Inlanta Mortgage Blog: David Leonard

5 First Time Home Buyer Guidelines to Help You Make the Best Decision

David Leonard — Tue, 28 May 2013 16:30:25 +0000

If you are ready to make the choice to become a home owner, here are some guidelines to help you make the best decision for your circumstances.

Read the rest of 5 First Time Home Buyer Guidelines to Help You Make the Best Decision (341 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Home Affordable Refinance Program (HARP) Extended until 12-31-2015

David Leonard — Mon, 29 Apr 2013 15:29:23 +0000

The Federal Housing Finance Agency has extended the Home Affordable Refinance Program (HARP) by two years. This allows the continued use of Fannie Mae’s DU Refi Plus and Freddie Mac’s Relief Refinance Mortgage (also known as Open Access) through December 31, 2015. This program was extended last year and was set to expire December 31, 2013.

Washington, DC – The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013.

“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rates.”

Read the full announcement here: http://www.fhfa.gov/webfiles/25112/HARPextensionPRFINAL41113.pdf

Read the rest of Home Affordable Refinance Program (HARP) Extended until 12-31-2015 (78 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Ways that a Reverse Mortgage May be Better than a Bridge Loan for Kids of Baby Boomers

David Leonard — Tue, 23 Apr 2013 19:08:30 +0000

The modern era has seen a new phenomenon not previously experienced in this country. People are waiting a bit longer to get married and have children. Gone are the days of individuals marrying at 20 or 22 and having a couple of kids by 28. Now, people may not get married until they are almost 30 and then have kids. The longevity of the Baby Boomer generation means that these people in their 30′s and 40′s are now trying to raise their own kids while also caring for their elderly parents. This situation has led many people to either buy one large house to combine with their senior aged parents or help their parents buy a home very close to them. For these families a reverse mortgage is usually a better idea than a bridge loan.

Read the rest of Ways that a Reverse Mortgage May be Better than a Bridge Loan for Kids of Baby Boomers (308 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Follow the Steps of Thousands of Other Homeowners and Refinance with the HARP Program

David Leonard — Tue, 26 Mar 2013 16:18:23 +0000

At the present, over 20% of American homeowners feel that their home’s value is actually lower than the balance of their mortgage. Thankfully, a program has been designed to help these people that are “under water” on their mortgage. The HARP (Home Affordable Refinance Program) was introduced by the Federal Housing Finance Agency in an effort to help homeowners stay in their home and avoid a costly loss.

Read the rest of Follow the Steps of Thousands of Other Homeowners and Refinance with the HARP Program (327 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Should a Potential Buyer Give Money to a Seller to Make Repairs?

David Leonard — Tue, 19 Feb 2013 17:46:10 +0000

People considering a home purchase often feel the pressure of many emotions. They want to get out of their current living situation and into a presumably better home. Having a place to call their own, and make their own choices, is very enticing for many people. So what should a buyer do if the seller asks for money to make repairs?

Typical Scenario

Here is a common situation. A young couple wants to buy their first home and they are considering a FHA mortgage. They find a home that they like, in their price range, but the home needs a few updates. Perhaps the interior paint does not suit their taste, or the carpet is outdated, or the couple would prefer energy saving windows. Whatever the case, the buyers approach the sellers and ask about these improvements. The seller says “sure, I can do these improvements, if you pay me the cash for it.”

What should the buyer do?

Read the rest of Should a Potential Buyer Give Money to a Seller to Make Repairs? (239 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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VA Mortgages Growing in Popularity as Lending Rules Remain Strict

David Leonard — Tue, 22 Jan 2013 16:46:46 +0000

While the sub-prime mortgage industry has all but evaporated and many people fight to get a conventional loan, the number of VA home loans has increased by 50 percent in 2012. The number of loans approved is the highest number of loans since the year 1994.

Read the rest of VA Mortgages Growing in Popularity as Lending Rules Remain Strict (370 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Fannie Mae Offering Streamlined Refinance in the Form of DU Refi Plus

David Leonard — Tue, 18 Dec 2012 16:28:09 +0000

The VA home loan program has spread the word on their Interest Rate Reduction Refinance Loan (IRRRL) for years. This loan makes it easy to refinance an existing VA loan at today’s great rates with reduced paperwork. Now, people who have a loan via a Fannie Mae lender can get a similar deal with the DU Refi Plus.

Read the rest of Fannie Mae Offering Streamlined Refinance in the Form of DU Refi Plus (363 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Low and No Down Payment Loans Still Exist: FHA and USDA Rural Housing Most Popular

David Leonard — Wed, 14 Nov 2012 20:10:25 +0000

If you have worked at the same place for the past two years, paid your rent and other bills on time and have an average credit rating, you can become a homeowner. Having a down payment equal to 10% of the sales price is just not necessary in every case.

