HUGE news NEVADA! The Nevada Housing Division launched a new grant program this week. You might qualify for a FREE cash down payment equal up to 4% a portion of your loan amount. 

On September 22, 2014, the Nevada Housing Division launched a new grant program for homebuyers, known as Home is Possible. For qualified homeowners in Clark and Washoe counties, Home is Possible provides a grant of up to 4 percent of the loan amount to be applied toward the cost of down payments and/or closings. The grants are available immediately for homebuyers that are financing a permanent residence with a government insured FHA, USDA (Rural) or VA mortgage. In November, the program will become available to borrowers who are seeking conventional financing. In order to qualify for Home is Possible, the future homeowner must meet  a few requirements: 1) They must have a minimum credit score of 640 for government insured loans, 660 for manufactured homes and 680 for conventional loans. 2) The home must be purchased as the primary residence, the purchase price must be under $400,000, and 3) the qualifying income on the mortgage application must be less than $95,000 annually. The buyer must also enroll in an approved homebuyer education course. 

Many Las Vegas residents may be eligible to take advantage of this new extended offer by the Nevada Housing Division along with other down payment assistance programs available.  We will help qualified buyers receive a free cash down payment grant equal to 4% of the loan amount.  For more information about this exciting opportunity and Down Payment Assistance, contact Aundrea and The Beach-Greco Team by calling 702-326-7866 emailing us info@aundreabeach.com or visiting www.iLendLasVegas.com

Markets in a Minute For the Week Ending September 12, 2014

Please enjoy this quick update on what’s happening this week in the housing and financial markets.

	The Labor Department's monthly job openings report showed little change in July. Fed policy is likely to remain on its current course in response.

	Consumers charged more to credit cards and financed more autos in July. Generally, increased borrowing shows confidence in the economy.

	At the same time, U.S. households have stashed $2.15 trillion in savings, about 50% more than five years ago.

Our clients have been getting great rates and service from Jason and Farmers. I bet they can Save you Money on a new policy or your current policy!
One of our partners is Farmers Insurance - Agent Jason Prindl - cell 702-612-2681 or office 702-363-6900 - jason.jhaas@farmersagency.com

Jason joined the Joseph Haas Farmers Insurance Agency in 2007 and handles Auto, Home and Commercial products. Jason, who is originally from Wisconsin, has two children, Henry (9) and Ellie (6). Due to his Mid-West upbringing, Jason is never too busy to do a house appointment or meeting after hours as customer service rates high on his list!

	Cash sales as a percentage of home purchases continue to fall. The rate is at the September 2008 level and likely is a result of the dwindling REO supply.

	A typical seasonal slowdown is showing in the Fannie Mae household survey and mortgage application index. Yet rates remain very low, and affordability still reigns.

	Almost half of millennials say they expect to buy a home in the near future. 97% of teens expect to become homeowners one day.

A businessman on his deathbed called his friend and said, "Bill, I want you to promise me that when I die you will have my remains cremated."

"And what," his friend asked, "do you want me to do with your ashes?"

The businessman said, "Just put them in an envelope and mail them to the Internal Revenue Service. Write on the envelope, 'Now, you have everything.'"

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

    

HUD's new HAWK program

HUD is rolling out a new program:  Homeowners Armed With Knowledge (HAWK) that provides FHA insurance pricing incentives to first-time homebuyers which is defined as anyone that has not owned a home in the last 3 years.  Six hours of pre-contract counselling is required with one hour pre-closing and one hour post-closing.

You can see Frank and Brian's video about this program by clicking here.

Official FHA site with details.