LenderBradford's Blog

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Mortgage and Lending - NMLS142066/250013
Information about Financing Options in Northern Ohio as well as information about people, places and events in Northern Ohio. Northern Ohio is a Great Place to live and work.
RECENT BLOG POSTS
Jeff,   Great post and great summary of compensating factors.   This is a definite reblog for both Consumers and Real Estate professionals.    Thanks.  FHA Home Loans have been a big part of the home buying process when it comes to your financing options. This might not mean much to many, but whe...
07/30/2010
For any first time home buyers or realtors wanting to save their borrowers money you may want to look at the OHFA First Time Buyers Mortgage Credit Certificates program.   The Federal Income Tax Credits can exceed the $8,000 Stimulus Program many times and the Tax Credits continues every year you...
07/27/2010
Great post about the need for lenders to verify any deposits to your account.   Before making any deposits to you account you need to make sure you have the audit trail in case it is needed. Dang! It just happened again! My buyer's daughter transferred $20K into their account, because they're rea...
07/25/2010
Any buyers or Realtors looking at Bank Owned properties should read this post.   When the Bank Cleans out the house, they clean out everything.  BANK PRESERVATION CREW STOLE MY STAGING MATERIAL       CASH FOR KEYS I completed a Cash for Keys on an REO where the owners were still in occupancy. It ...
07/24/2010
As said here, Rates are great.   It is a good time to refinance or to buy a home.     Mortgage interest rates continue to still be very low, ranging from 4.25% to 4.75% for a 30 year fixed rate.  So why are interest rates so low?  Some investors on Wall Street fear a double dip recession approach...
07/24/2010
Great post by a fellow ActiveRainer.   His pointing out that Credit Scores alone can not be used.   Underwriters will look at more than just them.   From the consumer - "I have bad credit".. "my credit is so so"... "my credit is good". "My credit scores are good", etc, etc. I have heard it all an...
07/19/2010
The State of Ohio has allocated more Tax Credit Money for Home buyers, It allows qualified homebuyers to recieve an annual tax credit for 20-30% of the interst paid on their loan each and every year that they owner occupy the property.   Because this tax credit is ongoing each year, the savings p...
07/07/2010
 First-Time Homebuyer Program Effective Date: July 8, 2010 12:01am Mortgage Rates • 4.75% for loans without 2.5% assistance grant • 5.25% for loans with 2.5% assistance grant • 4.50% for Ohio Heroes without 2.5% assistance grant • 5.00% for Ohio Heroes with 2.5% assistance grant • 4.75% for Grant...
07/07/2010
Below is a great post from another member at ActiveRain.  His post simply shows how the difference in the Price of a Home and the interest rate on the loan go hand in hand.  To any homebuyers that read this posting, if you have the want or need to become a homeowner, the best time is now.   You c...
07/01/2010
From the NAR site   and can be confirmed here http://thomas.loc.gov/cgi-bin/bdquery/z?d111:H.R.5623:   Tax Credit Extension and Flood Insurance Program Pass Congress. After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuye...
07/01/2010
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Tim Bradford

NMLS 250013
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Information about Financing Options in Northern Ohio as well as information about people, places and events in Northern Ohio. Northern Ohio is a Great Place to live and work.