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About Brian Carpenter

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So far Brian Carpenter has created 88 blog entries.
9 03, 2016

Can a pre-approval letter hurt a buyer

By |2020-02-19T10:57:34-06:00March 9th, 2016|Home Buyers, Lending|0 Comments

Preapproval letter pain? Once a buyer finds a home to make an offer, buyers in need of financing go a lender and receive preapproval for an amount. Most preapproval letters are valid for 60-90 days depending on the bank. Typically, buyers share the preapproval letter with the seller(s) after 24 hours of the offer acceptance. Therefore, the preapproval letter needs to completed for the buyer before an offer is presented. The fear of the buyer is that once the seller sees the preapproval amount, the seller will immediately counter offer. There is no reason to allow [...]

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2 03, 2016

Low down-payment mortgage programs

By |2020-02-19T10:57:39-06:00March 2nd, 2016|Lending|0 Comments

Non-traditional forms of credit offer low-down payment terms Low down-payment mortgages are an option to consider when credit scores are low. A new trend in lending is offering its mortgage loans with a near zero low down-payment. Bank of America has recently rolled out a lending plan that will offer its customers mortgages at only 3% down. Of course, there are negative consequences of low down-payment programs such as FHA loans. Notably, low down-payment requirements create higher monthly payments. Consequently, the borrower will pay higher interest amounts over the life of the loan than [...]

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26 02, 2016

Design resources for your next home build

By |2020-02-19T10:57:45-06:00February 26th, 2016|Building|0 Comments

Have you selected the perfect lot for your new home build plans? As you have likely discovered, Oxford has no shortage of new housing developments that seem to have no end to construction. Among these continual growth neighborhoods are Grand Oaks, Wellsgate, The Highlands, The Lakes, and Northpointe as well as many others. As of 2016, new home build will continue expansion for the foreseeable future considering the small amount of housing inventory. Finding your next home can be as easy as finding the next lot in your neighborhood of choice. Each of these planned development [...]

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11 02, 2016

First time homebuying: Rent or buy

By |2020-02-19T10:57:50-06:00February 11th, 2016|Home Buyers, Lending|0 Comments

With the recent string of millennials graduating school and entering the workforce many of them must now consider whether or not they should be buying a home or renting. This can be an especially difficult decision if one still has a large amount of student loan debt or the inability to put a sufficient amount of money down on a house. A recent article from The Fiscal Times addresses the trend here. Many young people are attracted to the first time home buyer loans, incentivizing their purchase decision. Some loans only require 3.5% down. Considering today’s [...]

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4 02, 2016

Is it time to refinance with the current low interest rates

By |2020-02-19T10:57:55-06:00February 4th, 2016|Lending, News|0 Comments

While it may take some time to cross the break-even point, a refinance is a good idea if you are planning to stay put for awhile. Pros of refinancing your mortgage There has been a lot of buzz in real estate news lately due to continually decreasing mortgage rates. Low mortgage rates are not normal throughout financial history. Current rates are nearing historic lows. For historical data about mortgage rates, check out Freddie Mac archival data recorded since 1971. Mortgagors need to be give serious analysis to these low-interest conditions when they do occur. [...]

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22 01, 2016

USDA/RHS Rural Home Development Loan

By |2020-02-19T10:58:01-06:00January 22nd, 2016|Lending|0 Comments

Rural home development loan options Rural locations have a lot of financing flexibility for qualified buyers. USDA/RHS Rural Development Home Loan can provide an a great alternative to a conventional mortgage loan. Provided by the U.S. Department of Agriculture (USDA), USDA loans are mortgages guaranteed by the federal government. In fact, the overwhelming majority of the U.S. is eligible for USDA financing. Nearly one third of Americans live close to a property qualified for this program. Furthermore, this program includes single-family housing, multi-family housing, and community facilities programs. Home buyers must qualify for the loan program However, [...]

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22 10, 2015

How closing has changed, the “Know Before You Owe” initiative

By |2020-02-19T10:58:02-06:00October 22nd, 2015|Lending|0 Comments

Banking regulations shaping property condition disclosures New banking regulations will change the closing process for properties buyers. All mortgage lenders are required to use new consumer disclosure forms effective on Oct. 3, 2015. The changes merged the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing Disclosure. Consumers will have more time to review the total costs of their mortgage prior to closing. The Loan Estimate form is due to consumers three days after they apply for a loan. The [...]

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24 07, 2015

Costly Home Seller Mistakes

By |2020-02-19T10:58:03-06:00July 24th, 2015|Selling Your Home|0 Comments

If you've been living in your home for more than a few years, it's likely that you can become very emotionally attached to your home. It's full of memories and sometimes, it's hard to leave the site where those memories originated. In this light, it becomes difficult to view your home as a commodity. However, you'll keep the memories forever regardless of the home. When it comes to selling, you need to make your home attractive for the next owner not yourself. For a smoother sales transaction that garners the most possible profit from your sale, avoid [...]

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