New Hampshire and Maine Homes and Condos

  Portsmouth New Hampshire Homebuyers - Great FHA Mortgages!!

If you're a homebuyer in the Portsmouth New Hampshire real estate market, a whole new option has now opened up for you with the recent increase in the FHA loan limits.

I wrote a post a few days ago annoucing the increases for the New Hampshire Seacoast areas of Rockingham County and Strafford County. If you missed it - check out this post for the loan limits in various housing categories --- >> Portsmouth NH Real Estate - Great News on New FHA Loan Limits!!

FHA is a little more forgiving when it comes to a person's credit history.

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New Hampshire Bank-Owned Real Estate For Sale

I wrote a post a little while back about buying bank-owned properties and the potential issues surrounding the purchases of bank-owned properties. All are sold in 'as-is' condition, but 'as-is' can mean different things to different banks who own those properties. And the majority of those bank-owned properties are typically in less-than-desireable condition most of the time. Some look as though the owner took really good care of the property, and others look as though they were beat up really badly by the previous owners.


Potential buyers of bank-owned homes and condos really need to have their eyes wide-open when looking at buying real estate in these situations. Sure, you can get some really great deals, but those deals don't come easily and/or without their problems. Be sure to check out the link I mentioned above for some of the issues to keep in mind when thinking about purchasing bank-owned real estate.



Make sure to have your inspections as part of your offer to purchase, or if the bank that owns that property won't let you make it subject to inspections, have them done before making your offer. The other thing you must be mindful of is that not all banks and mortgage companies are going to be too quick to lend money on a bank-owned property. Before submitting an offer to purchase on bank-owned homes or condos, make sure your lender or loan officer gives you the okay to do proceed knowing the property is bank-owned.

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Are you thinking about buying a home or condo or multi-family in the Portsmouth New Hampshire areas? 

If so, then the newly released increases in the FHA mortgage amounts may be of particular interest to you!  Check the Rockingham County and Strafford County loan limits in the chart below (the yellow highligted rows) - those are some very nice increases for this area for maximum mortgage amounts.

  

The chart below shows the loan limits for those mortgages that close on or after March 17, 2008.  This is good news for buyers and sellers as there is now an option for those needing lower down payments for prices that were above the existing FHA mortgage loan limits.

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Portsmouth New Hampshire REALTOR

Buyers and sellers of Portsmouth New Hampshire real estate certainly have plenty of choices for REALTORS in this area.  And I know most of them spend quite a bit of time trying to figure out just how to find and hire the right agent for them.

 

Here are some tips to help you when looking for a professional REALTOR to help with your buying and/or selling needs.  Look for the following characteristics and traits:

• Full-time professional dedicated to their profession;
• Familiar with the area(s) you're looking to buy or sell real estate in;
• Works with you and listens to you to find out just what your needs are;
• Works with you to successfully get the job done;
• Knowledgeable about the skill-set needed to help you achieve your real estate goals efficiently and effectively;
• Trustworthy, experienced, and confident about getting the job done for you;
• References from previous seller and/or buyer clients.

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