run Real Estate inc

cell:(813)546-1954

fax:(866)820-1028

http://www.homerunrealestate.com/

ainsleydaux.point2agent.com

Solita's House

(813)425-4847

http://www.solitashouse.com/

City of Tampa Housing and Community Development

(813)274-7954

http://www.tampagov.net/