Understanding how much you can afford is one of the most important rules of home buying. Depending on your individual situation, your budget can affect everything from the neighborhoods where you look, to the size of the house, and even what type of financing you choose. Bear in mind, however, that lenders will look at more than just your income to determine the size of the loan. Likewise, you may find that there are some creative financing options that can help boost your purchasing power. Loan prequalification vs. preapprovalOne of the best ways to determine your budget is to have your real estate agent or lender prequalify you for a loan. Prequalification is different from preapproval, because it is only an estimate of what you'll be able to afford. On the other hand, preapproval is ... 11/28/2008

MOST BUYERS CAN STILL QUALIFY FOR A MORTGAGE LOAN WITH 580 CREDIT SCORE! Credit applicants with lower scores generally must have more bank reserves and lenders still look at debt ratios -- the percentage of income a person spends on debt each month. FHA lending guidelines allow for some buyers with 580 credit scores to purchase homes for as little as *3 percent down and are still allowed to use down payment assistance programs, gifts and secured loans.      * 3.5% required down payment goes into effect Januaray 1 2009, keep in mind the assistance can still be used so little money out of pocket for the buyer is still avaliable. By combining a Federal Housing Authority first mortgage with a Mississippi Housing Finance Authority second mortgage( MHC), banks can finance purchases up to $250... 10/15/2008

09/09/2008

In an ever changing market the consumer is going to be subjected to marketing efforts by mortgage companies to offset the decline of refinance business along with the current crash of non conforming lenders. Recently a number of NO CLOSING COST ads are hitting the television and print news. The Consumer should be aware that although they will not be paying the closing cost, someone (the lender) will. In order for the lender to absorb the cost of an appraisal, title insurance, their fees, etc. they will increase your interest rate to offset those costs. Although this is not a bad program, the consumer should be aware that the lender paid closing cost are an option on any program, should you wish to take the higher rate. If you simply wish to look at a quick calculation, take the cost of ... 09/09/2008

Growing-up I loved living in Biloxi, Harrison County, Mississippi.  Now managing properties all over the country I still have many of my properties here because of the beauty that remains in this area. Mississippi is a state of  wide range of living environments.  The market has seemed to slow a bit for me in the past few years, but I'm hoping to bring more people back and open up more establishments. 07/01/2008

GO Zone Gateway is dedicated to the Real Estate Investor. It is our mission to stay on the cutting edge of all GO Zone news, laws and projects being offered. We have built and closed on every type of construction out there including stick, steel frame, modular and concrete. We have partnered with a solid concrete developer who understands the importance of quality investment homes at a great price point that enables cash flow. The developer has built over 300 homes in the last 2 years alone, which allows them to know their costs down to the last load of dirt. The price point is $20,000 better than the nearest competition, which give us a large spread of equity to work with, and allows us to keep your out of pocket cost minimal. Most of our concrete products can be 100% financed and you... 05/24/2008

Growing-up I loved living in Biloxi, Harrison County, Mississippi.  Now managing properties all over the country I still have many of my properties here because of the beauty that remains in this area. Mississippi is a state of  wide range of living environments.  The market has seemed to slow a bit for me in the past few years, but I'm hoping to bring more people back and open up more establishments. 05/20/2008

Great news for the Mississippi Gulf Coast Recovery!  Maximum FHA Loan limits increased as of 3/6/08 from $201,050 to $271,050!  With the increase of down payment requirement on Conventional Loans due to declining market messages from Fannie & Freddie, plus the reactions from PMI companies resulting in higher minimum credit scores  --- this increase from the FHA is a HUGE Blessing.  What this means for buyers who may not fully understand what I just wrote is that you can get a home loan with a minimal 3% down payment and 580 credit score up to $271,050 as long as you can meet the other FHA guidelines.  This will save homebuyers thousands of dollars and offer them lower interest rates and lower monthly mortgage insurance premiums.If you are a homebuyer in MS, AL or LA, please feel free to... 03/09/2008

