Debt-to-Income

When mortgage companies are qualifying you for a mortgage, they look at two types of debt-to-income ratios – Front end and Back end ratios.

Front end ratio-This is figured by dividing your monthly income by your new proposed mortgage payment.

Back end ratio – This is figured by dividing your monthly income by your total monthly debt (including your new proposed mortgage payment). Your monthly debts may include auto payments, credit cards, installment loans, etc. They do not include cable, electric, insurance, cell phones, or items like that.

Each loan type has different limitations for the front and back end ratios. Usually the front end ratios range around 29-31%, where the back end ratios range around 41-43%.

Call me today for more details!

Danielle Hifko
New American Mortgage
910-581-6398

What is PMI?

PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI.

Benefits of PMI
PMI plays an important role in the mortgage industry by protecting a lender against loss if a borrower defaults on a loan and by enabling borrowers with less cash to have greater access to homeownership. With this type of insurance, it is possible for you to buy a home with as little as a 3 percent to 5 percent down payment. This means that you can buy a home sooner without waiting years to accumulate a large down payment.
PMI is not added to VA loans. It is used on FHA, USDA, and Conventional financing.

Contact me today for more information!

Danielle Hifko
New American Mortgage
910-581-6398

A Touch of Luxury Living at an Affordable Price!

American Homesmith gives each of their homes that extra touch of luxury with all the added finishings throughout their homes. Right now Southwest Plantation has 6 American Homesmith homes that are move-in ready! Take a look at the flyer and if you have any questions or would like to schedule a tour give us a call! (910)346-1227

$5,000 Selling Agent Bonus & $2,000 Use as You Choose for the Buyers

Price was just reduced to $190,000 and overlooks hole 1 at Bear Trail Golf Club. This home features 1,667 sq. ft., 3 bedrooms, 2 bath, an open floor plan with a large finished storage room off the garage. It is a must see. Give us a call for a tour (910)346-1227!

The Brunswick ONLY $174,000!

This one story home built by 70 West Builders is move-in ready TODAY!!! Give us a call at the sales center for more information and to take a tour.

Airing on ABC & FOX!

Christmas Cheer Bonus at Southwest Plantation!

Hispanic households grow, accounting for more than half of new homeowners

Hispanic households grow, accounting for more than half of new homeowners

No Change until 2016

No VA Funding Fee Change

Although VA had mentioned changing the funding fee a few times, they have decided to keep it the same.  As of now, the fee will remain the same until 2016.

-2.15% - Funding fee for first time VA use

-3.30% - Funding fee for second or subsequent uses

Don’t forget – if you receive at least 10% VA disability, they will waive the entire funding fee for you.

In addition, if you put money down (at least 5%), they will reduce the funding fee, regardless if it is your first use or any subsequent use.

Contact me today for more information!

Danielle Hifko

New American Mortgage

910-581-6398

Black Friday Sale! $5,000 Buyer's Agent Bonus

Take the guess work out of which income is considered for a loan.

What income can be considered when getting qualified for a loan?

-Employment income – If there has been a gap in employment, lenders need to see six months of recent income

-Social Security Income – Awards letter required to consider this income

-Retirement/Disability/Investment Income

-Child Support/Alimony

With the following, the lender must have proof it will continue for at least 3 more years: Child support, alimony, retirement, and investment income.  If it is not set to continue for at least this amount of time, it may not be considered in qualifying for a loan.

What income cannot be considered?

-Unemployment

-Income from attending school – GI Bill, Grants, etc

What factors affect your mortgage rate?

What factors can affect your mortgage rate when applying for a loan?

-Loan program – VA, FHA, USDA, Conventional

-Amount of loan – when loan amounts approach $100,000 and under, the interest rate may be a little higher

-Length of loan – 15 or 30 years

-Fixed or adjustable rate

-Credit score

-Length of lock period

-Type of ownership – primary, secondary, investment

-Purchase or Refinance

Contact me today for more information!

Danielle Hifko

New American Mortgage

91-581-6398

Run For A Reason

It is always a pleasure to work with people/companies that care and give back to the community and help fight for causes!

