Use The $8,000 Tax Credit As A Downpayment For First Time Homebuyers On FHA Loans

Even better news for Kansas City first time home buyers in 2009, as of yesterday the government is going to allow first time home buyers to use the $8,000 tax credit as a downpayment on FHA (Federal Housing Administration) financed loans! No more waiting until next year’s tax return to collect on the money. Buyers will be able to capitalize on this tax credit at the closing table.

Since the FHA requires a minimum 3.5% down payment from buyers, having up to $8,000 would mean buyers wouldn’t have to immediately dip into their savings for the downpayment.

Buyers need to act fast though, this program ends December 1, 2009.  Sign up today for Papa’s FREE First Time Home Buyer’s Seminar to cover this topic in depth. Seminar is held the 1st and 3rd Tuesday of each month at 6:30 p.m. Click here to register online now! 

Click here for the full story from realtor.org

 Click here for the full story from the  Wall Street Journal online

Click here for more information on Papa’s Free First Time Homebuyers Seminar

Brad Papa
RE/MAX State Line
913-526-4985
bradleypapa@remax.net
www.PapasInTheHouse.com
Come to Papa For All Your Real Estate Needs!

Must See Spring Hill Listing – End Unit Townhome – Video Up Now!

RE/MAX State Line real estate agent, Brad Papa has been helping people achieve their real estate goals for over five years and specializes as both a buyer’s or seller’s agent. Brad has resided in the Kansas City/Olathe area for his entire life and is an expert dealing with all areas of the metropolitan area.

Brad Papa

RE/MAX State Line

913-526-4985

bradleypapa@remax.net

www.PapasInTheHouse.com

How To Find A Real Estate Agent In Olathe Kansas

It’s time! You are ready to buy or sell in the Olathe real estate market, but you are now wondering how to you find a qualified, professional Olathe real estate agent?

Here are some common ways people find agents:

• Word of mouth/referrals
• Family/friend in the business
• Someone You Know Is A Part-Time Agen
•  Agent Who Sold Your Neighbor’s House
• At An Open House

 

A real estate agent should not just be just handed the job, they should have to earn it. Before you got your current job, you had to complete a resume with your qualifications, interview for the job and make a great impression on the hiring agent and demonstrate why you were the best solution for the position. It should be the same when hiring an Olathe real estate agent.

As a client, you deserve to have the best representation. When you receive a referral or if you have a friend that is an agent, make sure that they are your best solution. A friend, family member or a referral can cost you thousands, if the agent does not fit your needs. I suggest identifying three to four agents in your area and interview them. Ask them similar questions such as:

• Are you a full-time or part-time agent?
•  How long have you been in the business?
• Can I call your previous clients for references?
•  How do you differentiate yourself form other Olathe real estate agents?
• Why should I hire you?

Make up your own list of questions! Then consider other factors important to you such as: experience, communication style, areas of experties etc. You deserve the very best representation! For more information on Olathe real estate agent, Brad Papa follow the below links!

Brad Papa Buyer’s Agent FAQ

Previous Clients Testimonials

 

 

 

 

 

 

Brad Papa
RE/MAX State Line

913-526-4985
bradleypapa@remax.net
www.PapasInTheHouse.com

Fabulous Olathe Home In Foxfield Village – 3 Car Garage – Move-In Ready

Brad Papa | RE/MAX State Line | 913-526-4985 21016 W 118 Terrace, Olathe, KS Fabulous home in Foxfield Village w/3 car garage! 4BR/3BA Single Family House offered at $235,000 Year Built 2001 Sq Footage 1,676 Bedrooms 4 Bathrooms 3 full, 0 partial Floors Unspecified Parking Unspecified Lot Size 10,569 sqft HOA/Maint $0 per month DESCRIPTION Fabulous home in Foxfield Village w/3 car garage! Gorgeous master suite with spa-like bath & walk-in closet. Gleaming hardwood floors, vaulted ceilings, tiled bathrooms, ceiling fans, bay window, two living areas & great appliances. Backs to greenspace w/walking trails. Five minutes from everything. Amazing neighborhood pool! see additional photos below ADDITIONAL PHOTOS Home Sweet Home Kitchen Living Room Master Bedroom Walk Out Basement Master Bath Contact info: Brad Papa RE/MAX State Line 913-526-4985 For sale by agent/broker Equal Opportunity Housing Posted: Apr 15, 2009, 10:00am PDT

Fabulous Shawnee Home In Pristine Condition – Pottery Barn Decor

Brad Papa | RE/MAX State Line | 913-526-4985 6414 Chouteau Street, Shawnee, KS Fabulous Shawnee home in pristine condition! 3BR/2BA Single Family House offered at $193,000 Year Built 1991 Sq Footage 1,496 Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking 2 Car garage Lot Size 6,001 sqft HOA/Maint $0 per month DESCRIPTION Fabulous Shawnee home in pristine condition! Open floor plan. Gleaming hardwood floors, vaulted ceilings, tiled bathrooms & upgraded light fixtures. Great room with tiled fireplace & large windows. Double walk-in closets in master. Finished basement for second living area & plenty of storage. Five minutes from everything. see additional photos below ADDITIONAL PHOTOS Front Kitchen Living Room Finished Basement Master Bedroom Master Bath Contact info: Brad Papa RE/MAX State Line 913-526-4985 For sale by agent/broker Equal Opportunity Housing Posted: Apr 23, 2009, 7:04pm PDT

Fabulous Shawnee Home – Open Floor Plan – Pottery Barn Decor

RE/MAX State Line real estate agent, Brad Papa has been helping people achieve their real estate goals for over five years and specializes as both a buyer’s or seller’s agent. Brad has resided in the Kansas City/Olathe area for his entire life and is an expert dealing with all areas of the metropolitan area.

