Piggy Back Loans Make A Comeback In Arnold,MO.
It’s another aftereffect of the rise in housing prices: piggyback loans in Arnold, MO., are making a comeback. According to a recent American Bankers Associations Report, the number of piggyback loans originated across the nation more than doubled within the past year.
A piggyback loan involves taking out two mortgages simultaneously, with a home equity loan (aka “second mortgage”) ‘piggybacking’ on a first mortgage. In Arnold, MO., home purchases, piggyback loans typically come into play when the buyer is unable to provide a full 20% deposit. Normally this would necessitate the buyer having to take out private mortgage insurance (PMI), which can be pricey. By going with the piggyback loan alternative, the Loan to Value (LTV) ratio can be reduced to less than 80%, the threshold below which PMI requirements vanish.
A standard piggy back loan is structured as a “80-10-10”—meaning that 80% of the purchase price comes from the first mortgage, the next 10% from the second loan, and the final 10%, the deposit.
One major downside to piggybacking is cost. The interest rates charged on piggyback loans are significantly higher than those for first mortgages, so it may prove less expensive to pay for PMI for a short period of time. This is more likely in a rising Real Estate market, since the Loan to Value can shrink below 80% before long. Another problem can crop up when it comes time to refinance. In order to refinance, the second mortgage lender has to agree to remain in a subordinate position. This agreement (known as re-subordination) may, in some cases, be hard to reach. Lastly, homeowners with a piggyback loan are unlikely to be able to take out a third loan should they want to access their home equity. Nowadays, thirds are rarely granted.
Between 2000 and 2006, it made a lot of sense to take out a piggyback loan on a Real Estate purchase. The interest on piggyback loans was tax-deductible, while mortgage insurance premiums were not. When property prices were rising as sharply as they were between 2000 and 2006, lenders also considered piggyback loans a good bet because the growth provided ample equity ‘cushion.’ But when real estate prices dropped in 2007, piggyback loans fell out of favor. By 2010, the percentage of piggyback loans fell to just 1.7%.
Today, with house prices on the rise, lenders are again growing more comfortable granting Arnold, MO., piggyback loans—but with a bit more caution. Lenders usually ask for a FICO score of at least 700 and a debt-to-income ratio that’s below 43%. Increasingly, they want to see that a borrower has cash reserves in case of unforeseen circumstances.
If you are considering a piggyback loan in Arnold, MO., this spring, you will want to run the numbers to see if it’s the solution that makes the most sense. In some circumstances, it can be the best way to get into a home you can afford even though you can’t furnish a full 20% deposit. Call 314 845-3400 today to discuss how today’s Real Estate market meshes with your needs! Or visit us at Piggy Back Loans In Arnold,MO.
The Helderle Team 2014 © All Rights Reserved
Showing posts with label mo.. Show all posts
Showing posts with label mo.. Show all posts
Wednesday, April 02, 2014
Tuesday, January 20, 2009
Keeping Your Auto Winter Ready
Keeping Your Auto winter Ready
The H Team
Taking a few moments to check a few things can prevent being stranded or in need of a service truck.
Battery
Clean the battery with warm water. Remove the terminals and wire brush them and the battery posts with warm water and baking soda. Reattach the terminals and coat all exposed metal with petroleum jelly. You're not done yet–using some sort of household cleaner, clean all traces of dirt and oil from the battery's top and sides, particularly near the terminals. Traces of dirt can trap moisture, especially during damp winter days. This moisture acts as a conductor along a path that normally doesn't conduct electricity at all, and can leak enough current between the battery posts to prematurely drain your battery. In fact, consider replacing your battery if it's more than 4 years old. Newer cars tend to use smaller batteries to reduce weight and improve mileage, and, combined with high under hood temperatures, that spells an earlier demise than you may have gotten 10 to 15 years ago.
Light Bulbs
Check all light bulbs and replace any that aren't working. The days are short during the winter, and you'll depend on these bulbs for visibility a much larger proportion of the day. Check all turn signals, brake lights and headlights. It's also a good time to check your headlights alignment too.
Windshield wipers
Windshield Wipers are essential for winter driving, and after a summer of sunshine, the rubber squeegees are probably in sorry shape. Play it safe and replace them. Be sure the wiper arms and springs are in good shape, and that the blade is held square to the windshield surface. You may need to bend it slightly to keep everything square. Make sure your fluid level is full and that the washer solvent your using is safe for the low temps in your area.
Coolant
Check the date on the coolant. (Remember many new cars have extended drain intervals–but not permanent coolant. Read the owner's manual.) If it's due to be replaced, use a 50-50 mix of fresh coolant and water.
