Lewis Smalligan's (loanswithlew) Blog

I find it quite interesting how some of these banks that own foreclosed homes are making the new potential home buyer get approved through their bank in a proprietor way in order to make any offer or for the buyer to receive any type of concession. Why does the homebuyer have to be forced to use ...

USDA Rural Development loans are still a great option for home buyers. In particular Rural Areas you can finance 100% of the purchase price and avoid monthly M.I.  To see if a property qualifies, use this link, http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do This program will al...

FHA IS THE WAY. There are many who do not know the benefits of FHA. Here is a quick recap: 1. As little as 3% of purchase price is required into the loan. ($100,000 mortgage, will require the borrower to have 3% down) If negotiated right with seller, this can be the most the potential home buyer ...

It is amazing to me how many people today, think that it is impossible to get a mortgage without 20% down. I will talk to seasoned Realtors who believe that their borrowers need 20% in order to get a home. NOT TRUE. FHA allows the borrower to buy a home with only 3% down. If need be, the 3% can b...

My home town Grand Rapids, MI recently built a brand new art museum.  I visited this beautiful museum over the weekend and was amazed at the building design.   The inside was large, roomy, and very contemporary with a touch of excellence. The art exhibits on display were excellent.  I was most am...

Lending has become an interesting field lately.  There are so many properties for sale at such discount prices that many private investors are there to help out.  For many the idea of getting a loan 2 years ago for an investment property or a flip was easy, now a different story.  Still attainabl...

Now that we wind down 2007 and spend time with our family, it is important to keep 2008 in our thoughts.  It will take a lot of work from all areas in real estate to make it a great year.  But we are the front line. No matter what the media says, we are the ones that have the direct line of commu...

In these times of constant media domination.  It seems like anyone outside of the real estate world thinks it has come to a screaching halt.  Now I know it is not real busy out there, but there are buyers and there are some great deals.  We all need to help, help educate those that only get there...

This has been a popular question these days.  It is definitely harder these days to obtain a mortgage, but it is still happening and it can be done.  We really need to look at the job situation, has the renter been working and can show a solid work history or post high school education.  From the...

When looking to get a loan for a new purchase or a refinance.  Don't just shop rates or closing costs.  Work with someone that will explain everything that goes into the loan and how we get paid.  Don't be fooled by excessive costs, just because you think its normal.  I take the time to go over t...