Interest rates at record lows.......the "Bottom" is here!

Seller paying closing costs

Seller paid closing costs...?


I get this question a lot..."How much can the seller pay towards the buyer's closing costs?"

Don't assume 3% of the purchase price is the rule. There are basically 4 mortgages now for residential home purchases and each has its own rule. The maximum amount that a seller may pay towards the buyer's closing costs, pre-paid items and reserves is as follows:
1. Fannie Mae/Freddie Mac (Conventional):
> 90% financing = 3% of the sales price.
>75% & < 90% financing CLTV = 6% of the sales price.
<75% CLTV = 9% of the sales price.
2. FHA = 6% of the sales price.
3. VA = 4% of the sales price.
4. USDA Rural Housing = 6% of the sales price.

I hope this information is beneficial to you. Call or email me anytime.

Andrew Evans: Hanover Mortgage
Cell: (864) 313-0602
Email: aevans@hanovermtg.com

History of Lake Keowee in South Carolina

Storms, Boating, Lake Keowee

WOW!!!! We sure had some storms in our area late yesterday! We were on the lake during the whole thing and lightening was all around us in the distance. We even thought we saw a TORNADO! We arrived home safely just before dark without one drop of rain falling on us :-/

We were very lucky and it just doesn't pay to take chances. Make sure you either have a weather radio or an "app" on your cell phone to keep up with the weather radar patterns. This way you'll know where the storm is and where its headed! Also, Make sure you have a light weight jacket with you on your boat at all times. I sure was chilly on the FAST ride home!

Lake Keowee Buyer Agent Services

I wanted to let everyone know that I work strictly as a Buyer's Agent and I am an Accredited Buyer Representative and would be able to provide you with much needed advice and representation when purchasing Lake Front Real Estate. There are a lot of things specific only to Lake Property that only experts, like myself, can help you with. There is no additional cost to you to have me represent you as a Buyer's Agent. I am also licensed in Georgia and South Carolina. I am very patient and knowledgeable about this area as well as Lake Hartwell, Lake Keowee, Anderson, Seneca, Clemson, Greenville & Easley. I would love to help you any way I can.

   I've been Boating the Upstate Lakes since childhood and know my way around very well. Please don't hesitate to call me with any questions or to set up a time for me to show you any properties. I look forward to hearing from you and helping you with your search. This is a great time to purchase a home for many reasons: Large inventory, Motivated Sellers & Low interest rates to name a few. With that being said, the banks are very strict with their lending right now. As a first step in the buying process I recommend that everyone get pre-qualified. It helps a great deal to have a pre-qualification letter when presenting an offer and in many cases, it’s required these days (especially when purchasing bank owned & short sale properties). GIVE US A CALL & we'll be happy to refer you to some great lenders/ bankers.  By the way, there are some fantastic SHORT SALE & BANK OWNED PROPERTIES currently available. Let me know when you might have the time to come look at some of them. CALL TODAY: ASK FOR GARY SMITH, ABR- BUYER SPECIALIST 866.BIG.VIEW (866.244.8439)
 

The Cliff's Lake Keowee Real Estate

Please visit the link below to find all of the treasures The Cliff's Communities have to offer you!
Parker Quigley: Broker Associate ReMax Foothills "The Cliff's"

MEMORIAL DAY 2010!

On this special day please remember our fallen soldiers and all of the brave Americans who are currently serving our country as well as all of those who have served us in the past. We are ALL very lucky to be Americans and should thank GOD and our veterans every day for allowing us to live in "The Land of the Free & The Home of the Brave!"