My First Boise Idaho Home Loan – Boise Mortgage Loans

 Taxes, taxes, taxes, what is the deal with property taxes.  With the declining home values, people’s accessed values are also going down.   For many this is a huge relief.  

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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Most Boise Idaho first time home buyers focus only on “what is the rate”?  When the most important question is “WHERE ARE MY BOISE HOME LOANS BEING PROCESSED?”   The interest rate is very important, but where the mortgage loans are underwritten and funded is primary.

IF YOUR IDAHO FIRST  TIME HOME BUYERS LOANS CAN’T BE CLOSED ON TIME OR CLOSED AT ALL, THE RATE MEANS NOTHING!

Guild Mortgage is located near the intersection of Chinden and Cloverdale here in Boise.  All Idaho first time home buyer loans are processed, underwritten, and funded all in our Boise Idaho location.  If necessary, a first time home buyer can contact our underwriter and even meet face-to-face.

 This is a HUGE ADVANTAGE for Idaho first time home buyers.  You will know exactly where your Boise loan is in the process at all times…never leaving you in the dark. 

The “In House Process”  is the key to ensuring a Boise Idaho First Time Home Buyer’s file will be closing on time every time. 

 Many other mortgage Boise lenders have their files underwritten in a centralized processing center (some large city out of Idaho). Out-of-state processing will take weeks instead of days.   An Idaho First time home buyer looses all control.

Guild Mortgage offers all types of Idaho First Time buyer home loans. There are basically 2 types of Boise home loans available to the consumer: Government and conventional. Most of the time a Idaho First Time Home Buyer will have a FHA (Federal Housing Administration) loan.  FHA mortage loan allows buyers to put down the minimum amount, 3.5%, which can be “Gifted” by a family member.  All of the mortgage Boise loan closing costs can be paid by the seller (6% of the purchase price). 

The required 3.5% can also be financed with a small second mortgage loan (the 1st mortgage is the FHA loan) through Idaho Housing Authority.

BOISE IDAHO FIRST TIME HOME BUYERS-TAKE CONTROL OF YOUR BOISE HOME LOAN PROCESS!

Other posts 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 First Time Home Buyers Leverage Tax Credit
• Boise Idaho Home Buyers Free Credit Report
• Private Mortgage Insurance Really Stinks!

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

Guild Mortgage –  Boise Mortgage 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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 Boise first time home buyers need to take control the their mortgage loan process and completely understand how the total mortgage payment is calculated. 

Most First Time Buyer loans payments are made up of 4 numbers that make up the total payment.

  1. Principal & Interest is calculated by using the mortgage calculator.  Enter you estimated loan amount and rate.

Check today’s rates for a Boise mortgage for Idaho first time home buyers.

 2. Homeowners Insurance  usually runs between $20 and $40 per month, depending on the cover that they chose to cover their Idaho mortgage. 

 3.  Real Estate Taxes are usually 1.25% of the purchase price. For example with a $100,000 purchase price, the taxes would be approximately $1,250 per year which would be $104. per month.  

  4. Mortgage insurance  on a $100,000 loan would be approximately $45.00 per month.  This only applies if a home buyer puts less then 20%.  The up front Good Faith Estimate will provide much more detail and complete breakdown of all of the fees and total Idaho mortgage payment.

Please take the time to understand how a Boise mortgage payment is put together.  When you break it all down, it is much easier to know where your next Idaho mortgage payment will be.

 Here are a few other posts you may find informative

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

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

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The uniform residential mortgage Boise home loan application is the most important first step to home ownership.  It is critical that the home loan application be completed with accurate, verifiable information.  

 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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  Boise Idaho’s next generation of first time home buyers must step up and take control of their home loan process and take responsibility for the documents they are signing.  Remember you are borrowing hundred’s of thousands of dollars and required to pay it all back.

  Take the time to gather the information about the loan process and examine ALL of YOUR loan documents. 

 It is the loan officer’s duty to explain everything to all first time home buyers.   If your loan officer doesn’t look out for you, no one else will, until it is too late.   TAKE CONTROL!

Home buyers must take the time to review everthing prior to going to the title company.  Some potiential first time buyers don’t ask any questions until they are at the signing table.  That is too late. 

 Here are a few things to keep in mind when purchasing your first Boise Idaho home

 Make sure you have complete underwriter pre-approval, not just pre-qualified.  In today’s fast moving purchase  transactions, buyers need to be completely ready to go.

1. Obtain a full credit report with all 3 bureaus-now you must have 3 accounts with 12 month history.
2. Insist on a Good Faith Estimate upfront.  A GFE has complete breakdown of all of the costs and down payment associated with the loan process.
3. Print out your own loan application and fill it out.  It will only take you 20 to 30 minutes.  That gives YOUcontrol.  Remember the HUGE COMMENTMENT you are about to make.  Take the time to do it RIGHT!
4. Do NOT do any unnecessary spending or obtain new credit. .
5. I would recommend attending the Idaho Housing Authority First Time Home Buyer Class located at 6th and Myrtle in Boise.
6. Make sure your first time buyer home loan is processed  and underwritten locally here in Boise and your loan consultant is able to meet with you face to face at anytime if necessary.   If your loan consultant is out of state, are your best interests a top priority?

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 First Time Home Buyers Leverage Tax Credit
• Boise Idaho Home Buyers Free Credit Report
• Private Mortgage Insurance Really Stinks!
• Boise Home Buyers Calculating their First Mortgage Payment

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

Boise First Time Home Buyer Instant Gratification

Request for No Obligation Home Buyer Analysis

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

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