While homeowners typically equate the FHA loan program with low-down payment mortgages, FHA refinances are also available. In addition to easy-to-source rate-and-term and streamline refinances that replace an existing FHA mortgage with a better one, the FHA even offers cash-out refinance loans. A cash-out FHA loan refinance allows the borrower to take out up to 85 percent of the value of his property. In today's market, the ability to pull out 85 percent of a home's equity is attractive, but not as generous as a 96.5 percent FHA purchase mortgage. Nevertheless, while the borrower doesn't get the high leverage of a regular FHA mortgage, he still gets many of its other benefits. FHA Refinance Requirements: FHA cash-out refinances don't impose limitations on how borrowers use the cash they... 03/12/2014

Sales of existing homes fell by 5.10 percent in January according to the National Association of REALTORS. Pre-owned home sales slowed to a seasonally-adjusted annual rate of 4.62 million homes against an expected reading of 4.65 million and December's reading of 4.87 million existing homes sold. Rising home prices are reducing the number of affordable homes and a shrinking inventory of available homes were said to be underlying causes to January's slump in existing home sales. Severe winter weather also contributed to lower sales. January's reading was the lowest for existing home sales since July of 2012. The national inventory of available pre-owned homes was 1.90 million, which represents a 4.90 month supply at the current sales pace. Real estate pros look for a 6 to 6.50 month supp... 03/12/2014

Home equity is the difference between what your home can sell for and what you owe on it. Generally, the longer you own your home, the more equity you build. This is money you can use before you sell your home through a home equity loan. Just keep in mind that a home equity loan is secured with your home. If you can't make the payments, you can lose your home. Use Your Home Equity In Smart Ways: Remodel Your Home - If you've wanted to add on a family room or modernize your kitchen, consider using your home's equity to fund the project. Home improvements usually increase your home's marketability and value. Make Needed Major Repairs - Your home's equity can be a funding source for major repairs like plumbing problems and re-roofs. Once again, this is an improvement for your home that wil... 02/24/2014

Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA's standards. FHA won't insure loans on just any property. While their standards aren't as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing. Location And Lot: To qualify for FHA financing, the property has to be located on a road or easement that lets the owner freely enter and exit. The access also has to be paved with a surface that will work all year a long dirt driveway that washes out in spring won't qualify. The FHA also wants the lot to be safe and free of pollution, radiation and other hazards. For that matter, it also needs to provide adequate drainage to keep water away from the house. Property Ex... 02/24/2014

When you are purchasing a home, your broker may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals. So the question many buyers have is what exactly is a mortgage pre-approval? In a nutshell, it's when the lender provides you (the buyer) with a letter stating that your mortgage will be granted up to a specific dollar amount. What Do I Need For Pre-Approval? In order to obtain a pre-approval for your home purchase, you will have to provide your lender all of the same information you would need to show for qualifying for a mortgage. This means providing tax returns, bank statements and other documents that prove your ... 02/24/2014

In your imagination it seems like a great idea – you purchase an older run-down property and you have the chance to fix it up and turn it into the home of your dreams. To Renovate, Or Not To Renovate: However, the renovation project that is simply a quick montage in your imagination will actually take several months or years and thousands of dollars in real life. The concept of renovating a "fixer-upper" property is exciting, but the reality is a lot of work and investment. How can you make sure that you are making the right choice for you? One of the main advantages of buying a fixer-upper property is that you will usually be able to get the property for a much cheaper price. But is it worth it for the amount of time and money you will need to invest in the property? Here Are Some Ques... 02/19/2014

Often-times, when you are searching for a new home, it may seem obtaining a pre-approval for your mortgage loan is a waste of time and energy. However, there are some significant benefits to a pre-approval which should not be overlooked. In many cases, buyers can use a pre-approval for leverage when negotiating with sellers and may wind up buying a home for far less than what the listed price is. Knowing Your Limitations: One significant benefit of a mortgage pre-approval is knowing exactly how much money you will be able to borrow. This means you will be looking at homes you know you can afford. Whether you are working on your own or you've sought the assistance of a real estate broker, there will be no question in your mind how much money you can spend. Approaching A Seller: When some... 02/19/2014

