4 Bedroom Home for Sale in Newtown Square, PA

Charming Bungalow for Sale in Eastport near Horn Point - Annapolis MD

Charming Bungalow for Sale in Eastport near Horn Point - Annapolis MD

Real Estate SEO isn’t magic, but thankfully it’s not rocket science either, its a simple business plan with a simple purpose.

My 28 Year & Counting Family Tradition - Salmon Fishing

The year was 1983 & I was 8 years old.  My father decided he was taking me to Pulaski, NY to go Salmon Fishing.  Twenty eight years later, we haven’t missed a year.  If you’re looking for a manly man’s fishing trip that’s not too far off, this is a great place to start. 

WARNING:

1.  These fish are strong! I DO NOT recommend this for a beginner’s trip.
2.  River currents can be strong, the water deep & rocks slippery.  Don’t be a “bruto” – Spanish word for a moron who doesn’t use common sense.
3.  Plan your trip in advance.  Salmon season is short (mid/late September through October) & it can be challenging to find lodging.
4.  Purchase your gear in advance.  Equipment can be is expensive once you’re there.  See the bottom of the page for links to stores (Click here to see what I use).
5.  See #2 again & take me seriously.  For all you “brutos” out there, you’ve been warned & you will get hurt if you’re careless.

Now for the fun…….

We left King of Prussia at 4 AM (they had to convince me) & 2 pit stops later we’re eating breakfast at Mapleview Family Restaurant in Parish, NY.  It’s a long trip so it’s good to know a few good restaurants along the way. If you’re hungry try the “Big Rig” or “Breakfast Blizzard”.  (Click here for direction to all stops).  Don’t forget to enjoy the foliage on the way up!

With renewed energy we went to see where it all begins at the Salmon River Fish Hatchery.   It’s educational & suited for all ages.  So don’t be a heathen, take a minute & learn something.  Your wife will be proud.  Best of all, you’ll see a ton of king salmon (Chinook) & silver salmon (Coho).  After seeing all those fish, we were fired up & ready to go!

A few miles off we started fishing at the Orwell Brook.  The Orwell is a small stream with deep pools & little to no crowds.  Now keep in mind much of the surrounding land is private & you may need to pay to cross their land.  Once there, we found the salmon!  I decided I was going to play cameraman & angler at the same time.  Sorry for the bumpy video but it gives you a good idea of how these fish fight.

After catching our limit (3 per day), we loaded up our fish & made a quick stop at Fat Nancy’s Tackle & Fly Shop (side note, dragging 60 to 70 lbs worth of fish for ½ to 1 mile uphill is NOT easy. Bring your inhaler cupcake). If you forget anything these guys have it all, but expect to pay a premium.  Here you can find a guide, lodging, equipment, etc.  In case you’re wondering, Fat Nancy is a fish not an obese older woman who owns a tackle shop.  Sorry to disappoint you.

By 5 pm we’re beat so we head off to check into our cabin at Catfish Creek Campground.  If you get a cabin, it’s great.  The trailers, not so much BUT, they are cheaper.  I prefer to spend a few bucks more for the cabin.  We chose CCC because it’s close to a number of fishing holes, the owners are friendly & the salmon/steelhead fishing is outside your doorstep. 

The next few days we drove between fishing holes, caught a ton of fish, shared fish stories & created memories that will last a lifetime.  Salmon fishing is the guy’s guy ultimate bonding trip.  I have to say thanks to my dad for making the decision 28 years ago to take me fishing.

One thing is for sure, if you go, you won’t regret it.  Take your kid too.  He’ll love you for it. I know I did.  Feel free to shoot me an email for additional tips on where to go & what to do while you’re there.

What I use: Links for equipment:

Orvis Chest Waders – Light weight, breathable, comfortable.  If you plan on using your waders hard, spend the few extra bucks.  If not get a pair from Cabela’s bargain bin.
Cabela’s Ultralight 2 Lug Wading Boots – I walk (sometimes even run chasing fish) with these which is hard to do with heavy boots.  Make sure you use the metal studs as the rocks are VERY slippery.  You can also just buy corkers (spiked shoe that attaches to boot).  Don’t go with just rubber boots unless you like to swim in cold water.  
Shimano Stradic CI4 fishing reel – Super light weight which makes it easier on an old injury to my shoulder
Trekker Water Bottle Fanny Pack – I like a fanny pack because it’s small & you have everything you need around your waist.  You can also pick one up at Walmart.
Rapala Stainless Steel Fishing Pliers – These are a must.  You can cut line, remove hooks, clamp down split shots, etc with these.  I clip mine to my belt & have a cord tied to one end in case I drop them.  Regular pliers will work too but I use mine for several kinds of fishing.
Costa Del Mar Polarized Fishing Glasses – I like my Costa’s which are lifetime guarantee.  If you’re just starting get some a cheap $20 pair.  Serious fishermen will drop about $150 to $200 on these.
Utility box – Buy 1 small one for your gear.  You’ll only need hooks/flies, split shots (weights) & plastic eggs or sponges.
Crazy eggs or wally wogs – get a few packs as you will lose quite a few
Owner hooks – these hooks are sharp! The sharper the hook, the less fish you’ll lose.
Tin split shots – again buy a few bags of these as you will lose them & they’re cheap.
Salmon fishing rod – personal preference here – I like a 8’6” to 9” medium action rod.

