first option lending | First Option Mortgage, LLC - Part 10

Steps for Using Gift Funds for Your Minneapolis Mortgage

September 06, 2013

Coming up with a down payment for a new home can be one of the biggest obstacles that many first-time homebuyers experience. Even at the minimum needed to qualify for a Minneapolis FHA home loan of just 3.5%, considering the average median price for a 2-bedroom home in Minneapolis is $179,558, you would still need a […]

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Is Now a Good Time to Sell in Las Vegas?

September 05, 2013

The median price of a home in Las Vegas has increased nearly 38% from a year ago and a startling 55% since the bottom of the market in January 2012. While high-paying investors have helped fuel the real estate boom, there is little question that this will be a sustained recovery. The greatest question remains: […]

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Phoenix FHA Loans | Waiting Period After Foreclosure Greatly Reduced

September 02, 2013

The Federal Housing Administration (FHA) is allowing borrowers who went through bankruptcy, foreclosure, or a short sale on their Phoenix home the opportunity to purchase once again in as little as 12 months, thanks to new rules released by the FHA late last month. The Rules Have Changed In the past, borrowers who foreclosed on […]

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Last Minute Back to School Tips for Your Family

August 30, 2013

Labor Day represents not only an appreciation for the American labor movement, but for many, it represents the last day of summer vacation. Historically, it’s a day to relax—or a last chance to make sure your children and the whole family are ready for the beginning of the school year. It isn’t easy preparing to […]

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How Your Credit Report Affects Your Indianapolis Mortgage

August 29, 2013

Mortgage interest rates have been creeping up over the last several months, and gone are the days of 3% mortgages on 30-year fixed rate home loans. But, Indianapolis mortgage rates are still competitively low, especially for those with the best of the best credit. Assuming your income and collateral are in good shape and your […]

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Developing a Homeowner Affordability Checklist

August 26, 2013

Homeowner affordability (and stability) is serious business! If you’ve never owned a home before, the number of expenses, known and unknown, that you have to account for can feel pretty daunting. There’s your mortgage, but there’s also mortgage insurance, homeowners insurance, property taxes, repairs … and the list goes on. You’ve probably heard about the […]

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How to Make a Competitive Offer on a Portland Home

August 23, 2013

The Portland real estate market has been accelerating faster than most major cities, coming in at #8 on the National Associations of Realtors list of “Turnaround Towns.” Not only has the median price increased 12% year-over-year, the scarcity of homes on the market has created a highly aggressive atmosphere for buyers. With the average home […]

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