The Stern Team: Stand Out in the Salt Lake City Real Estate Market With This Tool
Channel: The Stern Team | KW Salt Lake City Real Estate
Date: 2017-08-16

The Salt Lake City real estate market is incredibly competitive for homebuyers right now. Just last week, one of our listings received 33 offers! How can you make your offer stand out? Today, Mandi Henriod from Veritas Funding is here to discuss a new loan program that will give you a competitive edge. Basically, this program allows people to qualify for a conventional loan and includes similar advantages of an FHA loan. To learn more about this new tool, watch this short video. 

Learn more: http://sternteam.org/stand-out-in-the-salt-lake-city-real-estate-market-with-this-tool.html

ABOUT: 
Looking to buy, sell or invest in a home to live in Salt Lake? Joshua Stern and his team are here to ensure you have an excellent real estate experience. Built in 2002, The Stern Team continues to build our business based upon the same business philosophy we started with, “People don’t care how much we know, until they know how much we care”. With full time dedicated staff, and the “best of the best” agents, we know how to help our clients with their home selling, home buying or real estate investing goals. Ask us about our Worry Free Service Guarantee®, which puts our clients in the driver’s seat. No long term contracts or fear of obligation.

Whether you're downtown, uptown, metro or mountain, Josh’s unique V.I.P. Buyer System guarantees our clients access to properties that match exactly what they’re looking for, literally as they come on the market. Our property lists include homes from EVERY Salt Lake neighborhoods' Realtor and Brokerage. They also include bank owned homes, government owned homes, corporate foreclosures and our own very special PRELIST properties that are not even on the market yet.
Want to sell your Salt Lake City Home? Get a FREE Home Value Report:  http://www.viewsaltlakecityareahomes.com/homevalue/default

Want to buy a Salt Lake City Home? Search All Homes For Sale:  http://www.viewsaltlakecityareahomes.com/

Joshua Stern
The Stern Team
2121 S McClelland, St. #201 
Salt Lake City, UT 84106 
Phone: 801-859-7509
Fax: 801-326-8615

TRANSCRIPTION:
Today, Mandi Henriod from Veritas Funding is here to explain a great new tool for homebuyers. 

As you know, the Salt Lake City real estate market and the Wasatch Front market both favor sellers. Properties are going on the market and getting five, 10, 20, or even 33 offers. 

As a homebuyer, it can be very difficult to compete in that type of market. Luckily, there is a great new loan product available to help you. 

First, we need to explain the benefits of conventional loans vs. FHA loans. If you present an offer to a seller and you have an FHA loan, your loan puts a burden on the seller. The seller will have to do more work on the property in order to get to the closing table with your offer. Also, sellers generally regard FHA buyers as less strong than conventional buyers. 

However, the advantage of the FHA loan is that low down payment. When you combine the FHA loan program with Utah housing programs, you can get into a house for no money down. 

Luckily, Mandy has a tool that will help you get a conventional loan and pay even less money out of pocket for a home than you would with an FHA loan. 

This program allows you to get a conventional loan with a 3% down payment, which is half a percent lower than the FHA loan. The program also allows the lender to give you a 2% gift, which leaves you with a 1% down payment. 

The lender can give you $1,000 for every $100,000 spent, which may not seem like much but certainly helps you get into the home of your dreams. 

So, this program makes your offer look stronger because you have a conventional loan and you don’t have to put as much money down as you would with an FHA loan. Plus, you do not need to be a first-time homebuyer to qualify for this program, and there are no household income limitations. That is great news because income limitations are a big stumbling block for other low or no down payment programs 

If you have any more questions about this great Fannie Mae program, you can contact Mandi at 801.638.1005 As always, if you have any Salt Lake City real estate questions, just give me a call or send me an email. I would be happy to help you!