Why Rent? Fixed FHA Mortgages at only 3.75% (5.092 APR)! King of Prussia, Plymouth Meeting, Phoenixville

Why haven’t you bought a home yet?  Is a 20% down payment keeping you from buying a home? Have you rented for a long time & just aren’t sure?  Are you a long time renter in the market to buy?  Living in the King of Prussia, Plymouth Meeting, Phoenixville or the surrounding areas? Well stop renting already!  FHA could be the answer you’re looking for.

Okay let’s use some real world #’s to help you appreciate what FHA can do for you.

How much are you borrowing

In this example the client (you) are buying a home using FHA (Line A).  Current rates are around 3.75%/5.092% APR (B) for a 30 year fixed (C).  The purchase price is $200,000 (D) & you will put down FHA’s minimum down of 3.5%.  Your base mortgage will be for $193,000 (E) & your total mortgage $194,930 (F) due to the Upfront Mortgage Insurance required by FHA (email if you want more info on mortgage insurance).

Your monthly payments

Your principal & interest payment will be $902.75 (G), property taxes guestimate $250 (H), monthly mortgage insurance $184.96 (I), homeowner’s insurance guestimate $50 per month (J) for a grand total of $1,387.71 total monthly payment (K).

Total cash needed at closing

Your down payment is 3.5% (L) of $200,000 (D) which is $7,000.  The closing costs are $5046.25 (M), the escrows/prepaids $4,000.41 (N) & Upfront Mortgage Insurance $1,930.00 (O).  Your total costs are $9046.25 for closings costs (M) & escrows/prepaids (N).  The seller* can pay for the closing costs which is $9,000 (P).  Remember that in line F we are lending you the money for the upfront mortgage insurance (O).

Bottom line out of pocket = $7,046.66

Now I’m sure I lost a few of you somewhere in the translation so click below for a video explanation.  If you have any other questions give me a call or send me an email!

Click HERE for video  

 

*You can negotiate at the time of your offer for the seller to pay for your closing costs. Please consult me PRIOR to signing a contract!!

Why Rent? Fixed FHA Mortgages at only 3.75% (5.092 APR)! King of Prussia, Plymouth Meeting, Phoenixville

USDA Updates – They now charge for the awesomeness!

In my last post I gave a few tidbits about USDA (Click here if you missed it - Kick butt 100% financing that you’ll probably qualify for).   WOW, I didn’t realize so many people would respond.  Good Great stuff guys.  So here are a few updates….

October 1, 2011 USDA Rural Housing Loan Changes:

USDA Rural Housing has been taxpayer-subsidized for years.  Long gone are those days.  The USDA Rural Housing Program will no longer be dependent on tax payer money (wish we could say the same about the big banks! Can I get an AMEN!!) To stay in business, they started charging for the awesomeness of the program (as if you didn’t know that was coming).  They not only charge mortgage insurance upfront now, but monthly as well for the life of the loan. (insert Homer Simpson like “DOH!” right here) Relax Homie, the upfront has gone down & the monthly isn’t bad.  

USDA Rural Housing mortgage insurance rates are:

• For purchases, 2.00% upfront fee paid at closing, based on the loan size - down 1% from 3% total
• For refinances, 1.00% upfront fee paid at closing, based on the loan size - no change
• For all loans, 0.30% annual fee, based on the remaining principal balance - this sucks but just think – FHA is 1.15%!

Real life numbers for USDA Rural Housing:t Name

 

Okay so paying mortgage insurance for the life of the loan isn’t cool but before you get your panties in a bunch, let’s bring it back into perspective:

• FHA charges 1.15%, which would be $184 per month (you may insert Homer-like “DOH!” again)
• 100% financing – this alone is worth it
• The rates currently are in the high 3% to low 4% range
• It’s 100% financing (yes I said this twice)
• It’s now only 2% not 3% upfront so it takes a little of the bite out of it
• You don’t need a 660 credit score
• Did I mention it’s 100% financing?

