5 Reasons To Consider An FHA Mortgage

Since the early 1930s, the Federal Housing Administration has been providing federally-insured home financing to qualified borrowers. With its lower up-front costs, accommodating terms and forgiving credit requirements, the FHA loan is a popular choice for first time and low income buyers; however, you don’t necessarily have to have low income or poor credit to be approved. Review the following five reasons to consider an FHA loan to see if this home mortgage program might be right for you. 1. Less Money Up-Front FHA financing was first introduced in the midst of the Great Depression, as a way to make it easier for people to buy homes and stimulate the economy. One of the major ways in which it did this was by requiring less of a down payment when compared...

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What Can I Do For Holiday Fun Back Home Again In Indiana?

It’s December… soon the kiddos will be out for Christmas vacation…the family will be arriving to eat your food and sleep in your beds (I mean; dine with you and spend a quality few days with you!)… So what can we do for fun with them?! Indiana has so many offerings this time of year and we would like to pass along a few for your enjoyment.  We’ll start with the Kokomo area, some of which I’ve experienced first hand and enjoyed with my family: We Care Park:  Located at the corner of Gano & Lafountain Streets on the northside of Kokomo.  Open daily at dusk.  Free will donations accepted.  Display continues through Dec. 27. This display boasts more than 1 million lights!  You can either walk the pathways or drive...

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It’s Time to Fall Back! Tonight’s the Night!

It’s time to fall back one hour at 2:00 AM, Sunday, November 6th.  Most people choose to set their clocks back  before turning in for the night rather than getting up at 2AM to do so.   Just don’t be that guy that shows up to church or work an hour early!

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Kokomo Backs 60-Acre Soccer Complex

Sixty acres of the city, hidden from view and from time for decades, are about to become the site of a soccer revolution. City and Kokomo Soccer Club officials gathered Tuesday to unveil plans for a new Wildcat Creek Soccer Complex on Kokomo’s near west side. The complex, which is expected to be up and operating by August 2012, will be home to around 30 fields, accommodating all ages and levels of club soccer. “I believe with all my heart this will change how Kokomo looks at the sport, and it will do so much good for all the kids,” KSC president Amy Pitzer said. Currently based on a corner property owned by Haynes International, the soccer club has been looking to expand for some time. But it wasn’t until Kokomo Mayor Greg Goodnight started talking to the...

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Just A Reminder: USDA Will Change Fees Effective 10/1/11

There are two very important changes that are scheduled to take effect with loans obligated on or after October 1, 2011. The changes are: (1) A monthly mortgage insurance fee of 0.3 percent will be charged on all loans obligated on or after this date (2) The up-front guarantee fee for purchase loans transaction will decrease from 3.5 percent to 2 percent of the loan amount. Please note these changes are effective October 1, 2011. Currently the up front “guarantee” fee is 3.5% of the loan amount.  For example, on a $150,000 loan, the fee is $5,250 which is normally added to the final loan amount.  The new fee will be lowered to 2%, or $3000 in the above example. USDA will also begin to charge an annual fee  of 3% of the outstanding loan balance.  On a...

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Kokomo Home Sales See 11.8 Percent Increase In July

Real estate agents for the first time in 2011 sold more Howard County homes than they did a year before. Agents last month closed on 85 homes in the county. It was nine more, an 11.8 percent increase, compared to July 2010, according to a report the Indiana Association of Realtors released Monday. Nicki Whiteman, an associate broker for Re/Max Realty One in Kokomo, said recent turmoil on Wall Street and elsewhere in the economy did not appear to scare off buyers. Year-to-date sales for the firm have increased 21 percent over 2010. “We’ve done much better this summer,” Whiteman said. “Honestly, our July was a pretty hot month.” Countywide, sales for the whole year have remained lower than over the same seven months in 2010. There have been 532 sales since...

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