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Real Estate News Releases
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(EMAILWIRE.COM, May 22, 2011 ) DETROIT, MI – The Troy Refinance Specialist David Balagna teamed with Darrick Scruggs and was part of a town hall at Wayne County Community College (WCCC) on Thursday, May 19, 2011. Dave claims that home buyers have a unique opportunity that is created by the HomePath Mortgage and HomePath Renovation Mortgage programs.
HomePath Mortgage Program
Balagna is really excited about the HomePath Mortgage program.
he HomePath Mortgage program allows someone to borrow to be able to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Plus, expanded seller contributions to closing costs are allowed.
This program can be used to purchase primary residences, second homes and even investment properties.
HomePath Renovation Mortgage Program
The Troy Refinance Specialist gushes even more about the HomePath Renovation Mortgage program.
Why?
The HomePath Renovation Mortgage program allows a borrower to purchase a property requiring a light to moderate amount of renovation. This one loan covers BOTH the funds for the home purchase and for the home renovation. The renovation costs can be as much as 35% of the as completed value or $35,000, whichever is less.
So the house can be pretty distressed, but you can afford to buy and renovate it, still. This makes it easier to buy the home you really want for the price you truly can afford.
Just like the HomePath Mortgage program, the HomePath Renovation Mortgage program can be used to purchase primary residences, second homes and even investment properties.
At the event, both Balagna and Scruggs also answered questions and gave advice on which questions each buyer should be asking his or her mortgage broker before deciding to buy an investment home or the place where you will live.
Scruggs suggested that home buyers and real estate investors talk to a mortgage broker to gain key insight. He said that it is a good idea to find what mortgage brokers require to be able to help you obtain financing. They also know key down payment assistance programs.
Mortgage brokers also have a strong understand how home comparable values are determined. Their information can save a real estate investor from buying a bad investment property. Many investments become bad simply because the buyer overestimated how much they could charge to sell the property later.
David Balagna of MilMar Financial is a veteran of the mortgage and finance industry with nearly 20 years of experience. He has originated retail loans, established correspondent lines (for third party whole loan purchases) in the wholesale arena, and underwritten many pipeline streams.
David’s mission is to educate his clients in this ever-changing environment. “Every customer’s circumstances are unique, presenting varying layers of risk, variables and assessments to be considered for investor guideline evaluation. These considerations confirm the need to further educate the consumer which is made possible through a strong broker community.”
The Troy Refinance Specialist knows what it takes to help a buyer find the financing to buy that dream home. He can provide insight into how much properties cost in Troy can also provide help with nearby Rochester Hills refinance information, but he can also help with key Southfield refinance criteria. Basically, he knows and has access to important information to help you obtain financing in Oakland, Macomb, and Wayne counties.
For more tips and information about how David Balagna of MilMar Financial can help you, you can visit www.TroyRefinance.com or call (248) 247-8957.
MilMar Financial
David Balagna or Dante Rosa
(248) 247-8957
david@milmarfinancial.com 
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