How About them Boise State Broncos! Wow, what a team.  Check out this year’s Bronco football schedule. 

You know you are ready to become a Boise State fan.   Take a look at the beautiful Treasure Valley area.  What a great place to relocate or start a new business. 

If you have been on the moon for the past few years and haven’t seen the Boise State Fiesta Bowl highlights, here it is.

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I looked through Idaho condos to see if any matched those prices and was surprised to find fewer than the number I can count on one hand priced under $30,000. But once I bumped the price from $31,000 to $50,000, more than 5 dozen popped up. Good luck trying to buy one, though. Lots of agents, especially in Idaho, don’t like to work in that price range because the net commission is too low for the effort expended.

Moreover, if you’re thinking you can pick up a cheap condo and rent it out, you better check with the homeowner association to find out if rentals are allowed in the complex or if the HOA determines the rental percentage allowed. Check the financial health of the HOA. Some distressed condo complexes are saturated with foreclosures and short sales, and can’t collect enough money in dues to cover obligations.

While the Idaho market continues to be on unsettled ground there are some great condos to be had. That being said, be cautious and know that these are often the slowest to bounce back from a recessive market. Your home loan can be done through my office and I look forward to helping you. I’ll be more than a facilitator of paperwork however. My goal is to insure you get the right home loan to insure your new Idaho home or condo is a perfect fit for you for the long term.

Guild Mortgage Idaho– Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

To learn more about Guild Mortgage and myself please visit my other site for a Boise mortgage

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The elevation of Boise is 2,842 feet above sea level and is considered “high desert” with temperatures ranging from an average range of 22 – 36 degrees in January to 58 to 90 degrees in July. The Boise valley receives an average of 12 inches of precipitation per year. Boise’s climate has four definite seasons but rarely receives snow. However, snow in the mountains surrounding the valley provide numerous opportunities for outdoor activities. There isn’t a better place to be a first time home buyer.

The Boise School District offers outstanding schools which serve over 25,000 students and employs 3,900 people including 1,700 certified staff. Their purpose statement – Educating Today for a Better Tomorrow – speaks to the district’s commitment to provide a quality education to all of its students.

Guild Mortgage Idaho– Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

To learn more about Guild Mortgage and myself please visit my other site for a Boise mortgage

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Real estate taxes for Idaho first time home buyers are paid twice a year to Ada County tax assessor and are collected in your monthly Boise mortgage payment (if you have impounds) and held in an escrow account until the tax bill comes due. 

How can I lower my Ada County Property Taxes?

Right now many properties in Ada county are accessed 5-10% above appraised values .  If you feel your property taxes are too high, you can contact Ada County Assessor, in Boise, and petition to have your property reassessed.  If you have purchased or refinanced recently, you may be able to use that appraisal.  If not, a new one will cost $400-$500.  Give me a call and I will be glad to assist.

For Idaho first Time buyers in 2009, this will not be a problem.  The properties that are being purchase now are mostly well under the assessed values.  When a home is purchased the taxes are based on the new-lower value which in turn will drop the taxes. 

If someone purchases a rental property, there will not be a home owners exemption on that property which means the taxes will be quite a bit higher until the exemption is filed.  After that, the taxes will be reduced in the following tax year. 

Another issue that Boise home buyers need to be aware of, is that if they buy a rental and the taxes are higher, that also means that it could affect their qualifying ratios.  It could be a deal breaker.  One way to get around this is to collect extra taxes at closing which will allow the Idaho home buyer to qualify at the lower tax rate.  A Realtor should be all over this and avoid a potential disaster.   

A few more posts about Boise home loans: 

Guild Mortgage Idaho– Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

To learn more about Guild Mortgage and myself please visit my other site for a Boise mortgage

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 The accuracy of this document will set the pace for the entire Boise home loan approval process.   The data that is provided, is what the Boise loan officer will be  using for automated Idaho loan approval, ordering credit,etc.  If the data cannot be verified or the data changes, your initial Boise home loan approval may be void.

I would strongly recommend that a  Idaho First Time Home Buyer, print out a copy and hand write the application.  There are only 4 pages to the application and should only take 20 or 30 minutes to complete. 

It is in the best interests of a Idaho first time home buyer to take a few minutes and become more familiar with the Boise home loan application.  Remember, you will be committing to borrower $50,000 to $400,000 for 30 years and agree to pay it back.  It is worth to take the time and Take Control of Your First Idaho Home Loan!

After you have completed the Boise home loan application make a copy for your files.  Use  your copy to compare to the upfront disclosures that you will receive within 72 hours after application.   Make sure the data hasn’t changed.

Idaho first time home buyer loan application .  Please click on the PDF and down load the application and Fax Cover Sheet.  Please fax it 208-489-2809 or scan and email to CBallhagen@GuildMortgage.net .

