25 Oct 08 
New Home Incentives
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Below is a list of new home incentives from home builders throughout the U.S. All the information was gathered from the home builder’s website, or from a third party publisher of new home information. Visit each home builder for more information about their incentives and disclaimer(s).
Ryland Homes – This weekend Ryland Homes is having a National Clearance Event! Ryland has incredible pricing on their move-in ready homes and are offering free Washer, Dryer, refrigerator and Window Covering with the purchase of any new move-in ready home! Let Ryland show you how with 5.5% 30-year fixed rate* Visit www.RylandHomes.com for more details.
Cachet Homes – Cachet Homes has a holiday sale going on right now. The finest gifts don’t always come in small packages. The Cachet Home you aspire to is now within reach. When you purchase now during our Home for the Holidays Gift Event, you’ll not only receive a breathtaking deal on an elegant new home, could also move in before Thanksgiving. If you buy now you will also receive a $25,000 Home Joy Certificate. Visit www.CachetHomes.com for more details
Touchstone Homes – Touchstone Homes is cutting prices on their new homes. You can save up to $100,000 on the purchase of a new home. Plus they will give you $5,000 off of your closing cost. For more details come visit www.TouchStoneHomes.com
Trend Homes – Trend Homes has a special going on right now with Bank Short Sale Dream Homes from $901/mo. Visit Trend Homes to find out more about Pre-Approved bank short sale homes now. These homes are priced right and ready to move into. For more details visit www.TrendHomes.com
Meridian Homes – Meridian Homes has 23 New Home Communities in Atlanta and 4 New Home Communities in Upstate South Carolina. They are running a fall special with up to 6% incentives for Move-in ready homes. For more details visit www.MeridianHomes.com
Meritage Homes – Meritage Homes is bringing back Down Payment Assistance. You need 3% for a down payment on a new home. Whether you take that money from you savings or your brother Darryl, Meritage will pay it directly back! This is a limited time offer visit www.MeritageHomes.com today!
Canterra Homes – Canterra Homes has move-in home available starting at the $145,000.* there is no need to cry it is a good thing. With 4 communities in Arizona visit www.CanterraHomes.com for more details.
Visit New Homes Section today to search home builders, new home incentives, green homes for sale, quick move-in homes and new home communities. Makes sure you come back next Saturday for an even bigger list of these incredible incentives!
Tags: Home Builders, incentives, move in ready, new home, savings
20 Sep 08 Real Estate Incentives
Below are home builder incentives and information about Arizona real estate. All information was found in the Arizona Republic on September 20, 2008. The home builder incentives and events are considered reliable, but please contact each home builder or visit their website for more information about their mentioned event, incentives, location, sales pricing and disclaimer(s).
If specific information about a home builder’s community or new home pricing is not mentioned it was not in the paper or the home builder has several Arizona communities.
Single-family
William Lyon Homes – Experience the pride.
Meet your MATCH at www.lyongateaz.com
Home + Family = Love
Tags: condominiums, condos, incentives, new home, Real Estate, single family
30 Jul 08 Buy and Bail Revisited! Home Buying Loan Changes
So if you plan on looking or are already in the process of buying a new home I strongly suggest you make sure your still qualified.
Now I am going to lay out some guidelines that are commonly used to help people get qualified to buy a home and will detail what to look out for moving forward.
· Buy and Bail Revisited- I have documented several times here about the Buy and Bail Rules so now it is official! The new rules are now out and will go into effect on August 1st so make sure you lock in your loan before then or fall victim to the new rules.
Turning your current home into and investment property while attempting to buy another property, this is now a HUGE concern for lenders and the new rules states:
“If borrower is renting out their current home and purchasing a new primary residence, to use rental income to qualify, the following requirements must be met: 75% of rental income may be used to offset the mortgage payment in qualifying if there is documented equity of at least 30% in the existing property, derived from an appraisal.”
OUCH!
That one is Huge and should have a lasting impact on the Real Estate Markets all over the country. Previously all you needed to do was document with a lease agreement a reasonable rental income and then you could use up to 75% of that rental income to counter the existing mortgage payment regardless of equity position.
SO if you DON’T have the 30% equity you still have options, you will need to qualify to buy your new home using both new mortgage payments and existing mortgage payments against your debt to income ratio. (Qualify with both Mortgage Payments) The same would be true if you kept your current home as your second home.
· Credit Changes- In addition to these changes you will see that FNMA is tightening its’ credit guidelines. This will produce an interesting scenario further limiting new home buyers to those in relatively great financial positions, I guess that is the way it should be really.
Two changes in the credit area you need to be aware of:
First, No longer can you pay down installment loans to under 10 months or less and not have them used against you to qualify.
Second, Credit that shows no monthly payment because balance is due monthly will be held to 5% of balance as payment or proof account is paid in full by the close of escrow.
Also, Conventional financing just got even more credit sensitive so if you haven’t looked into an approval and think your mid-600 credit score is okay you might check again.
As always I am here to help! You can find more articles at www.brentlane.wordpress.com or www.thelanegroup.blogspot.com
Brent Lane
Tags: brent lane, buy and bail, buying a new home, credit, credit changes, equity, financing, home buying guidelines, investment property, mortgage payments, new home, pay down installment loans, real estate market, rental income, second home, the lane group
