Landscape of the Market for Buyers Class is Back! Wednesday Sept 5th!

 

 

Join us Wednesday, September 5th from 6:30-8:30pm at LivingRoom Realty as Real Estate Broker Susannah Ribstein, Mortgage Broker Ben DeBoer, and Home Inspector Mike Lamb help guide you through the landscape of home purchasing.  Whether you are planning to buy a home this fall or in 2 years this class will help you get prepared.  Topics to be discussed are:

– The pre-approval process and preparing your finances – Step by step overview of home buying process – Loan products available in today’s market – What are closing costs incl. a detailed breakdown – How to decide on what type of property to buy – What to expect from a home inspection – What to look for in a building – Tips for saving for home improvements

Food and drinks will be provided. Please RSVP at contact@livingroomrealty.com, so we can plan appropriately. We look forward to seeing you!

Conventional Loan Limits Have Increased for 2018

On November 29, 2017, Fannie Mae and Freddie Mac officially announced they would be increasing the conventional loan limits for 2018. We turned to mortgage broker Ben Deboer from Molitor Financial Group to find out a little more: LRR: Can you tell us a little more about the specifics of this change?

Ben: The loan limit for conventional loans has been increased from $424,100 to $453,100 for single family home and condo purchases. This means that if you were on the cusp of needing a JUMBO loan that required a higher down payment, you now may be able to use a regular conventional loan allowing for a smaller down payment. Also, if you are thinking about purchasing a multi-unit building, the loan limits on those have also increased. The loan limit for two unit buildings are now $580,150, three unit buildings are $701,250, and four unit buildings are $871,450.

LRR: How does this benefit buyers?

Ben: Before this change, if you needed to take a home loan out that was above $424,100, you would be forced to do so with a JUMBO loan. JUMBO loans characteristically have higher interest rates, higher down payment requirements, and more stringent underwriting guidelines. The minimum down payment for most JUMBO loans is 10%. With this increase in the conventional loan limit to $453,100, buyers will now have more flexibility to take advantage of the benefits of a conventional loan. With a conventional loan, buyers can put down as little as 3% and take advantage of conventional loans lower interest rates.

If you have further questions you can contact Ben at bend@molitorfinancial.com or (219) 308-5687.

Landscape of the Market for Buyers • Wednesday April 10th 6:30pm

Join us at LivingRoom Realty on Wednesday April 10th 6:30-8:00 pm as Mortgage Broker Emma Butler, Real Estate Brokers Sarah Frier & Annie Coleman and Home Inspector Jeffrey Wadsworth guide you through the current landscape of home purchasing. greenconstruction3-large

Whether you are a first time buyer, thinking about buying in a year from now, or a seasoned home owner, this will be an informative talk on the unique dynamics of the current real estate market. You will leave the seminar fully informed on how you will need to prepare for your home search.

Topics to be covered will be: - The pre-approval process and preparing your finances - Loan products available in today’s market - What are closing costs and detailed breakdown - Benefits of home ownership and review of TaxSmart incentive program - How to decide on what type of property to buy - Overview of buying a foreclosure or short sale - What to expect from a home inspection - What to look for in a building when looking at properties - Tips for saving for home improvements

Food and Drinks will be Provided. Please RSVP at contact@livingroomrealty.com so we can plan appropriately. We look forward to seeing you! Sarah Frier, LivingRoom Realty Annie Coleman, LivingRoom Realty Emma Butler, Guaranteed Rate Jeffrey Wadsworth, RCIS LLC

Landscape of The Market for Buyers • Wednesday January 9th 6:30pm

Join us at LivingRoom Realty on Wednesday January 9th 6:30-8:00 pm as Mortgage Broker Emma Butler, Real Estate Broker Annie Coleman, and Home Inspector Jeffrey Wadsworth guide you through the current landscape of home purchasing.

Whether you are a first time buyer, thinking about buying in a year from now, or a seasoned home owner, this will be an informative talk on the unique dynamics of the current real estate market. You will leave the seminar fully informed on how you will need to prepare for your home search.

Topics to be covered will be: - The pre-approval process and preparing your finances - Loan products available in today’s market - What are closing costs and detailed breakdown - Benefits of home ownership and review of TaxSmart incentive program - How to decide on what type of property to buy - Overview of buying a foreclosure or short sale - What to expect from a home inspection - What to look for in a building when looking at properties - Tips for saving for home improvements

Food and Drinks will be Provided. Please RSVP at contact@livingroomrealty.com, so we can plan appropriately. We look forward to seeing you!

Emma Butler, Guaranteed Rate Annie Coleman, LivingRoom Realty Jeffrey Wadsworth, RCIS LLC