Please call my cell if you have any questions about the Boise home loan application or process.   208-713-3309   Thank you

Please visit my $8,000 tax credit blog. 

Other post like this one-

• The “New” Home Buyer Tax credit For Boise Idaho
• No HVCC for Boise Idaho First Time Home Buyers
• Boise First Time Home Buyers Leverage Tax Credit
• Boise Idaho Home Buyers Free Credit Report
• Boise Home Buyers and Upfront Loan Disclosures
• Private Mortgage Insurance Really Stinks!

    To learn more about Guild Mortgage and myself please visit my other site.

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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Thank you for downloading my Boise, Idaho Homebuyer’s Handbook.  I have made this handbook brief, providing you with limited yet very valuable information.  The vast amount of information that is readily accessible can be overwhelming (and not very effective) if you don’t know WHICH information is most pertinent for closing your home loan in a timely and effective manner. 

I have lived in Boise and assisted home buyers for over 13 years.  I have access to various handbooks and many websites that I will be glad to share with you at anytime.  Please contact me 208-713-3309 or e-mail me at CBallhagen@GuildMortgage.net.  My site is located at www.MyFirstBoiseHome.com. There are many other posts and resources that you are welcome to explore.

Link to the Handbook-please download Boise Idaho Home Buyers Handbook

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 Here are a few posts to get you started:

 Guild Mortgage – Home loans Boise – Craig Ballhagen               208-713-3309       

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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It is the Boise loan officer’s duty to make sure that all Boise Idaho First Time Home Buyers fully understand the process, total costs, and complete terms of Boise loan that they are applying for.
I have a list of Boise Idaho ’First Time Home Buyer’s Bill of Rights’ that all Boise loan consultants need to fully explain to all of their clients.

The Boise Idaho home Buyers Rights are:

1. Will be provided a copy the Boise  home loan application and Good Faith Estimate at the time of application.
2. To receive a copy of your credit report and provide any necessary counseling.
3. To be provided a copy of the upfront Boise home loan disclosures 72 hours after application. Bring your copy of the disclosures to the final closing and make sure nothing has changed.
4. Receive a copy of your appraisal 48 hour before your sign your final Boise home loan documents.
5. Be provided with a final HUD 1 closing statement outlining your total costs, prior to signing your final  Boise home loan documents.  If changes need to be made, they need to be done before your sign.
6.  To know if your Boise Idaho home loan is being processed locally, if not, expect the Boise  home loan process to take weeks instead of days. Out of state processing is a huge disadvantage to Boise Idaho first time home buyers.  Much control is lost when Boise Idaho home loans are processed out-of-town.

If these  Idaho ”First Time Home Buyer’s Rights’ ‘ are not met, consider working with another Boise loan consultant.

There were many contributing factors to the recent mortgage meltdown and increased foreclosures.  Idaho first time home buyers didn’t  have the experience to make informed choices about purchasing their first Bosie Idaho home and have a full understanding the Boise mortgage process.

The next wave of Boise  First Time Home Buyers need to be a part of the ‘mortgage meltdown’ solution by becoming a much more ‘healthier’ group of responsible Boise Idaho home owners.  It is also up to all Boise Lenders and Realtors to provide  Idaho First Time Home Buyers with all of the information and education they need to help them make much better decisions!

Idaho first time home buyers need to be empowered! Lack of clarity and explanation on the Bosie lenders part didn’t help either.  Many Idaho first time home buyers didn’t know what qualifying questions they should be asking of their Boise loan officer or what is to expected of the Idaho mortgage company.  Know Your Rights!

If a  Idaho first time home buyer has any concerns about a Boise loan consultant or a mortgage company. They can contact the Boise Better Business Bureau or Idaho Department of Finance here in Boise.

Some other resources are Fannie Mae, FHA loan , and Boise Idaho Housing Authority, (here is Boise),  web sites.

Here are 2 more sites the National Association of Consumer Advocates and Mortgage Consumer Advocates.

Go back to basics, print out a  Copy of Copy of Personal Budget and take control for your financial future!

    To learn more about Guild Mortgage Home Loans and myself please visit my other site.

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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These days in the real estate world, home loans have become a challenging undertaking.   That is why it is so important to establish a lasting relationship with a professional lending institution, such as Guild. 

Below is a list of other qualities to consider when looking for your next lender:

• In house underwriting, processing, and funding.-Lenders that have their Boise home loans underwritten out-of-town lose much control and have a much greater challenge delivering time line expectations.
• Instant access to seasoned underwriters.  This give Realtors that ability to ask an Boise loan officer a particular question about a potential Idaho home buyer and get an answer instantly without having to officially submit a Boise loan.
• Re-draw closing documents in 15 minutes, yes 15 minutes.  If there is ever a mistake (misspelled name, for example) with the final Boise loan documents, Guild Mortgage’s in-house doc department can re-draw instantly.  Most  Idaho lenders need at least 24 to 48 hours.
• Platinum mortgage insurance rating allows Guild Mortgage to lend on second homes with 10% down, 5% down on conventional Idaho loans and other special loan to value advantages.  Many Boise lenders do not have this rating.
• Idaho Housing One Day in-house approval- Currently brokers with Idaho Housing buyers, have to wait 3 to 4 weeks for IHA approval for their Idaho home loans.
• $8,000 First Time Home Buyers Tax Credit Program-Not every lender can offer this program.  Check with Idaho Housing for the list of approved Boise Idaho lenders.