Join the run and have an opportunity to win and have $5,000 donated to the Camp Lejeune Fisher House in your name, courtesy of American Homesmith Builders.

If you are interested in running for a reason visit Run for a Reason and join in on Nov. 5th, 8am at the Jacksonville Commons Middle School!

VA Funding Fee Change

As of November 18^th, 2011 the VA funding fee will be changing.  For first time use, the rate will decrease to 1.40% from 2.15%.  For second or subsequent use, the rate will decrease to 2.80% from 3.30%.  These rates are based on less than 5% downpayment.  The fee decreases if more money is put down. 

Also a reminder that if you receive at least 10% VA disability, VA will waive the entire funding fee!

Contact me today for more information on the funding fee changes!

Danielle Hifko

New American Mortgage

910-581-6398

Halloween Happenings!

This year we are doing things a bit different at Southwest Plantation. The 1st Annual 9-hole Boo Ball Scramble will take place on Saturday, October 29th at 4 pm. Prizes will be awarded to teams with costumes. Cost is ONLY your cart fees. If you are planning to put a team together be sure to RSVP by Thursday, October 27th at the Pro Shop (910)346-8160!

Following the Boo Ball Scramble the Halloween Party will start at 7:30 pm until Midnight at the Pool House. Prizes will go to the 3 BEST costumes of the night!

So come out and join us for ghoulish food, frightening treats & scary music!

*Open to all Homeowners & members at Southwest Plantation, Home of Bear Trail Golf Club

What is the NCHFA?

North Carolina Housing Finance Agency

What is the NCHFA?  - Their mission is to create affordable housing opportunities in North Carolina.

They have different programs available, including annual tax credits and down-payment assistance of up to $8,000!

Of course, with a program that helps people get into homes, there are also extra guidelines – income limits and sales price limits!  These are determined by the county you are looking to purchase in.  You must also use a lender approved by NCHFA.

For more information, visit www.nchfa.com or contact me today!

Danielle Hifko

New American Mortgage

910-581-6398

Credit Do's & Dont's

When purchasing or refinancing a home, good credit is CRITICAL to get the best offer.  Answer me this – What do you do to protect your credit when you are getting a mortgage? How do you make sure your scores don’t decrease?

Let me help you…

Make sure you:

1. Stay current on all accounts – one late payment can drastically hurt you!

2. Continue using your credit as normal

3. Call your mortgage consultant before doing ANYTHING with your credit!

Biggest Oopsies!        

1. DO NOT apply for new credit (no co-signing either!)

2. Don’t pay off old collections or charge offs

3. Don’t close any credit card accounts

4. Don’t max out or over charge accounts – try to keep your balance under 30% of your limit!

5. Don’t consolidate your debt – this may raise your ratio on that card

Wednesday's Life Lesson

A sales rep, an administration clerk, and the manager are walking to lunch when they find an antique oil lamp. They rub it and a Genie comes out. The Genie says, “I’ll give each of you just one wish” “Me first! Me first!” says the administration clerk. “I want to be in the Bahamas, driving a speedboat, without a care in the world.” Poof! She’s gone. “Me next! Me next!” says the sales rep. “I want to be in Hawaii,relaxing on the beach with my personal masseuse, an endless supply of Pina Coladas and the love of my life.” Poof! He’s gone. “OK, you’re up,” the Genie says to the manager. The manager says, “I want those two back in the office after lunch.”

Moral of the story: Always let your boss have the first say.

Closing Costs, what is really included?

What is included in closing costs and how much does it cost?

Usually closing costs are about 3% of the loan amount, give or take a little bit, depending on lender fees, origination, and third party fees.

Closing costs are made up of various items such as: attorney fees, title insurance, homeowner’s insurance, appraisal fees, interest charges, and lender charges.

Your lender should be able to provide you with a closing cost estimate or Good Faith Estimate to help break down the total cost.

Contact me today for more information and to get qualified for a home loan!

Danielle Hifko

New American Mortgage

910-581-6398

USDA Funding Fee Change!

Effective October 1, 2011, USDA is changing their funding fee from 3.5% to 2%!  In addition to this change, they will now charge an annual fee of 0.3% for all loans.  The annual fee is based on the scheduled average unpaid principal balance and will be escrowed into the payment.

