Conventional Loans 3%-5%

CONVENTIONAL FINANCING MILESTONE

GUEST BLOG WRITTEN BY: GREG THOMAS

November 15^th marks another milestone for conventional financing. The minimum down payment of 3% for Fannie Mae backed loans is once again moving back up to 5%. This move will match their Freddie Mac counterpart current requirements. Many lenders will still be able to offer the Conventional 3% down payment program for folks that currently have accepted offer and are in a position to lock their loan by the end of business tomorrow. This probably goes without saying, but a limited amount of folks currently in the market will be able to take advantage of this.

This upcoming change should not be a deterrent for conventional financing for folks that need a low down payment option. Many people do not realize that a gift from a family member is allowed with conventional financing. For example, if a buyer only has 3% of the own money they can receive a 2% (or more) gift. There are even some lenders that allow for the entire down payment to be a gift and still be eligible for conventional financing. This is huge for anyone that thinks or has been told FHA is the only loan available to them. FHA loans have expense financed fees and lifetime PMI!!! Whereas, conventional financing has many more options and is a much less expensive. Be sure to check with a trusted mortgage professional for more details and find out what ALL of your options are before signing on the dotted line.

1910 Ransom Drive

Featured Listing

1910 Ransom Drive

Fort Wayne, IN 46804

Today, I wanted to feature one of our listings. I will be doing this once a week to showcase the properties we that we have listed. This beautiful, quality built home is located in Pine Valley Country Club, a neighborhood in northeast Fort Wayne, IN. It sits on the fifth fairway of the golf course, which provides for a beautiful view.

The large screened in porch provides a comfortable and private space to relax and enjoy the golfers, the view, or time with friends and family. It opens up to a patio area making this home perfect for entertaining! 

I think the kitchen is just beautiful! It has granite counter tops, new cabinets, ceramic tile, stainless steel appliances including a higher end refrigerator! The window overlooks the golf course so cleaning up after meals is made a bit more enjoyable.

I love the vaulted ceilings in the great room, which also has an excellent view of the golf course.

This beautiful home is clean and ready. It has been updated and feels fresh. You should take advantage of this premium golf course location on one of Fort Wayne's finest private golf clubs. This home makes a great impression! It's in a super convenient location near the Parkview campus and the DuPont hospital area, plus it's close to the freeway. For more information, contact Ken Vaughn at 260-413-9416 by either text or phone call, or email him at ken@fwhomz.com, you can also contact Chelsy Vaughn Martin at 260-403-8236 or by email at chelsyvm@fwhomz.com! Make sure to check out our videos below! As always, if you, or someone you know, are interested in buying or selling or are just in need of a bit of real estate guidance, please allow us the opportunity to serve you.

BEST FALL DECORATIONS CONTEST

We are so excited to have our first contest! Make sure to like us on Facebook first!

Next, upload a picture of your favorite fall or Thanksgiving decorations to our Facebook wall. 

In the description, tag FWHOMZ by typing @fwhomz and selecting us in the drop down menu. Then type #bestfalldecorationscontest in the description. Lastly, type a caption for you photo! 

After you have finished that, share your photo with all your friends and family. Tell them to like fwhomz.com on Facebook and then like your photo. 

The photo with most likes by November 22, 2013 at 11:59pm will win a $25 Starbucks gift card. The runner-up will win a $10 Starbucks gift card!

Below is a picture example of what a submission should look like.

We can't wait to see what everyone posts!!! Good Luck!

-The Vaughn Group