Dissipation of assets - jumbo home loans- todays interest rates - booming real estate towns
(Las Vegas, NV)
If you are retired, and on a fixed income, but have a high net-worth, did you know you may be able to use the anticipated dissipation of your assets to help you qualify for a jumbo home loan?
For example, $1,000,000 in liquid assets could equate to an additional $5,000 or so per month in loan qualifying income on top of your fixed income.
Here are some interesting items from this week:
From WallStreetJournal.com: “Mortgage Rates Fall, Approach 4%”
From Forbes.com: “Biggest Boomer Towns” (Las Vegas #1)
From RealEstate.AOL.com: “5 Reasons Why Real Estate Deals Collapse”
GOOD QUESTION I WAS THIS WEEK….
Q: “With FHA interest rates at historic lows, how low has the rate gone on the Nevada Bond Program’s 100% financing for 1st time home buyers?”
A: The program’s rates don’t move with the market, which fluctuates daily, sometimes hourly. The program has been in existence for 30 years. Over this time, they have issued and retired more than $2 billion in mortgage-revenue bonds.
The latest $34 million bond issue comes at a rate of 4.35% for home buyers. Once that bond issue is gone and retired, there will be a new bond issue, and very likely, a rate change.
GOOD QUESTION I WAS ASKED LAST WEEK....
Q: “What is the impact of the recent U.S. credit rating downgrade for Bank of America customers?”
A: A credit rating downgrade could impact interest rates for loans, credit cards and deposit products. Any potential change or adjustment to customer interest rates would be initiated via the business-as-usual process.
Contact me for a FREE home valuation Elizabeth Hammack, Allure Realty group LLC Please include your property address and a return email, have a blessed day!
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