Call me today for more information!

Danielle Hifko

New American Mortgage

910-581-6398

Are You VA Eligible?

Sounds like a simple question, but many people are unsure of VA home loan eligibility.

ELIGIBLE: Available to veterans, reservists, active-duty personnel, and surviving spouses of veterans that have not re-married.

VA home loan entitlement is not passed to children or family members like other VA benefits are.

Yes – you can use your VA eligibility more than once – it must be restored from your previous use.  Also, a VA home loan can only be done if it is your primary residence!

Contact me today for more information!

Danielle Hifko

New American Mortgagee

910-581-6398

Fundraiser at Southwest Plantation

You are all cordially invited to attend the Hole-In-One for Education fundraiser to benefit the Bright Ideas Educational Grant Program at Southwest Plantation this Thursday evening from 6:30-8:30pm in our Model Home. There will be plenty of wine, courtesy of Duplin Winery's, food catered by Class Act Catering, a 50/50 drawing and giveaways!

The 50/50 drawing will raise money for the Bright Ideas Educational Grant Program to help local Onslow County school teachers. 50/50 ticket prices are: 1-$1.00, 6-$5.00 & 12-$10 and will be available for purchase at the door.

This event is FREE and open to all Southwest Plantation Homeowners, Bear Trail Golf Club members and guests. The evening will be a lot of fun and is for a great cause. We look forward to seeing everyone on Thursday, September 8th from 6:30-8:30pm.

If anyone has any questions please do not hesitate to call (865)804-5901 or email SouthwestPlantation@gmail.com

Southwest Plantation
444 Harris Creek Rd,
Jacksonville, NC 28539
(910)346-1227

*Model Home is located in the Bungalows neighborhood across the street from the pro shop.

Mortgage Minute: Refinancing

What are some of the reasons you would refinance your home?

• -        A rising mortgage payment due to an ARM loan resetting
• -        Consolidating your first and second mortgage to reduce your overall payment
• -        Using home equity to fund an important purchase
• -        Consolidating credit card debt or other high interest debts
• -        Eliminating PMI (Private Mortgage Insurance) payments

When was your last mortgage check-up?

We go to the doctor every year for check-ups…your mortgage should work the same way.  You need to check your mortgage every few years to see if there are better options out there for you.

Call me for a free mortgage check -up!

Danielle Hifko

910-581-6398

Mortgage Consultant

New American Mortgage

Sunday's Motivation

Have you ever had one of those days or weeks where everything feels like it crashes down all at once? The saying, "When it rains it pours" hits too close to home.

We have all had those days, weeks, months and years. We think nothing could possibly get any worse and nothing can make the situation better. You might start feeling sorry for yourself, loose your confidence and self worth.

I found this video today that I believe will have you looking at yourself and your life in a different light when you find the rain pouring down. It is a great video for you and your family to watch. The message in this video is very powerful!

 

 Please leave your thoughts below. Did this video make you think differently or is it just another motivational video?

Realtor Tip: 80% Rule

It is simple: If you find 80% of what your looking for in a home - That is the home for you!

You might be asking yourself, "Why should I settle for 80%?" Well the answer is you are not settling. It is very rare if not next to impossible to find 100% of what you want in one single home. There will always be a funny shaped closet or the bathroom could be six inches bigger or maybe a closet door would make more sense as a pocket door in your book.

Stop and think to yourself, "Is that six inches in the bathroom enough of a flaw for you to walk away from the house with the immaculate kitchen, large living room and the large bedrooms you dreamed of?" Chances are its not. So instead of walking away from your dream home because of the funny shaped linen closet, embrace it and welcome yourself home!

Stay tuned for more helpful Realtor Tips every Saturday from the Southwest Plantation expert Diane Castro. If you have any direct questions for Diane Castro please post them here or feel free to email her at: diane@castrorealestategroup.com

Builder Tip: Analyze Floor Plans

When you walk into a home for the first time, what do you see? The stunning hard wood floors, sparkling granite counter tops, huge walk-in closets and luxurious master bath. If those are what you see then you are missing the bigger picture.