The most recent challenges that home buyers, Realtors and lenders have to deal with are ever changing.  Now more then ever, Realtors need to know the abilities of their lender.  If their current lender is not truly FULL SERVICE, a switch needs to made to Guild Mortgage.

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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One way to leverage the $8,000 tax credit, is to increase the down payment.  If a Idaho first time home buyer were to buy a $100,000 home, for example, they could put down the whole $8,000 instead of the traditional 3.5% ($3,500).   That would reduce the loan amount on the first mortgage and lower their mortgage payment approximately $30.00.  Remember every little bit helps! 

A second way to capitalize on this great offer, would be to pay off some consumer debt.  Back to the 100k example, a first time buyer could put down the regular 3.5% ($3,500) and use the remaining $4,500 to pay off a car loan.  Imagine that, no car payment.   How empowering.  Now the new home owner can take it to the next level by leveraging  the monthly car payment and applying it to other debt.  That extra monthly savings can also be applied towards the new mortgage.  If a home owner were to make one extra payment a year, a 30 year fixed would be reduced to a 22 year loan.  That difference could save a home owner 30-40 thousand in finance charges.  Saving money and leveraging limited income is the key to financial success. 

And yet another way to leverage the $8,000 tax credit is to contact  a local H & R Block tax professional and have 2008 tax returns amended.  That would put the cash in a new home owner’s hand in a few weeks, instead of waiting until next spring.

Always consult a tax professional regarding the $8,000 tax credit! Everyone’s tax situation is different.

When is comes to financial responsibility, home buyers  need to take control.  Set up a Personal Budget and don’t live beyond your means. 

Other post like this one-

• The “New” Home Buyer Tax credit For Boise Idaho
• Boise Idaho First Time Home Buyers Mortgage Loan Application
• No HVCC for Boise Idaho First Time Home Buyers
• Boise Idaho Home Buyers Free Credit Report
• Boise Home Buyers and Upfront Loan Disclosures
• Private Mortgage Insurance Really Stinks!

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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Yes, the financial system almost collapsed because mortgage bankers and brokers told lies about loan terms and loosened standards in dangerous ways, and investment bankers packaged those loans into bonds that were far more toxic than ratings agencies predicted.

But the roots of the mortgage contagion lie with all of us and our desire to own just a bit more house.

So as the one-year anniversary arrives of our near financial collapse, it’s a good time to blow up a long-standing but underexamined maxim of real estate — that you should always stretch financially when buying your first home.

No one is quite sure who came up with this idea, though suspicions rest on real estate agents or kindly parents with the best of intentions who never expected that real estate prices could fall. Whatever its origin, the economists and financial planners I spoke with this week are almost unanimous in their rejection of it.

START WITH THE BASICS Let’s begin with some other standards, tried and true advice that served banks and borrowers well for years, until they forgot all about them in the race to write more loans and buy bigger houses. Put 20 percent down, so you have less of a chance of owing more than your home is worth if prices fall again. Get a fixed-rate mortgage, so the biggest part of your monthly housing bill remains stable.

CONSIDER YOUR INCOME The best case for stretching for a first house is that first-time home buyers in their 20s and 30s will probably see their incomes grow more quickly than older people buying their second or third home.

BOW TO UNKNOWNS This research is all well and good as long as you continue to work. But if you’re buying your first home before you have children, you may feel quite differently about work once you become a parent. And if you do, you may not want a mortgage boxing you in to going back to the office three months after the baby is born.

MAP OUT EXPENSES It stands to reason that anyone tempted to stretch for a house will be inclined to play down the expense of maintaining it. These costs are anything but ancillary, though.

BUY BEST (OR CHEAPEST) All of these caveats have given rise to some unusual strategies. Michael Kalscheur, a financial planner with Castle Wealth Advisors in Indianapolis, suggests buying the dream house you covet (if you can afford it) or an inexpensive starter house but not anything in the middle.

STRETCH THE HOUSE Better yet, keep in mind that you don’t ever have to move from that first home — and incur all of the transaction costs associated with selling and buying and moving again.

THE EIGHT-HOUR RULE One rule about all of these rules is that it’s unlikely that every one will apply to every circumstance. Individuals and their income streams are too varied, and real estate markets are themselves unique.

Ron Lieber-New York Times Sat September 26, 2009

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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