Chad McShane 's Blog

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Mortgage and Lending - NFM Lending , Chad McShane, NMLS #342881 - NMLS 342881
RECENT BLOG POSTS
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.  For example, if you have not owned a home in th...
01/21/2010
Who is eligible to claim the $8,000 tax credit?First-time home buyers purchasing any kind of home-new or resale-are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. For the purposes of the tax credi...
01/21/2010
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Status of Tax Credit:  Getting Closer     While a final deal was not reached, there were encouraging signs that a deal is very likely.  It is more a question of "when" than "if".   The proposed deal (which is still subject to change) would extend the tax credit until April 30,2010 and also expand...
10/29/2009
At the peak of the real-estate bubble, mortgage professionals joked that you needed only to be able to fog a mirror to get a loan. These days, even borrowers with good incomes and good credit scores can get turned down.  Much of the change is driven by the higher standards of the companies that b...
10/29/2009
If you have been thinking about purchasing a home, you could not ask for better conditions.  With home prices declining across the nation, falling interest rates combined with an $8,000.00 tax credit I cannot think of a better time!  If you are thinking about buying or have questions about anythi...
09/01/2009
With interest rates as low as 4.25% on a thirty year fixed, it's officially time to refinance or purchase a home.  Fannie Mae refinancing volume jumps to $77 Billion in March.  This is the company's largest refinancing volume since 2003!  If you are thinking about buying or refinancing your home ...
04/03/2009
About the Section 203(k) Loan Program If you want to buy a home that needs repair or finance needed repairs to your current home, the Section 203(k) loan program by the U.S. Department of Housing and Urban Development (HUD) may be a good option for you. This program allows you to finance the purc...
06/24/2008
The Homebuying Market in MinneapolisDespite recent concerns in the housing market sound opportunites are still available for qualified homebuyers. With new FHA guidelines qualifications have never been easier!  Although there can be substantial variation even within neighborhoods, housing afforda...
04/23/2008
Why Homeownership is Still a Smart Long Term DecisionYou've heard news reports saying that the housing market is in turmoil, and that home prices are stalling, if not falling, in many areas.  And it's tougher to get home financing.  So does that mean the game is over---is it just too late to buiy...
04/23/2008
Over the past eleven years I have worked with a number of title companies.  I have had success with all of them and challenges with a few.  Over the past year I have noticed many title companies either downsizing or over promising and under delivering.  I guess it is just a sign of the times.  Fo...
04/21/2008
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