These few easy to follow tips can help reduce any problems with your automobile during the extreme cold of St. Louis winters.
Sunday, September 21, 2008
What Did It Sell For Week ending September 17, 2008
63011Ballwin, MO.
124 Coral Terrace, $135,500
1366 Marsh Av, $150,000
1104 Miremont Dr, $155,000
400 Wyncrest Dr, $180,000
407 Auber Dr, $210,000
16539 Oak Forest Ct, $220,000
63021 Balwwin, MO
1027 Rose Hill Ln, $110,000
1103 Pocono Trail #B, $117,000
701 Ridgeside Dr #D, $119,000
445 Rosedale Terrace, $130,000
1331 Parkview Estates Dr, $154,000
379 Novara Dr, $160,000
626 Dennison Dr, $171,850
808 Westbrooke Meadows Ct, $185,000
1011 Hollyleaf Ct, $190,000
620 Hickory Knoll Ct, $192,000
895 Totem Woods Ct, $194,500
224 Crowsnest Dr, $199,000
525 Vernal Hill Ct, $204,500
543 Oaktree Crossing Ct, $224,500
1926 Strawberry Ridge Dr, $229,000
1565 Glenn Brooke Woods Circle, $237,500
459 Talbert Ct, $238,500
1702 Carman Valley Rd, $273,000
1344 Richland Meadows Dr, $309,000
839 Mallard Woods Dr, $322,000
535 Coachgate Ct, $384,465
1822 Loehr Estates Ct, $426,000
931 Hanna Bend Ct, $470,561
63026 Fenton, MO
1427 Vadera Ct, $110,000
1946 San Miguel Ct, $155,000
2515 Dimus Dr, $169,500
1266 Green Falls Dr, $171,000
1313 Green Mist Dr, $184,000
1006 Oak Terrace Ct, $198,000
1600 Ivy Chase Ln, $280,500
1534 Flora Del Dr, $384,045
63088 Valley Park, MO.
1025 Big Bend Crossing Dr, $154,900
1057 Big Bend Station Dr, $238,000
15 Big Bend Station Ct, $266,000
St Louis County
63123
4825 Hamburg Av, $40,000
4744 Oldenburg Av, $41,000
8030 Genesta St, $95,000
8281 Morganford Rd, $101,200
10011 Echoridge Ln #D, $104,000
7232 Mackenzie Rd, $109,000
7728 General Sherman Ln, $120,000
11116 Marley Dr, $138,900
8952 Anchor Dr, $140,000
9838 Coventry Ln, $140,000
9842 Ione Ln, $145,000
5337 Staely Av, $150,000
10527 Sonata Dr, $154,900
7135 Valbrook Ln, $157,500
9625 Labette Dr, $166,500
7418 Brightwood Dr, $167,000
10082 Lakeshire Dr, $200,000
9803 Antonia Dr, $217,000
9863 Tiffany Square Parkway, $261,500
63125
9502 Gentry Av, $11,750
234 Morris Av, $32,000
3725 Viking Av, $46,801
617 Weiss Av, $100,000
2763 Clager Rd, $105,885
608 Bellsworth Dr, $113,000
3656 Anita Ln, $121,000
3321 Lan Dr, $129,000
905 Wachtel Av, $129,900
1239 Garden Circle Dr #G, $131,000
3301 Avenue H, $131,000
817 Rainbow Dr, $155,000
2854 Telegraph Rd, $206,000
63126
512 Acorn Dr, $157,500
9512 David Scott Dr, $242,500
9133 Rusticwood Trail, $245,000
63127
181 Floralea Place, $134,900
63128
5459 Cherryview Ln, $157,900
4843 Broad Oak Dr, $250,000
4607 Southridge Pines Dr, $255,000
4608 Southridge Pines Dr, $265,000
63129
452 Golden Valley Dr, $115,000
4100 E. Donaldson Dr, $150,000
3534 Pearson Pointe Ct, $165,000
5899 Westcliffe Dr, $193,000
4335 Meadowgreen Estates Dr, $204,900
5616 Wildbrook Dr, $213,000
106 Grimsley Station Rd, $215,000
2706 China Lake Dr, $231,000
7609 Shadybridge Dr, $241,100
Saint Louis City
63104
1014 Mississippi Av, $30,000
1802 Kennett Place #A, $76,250
2327 Tennessee Av, $96,001
2225-27 Sidney St, $97,500
2757 Shenandoah Av, $130,000
3315 Shenandoah Av, $132,601
3006 Victor St, $160,500
1859 S. 10th St #D, $185,000