Like credit cards or car loans, some mortgages allow borrowers to have co-signers on the loan with them, enhancing their loan application. However, a co-signer on a mortgage loan doesn't have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. What Is A Mortgage Co-Signer? A mortgage co-signer is a person that isn't an owner-occupant of the house. However, the co-signer is on the hook for the loan. Typically, a co-signer is a family member or close friend that wants to help the primary borrower qualify for a mortgage. To that end, he signs the loan documents along with the primary borrower, taking full responsibility for them.  When a co-signer applies for a mortgage, the lender considers the co-signer's income and savings along with... 02/12/2014

Before applying for a mortgage, borrowers need to build a plan for how they are going to manage their credit both going into the mortgage process and as they navigate through it. Lenders like to know that borrowers have a strong likelihood of repaying the loans they take out and, as such, look carefully at an applicant's credit. Here are three must-dos that can help an applicant turn into a home owner. Pre-Checking Credit Reports: Before even starting the home loan application process, borrowers are well served to check their own credit reports and see what appears. If everything is correct, their credit score can help them understand what type of loans are open to them and what they might cost. When errors come up, pre-checking gives the applicant time to have the errors corrected befo... 02/12/2014

If the temperature in your home is too hot at night, then you can't sleep. If it's too cold during the day, then you have to wear excessive layers. Everyone has his or her own idea of the ideal temperature, but to keep it on that perfect number can get expensive. So, below we've outlined five ways you can take care of your heating and cooling system and help it run more efficiently. 1. Set It And Forget It: To maximize the effectiveness of your heating and cooling systems, you need to program your thermostat and refrain from changing it. Adjusting the thermostat makes your system work harder. The best way to avoid tempting temperature changes is to choose a thermostat that fits your schedule, such as one with 7-day, 5-1-1, 5-2 or 1-week programming options. 2. Clean The Air Ducts: Even ... 02/10/2014

Generally when you are purchasing a home, you are buying below the appraised value and you are making a down payment. The good news is this means you have "instant equity" in your home. For some homeowners, this means may be considering taking cash-out from your home equity in order to pay off credit card bills, purchase a car or pay for college for one of your children. However, it is important understand, this may not be as simple as it sounds. Cash Out Refinance, Equity Loan Or Second Mortgage: There are three basic ways to access the equity in your home which are common these include: Cash Out Refinance - you refinance your current mortgage and you request cash-out for the equity. For example, if your home is worth $200,000 and you have a current mortgage of $100,000 you may be able... 02/06/2014

So you find yourself with a little bit of extra money – perhaps due to a raise, an inheritance or an unexpected windfall? Should you put all of your money toward paying down the mortgage on your home? Or would you be better off placing your extra cash into a savings account? Deciding whether to pay down your mortgage or add to your savings is a complex choice and it depends on a number of factors in your personal financial situation. Here are some of the things that you will need to consider when making the decision: How Much Are Your Savings Earning? Take a look at the savings accounts where you are keeping your money and assess the interest that your savings are earning. Is your money earning more in savings than you would save by paying down your mortgage earlier? Does Your Mortgage ... 02/05/2014

KW ranks and the #2 company worldwide in training for their agents and employees and ranks #1 as the highest rated real estate franchise.  Another reason buyers and sellers chose Keller Williams.  On top of that, the Helmers Grou ranked in the Top 5% of agents in sales for December. The Helmers Group is out working year round to care for our clients needs.  Contact us if you're ready to make a move! 02/04/2014

