Tag: rector hayden mortgage

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Agent Highlights Events Holiday

Trunk-OR-Treat 2017

Seeing smiles on kiddos’ faces is one of the best rewards! We are so thankful to have hosted our first Trunk-Or-Treat! We had over 100 kids come out and play games and eat candy!

Thank you to our agents that participated this year.  We’d like to give a BIG shout out to those agents that assisted/sponsored the event this year! See our full gallery of photos down below, or visit us on Facebook!

John Sanders

John decorated his tree-trunk hunting blind to look like a Keebler Elf bakery, he baked cookies to pass out and everything!
859-983-2041 |  facebook  |  jls@rhr.com  |  www.jls.rhr.com  |  app.rhr.com/jls

Shari Frasure

Shari brought a true Kentucky look for her Truck Trunk, complete with hay bales, pumpkins, and plenty of candy!
859-229-5945  |  facebook  |  shari@rhr.com
http://realestatebyshari.net/  |  http://wildflowergroupofky.com

Cecil Combs

Welcome to the Pumpkin Patch, hosted by Cecil Combs! Plenty of candy and no tricks here!!
859-326-0756  |  facebook  |  ccombs@rhr.com  |  www.CecilCombs.rhr.com  |  app.rhr.com/CecilCombs

Robin Davis of The Davis Team

Who’s in the dog house? Why, it’s Robin Davis!  The Bark Team can sell your dog house, today! Needing an agent? Choose the pup with the best pedigree!!
859-489-8071  |  facebook  |  http://www.davisteam.rhr.com/  |  app.rhr.com/davisteam

Rector Hayden Mortgage, Aaron Mason & Amanda Neuhart

Under the sea where the fish are happy, you can reel in a lot of candy from these folks!
Aaron Mason: 859-685-2460  |  aaronmason@homeserviceslending.com
Amanda Neuhart: 859-685-2231  |  amandaneuhart@rector-haydenmortgage.com
www.RectorHaydenMortgage.com

Tom Thomas

He’s just clowning around, but his generous candy donations are no joke!
859-559-6335  |  facebook  |  tomthomas@rhr.com
www.TomThomas.rhr.com  |  app.rhr.com/TomThomas

Jordan Price

Jordan Price, bringing the spooky dry ice!!
(704) 975-9069  |  facebook  |  jordan@rhr.com  |  www.jordan.rhr.com  |  app.rhr.com/jordan

Laura Hayden

Lady Dracula isn’t scary – she’s got loads of candy!!
859-376-4811  |  laurah@rhr.com  |  www.LauraHayden.net  |  app.rhr.com/LauraHayden

Judy Strassburg

The Queen of Hearts Herself!
859-227-8771  |  facebook  |  www.JudyStrassburg.rhr.com  |  app.rhr.com/JudyStrassburg

Diana Lashley

Keeping the volunteers in line and the garage clean and safe!
859-312-6563  |  facebook  |  http://www.dianalashley.rhr.com/  |  app.rhr.com/dianalashley

And, The Rector Hayden Staff!!

Categories
Home Buying Tips Newsletter Featurettes

What Is Mortgage Insurance?

The last time you bought a car or an expensive piece of jewelry, you likely insured it. This is because with a large purchase came an inherent risk — and if your valuable property is stolen or damaged, you don’t want to be left empty-handed.  The same thing is true of lenders who approve your mortgage loan. Every day, mortgage lenders across the country approve tens of millions of dollars in home loans, and they need to be sure they are protecting that risk. That’s where mortgage insurance comes in.

 

Why is it needed, and how much will it be?

Lenders often require that borrowers pay mortgage insurance, which protects the lender if the homebuyer becomes unable to pay their monthly mortgage payment. Think back to your own car insurance policies for reference. In mortgage insurance, the borrower pays the insurance premiums, but the lender is the beneficiary. If a borrower defaults on their loan payments, the insurance company will have to pay the lender a pre-determined percentage on the potential loss.

There are two main types of mortgage insurance. The first is mortgage insurance purchased from the government, which backs Federal Housing Administration (FHA) loans. The second is private mortgage insurance, which is designated for conventional loans that are bought from Fannie Mae and Freddie Mac.

