Richard's Video Blog Library

December 02, 2011 - Energy Efficient Mortgages for FHA and VA Borrowers

Energy Efficient Mortgage (EEM)

Envoy Mortgage is proud to be the 2010 Green Orginator of the Year.  We work hard to protect and preserve or enviroment.  We are also proud to be one of the few national lenders to orginate Energy Efficent Mortgages. 

You can take out an EEM loan as a 15- or 30-year fixed-rate mortgage or as an Adjustable Rate Mortgage (ARM). FHA requires that you make at least a 3.5 percent cash investment on the property, based on the sale price. The total amount of your mortgage is based on the value of your home plus the projected cost of energy-efficient improvements. Because your home will be more energy efficient, you will save on utility costs and, therefore, be able to devote more income to the monthly mortgage payment. Your final loan amount can exceed the maximum FHA mortgage limit by the amount of the energy-efficient improvements. In Dallas Fort Worth and all of Texas the FHA mortgage limit is $271,000.  To find FHA mortgage limits in your area, visit the HUD website at www.hud.gov

A Home Energy Rating System provider or energy consultant will complete a measurement of your home’s energy efficiency and provide a report listing recommended cost efficient energy improvements and an estimated cost of the energy improvements and estimated energy savings to you and your lender. Envoy Mortgage will order a HERS Rating for your home during the home mortgage process.  You may finance the cost of the energy inspection report as part of the mortgage if the entire package, including these fees, is cost effective. The amount of the energy efficient improvements is placed in an escrow account and released after an inspection verifies that the improvements are installed and the energy savings will be achieved. You can begin making energy improvements after the loan’s closing. You are responsible for hiring contractors and getting bids for the work to be done on your home. The work must be completed within 90 days after closing.

Estimated mortgage payments are based upon principle and interest only, and do not include taxes and insurance. Value indicated here is for comparison only, and will vary from home to home. Many homes qualify for energy upgrades. With the EEM, lenders recognize the savings the upgrades will bring. Borrowers may use these potential savings like extra cash, and add the cost of upgrades into the mortgage, paying them off easily as part of the monthly mortgage payment. Once the upgrades are installed the potential savings turn into real savings.

You may finance into your mortgage the cost of the energy-efficient improvements determined to be "cost effective," which means that the total cost of the improvements, including any maintenance costs, is less than the total present value of the energy saved over the useful life of the energy improvement. The maximum cost of improvements that you can add to the mortgage is either 5 percent of the property’s value (not to exceed $8,000) or $4,000, whichever is greater based on the value of your property. For example, if your property’s value is $75,000, the maximum cost of improvements allowed is $4,000 because this is greater than 5 percent of the property value. If your property’s value is $100,000, the maximum amount of improvements allowed is $5,000 because this is 5 percent of the property’s value, greater than $4,000 but less than $8,000. Finally, if your property’s value is $160,000, the maximum cost of improvements allowed is $8,000, which is 5 percent of the property value and the maximum allowed overall. Examples of improvements that are made under an EEM loan:

November 18, 2011 - USDA Program Makes "Rural" Homes More Accessible

USDA Program Makes "Rural" Homes More Accessible

One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home loans.

Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that you have to buy farmland or live "in the country" to qualify, but this is often not the case. In fact, you might be surprised to see just how many neighborhoods actually do qualify as rural development areas. For this program, the term "rural" really applies to those areas with a lower population or fewer homes, not necessarily those areas and neighborhoods far outside of the city.

Resource Websites:

To find out more about USDA loans, give us a call. We can have an answer as to whether you qualify for this program in just a few minutes. Click here to apply now!

August 16, 2011 - Marketing your listings for buyer leads Using Text Call Capture

Marketing your listings for buyer leads

Watch the video below which shows you how to easily pick up buyers using Text Call Capture   Text Messaging with Call Capture is an innovative way to deliver property information to potential buyers and receive prospective leads 24 hours a day, 7 days a week. Real Estate Text Messaging enables buyers to receive what they need-instant information, while giving agents what they want-more leads.   With Text Message Marketing, each property is assigned a text number that can be displayed on a sign rider. Prospective buyers can text for more property information right from their car, and all of the data including the mobile website is text'd right back to their mobile phone in an instant!   Most importantly, Text Messaging with Call Capture instantly sends the listing agent the phone number of the prospect, generating valuable leads and creating more opportunities to make a sale.  Why Use our Text Messaging with Call Capture? If you want to be a 24/7 marketing machine, Envoy-Mtg.com  provides a lead generation platform for Realtors that is unmatched. There is no need to spend time and money printing brochures. Go Green with our Text Message Marketing Campaign and buyers will never find themselves reaching into an empty flyer box again.   With our Text Message Advertising feature, a Mobile Phone Website is automatically created for every listing in our system. Each property listing is assigned a Property ID Number that consumers can easily text to receive more information. The Property ID Numbers are even customizable so that you can make them as memorable as possible. If you need help, please call me.  I am a dedicated partner to your success!    To Open a Free Partner Marketing Account Click Here.

