New APP for Homebuyers

New APP for Homebuyers

Sitegeist is a new app for both home buyers and real estate agents.  A map pops up for you to select a location then it pulls data from the U.S. Census Bureau and the 2010 American Community Survery (whatever that is).  Info given includes median age of people living in the selected area, average number of kids per household, average incomes and % of renters vs. homeowners.

Interesting info to use as you look for a home to buy.

What is an FHA Loan?

 

What is An FHA Loan?

A Federal Housing Administration (FHA) loan is a mortgage guaranteed by the U.S. government.  The FHA was created to help homebuyers with less than perfect credit or those who don't have a lot of cash for a down payment.

A conventional loan typically requires a 10% down payment where an FHA loan is 3 1/2% down.  You can see why these have become very popular, especially with first time buyers.  Other requirements are usually easier to meet also.

Give me a call and I'll give you some names of lenders who can determine if an FHA or other type of loan program is the best fit for you.