Obtaining a Mortgage in Central Iowa

Selling your Central Iowa home? Get a free home value report  
Buying a Central Iowa home? Search all homes for sale
 

Today we are excited to be joined by Patrick St. John from the University of Iowa Community Credit Union. As we launch into 2016, you might be thinking about what kind of home you’ll want this year, and what kind of mortgage you can get in order to pay for that home. First, let’s talk about some of the key points to remember when preparing to get a mortgage.

The first thing you need to figure out is who to talk to. As soon as you’re thinking about buying, you should talk with a lender. It’s smart to know what you can or can’t qualify for before you start looking.

There are some changes that have taken place recently in the mortgage world that you should be aware of. These changes have to do with the changing of regulations in the industry, and there have been some added requirements to the process. Typically, it takes between 30-60 days to get through the entire process, but now it will take a little longer, probably at least 45 days.

If you’ve been worrying about saving up for a down payment, you might not need to. There are plenty of mortgage products available at 0% down, with a pretty attractive rate. Even with traditional financing methods, like FHA, you should be able to get any product with 5% down. The days of needing 20% down are over which is opening the door for a lot of buyers.

The time to buy in 2016 is now. If you have any questions about the mortgage process or want to get qualified for a home, give Patrick a call at 319-551-1180. If you have any other questions about real estate or you’re looking to buy or sell in Central Iowa, give us a call or send us an email. We look forward to speaking with you!

The Benefits of the Buyer's Advantage Program in Iowa

Selling your Central Iowa home? Get a free home value report  

Buying a Central Iowa home? Search all homes for sale

Join Our Buyer's Advantage Program Here

At Misty SOLDwisch: Re/MAX Innovations, we offer an exclusive service called the Buyer’s Advantage program. There are some great, unique details that separate our team from the rest.

When you use our program, there’s an opportunity for discounts on already low costing costs offered by the University of Iowa Community Credit Union.

Secondly, we offer free radon testing during the inspection period.This helps you save time and money. If necessary, we offer a discount on an installation of a radon mitigation system. AmeriSpec Home Inspection Services and their sister company, AmeriServe, helps us do this!

If you need a truck to help you move into a new home, you can use our moving truck through this program.

Lastly, one of the best services we offer is our Love It or Leave It program. It’s perfect for a situation where you like a home but are unsure if your situation changes within a year. If you need to move within a year, we offer discounted services to help sell your home and move you into the right home.

Wait, there’s one more thing. When you close, we give you a bag full of goodies, including a pizza party kit. When you invite everyone over to help you move, we already have that complimentary meal taken care of for you.

When you add this all up, you receive thousands of dollars in value. We know there’s a lot that goes along with moving, so that’s why we offer the Buyer’s Advantage Program. If you have any questions about this program or more, give us a call or email today.

Three Ways to Win a Home in a Hot Central Iowa Market

Selling your Central Iowa home? Get a free home value report  
Buying a Central Iowa home? Search all homes for sale

Inventory is quite low in Central Iowa right now, and this means that you'll be facing stiff competition if you're looking to buy a home. You may be placing offers on homes that already have two or three willing buyers, and this means that your offer will need to stand out above them all.

Negotiating on homes becomes different and more strategic when inventory is low. However, there are three keys to success that we've found when negotiating in this market.

1. Be prepared to act quickly. This involves knowing what you want and being able to pull the trigger when you see a home that suits your needs. Homes are selling in less than a week, so act on your impulses.
2. Make a strong offer from the beginning. Now is not the time to quibble with sellers. You need to prove to them that you're very serious about buying a home. Make a strong offer to set yourself apart as a willing buyer, and if it is passed over or rejected, find comfort in the fact that you did everything you could to try and win that home.
3. Write a letter to the seller. Let them know a little about you and why you love their home. A little personal touch can go a long way in a deeply emotional transaction like this, and sometimes sellers will surprise you with how they respond to heartfelt communication.

These three simple things have been key to buyers in our local market, so we hope that they can help you to find good homes. If you're having trouble buying in Central Iowa, please don't hesitate to contact our team. We would be more than happy to help you find a good home!

How Can a Buyer Specialist Help You?

