at 1510A NW Vivion Rd, Kansas City, 64118 United States
Help my clients buy the home of their dreams
My heart and passion in the Kansas City Metropolitan area is to meet both the short and long-term Home loan and Mortgage goals of my clients, to educate my borrowers with every Mortgage or Home loan option, and to make long lasting relationships with each client after the Mortgage and Home loan process. Specialties: Purchase and Refinance advice and service on Conventional, Jumbo, FHA, VA, and USDA, and Renovation home loans. NMLS # 3043 and 368269
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"I've missed over 9,000 shots in my career. I've lost almost 300 games. 26 times I've been trusted to take the game-winning shot...and missed. I've failed over and over and over again in my life. And that is why I succeed." Michael Jordan Professional Basketball Player
Act Now To Refinance Your Home Before Rates Rise lt-article (OKLAHOMA) - There has never been a better time to refinance your home. That's because of a little-known government program called the Home Affordable Refinance Plan (HARP). This allows Americans to refinance their homes at shockingly low rates, and reduce their payments by an average of $3,000 a year. But here's the catch - like most government programs, this is likely temporary. Currently the program is set to expire on December 31, 2015. But the good news is, once you're in, you're in. If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now. It's like a true middle-class stimulus package This is unknown to many, but the Home Affordable Program is for the middle class. If your mortgage is $625,500 or less (unless you live in a high-cost area then the loan limits may be higher), you most likely qualify. Basically, the Government wants banks to cut your rates, which puts more money in your pocket (which is good for the economy). However, the banks aren't too happy about this - here's why: You can shop several lenders, not just your current mortgage holder Your home's Loan-to-value (LTV) can be 80% to 125% You think banks like the above? Rest assured, they do not. They'd rather keep you at the higher rate you financed at years ago. That's why the pressure is on time-wise. The Middle Class seems to miss out on everything (did you ride the last stock bubble? Probably not). Thus, it's almost a no-brainer to jump on this now. You need to act fast in order to refinance your house at these current low refinance rates. You can greatly benefit: The average monthly savings for most eligible Americans is $250. Can you use an extra $250 a month? Many homeowners not only save every month, but depending on their current rates, they can also shorten their term. Deferred payments - typically, one or two payments are skipped / deferred as well. This is why it's a no-brainer - you will likely lower your payment, possibly shorten your term, AND can also get cash. This is how powerful that little word called "interest" is. The middle class never sees "breaks" like this. So this is your chance to get "in".
Conflict in Ukraine and Middle East Geopolitical events were the primary influence on mortgage rates again this week, while the economic data had little impact. After a quiet weekend, investors were willing to take on a little more risk early in the week. Shocking news on two fronts caused an abrupt reversal on Thursday, however, and mortgage rates ended the week just slightly higher. When a conflict breaks out which could affect global markets, investors generally respond with a "flight to safety". Uncertainty created by the threat of escalation causes investors to reduce the level of risk in their portfolios. This typically involves shifting from stocks to relatively safer assets such as gold and bonds, including mortgage-backed securities (MBS). Heading into last weekend, investors were concerned about the possibility of an escalation in the conflict between Israel and Gaza, so they shifted to safer assets. When there was little change in the situation early this week, investors unwound these positions, pushing rates higher. Then on Thursday, Israel announced a ground offensive in Gaza and a Malaysian passenger plane was shot down in Ukraine. These events caused investors to quickly return to safer assets, offsetting much of the earlier rise in rates. In the US, there was mixed news from the housing sector. The National Association of Home Builders (NAHB) Housing Market Index revealed that builder confidence jumped sharply in July to the highest level since January. Less positive, the Housing Starts data released this week, which covers the month of June, showed a decline of 9% from May. This data can be quite volatile from month to month, though.
Are you trying to buy or sell a non-warrantable condo? Call or email me and lets see if your client qualifies for a home loan on that condo. 816-518-4759 and firstname.lastname@example.org A Non Warrantable condo is not eligible to be sold to Fannie Mae or Freddie Mac. Therefore most mortgage lenders will not lend on a Non Warrantable condo.
ABOUT THE USDA / RURAL HOUSING MORTGAGE If you've never heard of the USDA loan program, you're not alone. It's a niche product serving a fraction of the U.S. housing market, and most banks don't offer them. However, many suburban and rural home buyers can use it. The program's full name is the USDA Rural Development Guaranteed Housing Loan program. Most people call them "USDA loans", "Rural Housing Loans" or "Section 502 loans". USDA loans are insured by the U.S. Department of Agriculture and the program's biggest feature is its option for "no money down" financing. Via the USDA, you can finance 100% of a home's purchase price while getting access to better-than-average mortgage rates. Beyond that, USDA loans are similar to other common loan types. The repayment schedule is "normal", closing costs are standard, and there are never prepayment penalties to pay. Where USDA loans are different, though, is with respect to its downpayment requirements and its simpler loan approval standards. Rural loans can be used by first-time buyers and repeat home buyers alike. Homeowner counseling is not required to use the USDA program.
What Is The FHA 203k Construction Loan? The FHA 203k loan is the agency's specialized home construction loan. Available to both buyers and refinancing households, the 203k loan combines the traditional "home improvement" loan with a standard FHA mortgage, allowing mortgage borrowers to borrow their costs of construction. The 203k loan comes in two varieties. The first type of 203k loan is the Streamlined 203k. The Streamlined 203k loan is for less extensive projects and cost are limited to $35,000. The other 203k loan type is the "standard" 203k. The standard 203k loan is meant for projects requiring structural changes to home including moving walls, replacing plumbing, or anything else which may prohibit you from living in the home while construction is underway. There are no loan size limits with the standard 203k but there is a $5,000 loan size minimum. The FHA states that there are three ways you can use the program. 1.You can use the FHA 203k loan to purchase a home on a plot of land, then repair it 2.You can use the FHA 203k loan to purchase a home on another plot of land, move it to a new plot of land, then repair it 3.You can use the FHA 203k loan to refinance an existing home, then repair it All proceeds from the mortgage must be spent on home improvement. You may not use the 203k loan for "cash out" or any other purpose. Furthermore, the 203k mortgage may only be used on single-family homes; or homes of fewer than 4 units. You may use the FHA 203k to convert a building of more than four units to a home of 4 units or fewer. The program is available for homes which will be owner-occupied only.