(Note: Loans backed by Veterans Affairs (VA loans) do not require any mortgage insurance, but the VA funding fee provides similar coverage against loss).

 

Mortgage insurance for FHA loans

FHA loans are often called “helper loans,” because the lending standards favor first-time buyers and other homebuyers who may not have a large down payment saved. In fact, FHA loans can be approved with as little as 3.5 percent down at closing.

FHA loans are backed by the government, which then requires that FHA borrowers purchase mortgage insurance. To protect their risk, FHA requires two things. First, borrowers must pay an upfront mortgage insurance premium (MIP) of 1.75% of the total of the loan. This “upfront” MIP can actually be added to the loan amount and financed. Second, FHA borrowers must also pay an annual MIP of .85% throughout the life of the loan.

 

Private mortgage insurance (PMI) for conventional loans

Conventional loans are not backed by the government, so private lenders may require borrowers to purchase private mortgage insurance if they put less than 20 percent down at closing.  Often, conventional buyers will be expected to pay private MIPs until their loan-to-value (LTV) ratio hits 80 percent or lower. The LTV ratio is the amount of money you borrowed divided by the value of the property you purchased. In general, a lower LTV ratio means less risk for the lender because the borrower is much less likely to default on their loan when they have built up sufficient equity to sell.

 

A mortgage loan officer can walk you through all the expenses you should expect at closing and beyond, so you can determine your true buying power as you enter the market. Click here to get started on the process of getting a home mortgage loan!

Categories
Home Buying Tips Newsletter Featurettes

How Your Credit Score Affects Your Mortgage

How Your Credit Score Affects Your Mortgage

Have you ever wondered how your credit score affects your mortgage?

When purchasing a home, it’s important to consider all the factors that comprise your mortgage payment. One factor within your control is your credit score – if you have a high credit score, you will likely be granted a lower interest rate on your mortgage. Here’s how to heighten or maintain your credit score as you are buying a home.

When getting a home loan, one factor within your control is your credit score.

First, it’s important to understand that your credit score represents your money habits, including your bill payment history, current debt, and your credit history. As payment history comprises 35 percent of your total credit score, it’s important to pay your bills on time and in full. The second highest factor is your total debt, so paying down your credit cards or other loans can positively impact your credit score.

What is a Credit Score?

A number that represents your money habits; including bill payment history, current debt, and other lines of credit.

In addition to the factors listed above, your credit score will decrease any time you open new lines of credit, so avoid opening new credit cards when you are searching for or buying a home. It is smart to avoid big purchases as you are home searching too, whether you are paying for them in full or purchasing them on credit.

Avoid opening new lines of credit when searching for/ buying a new home.

While you may have a house budget in your head based on the money you have saved for a down payment and your total income, it’s important to get a mortgage pre-approval from a lender before you begin your home search. A pre-approval is the estimated price of what you can afford, and it takes into account your credit score and other financial information. A mortgage pre-approval not only helps you limit your home search, it can also make your offer more appealing to sellers who want to speed up the closing process.

A mortgage pre-approval letter can make your offer more appealing to sellers.

Click here to get a free, no-obligation pre-approval from one of the top lenders in our area – Rector Hayden Mortgage!

One of the best benefits of working with a Rector Hayden REALTOR® is having access to our in-house Lending Company, Rector Hayden Mortgage!  Aaron Mason, our chief Mortgage Loan Officer, is on hand 5 days a week to answer any questions about the loan process.  Aaron assists our agents and their clients in finding competitive rates and unique loan options that are CUSTOM FIT for your situation.

Categories
Home Buying Tips Home Insights Home Owning Tips Newsletter Featurettes

Minimize Your Mortgage Expenses

Here’s how homebuyers and homeowners alike can take steps to help lower their mortgage costs!

When applying for a mortgage or a refinance, there’s often a fee charged up-front by the lender to begin the process.  Before applying for a loan, be sure to ask about the application fee that will be charged – and don’t hesitate to shop around to compare these fees (important: also ask if the lender will refund this fee if the loan is not approved).  TIP:  Rector Hayden Mortgage does NOT charge an application fee!

It is always a good idea to compare rates and fees from potential lenders when buying or refinancing. Lenders offer different fees and can also offer different rates, depending on a variety of factors. TIP:  Rector Hayden Mortgage offers rates and fees that are often the LOWEST to be found!