Brad Papa

RE/MAX State Line

913-526-4985

bradleypapa@remax.net

www.PapasInTheHouse.com

How Much Mortgage Can I Afford?

 The lender is primarily looking at two factors in evaluating your qualification for a home loan.

·  The funds you have available for a down payment

·  Your continuing income for paying the monthly housing expenses

The lender will want to know if you have cash available for paying the down payment and other up-front closing costs. They are interested in your long-term debt, defined as any debt that will take more than 10 months to pay off.

Lenders look at two ratios of your debt and income. They calculate your percentage of debt by dividing the amount of money you pay each month to creditors by your monthly income. Remember that low ratios do not always lead to approval and high ratios don’t always lead to denials. Other factors such as payment history are evaluated along with the debt ratios.

Bottom line is that you must be comfortable making your monthly payment. Prior to talking with your lender you should review your monthly expenses and income and determine what total monthly payment you are comfortable making. Then, take this number to your lender and they will help you work backwards to come up with a purchase price that supports that monthly payment.

 

Brad Papa
RE/MAX State Line

913-526-4985
bradleypapa@remax.net
http://www.papasinthehouse.com/

5 Tips For Kansas City First Time Home Buyer’s

 

Review Your Monthly Expenses: Take account of how much you spend and where. Can anything be cut back? After you analyze your expenses, you should then be able to come up with a monthly payment you are comfortable with. This is the amount you should take to your leader, NOT how much of a house you think you can afford. Payments are not simply principal and interest, there is also taxes, insurance and sometimes PMI (private mortgage insurance)

Get Pre-Approved: A pre-approval letter is basically your “license to shop”. You should have this letter before you begin looking, so you know how much of a house you can truly afford. Your Olathe real estate agent, Brad Papa has a handful of trusted, qualified mortgage brokers to recommend. Remember, a pre-approval and credit check should NEVER cost money!

Save, Save, Save!: You can never save too much! And recently, the mortgage industry in the Olathe real estate market has changed and they have drastically reduced the number of 100% financing loans they make available, so you will most likely need a down payment of some type.. One additional tip, ask Olathe real estate agent how you can have the seller pay your closing costs!

Inspection: You should ALWAYS have an inspection on a home before you purchase it. Licensed real estate agent Brad Papa always, always has his buyer’s do an inspection on the property to make sure it is a sound property.

Ask Questions: That is your licensed, Olathe real estate agent’s job! Remember they represent YOUR best interested and should gladly answer ay questions you have. Make sure you are 100% comfortable with the process.

 

 

 

Brad Papa
RE/MAX State Line

913-526-4985
bradleypapa@remax.net
www.PapasInTheHouse.com
Come to Papa For All Your Real Estate Needs!

Reasons To Get Pre-Approved Before House Hunting

1. Interest rates are usually locked for a set period. Getting pre-approved will let you know in advance exactly what your payments will be on offers you choose to make.

2. You won’t waste time considering homes you cannot afford.

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

4. Most seller’s require a pre-approval letter along with the contract, so it will make your offer more enticing.

5. You will have an estimate of total closing/purchase costs along with their explanations.

6. You will have the opportunity for your mortgage broker to explain the different financing alternatives and help you select the one best suited for you.

7. You will be able to accurately guess your monthly mortgage payment including principal, interest, private mortgage insurance (PMI), taxes and escrow.

8. Since you have the pre-approval step completed, your real estate agent will have ample time to discuss home styles, availability, location, schools and any specific features you desire.

Don’t find the perfect house and then realize you can’t afford it! Get pre-approved today and start looking for your future home. Contact Brad Papa if you have any questions or what to start your home buying journey!

Brad Papa
RE/MAX State Line
913-526-4985
bradleypapa@remax.net
www.PapasInTheHouse.com
Come to Papa For All Your Real Estate Needs!

Reasons Brad Papa Should Be Your Olathe Real Estate Agent

Non-Pushy Attitude
A home is a huge purchase, and a decision that you should be 100% comfortable
making. We look at homes based on your desires; I don’t try to force you to like
a home. We write a contract when you find YOUR dream home. We work at your pace
and time schedule, not mine.

Click here if you are interested in attending a FREE First Time Home Buyer’s
Seminar!

Easy to Get A Hold of Me
This may be one of the biggest complaints I have heard, that people aren’t able
to get in contact with their realtor! I ensure my clients are always able to get
a hold of me, as I never turn my phone off and I always have it at my side. If I
do miss a phone call, I return it as soon as possible. In addition, feel
comfortable sending me an e-mail or fax as well, because I am able to access
them immediately with my mobile device.

Click here to view Client Testimonials from satisfied clients!

Market Knowledge
I have lived in Kansas City nearly all my life, so I am familiar with the entire
metropolitan area. From The Plaza to Olathe, I can offer extensive knowledge on
which neighborhood that would best meet your needs.

Already own a home? Click here to view information on Selling With Papa!

Visit http://www.papasinthehouse.com/kansas-city-buyers-agent.aspx for more reasons to choose Brad Papa as your Olathe real estate agent for life!