Selling your Central Iowa home? Get a free home value report  
Buying a Central Iowa home? Search all homes for sale

Today I would like to speak about the benefits of using a buyer specialist from our team. It's already a wonderful time to buy a home with ultra-low interest rates right now, but using our buyer specialist will make your transaction run even smoother!

Our home buying specialist only works with buyers, so they know all there is to know about buying a home. They will have a consultation with you in order to determine exactly what you need out of a home in order to narrow your home search.

When you work with a buyer specialist, you will be able to look at any home that's available in the Central Iowa market, even if it's not listed on the MLS.

We also want you to know that our home buying specialists are experts on all levels of the process. They know how to negotiate, and they know how to find you good financing, as well as a good home warranty. You're in great hands when you use our buyer specialists.

If you have any questions about this service, please don't hesitate to contact us. Now is an absolutely wonderful time to buy a home in Central Iowa!
 

Are Newly Constructed Homes or Old Homes the Better Choice in Central Iowa?

The Central Iowa real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Central Iowa click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 515-229-9764.

 If you're thinking about moving, you've probably considered whether you want to build a new home or purchase an older one. Today, we want to share some tips so you can make the decision that's right for you and your family. 

There are many advantages to new construction. For one, the builder will use the latest and greatest designs to give your home a very modern feel, and without having to do any of the work yourself. New homes also have great warranties. Often, if any defects come about in a year or so, they'll come and repair them for you. Warranties make your life a bit easier, especially if you don't want to worry about maintenance in the near future. With new construction, the builder will often work with a mortgage professional to create a special financing package. This makes it very easy to finance a new home, and it even offers some special perks.

Older homes also offer some great advantages. Typically, these homes have a lot of character, and have features like interesting woodwork, lots of built-ins, unique fireplaces, and other things that are difficult to duplicate in new construction homes. In addition to some of their unique characteristics, older homes are usually in more mature neighborhoods than newly constructed homes; extensive landscaping, big trees, and other things that are very difficult to find are just a few of the benefits. Lastly, there is simply an overall uniqueness, whereas new construction homes tend to be built in similar styles.

So, what's right for you? It depends. What kind of lifestyle do you have? What do you enjoy doing? Do you have a tolerance for maintenance? One thing we like to do with buyers is have a consultation. We get together with you and go through what your lifestyle needs are, both today and in the future, so we are able to guide you to what's going to be a better fit for you and your needs!

If you have questions about how we can help, or would like real estate assistance of any kind, we're here to help! Give us a call or shoot us an email for the expert service you deserve!

Thanks for stopping by, and have a lovely day!

What Are the Advantages of Buying a HUD Home?

The Central Iowa real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Central Iowa click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 515-229-9764.

Today, we want to discuss the advantages of buying a HUD home.

What exactly is a HUD home? If you're unsure, you're not alone. A HUD home is a 1-4 unit residential dwelling acquired from the Department of Housing and Urban Development as a result of a foreclosure on an FHA-insured mortgage. HUD takes the home into its inventory and sells it to recover the lost funds. 

How does it work? Homes are sold through a closed bidding process online. Because it's an unorthodox process, it's very important that you work with an agent that understands exactly how the bidding process works and knows what to expect when representing you as a buyer. HUD has a property management company that goes into the home first and does a property inspection that's available for viewing on HUDhomestore.com. This ensures that you'll have an idea of the general condition of the home.

When buying a HUD home, you will also have an opportunity to turn on utilities and perform your own inspection after you have an accepted bid. HUD gives priority to owner-occupant buyers, which means you don't have to worry about being outbid by a cash investor on a desirable home in a great neighborhood. Generally, depending on the type of bid period established, you will have up to 30 days where only owner-occupants can place bids. 

Another advantage of a HUD home is the ability to negotiate closing costs into the purchase. If you need to have some of the closing fees rolled into the purchasing price in order to give you the buying power that you need, you're able to negotiate up to 3% of the sales price to help you with the purchase.

An advantage of working with the Misty SOLDwisch Team is our five-plus years of experience listing HUD homes. We would love to help you get a great deal on a great home. Give us a call or shoot us an email if you would like to purchase a HUD home, or if you have any questions about real estate in general. We would love to hear from you!