When buying or refinancing, your credit score and history will be important to lenders, so keeping track of your financial situation in the months leading up to applying for a loan or refinance is crucial.

Rector Hayden Realtors’ affiliated lender, Rector Hayden Mortgage, provides a vast menu of mortgage programs and products.  Get started today! Click here for more about Rector-Hayden Mortgage. One of the best benefits of working with a Rector Hayden REALTOR® is having access to our in-house Lending Company, Rector Hayden Mortgage!  Aaron Mason, our chief Mortgage Loan Officer, is on hand 5 days a week to answer any questions about the loan process.  Aaron assists our agents and their clients in finding competitive rates and unique loan options that are CUSTOM FIT for your situation.  info piece

Categories
Sales Meetings

May 2016 – Sales Meeting Recap

What a great day to be a Rector Hayden REALTOR!

 

This month’s meeting had a lot to offer!  From Rector Hayden Mortgage Tips, to upcomming listing networking, to the Halfhill Auction Group’s live demonstration, and a Best Practices session on handling Inspections correctly – we covered quite a bit!  Besides raising over $3k for the American Diabetes Association ( WOOHOO!  –  Read More Here… ) Rector Hayden agents discussed the best legal practices of helping buyers and sellers handle the inspection and negotiation process of a transaction.

In this whirlwind market, our agents are seeing more and more of their peers attempting to cut corners and not play by the rules.  However, Rector Hayden REALTORS stand strong with integrity and the knowledge to take care of our clients by-the-book.  This is proven in our discussion today where – as a team – Rector Hayden agents discussed the best ways to handle issues when it comes to inspections, return periods, addendums, and agents attempting verbal negotiations.  We’re honored to work with such dedicated and educated Realtors.

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Good News for Your Buyer Clients from Rector Hayden Mortgage!

Upcoming changes to be made for the Rural Housing Guarantee.
These changes take effect OCTOBER FIRST.

If you have any questions, do not hesitate to speak with Aaron Mason or Sarah Hogan at Rector Hayden Mortgage!!

Rural Housing Guarantee fee lowering from 2.75% to 1%.
Monthly fee changing from .5% down to .35%.

 

And also, DID YOU KNOW?

Rector Hayden Mortgage can qualify your client even if they haven’t been on their job for 2 months.  We can EVEN qualify them if they haven’t started their job!  This can be of tremendous help, especially for those moving into the area for work at one of the many major employers in the region!

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We’re Halfway Thanks to the Halfhills!

 

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Our goal as a team for the American Diabetes Association: Step Out to Stop Diabetes Fundraiser is about $7500 dollars (about 3% of the Lexington, KY goal).  And, thanks to the gracious donors, the initiative taken by our agent John Sanders, the awesome Halfhill Auction Team, and Rector Hayden Relocation Director – Whitney Baxter – WE MADE IT HALFWAY TO OUR GOAL!  We received $2400 in donations from our auction this morning.  The rest came in through cash donations and pledges.

 

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Best Practices: How to Handle Inspections

A new series that Rector Hayden is endeavoring to do is a discussion based class to brainstorm the best ways to handle different situations in transactions.  This month, agent Karen Burns led the discussion on Inspections.  It was a great opportunity to talk about issues agents face with timing, requirements, legal documents, and best practices to serve your clients.  As a team, agents discussed their own personal experiences and follies and together we learned from our mistakes and successes.  Integrity and Ethics are core values of being a part of the Rector Hayden team, and through our very successful meeting today we empowered our agents to continue to exemplify those values.

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Welcome New Members to the RHR Family!

Sharon Haden with Rector Hayden REALTORS

Sharon Haden

Lexington Office
Sherry Snyder with Rector Hayden REALTORS

Sherry Snyder

Lexington Office
Desaray Bowman with Rector Hayden REALTORS

Desaray Bowman

Agent Relations Specialist
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Another Year Here – Another Year Wiser!

 

Congratulations to the amazing agents celebrating their Rector Hayden anniversaries with us this month!  Thank you for your outstanding service to this company and your community.

