Kansas City Real Estate Network

The Ten CommandmentsWhen Applying for an Olathe, KS. Mortgage Loan ( 6 of 10)     #6)  Thou shalt NOT omit debts or liabilities from your loan application.    Please be very honest and clear about ALL of your debts or liabilities early in the loan application process.  Having the right ...

Brrrr it is cold outside today.  It looks like the job market is starting to turn around, which is great news for the economy.  It also tends to beat up rates a bit, so look for interest rates to start creeping up.  If you have any questions, do not hesitate to call or email me any time.  Have a great week, and thanks for your ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 10 of 10)     #10) Thou shalt NOT change bank statements.    Because the loan process requires a 2 month history of reserve funds, opening new financial accounts near a closing date may void this history.  New bank accounts ...

The Ten CommandmentsWhen Applying for a Gardner, Kansas Mortgage Loan ( 8 of 10)     #8) Thou shalt NOT originate any inquiries into your credit    As mentioned before, multiple inquires into your credit may result in decreasing your credit score.  As this applies to vehicles, furniture, ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 7 of 10)     #7) Thou shalt NOT buy furniture, appliances, or household items before closing.    Although many people are anxious to furnish their new home, during the loan process is NOT the right time.  Large purchases ...

The Ten CommandmentsWhen Applying for an Overland Park, KS. Mortgage Loan ( 5 of 10)     #5)  Thou shalt NOT spend money you have set aside for closing.    Most conventional loans require 2 months of reserve money to be verified in your available financial accounts.  Once it has been verified for ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 4 of 10)     #4)  Thou shalt Not use charge cards excessively or make late payments on ANY of your accounts.      Excessive use of credit cards can have 2 negative affects on your credit rating.  One, inquires ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 3 of 10)     #3)  Thou shalt NOT buy a Vehicle (or you maybe living in it! )   Applying for credit to purchase a vehicle will be recorded as an inquiry into your credit by credit bureaus.  This may decrease your credit ...

The Ten CommandmentsWhen Applying for an Overland Park, KS. Mortgage Loan (2 of 10)     #2)  Thou shalt NOT co-sign a loan for anyone.    During the loan process, any changes to your credit report or status could negatively affect your ability to close your loan on time or at all.  Co-signing ...

"A STEP IN THE RIGHT DIRECTION...BUT DON'T PUSH YOUR LUCK." Barbra Streisand obviously wasn't singing about Bond prices or interest rates in her 1980's song. But those lyrics were fitting last week when the Federal Reserve stepped in with more buying of Mortgage Backed Securities (MBS), helping Bond prices recover from news ...

This short review of the updated tax credit is to help you understand the tax credit. For a complete review of the tax credit, please go to our 4 page review of the tax credit. Tax Credit for Homebuyers First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible ...

Just Released: Kansas City is now accepting applications from home buyers for the Kansas City Dream Home Program. The program offers up to $20,000 down payment and closing costs assistance to qualified home buyers purchasing homes. For more information of program guidelines and contact information for the Kansas City Dream Home Program, click ...

...Giving hope to the hopeful...We receive calls every week from clients and prospective Sellers regarding Loan Modifications....While there are many good resources available to help consumers understand Loan Modifications, these typically involve explain the basics as they relate to FEDERAL guidelines, not the guidelines relevant to your ...

HUD Makes It Official: Tax Credit Available for Limited Uses for Kansas City Home BuyersUnder a policy released by the United States Department of Housing and Urban Development (HUD) on May 29, FHA-approved lenders are authorized to develop bridge loan products that enable homebuyers to access the $8,000 first-time homebuyers’ tax credit at ...

Wow.  Where we live and how we live....What drives us?  Are we, each of us, the sum total of our credit scores?  These scores affect our ability to rent a car, acquire and keep property and casualty insurance...open a bank account...and for 32% of all employers, the ability to choose the "best" candidate for the job. ...

In his work, Conspiracy of the Rich, Rich Dad entrepenour, Robert Kiosaki, discusses the fact that during our current crisis on Wall Street, wealth didn't evaporate, it just changed hands....WHAT DOES THIS HAVE TO DO WITH REAL ESTATE? Your equity, your value, may come back....If it does, and that's a big if, respected economists are ...

So most of us are feeling better about the economy...?  Huh?  Why?  Good question to ask ourselves...Are YOU feeling better about the economy?  The latest government report regarding homebuilders suggests we "feel" better...What does that mean? For most of us, there is an increased sense that credit is ...

I'm standing in line at my tennis club last Thursday, (yeah, OK, sniff sniff, just tennis courts)....Guy in front of me is interested in buying a home, but wants to wait for rates to go down...further.  Huh? Wow.  "Go down further"....Interest rates are at near 40 year lows for 30 year fixed mortgages. ....And home prices ...

it was amazing how quickly I've been losing the weight.  11 pounds inside 3 weeks.  Yep, I'm OK with that. But the real amazing part was how much less I was spending on food....That and my kids are losing weight as well. More green vegetables, more chicken and fish....Less starchy carbs, less fried foods...S'all good.  ...

Has a bottom in real estate been reached?  Well at least some buyers think some.  The National Association of Realtors reported today that The Pending Home Sales Index rose 6.3% to 87.7 in December from a revised reading of 82.5 in November.  What happened?  Homes are simply becoming more affordable.  NAR's House ...