If you or someone you know is thinking about selling, I really believe I can help you.  If I didn't think that I could help you, than I wouldn't ask you to hire me!  If you are thinking about selling and are hesitant to pick up the phone and give me a call, it's usually because of price.  You might feel that I charge too much or you may feel that you will not get enough money in your pocket to make your move more comfortable.What if I told you that you would probably lose a sale or maybe lose thousands of dollars, would you hire me then?  I am certain that you are probably advertisng your home in the paper, passing out flyers at work, and maybe even posting some ads on the internet.  By sellling on your own, you might eventually succeed.  But it may take forever...  Suppose I said that ... 02/01/2008

Looking over all the media this week in magazines, newspapers and TV, there is one resounding message that's clear................Mississippi Gulf Coast is on its way back.  Sure it's going to take some time, but baby let me tell you, Biloxi is on the fast track to appreciate in value.  Why?  Because there is a certain set of market indicators that are working together to cause the market to grow.  Hurricane Katrina leveled the waterfront community creating opportunities for development, one of the market indicators.  The casino market is another, with over 20 casinos slated to be built (12 existing now), Billions of dollars and big brand name companies are moving in for a market share of this valuable emerging market.Another strong indicator came in the form of a gift from IRS;Tax ince... 08/27/2007

Does that sound right?  Surely its not a mecca yet, nor should it be, we cannot compare with Vegas no matter what happens there.  We don't want to be Vegas, we want to have our own idenity and charactor.  Each one of our coastal towns have a flavor all its own.  From Bay St. Louis to Pascagoula, y'all will find pure southern hospitality.  Of course Biloxi and the coast is racing towards a Tier One Resort Designation Resort, with all the new businesses, jobs, affordable housing, celebrity restaurants, designer golf courses and the fishing.......Yes, life is good 2 years after Katrina,  more and more tourists are returning finding entertainment by way of concerts, waterparks, beaches, SKA tournaments.  At this point however, staying in a casino might not be everyone's cup of tea.  Condomi... 08/21/2007

So you may have investors coming to you asking you where can I put my money today, stocks? bonds? Real Estate?  Resort properties?  Pre-construction? Ok let me start with the last three..........Real Estate today is slow, we all have seen the headlines, read the blurbs, forecasting gloom and doom, where can a real estate professional make a decent pay today with all the bad news about the housing market, I have a suggestion:  Pre-construction resort properties in a growing market (yes there are some).  Statistics prove that over 50% of the population will move to the southern United States by the year 2020.  Ok, we all know about us babyboomers too, lots of flex cash, kids are in college or perhaps living on their own.  Babyboomers are looking for their retirement homes, 2nd homes or ta... 08/06/2007

Goal: To Preview at least 15 properties a week in Harrison County. Note: Photos are not included because it is not my listing. I can and will supply photos upon request of interested parties.I have previously viewed a 5 Bed, 2 and 1/2 bath property on Hiller St in Biloxi. This property has lingered in the back of my mind for about 3 months now. I am not the listing agent, but I find myself going back to it, trying to understand the property, the value, the issues.From the street, you can't tell that it is 2906 sq ft, or that the lot is 197 feet deep. The lot is 82 front and 70 back. The driveway is slim, it would be difficult to get a large truck or suv through the gate and into the garage.Property Address: 349 HILLER DR The age of the property is not given in the MLS. I could verify th... 07/09/2007

I have toured the Sea Breeze Condominiums Resort previously and was delighted with the experience in its entirely. I was not the only one delighted, either. I had opportunity to chat with a guest who was checking out. He and his family were thrilled with their Sea Breeze experience. When you are investing in a Resort Condominium, there are concerns beyond the unit itself. Management and employee attitudes from the ground up are an important factor in your success as a vacation condo owner. As with my first visit I found the front desk staff, housekeepers, and the General Manager, Allen Headley, to be friendly and accomodating. The grounds and common areas are faultlessly cared for.  Sea Breeze Condminiums Resort, located ON the Sandy Beach, Biloxi, Mississippi and managed by Sterling Re... 06/27/2007