A Message From Susan Chen

Hello Everyone,
It is my pleasure to inform you of the transformation that S.A.C. Interiors is undertaking. As a sign of the times we have expanded our business and now we offer truly one stop shopping. S.A.C. Interiors started out as a Full Service Design Company that Specialize in Home Staging. To learn more about everything we do feel free to visit us at http://www.sacinteriors.com/

We Branched out and now we have a Full Service Real Estate Company S.A.C. Properties. Please visit us at http://www.s-a-c-properties.com/.

We are also please to inform you about our Residential and Commercial Construction Company. Our Construction company for the time being will be under the umbrella of S.A.C. Interiors.

As always we look forward to serving all your Interior Design, Real Estate and Construction needs. If you have any questions or need some Do It Your Self advice feel free to contact us.
Have a wonderful Day!

Best Regards,

Su

Looking To Buy Or Sell?

Information Needed For Pre-Approval

Grab your yellow pad! I'm going to give you the run down of things that will be needed for a pre- approval. So make sure you bring these things when your meeting with your loan officer.

• Copy of driver license & social security card for all borrowers

• Most recent ONE full month's pay stubs

• Most recent TWO years W-2's

• Most recent TWO month's bank statements (all pages)

• Residence (and landlord) addresses- past 2 years

• Addresses & loan information on real estate owned

• Name, addresses, account numbers, balances & monthly payments on all open loans or credit cards

• 401k/ retirement statement (all pages0 (if you wish to include as an asset)

• Name & phone number of your homeowner's insurance agent

• Check for credit report & appraisal

• VA loan: VA certificate of eligibility or DD214

• If applicable, any divorce decrees and discharge of bankruptcy papers

• If self- employed, see your loan officer for requirements
  

Loan Pre- Approval

Once upon a time, buyers found their dream home and then went in search of a mortgage. The market is more competitive today. Buyers who arrange their financing first have a distinct advantage.

The pre-approval process will benefit you in the following ways:

• You will know in advance what your payments will be.

• You will have an estimate of your closing cost.

• You will not waste your precious time considering homes you cannot afford.

• You can select the best loan package without being under pressure.

• Sellers will find your offer to purchase more favorable if they know in advance of your ability to secure financing.

• You will have peace of mind.

THE BUYING PROCESS- STEP BY STEP

• Consultation to analyze needs

• Establish a working relationship with a Real Estate Agent/ Broker

• Get Pre-Approved by lender - Or decide to pay cash

• View new/resale homes with your dedicated agent

• Select a home

• Present an offer

• Acceptance of offer/ contract

• Inspections

• Update Mortgage application- Appraisal

• Underwriting- Conditions

• Loan Approval

• Title Company

• Assemble documents

• Closing & walk through

• Transfer utilities

• Moving Day

http://
New York City Classifieds

First - Time Home Buyers

5 Common First-Time Home Buyer Mistakes


1. They don't ask enough questions of their lender and end up missing out on the best deal.

2. They don't act quickly enough to make a decision andsomeone else buys thehouse.

3. They don't find the right agent who'swilling to help them through the home buying process.

4. They don't do enough to make their offer look appealing to a seller.

5. They don't think about resale before they buy. The average first- time buyer only stay in a home for four years.

FHA Loans:

Are you in the market for a new home? This maybe the time to purchase that home. A new Federal Housing Administration program will let first- time home buyers use their $8,000 tax credit for down payments or closing cost.

Read more about it at:

http://www.businessweek.com/bwdaily/dnflash/content/jun2009/db2009063_664304.htm?campaign_id=rss_daily

What's Going On With Mortgage Rates?

After speaking with my mortgage guru Dale Biaggi of Land/Home Financial Services INC. http://www.lhfinancial.com/ can reach him at dale@landhomeca.com

May 27, was the worse day for mortgage rates in a very long time. Fannie Mae pricing increased six times in oneday alone. Fannie Mae 30 year fixed rate jumped from 4.75% to 5.50%. Right now rates are in the range of 5.250% to 5.75%.

Don't get scared it is still a great time to purchase a home. Here are a few reasons why!

* First time homebuyers tax creditof $8,000
* Lowering Housing Prices
* There is a larger numbers of FHA lenders
* There is a lots of REO and Short Sale properties
* Rates are still at low

Take advantage of low rates. As always if you need help with your new home purchase contact S.A.C. Properties at info@s-a-c-properties.com

Searching For Properties?

If your looking for properties check out this website. Here you will be able to search for properties in the New York, New Jersey area.....
http://www.searchingnyproperties.com

Have fun!

First Time Home Buyer Questions Answered!

Thinking of buying your first home? But you have so many unanswered questions? Can I really afford a home? How can I find out how much I can afford? How do I start? Here are a few answers to your questions read the article below and check back for more answers to you questions:

http://www.hud.gov/buying/comq.cfm

New Apprasial Ordering Process

Starting May 1, 2009, no one involved in the mortgage process is permitted to select their own appraiser and are not permitted to tell the appraiser what value we need..... No one is permitted to ask an appraiser what he "thinks" the value may be befoe we order an appraisal for refinance.

This is not so bad for new purchases, because we must provide a copy of the contract. But for refinances there is no contract. There is no way to check values before spending the money on the appraisal. Most seasoned mortgage professionals have sites they can go n to get around about idea of values, but again there is no way to get the tru value with out spending money...

The new guidelines applies to Fannie Mae and Freddie Mac loans. It does not apply to FHA and some bank loans.....

Need a seasoned mortgage professional contact:

Dale Biaggi
Sr. Mortgage Consultant
Land Home Financial Services
Office: 800-648-2901
Cell: 831-600-6895
Email: dale@landhomeca.com

Real Estate Tax Credit

Under a new FHA rule aproved lenders can allow first-time home buyers to use the 8,000 tax credit as a down payment. Otherwise, buyers wouldn't get the money until they receive their taw return.

The government wants to enable FHA consumers to access the homebuyer tax credit funds when they close on their home loans so that the cash can be used as a down payment.