Real Estate Information

Courtesy of Plaza Mortgage

How Much Mortgage Can You Afford?
The Federal National Mortgage Association (Fannie Mae) is a government-sponsored organization that purchases mortgages from lenders and sells them to investors. Two income-to-debt ratios established by Fannie Mae are standard requirements for conventional mortgages. The first requirement is that monthly mortgage principal and interest payments (P&I), plus insurance and property taxes, cannot exceed 28% of the buyer's gross monthly income (some exceptions may apply to increase this limit to 33%). The second requirement limits total monthly debt payments (housing, credit cards, car payments, etc.) to 36% of gross monthly income (some exceptions may apply to increase this limit to 50% or higher in some loan scenarios). In addition to these requirements, you may have to pay 10% to 20% down on the total purchase price to qualify for a conventional mortgage.

These are just general guidelines and you should seek advice from a qualified professional. You can set up your own personal consultation with Beth Myers(Plaza Mortgage Services) directly from this website by going to" recommended  links", then click on Pre-QualifyforHomeLoanHere  then click on Free Consultation.

 You can also utilize resources for more qualifying and calculation resources.

Mortgage Rates and Minimum Incomes Needed to Qualify

                       
Interest Rate   Monthly Payment Minimum Annual Income  
6%      $570    $27,340
7%      $632    $30,338
8%      $697    $33,460
9%      $764    $36,691
10%     $834    $40,017
11%     $905    $43,426
12%     $977    $46,905

Mortgage companies use ratios to analyze your mortgage payment. The above example shows the monthly payments of principal and interest, and income needed to qualify for a $95,000 mortgage at various interest rates, amortized on a 30-year schedule, assuming a payment ratio of 25%.

Source: National Association of Home Builders, Economics Division.                     

Beth Myers
HMC
Plaza Mortgage Services
MAC M3416-011
6300 N Lucerne Avenue
Kansas City,  MO  64151
Work - (816)746-7335
FAX - 816-584-8973
Cell - 816-289-9645
Beth.D.Myers@wellsfargo.com

Put Your Own Financial House in Order
Before you go looking for a home, you should determine how much home you can afford. Most lenders will prequalify you to borrow up to a certain amount. Prequalification allows you to focus in on a realistic price range and makes you a more attractive buyer. Whether or not you want to prequalify, eventually you'll need to complete a loan application and it may take some time to gather and assemble the required information.

It's also a good idea to review your credit report for accuracy to ensure that all information is correct. If you have past credit problems, don't lose hope. Be prepared to present a rationale for each slipup, and demonstrate an improvement in your ability to pay bills on time

You can do this prequalification process right on our site, free of charge, by clicking on https://www.homeloans.com/wfhm/beth-myers/index.page

Beth Myers
HMC
Plaza Mortgage Services
MAC M3416-011
6300 N Lucerne Avenue
Kansas City,  MO  64151
Work - (816)746-7335
FAX - 816-584-8973
Cell - 816-289-9645
Beth.D.Myers@wellsfargo.com
https://www.homeloans.com/wfhm/beth-myers/index.page

Submitted by:  Ask Reggie

Submitted by:  Ask Reggie   "What can I do to help my home sell quickly and at a good price?" 

We've talked about first impressions, what the buyer sees from the curb and at the front door.  Now let's talk about the interior and what you need to do to keep that good first impression going.  In any market I always advise my sellers to make the home's interior as much like a brand new model home as possible.  Neat and clean are musts.  Windows, light fixtures, floors, walls, closets, basements, garages...all must be NEAT, CLEAN and TIDY.  Declutter.  Take down all those refrigerator magnets.  Put the bills and last month's mail away.  Clean off your office desk, keep the laundry off the floor and in a covered hamper.  Scrub everything until it shines.  If you have too much "stuff" rent a storage unit and load it up!  Enough stuff to do for today.  But there's more to come.  Stay posted!

By: Beth Myers Plaza Mortgage Services

Financing the American Dream
Buying a home is the biggest financial investment most of us will ever make. As with any large project or goal, it requires dealing with a variety of complex issues. The best approach is to divide the process into manageable tasks. Task 1.gather your records Task2. determine what you can afford Task 3. understand the many mortgage options/programs available.

