How to choose the right Realtor for you!

Every decision you make has the ability to impact your future- the career field you enter, the route you take to work in the morning, what qualities you look for in a new car; you put effort into all of these decisions and realize the significance of them. Shouldn't choosing a Realtor also be a well thought out decision?

A Realtor is similar to an investment banker in that they offer you advice about where to put your money for the best results, whether they be short or long term investments. The title of "real estate agent" belongs to many people- about 340,000 in 2012. The Bureau of Labor Statistics expects that the field will grow by roughly 11% by the year 2022. That being said, you have ALOT of options when it comes to selecting the right agent for your needs.

According the Realtor.com, the definition of a real estate agent is anyone who has earned a license in real estate- this means that they have attended the classes (how many and what type are determined by individual states) and has passed the state licensing test. A REALTOR is the same BUT is held to a national code of ethics. This designation ranks an agent as highly qualified. After that difference, there are many more specifics such as buyers and sellers agents, closing agents, etc. For today, we will speak in slightly more broad terms.

When you are preparing to venture into real estate- be it buying or selling a home- you should really consider the type of person that you want to do business with and what qualities they should possess. For example:

- Is this their full time job?
- How much experience do they have and do I feel comfortable with them having?
- How much effort will they put into my listing/home search?

When you have your desired qualifications listed, start finding agents in your area. This can be by searching the internet, calling a local real estate office [like a Keller Williams ;)], or asking friends and family for referrals. Go over your list and start weeding out those whose qualifications do not meet your desires. Most agents will have websites that list their achievements AND current listings, some have reviews on local websites- be thorough in your research.

Once this large list is narrowed down, start calling and making in person appointments with whomever is left on your list. An in person interview will likely answer more questions than internet research. A good agent will have no qualms going over what information you need in your search and about how they will assist you in getting that information. You should feel completely comfortable with your agent, so don't be shy or beat around the bush during the interview process. If your personalities and goals do not mesh well then this journey into real estate might be long and miserable.

The end goal is for you to be happy with your agent and the direction of your "real estate journey." Don't just leave your dreams and hopes for the future in the hands of someone that you are unsure about. Don't feel bad about "shopping" for agents- it's your right to be an informed consumer!

Want to learn more about Earthquakes?

Mortgage Rates Free Fall

Mortgage rates plunge, 15-year rate hits new low

Section 184 Indian Home Loan Guarantee Program

What is the Section 184 Loan Guarantee Program?

The Section 184 Indian Home Loan Guarantee Program is a home mortgage specifically designed for American Indian and Alaska Native families, Alaska Villages, Tribes, or Tribally Designated Housing Entities. Section 184 loans can be used, both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance. Because of the unique status of Indian lands being held in Trust, Native American homeownership has historically been an underserved market. Working with an expanding network of private sector and tribal partners, the Section 184 Program endeavors to increase access to capital for Native Americans and provide private funding opportunities for tribal housing agencies with the Section 184 Program.
To help increase Native access to financing, the Office of Loan Guarantee within HUD’s Office of Native American Programs, guarantees the Section 184 home mortgage loans made to Native Borrowers. By guaranteeing these loans 100%, we encourage Lenders to serve the Native Communities. This increases the marketability and value of the Native assets and strengthens the financial standing of Native Communities.
Section 184 is synonymous with home ownership in Indian Country. As of 2010, the Section 184 program has guaranteed over 12,000 loans (almost $2 billion dollars in guaranteed funds) to individuals, Tribes, and TDHEs.

Map of guaranteed loans to date by state

The program has grown to include eligible areas, determined by participating tribes, across the country.

Map of eligible areas by state where the 184 loan can be used

Please visit www.hud.gov  to get futher information.

Frozen Key Lime Pie

USDA HOME LOANS IN OKLAHOMA

Single Family Housing Loan Guarantees (Section 502)

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. Eligibility: Applicants for loans may have an income of up to 115% of the median income for the area. Area income limits for this program are available by clicking here. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance. In addition, applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories. Approved lenders under the Single Family Housing Guaranteed Loan program include: Any State housing agency; Lenders approved by: HUD for submission of applications for Federal Housing Mortgage Insurance or as an issuer of Ginnie Mae mortgage backed securities; the U.S. Veterans Administration as a qualified mortgagee; Fannie Mae for participation in family mortgage loans; Freddie Mac for participation in family mortgage loans; Any FCS (Farm Credit System) institution with direct lending authority; Any lender participating in other USDA Rural Development and/or Consolidated Farm Service Agency guaranteed loan programs. Terms: Loans are for 30 years. The promissory note interest rate is set by the lender. There is no required down payment. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt. Standards: Under the Section 502 program, housing must be modest in size, design, and cost. Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and RHS thermal and site standards. New Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and RHS thermal and site standards. Existing manufactured housing will not be guaranteed unless it is already financed with an RHS direct or guaranteed loan or it is Real Estate Owned (REO) formerly secured by an RHS direct or guaranteed loan. Approval: Rural Development officials have the authority to approve most Section 502 loan guarantee requests. all information above should be confirmed by your lender and HUD

13901 Sauna Ln

13901 Sauna Ln