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Categories
Uncategorized

Inspiration – Listing Presentation, E-Newsletters,

“5 Slides Your Listing Presentation Needs in the Digital Age”

From: 

Paperless Agent is a great source to follow, and routinely have webinars and ebooks available for agents at a minimal price.  Usually, the also send out weekly tips along with their event invites!  (Great Item of Value!)  This week, I received tips on 5 slides you need in a listing presentation (slides can be sheets of paper, or it can be in the e-presentation you give them on your ipad!).  They were sent to me in an exclusive e-mail and now I’ve shared them with you!

Click the little drop down arrow to read the 5 steps! → 

1. Pre-MLS Marketing Plan: Show your potential client that you’re ready to roll right then and there with marketing strategies for the home prior to it even going on the MLS.  Do you network with other area agents?  Share your upcoming listings (while still adhering to EHO and NAR guidelines, of course).

2. Marketing Campaign:  Showcase how you will get your seller’s home in front of buyers.  Sellers expect you to market to popular channels so make sure address how you will market online!  Facebook Marketing, Kentucky.com, ListHub, RectorHayden Mobile App, and more!

3.  Staging + Photography:  A picture is worth 1,000 words!  Show examples to your clients of the homes you’ve previously sold and the professional photos!  If you use a professional photographer, have a mini portfolio of their work to share with your client.  Or, do some side by side comparisons of “The Other Agent’s” photos versus yours!  Remember to put your seller in the buyer’s shoes and remind them that almost all buyers start looking online so photos are important!  Staging and de-cluttering is also important.  Offer them the free Rector Hayden Staging Guide in paper format or online!

4.  Pricing & Preparation:  Emphasize the importance of the right price and the dangers of pricing a home outside of market expectations.  Beautifully prepared homes priced aggressively will generate lots of interest, get multiple offers, and make everyone happy in the end.

5.  Why Work with Me:  Compare your stats or Rector Hayden’s stats with the competition and market average.  Show that Rector Hayden has been serving over a third of all transactions in the Central Kentucky area or that our Days on Market is lower than the market average for homes!  Show what’s in it for the seller to work with you.

 

 

 

“How to Deliver E-mail Worth Reading”

From: reb_spot

The Real Estate Book is a unique source of great information for real estate agents all over the world.  It allows you to network and discuss with other agents, and learn all sorts of new tips and ideas for you, your clients, and their homes!  This article discusses 6 Tips on effective e-mail / e-newsletter writing.  We can all benefit from a writing refresher every now and again.  Take a few minutes to read through what REB says!

Read More → Read the Full Post at The Real Estate Book

 

 

“What is a 203K Mortgage?”

From BHHS Kansas City Realty’s Blog

[ Excerpt Taken from www.bhhskcrealty.wordpress.com – BHHS Kansas City Realty is a part of Rector Hayden’s National Network through Berkshire Hathaway and HomeServices of America ]

Consumers often find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, “distressed” speaks more to the condition of the home than their recent financial histories. They may have been empty for extended periods and subject to vandalism and theft.

If you are considering a home in need of renovation, you should consider a 203k mortgage. It would allow you to finance both the acquisition and rehabilitation with a single loan. There are two types of 203k loans: Read More  →  

203k Streamline: This is the most popular. The maximum allowable in repairs is $35,000 and does not allow any structural repairs to be done to the home (unless they’re a result of an unforeseen circumstance).

Full 203k: Allows for structural repairs and can exceed the $35,000 in home repairs. Both types allow up to $1,500 in swimming pool repairs.

Some important 203k facts:

  • •  Since it is based on the home’s potential value after repairs (not its existing value), you can be approved for a higher loan amount.
  • •  They carry long-term-fixed rates.
  • •  They’re insured as soon as they fund.
  • •  They include escrow accounts for the scheduled repairs.
  • •  Loan amounts are capped according to local FHA limits.
  • •  Only owner-occupied properties of one to four units qualify.
  • •  The home must be at least one year old.
Questions about Mortgages?  Contact Rector Hayden Mortgage Expert:
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Aaron Mason

Mortgage Loan Officer
phone: 859-685-2460
aaronamason@homeserviceslending.com
https://rectorhaydenmortgage.com/

 

Have a great week!
June Laves, Creative Visual Designer
Rector Hayden REALTORS