FSBO or Realtor to market your home?

Thinking of selling, should you try to do For Sale by Owner FSBO or use a Realtor to market your property?

Monarch Mortgage is an EQUAL HOUSING LENDER!

There are 2 camps the FSBO folks and folks that have had success with a Realtor. I'm a lender, I see a ton of transactions, from my point of view a seller is going to get a REALISTIC assesment of what's happening in the market place from a Realtor that is full time and doing transactions. The seller can take the advice and price their home accordingly with commissions in mind, the success rate of having a Realtor is proven to be a faster smoother transaction for the seller. Many do lead capture and follow up that most homeowners aren't prepared to do or handle. The entire transaction start to finish is like a mathematical algorithm, one thing changes everything. Unless you do this for a living sellers will usually end up wasting time and house payments interest waiting for the perfect buyer going FSBO. Its still a buyers market, get a Realtor and evaluate the real story and then figure out if the dollars make sense to you. We're in the spring market and buyers are out there, if your positioned and marketed correctly now is the best time to sell!!!!

Inventory in Feb 2011, this year Feb 2012 we down to about 5 mos of inventory, the spring market is under way if you want to sell. Realtor are seeing multiple offers and pending sales before they make the appt to show. 

New FHA Collections Rule may set back housing recovery

The New FHA Collections Rule may impact the new housing recovery under way now! Sixty percent of all new purchases are done through FHA mortgage products.  Now is not the time for FHA to severely impact the program. 

I mentioned last week in my weekly email about the increase in UPMIP fee on FHA and the monthly payment, the bigger concern I just read about that you need to be aware of is the new max allowable charge off and FHA Rule collections amount collectively is $1000.00. Currently the way the new FHA rule on collections reads, it doesn’t matter how old the Collection is, and Medical is not excluded. That means the buyer needs to pay it off or be in a payment plan and still Debt Ratio. 

No Monthly Mortgage Insurance for your home loan?

For buyers always who want No Monthly Mortgage Insurance added to their payment!

Monarch Mortgage is a EQUAL HOUSING LENDER

At Monarch Bank we always have our clients best interests at heart, one product that we continue to attract the better borrowers with is our No Monthly Mortgage Insurance (PMI) product.  The way it works is we shop the MI portion of the loan to value you're looking for with MI companies that offer a smaller premium up front vs having it spread out for years. The end result is lower payment with No Monthly Mortgage Insurance added and not having to deal with getting PMI eliminated later on.  The breakeven for the PMI single premium vs paying it monthly varies between 24 and 40 mos.  Compare that to having PMI on your house payment for 8,9 or 10 yrs and most all buyers want it.  We help our Realtor partners with the numbers in negotiating the seller paid concessions and in many cases its no extra cash for the buyer at closing.  Many of our clients aren't even aware that a no monthly Mortgage Insurance product even exists.

Many larger banks have agreements with only one MI company, we shop to find the best No Monthly Mortgage Insurance single premium product out there to help you acheive the lowest payment for what your trying to do.  Monarch Bank lends out of our deposits so we can offer in house underwriting, processing, and closing.  Realtors and Clients love the communication every step of the way from pre approval, negotiations, underwriting and closing!