Watch our site for the next six weeks for great advice on how to prepare for a home purchase from our own in house lending expert, Beth Myers of Plaza Mortgage.

You can prequalify right on our site, free of charge, by clicking on link below

https://www.homeloans.com/wfhm/beth-myers/index.page

Beth Myers
HMC
Plaza Mortgage Services
MAC M3416-011
6300 N Lucerne Avenue
Kansas City,  MO  64151
Work - (816)746-7335
FAX - 816-584-8973
Cell - 816-289-9645
Beth.D.Myers@wellsfargo.com

By Lenora (Gigi) De Tray

When my children were just starting school I didn't even think about their children and their children's children. As with all things, time flies and my first grandchild made his appearance.  I was so much in love with him; nothing will ever equal that feeling.  My next pleasure was a beautiful curly haired grandaughter.  Wonder of all wonders we were blessed with another handsome lad. I seemed  to take it all in stride, loving them all so very much.  At times they seemed like mine and they were going home with that young person that should still be home,going to school.

My number 1 grandson waited a while to marry and we thought perhaps he would be our own inhouse bachelor.

Then before I realized what was really happening I was made a great grandmother or (Gigi) as we decided I would be to him.

He is the most handsome,intelligent,well manored child I have ever known in my lifetime. He shines like a star. I have often said He is the candle that has lighted a dark corner of my heart.

Years ago as I watched my own two children grow up I never thought I would be so blessed with all this love and enjoyment. 

Submitted by:  Ask Reggie

"What can I do to help my home sell quickly and at a good price?" One of the first and best things to remember when putting your home on the market is that you don't EVER get a second chance to make a first impression.  With that in mind, go outside and look at your home from across the street.  Does the home look tired?  IF it does, get out the paint can.  Be sure to pick a body color and trim colors that are "in" today.  Find that out by visiting new model homes in your area.  What colors are the builders using?  Copy them.  Be certain the front door is clean and free of any debris such as twigs or branches, spider webs newspapers.  You probably use the garage door most of the time and don't even notice your front door.  Remember, when the realtor brings a client to your home he has to ring the bell and then, if you're not home, get the key from the lock box.  This takes time and allows the prospective buyer to really scrutinize your housekeeping.  The same goes for the lawn.  Keep it green and keep it mowed.  Keep all shrubs and bushes trimmed and be sure they don't overtake the house.  If they have overgrown and you can't trim them back enough, get rid of them.  Wash the windows and the exterior lights.  Doing these things will create great curb appeal.  And that's what you need to make a great first impression.

By Rob DeTray

            As a native of Kansas City I sometimes take my city for Granted and forget about all that it has to offer.  Recently I made my way to the City Market in downtown Kansas City.  As I drove around I spotted none other than The Original Antonio's Pizzeria & Walnut Deli.  Over the years I have driven by this Pizzeria but haven't stopped. Well it was time.  I entered Antonio's and found an old charm that seems to permeate old downtown KC.  From the Red Brick to the Wood Floor, which looks to be original, to the exposed duct work suspended from a loft type ceiling, the  building itself has created an ambience that says "come in and take a load off."   Time to order:   I sat down to one of the best meatball sandwiches on earth.  It was good.  It was served on a toasted hoagie bun with marianara & mozerella and is known as the TONY SOPRANO.  You know it has to be good.  Since I'm not a person who likes to make snap judgements I went back today  and had a slice of pepperoni pizza and a slice of sausage pizza. I was not disappointed. Absolutely delicious.  Check out The Original Antonio's Pizzeria & Walnut Deli next time you visit the City Market. They are located at 527 Walnut  K.C. MO 64106

Submitted by Bob De Tray

"Men's Fitness" magazine ranked Kansas City the 18th fattest city in America in 2005.  That was down from 14th in 2004.  Unfortunately, I found myself going against that trend in 2005 and it continued on in 2006.  As I get older, I think more and more about my health.  A big part of staying or getting healthy involves controlling my weight.  Gosh, I love to eat.  But that just can't happen like it did when I was 25. So I started a program of diet and exercise in May and lost 27 pounds in time to enjoy all the great things we did on our July vacation in Mexico.  Had to buy new swim trunks, the old ones wouldn't stay up. What a great feeling! Now I'm on maintenance to keep it off.  Who knows, maybe I'll help improve Kansas City's downward  and "inward " trend.