Housing Assistance Corporation (HAC) - Cape Cod’s Post

#RentvsBuy 🏠🎉 Owning a home can provide a sense of accomplishment and pride, as it is a significant achievement and milestone for many people. YOU did it! YOU have become a homeowner! Habitat homeowners saved enough money to put down a 1% down payment, pay an affordable mortgage that is 1/3 of THEIR income, and volunteered “sweat equity” hours helping build their home and their neighbors' homes. That IS an accomplishment! Find out if you qualify to be a Habitat LA homeowner and fill out the pre-eligibility questionnaire! https://bit.ly/3U2rMMr #habitatla #buildla #homeownership #affordablehomes #greaterla #greaterlosangeles #ownership

👉 Take a look at the Program Highlights below: ✅ HomeAbility will assist disabled borrowers who have income not exceeding 80% AMI per borrower ✅ 30-year amortizing conventional mortgage for the first lien ✅ Second (non-amortizing) lien is deferred for the life of the first lien ✅ Second lien (up to 25% of the purchase price, with a maximum CLTV of 105%, capped at $45,000) ✅ The second lien (up to 25% of the purchase price with a maximum CLTV of 105%, capped at $45,000) can be used for down payment, closing cost assistance and/or principal Curtailment ✅ One of the borrowers is disabled; OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age) Got questions? Reach out to me at 📞 443-253-1579 for more info! #HomeAbility #Homeownership #PRMI

9/11 didn't just shake our hearts, it shook our economy, including the housing and mortgage industries. It taught us the importance of security, planning for the unexpected, and creating a stable home environment for our families. Today, we honor the courage shown that day and the perseverance that followed. As we look to the future, let's continue to build strong, secure homes where families can grow and thrive. #PatriotsDay #911Remembrance #MortgageAdvice #Homeownership #Resilience #MortgageChic #DauphinMortgageTeam

9/11 didn't just shake our hearts, it shook our economy, including the housing and mortgage industries. It taught us the importance of security, planning for the unexpected, and creating a stable home environment for our families. Today, we honor the courage shown that day and the perseverance that followed. As we look to the future, let's continue to build strong, secure homes where families can grow and thrive. #PatriotsDay #911Remembrance #MortgageAdvice #Homeownership #Resilience #MortgageChic #DauphinMortgageTeam

How many seniors have a reverse mortgage? The answer will probably shock you! There is a great need for this product within the senior community. But the vast majortiy of them forego getting a reverse mortgage for a simple reason. Here are the links to the statistic I quotes in this video. Median Savings - https://lnkd.in/gF6jzGiV Seniors @ 200% of Federal Poverty Level - https://lnkd.in/gghkGGYn Seniors Skimping on Daily Needs to Pay for Medical Care https://lnkd.in/gghkGGYn Out of Pocket Expenses for Seniors - https://lnkd.in/giqT_A4A Cost of Long Term Care https://lnkd.in/guxpB9Tt

👉 Take a look at the Program Highlights below: ✅ HomeAbility will assist disabled borrowers who have income not exceeding 80% AMI per borrower ✅ 30-year amortizing conventional mortgage for the first lien ✅ Second (non-amortizing) lien is deferred for the life of the first lien ✅ Second lien (up to 25% of the purchase price, with a maximum CLTV of 105%, capped at $45,000) ✅ The second lien (up to 25% of the purchase price with a maximum CLTV of 105%, capped at $45,000) can be used for down payment, closing cost assistance and/or principal Curtailment ✅ One of the borrowers is disabled; OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age) Got questions? Reach out to me at 📞 410-804-6914 for more info! #HomeAbility #Homeownership #PRMI

👉 Take a look at the Program Highlights below: ✅ HomeAbility will assist disabled borrowers who have income not exceeding 80% AMI per borrower ✅ 30-year amortizing conventional mortgage for the first lien ✅ Second (non-amortizing) lien is deferred for the life of the first lien ✅ Second lien (up to 25% of the purchase price, with a maximum CLTV of 105%, capped at $45,000) ✅ The second lien (up to 25% of the purchase price with a maximum CLTV of 105%, capped at $45,000) can be used for down payment, closing cost assistance and/or principal Curtailment ✅ One of the borrowers is disabled; OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age) Got questions? Reach out to Frank Young at 📞 410-322-1440 for more info! #HomeAbility #Homeownership #PRMI

It is nice to finally see commentary on the effect Dodd-Frank, the SAFE Act, and other regulatory hurdles have had in driving up housing costs. In 2007, in response to oversupply of houses, we adopted aggressive policies to make sure we wouldn’t have so many underwater mortgages. They worked. But, we never adjusted it. The “medicine” had a long-term side effect of discouraging pretty much everybody (lenders, homebuilders) from trying to touch lower dollar mortgages. It’s time to consider regulatory reform on mortgages to improve housing affordability. #homeownership #mortgage https://lnkd.in/gJjfYuNy

How much money do you need to make to "afford" a $1.5M home today vs. 2 years ago? Keeping this simple - we buy a house for $1.5M, put a down payment of $400,000 and finance $1.1M with a 30-year mortgage. Our measure of 'affordability' is keeping the payment to 28% of Gross Income. $1.1M @ 7% for 30 years = $7,318 month or $87,816 year ➡️$87,816 / 28% = $313,628 household income needed $1.1M @ 3.5% for 30 years = $4,939 month or $59,268 year ➡️ $59,268 / 28%= $211,671 household income needed That a 50% increase to income needed without accounting for taxes and insurance costs, or for the run up in housing prices. Yikes. Need help making these types of decisions? Here to help.

Did you know? Things that have been passed by the administration that you may not know. Section 8 vouchers now can buy section 8 houses with no money down and offer up to 115% of list price. While continuing to get their voucher to pay for their mortgage. At fixed 4-5% 30 year rate. As info a veteran right now is at 6.5%. HCV Homeownership Program Program Overview EPC Program Overview The Housing Choice Voucher (HCV) homeownership program allows families that are assisted under the HCV program to use their voucher to buy a home and receive monthly assistance in meeting homeownership expenses. The program is limited to first-time homeowners who have received housing counseling and meet the minimum income requirements. All Public Housing Authorities that administer the HCV program have the option to establish an HCV homeownership program in their community.