Click on the image below to watch the full video

August 08, 2011 - How To Get 4 Referrals From Each Sold Home

I want to introduce you to the best way to market yourself when you have sold a home.    This exclusive tool allows you to provide to your buyers an electronic post card that they can email to everyone they know.   

Imagine, your contact information provided to everyone your buyer knows, potentially hundreds of possible referrals.   Most buyers are excited and proud of their new home so they will enthusiastically promote you as they show off their new home.   

Here is an example of the post card  http://thesmiths.epropertymove.com/

I work hard to provide You, our Realtor Partners with tools for success.  Contact me now to get set up for free.

August 03, 2011 - Marketing your listings on craiglist

Marketing Your Listings Using Craigslist

December 31, 2010 - Step 4-Dispute, Negotiate or Wait of Credit restoration

Dispute, negotiate or wait-these are the action steps you can take when it comes to cleaning up your credit. This can seem like a hefty task and since I realize that credit repair is not your full-time job, I thought I'd help simplify things for you and share a valuable tip.

In this video clip, you will learn exactly where to start, whether you decide to open a dispute, negotiate or wait. Watch to learn some basic tips on the commitment involved in opening a dispute, some important resources that will educate you on the ins and outs of credit negotiation, and why waiting will cost you in the long-run.

Call me directly at 972-661-5136 or go to my website to learn more.  www.mortgageprosus.com/ImproveYourCreditScore

Richard Woodward

Branch Manager

November 11, 2010 - Credit Monitoring Step 3-Creating Your Take Action Plan Checklist

Hopefully by now, you have obtained a copy of your credit report and you're ready to take action. I can recall going through my first credit report-I didn't even know where to start!

Knowing how confusing the layout of a credit report can be, I wanted to share a tip with you, on how the three bureaus, Equifax, Transunion and Experian list your information on their report. It might seem like Greek to you at first, but by the end of this video tip, you should feel comfortable enough to go through each trade line with a fine tooth comb and pick out any items that might be negatively affecting your credit score.

In less than ten minutes, you will learn how to create your BIG SCORE Take Action Plan (TAP) Check List , so that you can be on your way to an improved credit situation.

September 03, 2010 - Step 2-Get a Complete Picture of Your Current Credit Situation

You've seen the multitude of ads, commercials, and I'm sure you've even been barraged with mailers too, that say "Call today for your free credit report." But how do you know which, if any, are legit?

As a consumer myself, I often find all the advertisements to be overwhelming and that is why today, I want to share a quick tip with you on the three reputable means to obtain your own copy of your credit report. Watch to learn why pulling your own credit is a MUST and what key things to what to watch out for when ordering your report.

Don't live in fear of what might be on your credit report-take action and get a complete picture of your credit situation so that you can have financial freedom!

For additional resources and free help with credit restoration visit my website or feel free to call me.

August 24, 2010 - Credit Restoration - Your steps to success

I'm sure it's no surprise to you that today's economy has produced a hostile credit environment, and credit has become a major concern for all consumers. This is why I am even more committed to helping you take control of your financial future, so that not only do you qualify for the lowest possible home loan interest rate, but you are also in position of financial freedom at all times-when financing a car, shopping for insurance, applying for a job, and so on. With this in mind, I am sending you a quick tip on how to take action so YOU can have control of your overall financial health.

Tune in to this quick video segment and in less than ten minutes, you will learn how to set a realistic score goal, how long it might take to reach your score goal, what a good score is considered to be and how having a good score can save you thousands of dollars.

May 18, 2010 - A Simple Sales Tip - What This Means to You Is...

Many times we get caught up in the whole features and benefits technique of selling and we forget to relate those things to our clients. I hope you enjoy this short video that helped me put them into perspective.

Try it and Happy Selling. Richard

February 26, 2010 - 5 Tips to Raise Your Credit Score Fast

February 17, 2010 - Help Your Child Buy a Home or Get Help From your Parents

With housing prices near or at the bottom in many areas, now may be a great time to help your child, or ask your parents to help, purchase their first home. Watch as Pat Esswein of Kiplinger.com explains how that might be accomplished.

As a direct lender, I can help you are your friends and relative with all your home finance needs.  I am here to help and look forward to working with you again.

Thanks so much;

Richard