For my local clients, check out just a few of the areas that the USDA Rural Housing Programs are available in:
Collegeville, Royersford, Evansburg, Trappe, Limerick, Schwenksville, Skippack, Oaks, Kimberton, Chester Springs, West Pikeland, Mont Clare, Birchrunville, Spring City ALL QUALIFY!!!  (Insert Homer-like WOO HOO!!!)

 So what’s your next step you say? (get ready for a shameless plug for the Joe Gonzalez Team at Meridian Bank)

 I’m so glad you asked! Give Joe Gonzalez from Meridian Bank a call. I’ll be happy to help you with your financing needs! :-) I hope you enjoyed the info!

So you’re looking to buy a home, you don’t have a lot of cash to work with & want a low payment.  Looks like you better go to Craigslist & see the rental section right?

Not so fast young grasshopper (who doesn’t love David Carradine).  Enter USDA Rural Housing..…

Q: What is USDA Rural Housing?
A:  USDA Rural Housing Loans also called a Rural Development Loan, is a government insured home loan offering 100% financing to qualified buyers, allows for all closing costs to be paid for by the seller or financed into the loan (& the crowd goes wild!!). They offer some of the lowest rates of any loan at a fixed interest rate.

 

Q: What are the requirements for USDA Rural Housing?
A: 3 parts to this answer.

1.  Credit Worthiness: Your thinking, “Ok, I knew there’s a catch!”  Relax Danielson.  When your credit is reviewed for a USDA Loan the underwriter will be looking for a history of paying your bills on time.  Slow pays & credit blemishes may be overlooked if you have established your credit over the past 12 months.  A good credit explanation letter goes a long way.  If you say “I didn’t pay because I really needed that new Trans Am to pick up a hot chick” well that’s not going to win you any brownie points.  “I didn’t pay because I lost my job/got the bubonic plague/had 8 kids like octomom HOWEVER now I’m back to work & everything is hunky dory! Just check X references!” That will generally go much further….unless you still have bubonic plague.  If you have open judgments or collections the UW will most likely ask that they be paid in full before you close.

2.   Income: You will need to be able to document your income on a USDA Rural Housing Loan. USDA will generally want to see a two year history of employment or consistent income. “I’m a pizza guy, waiter, Columbian drug lord & can’t verify/get paid under the table” isn’t going to fly.  There are exceptions on the two year requirement can be made for applicants such as students. On a USDA Loan Assets are not required for approval, but can help overcome any possible blemishes on credit.  Keep in mind you MUST be within the maximum income limits.  Click HERE for the USDA Rural Housing Income Eligibility.

3.   Where you live: In order to qualify for a USDA Rural Housing Loan your home must be in designated USDA rural area. You can check the USDA eligibility of your county. It might will surprise you how many areas qualify! Scroll to the bottom to see some of the areas.  I think you’ll be pleasantly surprised!

Q: Is the USDA loan program limited to first-time buyers?
A: No, the USDA Rural Housing Program can be used by first-time buyers and repeat buyers.

Q: What mortgage products are available with a USDA mortgage?
A: The USDA / Rural Housing Program offers 30-year fixed rate mortgages only. There is no 15-year fixed rate mortgage. There are no adjustable-rate mortgages. 30-year fixed only.

Q: I can't afford closing costs. Can I get a gift for my closing costs?

A: Yes, USDA loans allow gifts from family members and non-family members. You will need a gift letter to accompany your loan application. Your loan officer (that would be me) can give you one.

Q: Can I use the USDA loan program for an investment property or vacation home?
A: No sir, the USDA Rural Housing Program is for primary residences only.

Q: Is there a minimum credit score for the USDA loan program?
A: There is no minimum score, per se, but 640 is generally regarded as a cutoff point. If your FICO is below 640, you should be prepared to explain why your credit score is below 640, and provide documentation. If you are without a credit score, your lender may accept "alternate" tradelines to establish credit history.

This list is NOT meant to be a comprehensive overview of what the USDA allows, but it covers a lot of good ground.

If you want more information, talk to your lender (that would be me J) or reach out to me directly. USDA mortgage rates are low and my office underwrites and funds our USDA loans in-house.

Now here’s the great news for all of my SEI Investments, Vanguard, De Lage Landen, Pfizer clients in & around Montgomery County.  The following cities qualify:

 

Collegeville, Royersford, Evansburg, Trappe, Limerick, Schwenksville, Skippack, Oaks, Kimberton, Chester Springs, West Pikeland, Mont Clare, Birchrunville, Spring City ALL QUALIFY!!!  (Generous applause please!!!)

So now that I have your attention, what’s the next step?  Give me a call shoot me an email with questions! It’s that simple. 

 

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