USDA

The true, no money down mortgage that is currently available with great interest rates is the home loan program offered by the USDA (United States Department of Agriculture). The program is often referred to as the Rural Home Loan, but the name should not stop you from investigating this type of loan. Every state has areas that are eligible for this type of loan. In fact, most large cities have areas just beyond the city limits that are eligible for a USDA loan.

Read the rest of Low and No Down Payment Loans Still Exist: FHA and USDA Rural Housing Most Popular (190 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Understand The Reverse Mortgage Before Signing on the Dotted Line

David Leonard — Wed, 17 Oct 2012 19:23:09 +0000

Recent estimates state that as much as 30% of Americans own a home without any mortgage debt. The majority of these people are seniors who are either retired or facing retirement. Unfortunately, some of these people may be in danger of losing their home due to high property taxes, rising health costs or a major expense beyond their current means. It is for these reasons that the reverse mortgage was invented.

Read the rest of Understand The Reverse Mortgage Before Signing on the Dotted Line (210 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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The USDA Mortgage: One of the Few No Money Down Mortgages

David Leonard — Wed, 19 Sep 2012 20:01:44 +0000

Consumer financial experts advise people to save up for a down payment on large purchases such as a car or home. The rule of thumb is to have at least 10% of the purchase price saved up in order to pay down the amount and get better financing. However, buying a house, and maintaining the property, can get expensive. Saving up $15,000 for a down payment, plus an extra $2,000 to $3,000 for improvements or a rainy day fund can really take some time. What if there was a way to save up AND get a home without a down payment? Thanks to USDA Rural Housing, that can be a reality.

Read the rest of The USDA Mortgage: One of the Few No Money Down Mortgages (178 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Jumbo Mortgages Have Lowered Their Rates but Restrictions Still Apply

David Leonard — Fri, 17 Aug 2012 19:31:56 +0000

It is getting slightly easier to find lenders willing to offer a jumbo mortgage. Better yet, the rates are ridiculously low. However, there are still a few restrictions in place when it comes to these specialized loans.

Changed Limits

Jumbo mortgages are loans higher than the conforming limit of $417,000. In high cost regions like New York City or Los Angeles, the limit is $625,500. That is a significant decrease from the high cost limit of $729,750 that was in place until the year 2011. This change in allowable limits for conforming loans caused many buyers to look to the jumbo mortgage market to find suitable financing.

Read the rest of Jumbo Mortgages Have Lowered Their Rates but Restrictions Still Apply (227 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Is an FHA Mortgage Cheaper Than a Conventional Mortgage?

David Leonard — Tue, 24 Jul 2012 16:54:31 +0000

It would seem that the typical conventional loan is a cheaper loan than that of FHA. FHA charges a couple of things not found with a conventional loan. However, that is not the whole story.

Read the rest of Is an FHA Mortgage Cheaper Than a Conventional Mortgage? (230 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Preparing for Your First Home Purchase

David Leonard — Tue, 26 Jun 2012 20:00:01 +0000

Many things in life necessitate preparations. Vacations typically require arranging a place to stay, transportation and some idea of leisure activities. A wedding takes a lot of planning to get the food, venue, dress, flowers, music and all the other things necessary for a beautiful day. Buying a home, especially for a first time home buyer, also requires necessary preparation.

Read the rest of Preparing for Your First Home Purchase (279 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Bad Economic News Can Be Good News For Those Seeking a Mortgage

David Leonard — Thu, 24 May 2012 18:06:20 +0000

People who make their living based on stocks, bonds and all of the other financial instruments have not had any good news in quite a while. However, the bad news that is plaguing these finance professionals is relatively good for people who wish to refinance their current mortgage loan.

Read the rest of Bad Economic News Can Be Good News For Those Seeking a Mortgage (168 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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Spouse of Military Veterans Can Apply for a VA Mortgage Loan

David Leonard — Tue, 17 Apr 2012 19:09:22 +0000

The act of war can be so ugly. Lives are lost, families broken apart and countries are damaged. The United States government realized many years ago that no amount of money could make up for the loss of a loved one. But, extending benefits to the surviving spouses could help the spouse and potential family maintain a quality home. That is the nature of the Veterans Administration (VA) Surviving Spouse Benefit.

Read the rest of Spouse of Military Veterans Can Apply for a VA Mortgage Loan (244 words remain)

INLANTA is a trademark of Inlanta Mortgage, Inc.

Inlanta Mortgage
368 Junction Road
Madison, WI 53717
Phone: 608-245-6905
Toll Free:
877-240-5810
NMLS ID #1016

Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and Vermont.

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