Next time you walk into a home or view a floor plan take a look at the length of hallways, the positioning of coat closets and the location of cable hook-ups. Look at the natural traffic flow through the home and think about what rooms in your home now are used the most and what they are used for.

A home could be 1,800 square feet, 3 bedroom, 2 bath, living and dining rooms with an open kitchen and large walk-in closets. It sounds great, right? Well, when you walk into the home you notice the living room is only 10'x9' yet the walk-in closet in the master bedroom is 10'x10'. Stop and think to yourself, "Once I move-in what will fit my families needs more, a large walk-in closet for my clothes with a smaller living room or a larger living room that will fit my family of five with room to move around with a little less of a walk-in closet."

All of that brings up the point that instead of looking at a floor plan you need to analyze the floor plan. Look at how the square footage is utilized. Where is square footage being lost? Where could square footage be better utilized? Think of the traffic flow through the home, will a sofa have to break up the natural flow of the house just to see the TV? Will the kid's bedroom door hit into the closet door if the closet door is left open? Also think about the resale value. Will this floor plan help to sell your house or turn potential buyers away. All of this needs to be taken into consideration when analyzing floor plans.

Talk about all this with your agent or builder. Bring up all your concerns and make sure all questions are answered before deciding on a home or floor plan. Choose a floor plan or home that will enhance your families home life, and not because the hardwood floors where just finished.

Today's builder tip was brought to you by American Homesmith, one of Southwest Plantation's premiere builders.

Wacky Wednesday Listings!

Sometimes it is just plain funny!

Home Tour Tuesday: Woodcrest

The Woodcrest, built by American Homesmith, is built with luxury in mind but without the luxury price. The home features 3 bedrooms, 2-1/2 baths with an additional living room or study. Take a look for yourself and marvel at the beauty and wise use of space.



Woodcrest is available for presale in the Fairways section at Southwest Plantation. Click here: Neighborhood Map, and choose a lot to build your dream home on, The Woodcrest.






Call or send an email to schedule an appointment to tour your new community and see first hand where your dream home will be built. (910)346-1227, southwestplantation@gmail.com

For more floor plans available to you, view the Home Gallery page at SouthwestPlantation.com, Jacksonville, NC premiere all inclusive new construction community.

Mortgage Monday: Renting vs. Buying

Renting v. Buying

The cost of rent often times exceeds what a mortgage payment would be.

Paying $1,000 each month in rent? For that amount, you could purchase a home for around $150,000!

While homeownership costs rose about 37% in the last decade, rent costs rose 50%!

Don’t have money to put down? There are multiple programs that allow you to purchase a home with 100% financing.

Don’t know how long you will be in the area? Don’t let uncertainty stop you from owning a home! You may end up staying in the area longer than you think – wouldn’t it be nice to own a home then? If you don’t stay in the area for an extended amount of time, you have the option to sell or even rent your home out.

Credit issues? Many times people don’t know their scores, but assume they are much lower than they actually are. If your credit score isn’t quite where we need it, I can generally help you repair it so we can get you in a home!

Contact me for more information and to get pre-approved for a loan!

Danielle Hifko

Mortgage Consultant

New American Mortgage

Cell 910-581-6398

Welcome to Southwest Plantation!

Our NEW video of this beautiful residential new construction all-inclusive community in Jacksonville, NC is finally complete. I am sharing it with the world!

This community has so much to offer for everyone, take a look!

Breaking through VA loan misconceptions

A common misconception - How many times can you use your VA loan?

Your eligibility is reusable depending on the circumstances. Normally, if you have paid off your prior VA loan and disposed of the property, you can have your used eligibility restored for additional use. Also, on a one-time only basis, you may have your eligibility restored if your prior VA loan has been paid in full but you still own the property.

What is the difference between first time use and subsequent uses of your VA eligibility?

When using your VA eligibility for the first time, there is a 2.15% funding fee. Anytime the eligibility is used after that, you are charged a 3.30% funding fee. These funding fees are typically added to the loan amount so you do not have to pay it up front. By VA charging this funding fee, they do not charge any monthly mortgage insurance premium.

