Who is the best lender for Nome/Kotzebue?

Wow, that’s a loaded question! I work with several FANTASTIC lenders who can really make a difference in the general flow and lessen the stress level for a home purchase; on the other hand I have worked with some lenders who I would never refer to anyone!

Look for a loan officer who is familiar with bush Alaska. The lender in California is not going to understand why an appraisal can take up to a month. In fact, some lenders in Anchorage have a hard time understanding the logistics of living where we do.

Look for a loan officer who is experienced.  Someone who has many years of processing loans will know what red flags could slow the transaction down.  Someone with experience is also going to be more aware of the loan options that are available to you.

Look for a loan officer who has a team/assistants.  When you have a question about your loan, or need to be reminded that you are missing a piece of documentation, a lending agent who has help is typically better able to be much more responsive to the transaction.

Remember, there’s a lot that happens behind the scenes in a real estate transaction. It’s not just get approved, find a house, move in.  There are several factors that make the difference between a smooth transaction and one that grinds your soul to dust!


How to build repair costs into the home loan

When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work.

It’s a great program, especially when the home you are wanting to buy is not eligible for ‘regular’ financing due to repairs or missing elements (like a septic system)

Email me at melissa@nomesweethomes.com if you would like the names of the 3 lenders in Alaska who are qualified to process these types of loans or have general questions about the program.

 


503 D Street – In town, but you can’t tell by the view!

http://503wdstreet.nomesweethomes.com     

3br/2ba, with a full basement. This home has spectacular views, a wide open living area with wrap around windows, separate but open dining room, partially finished basement, Master Suite with private full bath, English Garden landscaping and much, much more!!!   This home is well maintained and ready to move in!


Google Ranked!

I just did a Google search for Nome Alaska and Nome Sweet Homes showed up on the first page!

While Nome Announce is a great marketing tool, not everyone in town subscribes to it. That means if you want maximum exposure when selling your house (translate that into selling quickly and for the best price) list it with Nome’s top brokerage!

A consultation is free, give me a call!


Ice Ice baby!

I finally had a chance to watch the new Bering Sea – Under the Ice show. I was pretty tickled to see that there were some local Nome folks on the show.

I hope there is more focus on the real people of Nome and less attention to the ridiculous fiascos of the Reidell’s and that horrid Meisterhiemer character!

A big wave to Ricky, Joe and Jacob!


REDUCED! 503 D Street

http://503wdstreet.nomesweethomes.com     

3br/2ba, with a full basement. This home has spectacular views, a wide open living area with wrap around windows, separate but open dining room, partially finished basement, Master Suite with private full bath, English Garden landscaping and much, much more!!!   This home is well maintained and ready to move in!


Nome Sweet Homes is now serving Kotzebue

Nicole Stoops has just joined the NSH team, expanding our service area to include the Kotzebue region!