According to a statement provided by the Federal Open Market Committee of the Federal Reserve, the committee has approved another reduction of the Fed's monthly asset purchases. The adjustment will be made in February and cuts monthly purchases of mortgage backed securities from $35 billion to $30 billion and monthly purchases of Treasury securities from $40 billion to $35 billion. FOMC began reducing its asset purchase under its quantitative easing program in January, when the monthly purchases of mortgage-backed securities and Treasury securities was reduced from $85 billion per month to $75 billion. Citing its goals of maximum employment and price stability, the FOMC said that it has seen consistent improvement in the economy and specifically mentioned a lower, but still elevated une... 02/04/2014

Everyone wants their pipes to last as long as possible, but there are a couple of simple problems that might be sucking the life out of your plumbing. Long-term stress is the enemy when it comes to your water system. The three most common enemies are high water pressure, mineral-laden hard water, and grease. Avoid these three mistakes, and your water system will last years longer. Take The Pressure Off Your Pipes: You might enjoy high water pressure when you're taking a shower, but your pipes aren't enjoying it at all. Over time, this high pressure stresses your plumbing system and can lead to leaks. Is your high-pressure shower worth an expensive plumbing leak? To test your water pressure, you'll have to hire a professional. Proper pressure should be somewhere between forty and eighty ... 01/31/2014

While still appreciating, home price appreciation in Maple Grove have been more stable than in many other surrounding cities.  It's possible this can be attributed to higher competition levels due to the number of transactions occurring and due to a higher price point.  Average sale price and activity levels are impressive considering season temperatures this winter. Search Maple Grove Properties for Sale Foreclosures for Sale in Maple Grove| New Listings for Sale in Maple Grove Short Sales for Sale in Maple Grove| Town Homes for Sale in Maple Grove   Get Your Home Values in Maple Grove 01/30/2014

According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed. The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively. Highlights Include: Dallas, Texas posted its highest rate of annual growth since 2000. Chicago's average home price rose by 11.00 percent, its highest annual gain since December 1988. The 10 and 20-City Indices posted their best November home prices since 2005. Top year-over-year gains in home prices included Las Vegas, Nevada at 27.30 percent, San Francisco, California at 23.20 percent, Los Angeles, California at 21.60 percent and San Diego, California at 18.70 pe... 01/30/2014

As a society, it seems like we've gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value.  An Appraiser Can Estimate A Home's Monetary Value, But To Gain A True Concept Of Your Home's Worth, You Must Also Take Into Consideration: Pride Of Ownership. You don't buy a pair of Prada shoes because you're going to be able to resell them and make a profit. You buy them because they make you look good and feel good. Security And Stability.  Your home provides a roof over your head that's in your control. You can decorate it how you want. You don't have to worry about a landlord selling the property or asking you to move out. In the "olden days" (or should I say "golden days"), we called our homes our castles because, a... 01/30/2014

The NAR provided great year-end news as existing home sales in December pushed 2013 sales of existing homes to a 7 year high. December's reading of 4.86 sales of pre-owned homes came in at 4.87 million on a seasonally adjusted annual basis. Although projections had been for 4.89 million sales, the December reading topped November's revised sales of 4.82 million pre-owned homes. December's reading showed the first gain in existing home sales in three months. NAR reported that existing home sales for 2013 reached 5.09 million, which represented a 9.10 percent increase over 2012. More Good News: Median Price Of Existing Homes Rises: NAR reported that the national median price for pre-owned homes increased to $198,000, a year-over-year increase of 9.90 percent. The average price of an exist... 01/28/2014

The kitchen is one of the most important rooms of your home. It is where you prepare all of your meals and it is often a hub of family activity. When you host a party, the action often ends up in the kitchen. Where drinks and snacks are enjoyed into the early hours of the morning. It's crucial that your kitchen functions well because you will use it every day, but you also want to make it beautiful and stylish. Renovating and decorating your kitchen can also be one of the best ways to increase the resale value of your home. If you are planning on a kitchen makeover: Here Are Some Do's And Don'ts To Keep In Mind: Don't forget to consider the proportions of everyone who will use the kitchen. Don't choose kitchen stools that are too high for your kids to sit on, or cabinets that your wife ... 01/28/2014