Is there a way around this? - Yes, if you receive at least 10% VA disability, you are exempt from the VA funding fee!

Mortgage Monday is provided by Danielle Hifko, Mortgage Consultant with New American Mortgage

Living your life for something more...

That is exactly what Faith Tanner is doing this summer. She is volunteering and giving back to communities in honor of her late husband.

Take a look at this video and see for yourself how one small idea can turn into something greater than you and me.

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Meet the Builders of 70 West Builders!

70 West Builders is a team of skilled home builders that operate out of Charleston, South Carolina, as well as Raleigh and Jacksonville, North Carolina.

They believe in tasteful design, solid construction and superior value. Finding the best home for you and your family can be a difficult decision, but 70 West Builders strive to create a high quality home that will make the process easier.

The creation of 70 West Builders is a result of the combined skills, talents, experiences and personalities of Allen Wells and Craig Smith. Together they offer what every potential homeowner ultimately wants - a quality product, affordable prices and trustworthy individuals who treat each person with the honesty, respect, and dignity he deserves.

70 West Builders is excited about developing homes in Jacksonville and they believe the most important thing you’ll build together is a strong relationship.

If you are interested in seeing first hand the amazing quality of a 70 West Builders home stop by our sales center, 444 Harris Creek Rd, Jacksonville, NC 28540 or give us a call to schedule an appointment (910)346-1227. *View 70 West Builders floor plans at www.SouthwestPlantation.com

Wacky Wednesday

This week I have taken on the adventure and challenge of bringing something new to the mix everyday, or every other. Each day of the week will have a different theme. For example Monday will now be known as Mortgage Monday, Tuesday is Home Tour Tuesday, etc.

To kick this off, I only saw it fit to do so with a laugh. In honor of our first ever 'Wacky Wednesday' here are some crazy golf bloopers and a funny real estate commercial. Enjoy and get a good laugh, you deserve it!

As always, we welcome all feedback, suggestions, etc. So if you have a funny video clip or story you would like to share in an upcoming edition of 'Wacky Wednesday' go ahead and submit to: southwestplantatoin@gmail.com

Enjoy the rest of your week!

4th Annual Cross Country Golf Luau, Big Success!

This last Saturday the pool house and pool at Southwest Plantation was a buzz for the 4th Annual Luau that followed the Bear Trail Golf Club Cross Country Golf Tournament.

This year fourteen teams participated in the golf tournament and most all homeowners came out to celebrate with traditional Luau spirit!

Congratulations to the winners:

1st Place - Rob Font, Tom Orr, Ed Kangas & Ryan Lanier

2nd Place - Kenny Flanagan, Ken Flanagan, Tom Flanagan & Dan Senton

3rd Place - Jason Blanding, Tyler Blanding, Courtland Blanding & Jaime Smith

It was a big success and we are already looking forward to next year to make it even bigger and better!

Reminder to keep your eyes open for all the upcoming community events!

August/September Social Calendar

If you have ever moved to a new community, city or country, you know that the most intimidating thing is finding what to do and where to go. You want to experience new things but still blend in with the locals.

Here at Southwest Plantation we are bridging the gap between locals and new residents. We have put together an exciting social calendar for our homeowners' & Bear Trail Golf Club members. Our calendar is always evolving. We welcome any suggestions that will improve the quality of life for our homeowners' & club members.

Take a look at the August/September Social Calendar!

August

Saturday, Aug. 13th - Cross Country Golf & Luau

-5:30pm Shotgun Start

-7:45pm Luau Start - Don't forget your LUAU ATTIRE!

(Sign-up & pay by Weds., Aug. 10th at Pro Shop. $25 for golf & luau, $10 luau only)

Friday, Aug. 19th - Anniversary/Birthday Celebration

- 7-8pm @ Clubhouse

-Join us in celebrating all August birthday's and anniversaries!

*Open to homeowners/members & guest

Saturday, Aug. 27th - Painting with Ellie McIntosh

-10am-1pm @ Clubhouse

- $10 per person

*Open to the public

September

Sunday, Sept. 11th - Tailgate Party

-Join us for the 1st Annual Tailgate Party

-Time TBA

*Open to homeowners/members & guest

Friday, Sept. 16th - Anniversary/Birthday Celebration

- 7-8pm @ Clubhouse

-Join us in celebrating all September birthday's & anniversaries!

