Get More Home for the Money
What do home buyers want....it varies greatly. I think that one thing that all home buyers have in common is that they want the most house they can get within their budget.

Let me tell you how an extra 1.5% down payment can turn into a 10% increase in purchase price without increasing the monthly payment.

Qualifying After a Short Sale

4155.1 4.C.2.l Short Sales

A borrower is not eligible for a new FHA-insured mortgage if he/she pursued a short sale agreement on his/her principal residence simply to

• take advantage of declining market conditions, and

• purchase a similar or superior property within a reasonable commuting distance at a reduced price as compared to current market value.


Borrower Current at the time of Short Sale

A borrower is considered eligible for a new FHA-insured mortgage if, from the date of loan application for the new mortgage, all

• mortgage payments on the prior mortgage were made within the month due for the 12-month period preceding the short sale, and

• installment debt payments for the same time period were also made within the month due.


Borrower in Default at the time of Short Sale

A borrower in default on his/her mortgage at the time of the short sale (or pre-foreclosure sale) is not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale.

Are we tired of hearing people say, "Now is the time to buy"?
For a first time home buyer it really is. This video shows how buying a home with very little down at today's rates will give you a cheaper payment than renting the same house.
This doesn't even take into account the tax savings!

Get More Home for the Money

What do home buyers want....it varies greatly. I think that one thing that all home buyers have in common is that they want the most house they can get within their budget.

Let me tell you how an extra 1.5% down payment can turn into a 10% increase in purchase price without increasing the monthly payment.

I think you would be a Hero to your buyer if you could help them get 10% more more house for the same payment.

How to Eat an Oreo

This video could be a metaphor for life. Maybe not.
Allow me to share with you something that has changed my life and made me a happier person.

Making the most of your refinance

This is a mortgage tip that would make Dave Ramsey proud. Yes, your refinance is going to lower your monthly payment but that doesn't mean that you HAVE to lower your monthly payment.

PAY EXTRA! At the very least continue to pay what you are paying now. Over the life of the loan you could reduce the total interest you pay by 30% or more and pay it off 6 years earlier or more.

Am I wearing the same shirt that I was wearing when I did my last video? What a loser. Please refer your friends and family, I only have enough money to afford one shirt!

Should I Refinance

Interest Rates are AWESOME right now. You may even be able to get below 4.5% APR.
It is important to look at how much it costs compared to how much you can save. I believe you need to be able to save enough money every month to recuperate the cost of the refinance in less than 2 years. I explain that in this video.

If you or a friend or family member has a rate aboce 5.5% I can probably save them enough money to justify a refi.

For FHA loans this doesn't apply because First Colony Mortgage has no closing costs on an FHA refinance.