*Open to homeowners/members & guest

Saturday, Sept. 17th - Painting & Cocktails with Ellie McIntosh

- 7-9pm @ Clubhouse

-$10 per person

*Open to public

Saturday, Sept. 24th & Sunday, Sept. 25th - Member/Guest Tournament

-More details to come

*Open to members & guest

If you have any suggestions of events to add to the social calendar please leave a comment here, at BearTrailGolf.com or on our facebook page.

Keep checking back for a calendar of events & festivals happening around the Jacksonville, NC area. If you are not a member of Bear Trail Golf Club or a homeowner at Southwest Plantation but would like to host an event at our Clubhouse by the pool please contact us here on our blog or send us an email: southwestplantation@gmail.com.

Enjoy the rest of your summer & we look forward to meeting you at the club house!

Introduction to Bear Trail Golf Club

QR Codes

As I was browsing through Twitter I noticed a tweet regarding QR Codes. Being the curious person I am, I just had to click on it to find out more.

For those of you who may not be familiar with QR Codes they are the newest thing to come to Jacksonville, NC. It is a bar code that has contact information, website addresses, a message, a comic, etc.

When someone with a smart phone takes a picture of this QR Code it reads the bar code and translate the "hidden" message, website, etc. and saves it to your smart phone.

I couldn't resist myself, I had to create one for Southwest Plantation, Home of Bear Trail Golf Club. Check it out!

Now that you have checked it out, what are your thoughts? Is this a useful tool or just something else for people to do that really won't make a difference? Will it help those relocating to Camp Lejeune or MCAS New River to find out more about the community and insight into the housing market? You be the judge.

All comments welcome!

This month in Real Estate July 2011

Clearing Up The Location Confusion

Southwest Plantation, Home of Bear Trail Golf Club is the best kept secret in Jacksonville, NC because of their mailing address.

Southwest Plantation and Bear Trail Golf Club both have Jacksonville, NC addresses. The lots themselves are recorded as Jacksonville, NC but since the Maple Hill US Postal Service has assumed mail delivery responsibilities the mailing addresses for each lot is Maple Hill. Confused yet? Homeowners within Southwest Plantation pay county taxes instead of city because they are not recognized as part of Jacksonville as a result of how the US Postal Service separated the mail service.

The lesson to take away, when searching for homes in Jacksonville on realtor.com or the many other home search websites, is to always include the surrounding areas. Because you never know what gem is sitting right on the line. Southwest Plantation is the perfect example of this. It is really in Jacksonville, just has a Maple Hill mailing address.

Welcome to the Nicholas!

The Bungalows is a serene neighborhood within Southwest Plantation, Home of Bear Trail Golf Club and is located across from the club house with views of the hole 1 and the tee of hole 2.

One of the homes that is move-in ready is the Nicholas floor plan. This home is also our model home so it features all the upgrades from hardwood throughout, granite and a large wrap around back patio accessible from the dining room and the master suite.

Check out the video and let us know what your thoughts are. We are sure you will love this floor plan as much as we do!

Give us a call to schedule your tour today! (910)346-1227 or visit www.SouthwestPlantation.com click on the Neighborhood Map and then on the Bungalows section to see what lots are still available!

The Pool Is OPEN!

School is out, graduations are done and the pool at Southwest Plantation Home of Bear Trail Golf Club is OPEN!

The pool is open from 10am-6pm everyday of the week for homeowners and the general public. Yes, I said the public. For $400 a year a non-resident of Southwest Plantation can buy a pool membership. Also, if a person is a member at the golf course for an additional $25 a month to their monthly membership fees they to can enjoy the pool!

Don't forget about swim lessons for your little ones either. Southwest Plantation is hard at work looking for a certified lifeguard to teach swimming lessons at our pool. The hours for swim lessons are 8:30am-10am Monday thru Thursday.

For more information contact the club house at: (910)346-8160

See you at the POOL!