1515 Lafayette Av #313, $195,000
1515 Lafayette Av #406, $238,000
1010 Russell Blvd, $240,000
1906 Lasalle St, $325,000
2339 Albion Place, $367,000
63109
5017 S. Kingshighway Blvd, $63,000
5616 S. Kingshighway Blvd, $67,900
6627 Tholozan Av, $98,000
7023 Mardel Av, $109,000
5616 Lansdowne Av, $147,900
5708 Finkman St, $148,000
5715 Nottingham Av, $150,000
4942 Delor St, $154,900
6962 Sutherland Av, $167,500
6721 Itaska St, $186,000
5709 Lindenwood Av, $189,000
6439 Lansdowne Av, $239,900
5239 Mardel Av, $246,000
3816 Linden Tree Ln, $269,520
6475 Devonshire Av, $285,000
6204 Clifton Av, $295,000
7028-32 Jamieson Av, $395,000
63110
4211 Arco Av, $69,001
5005-07 Shaw Blvd, $110,000
3926 Botanical Av, $115,000
4023 Botanical Av, $154,000
2118 Edwards St, $183,000
5009-11 Shaw Blvd, $190,000
2124 Marconi St, $210,000
4033 & 4035 McRee Av, $235,000
4060 Blaine Av, $244,899
3920 Blaine Av, $339,000
63111
7316 Michigan Av, $20,000
4614 Alaska Av, $21,500
621 Walsh St, $44,000
7103 Minnesota Av, $97,000
6318 Alaska Av, $115,000
4402 Pennsylvania Av, $156,766
4540 Ohio Av, $164,000
4642-44 Virginia Av, $185,000
5500 Idaho Av, $215,000
4307-09 S. Compton Av, $320,500
63116
4405 Gannett St, $12,000
4555 Adkins Av, $16,444
4762 Goethe Av, $37,000
3837 Fairview Av, $49,000
4846 Allemania St, $55,000
4046 Humphrey St, $56,900
4119 Hartford St, $59,900
4218 Grace Av, $75,000
4648 Newport Av, $75,000
3634 Neosho St, $76,315
4428 Dewey Av, $83,000
6462 Wanda Av, $85,000
7500 Jeanene Av, $108,800
4262 Juniata St, $109,750
4544 Eichelberger St, $119,500
4850 Germania St, $120,000
4143 Wyoming St, $123,700
3863 Meramec St, $140,000
4040 Miami St, $146,000
4041 Miami St, $147,000
4032 Louis St, $169,000
3809 Fairview Av, $178,000
3844 French Ct, $183,500
63118
3739 Oregon Av, $10,000
3504 Illinois Av, $17,000
3511 Wyoming St, $29,761
2206 Chippewa St, $30,000
3526 S. Compton Av, $33,000
3319 Cherokee St, $34,000
2722 Texas Av, $35,000
3553 Michigan Av, $37,000
3452 Illinois Av, $50,000
3620 Virginia Av, $50,884
3415 Klocke St, $71,000
2719 Lemp Av, $100,000
3133 Oregon Av, $123,500
3735 Louisiana Av, $133,000
3816 Illinois Av, $150,000
2623 Virginia Av, $171,500
3505 Utah St, $208,000
2800 Texas Av, $230,500
3451 Halliday Av, $440,000
63119 Includes Webster Groves, MO.
11 Eldorado Ct, $50,000
324 Eldridge Av, $64,000
734 Yeatman Av, $110,000
321 Madison Av, $126,000
7515 Triwoods Dr #C, $133,000
1415 Cheshire Ln, $135,000
5122 Exeter Av, $155,000
1028 N. Bompart Av, $185,500
9908 Gilbrook Av, $196,000
7318 Whitehall Colonial Ln, $209,900
115 Baker Av, $215,000
529 Newport Av, $248,000
471 Toft Ln, $314,900
7500 Lansdowne Av, $315,000
104 W. Jackson Rd, $560,000
320 S. Gore Av, $612,500
Contact The H Team today to learn what houses in your area sold for.
The H team currently serves the areas South of Highway 40 but able to refer a qualified agent to you in any area of the country.
124 Coral Terrace, $135,500
1366 Marsh Av, $150,000
1104 Miremont Dr, $155,000
400 Wyncrest Dr, $180,000
407 Auber Dr, $210,000
16539 Oak Forest Ct, $220,000
63021 Balwwin, MO
1027 Rose Hill Ln, $110,000
1103 Pocono Trail #B, $117,000
701 Ridgeside Dr #D, $119,000
445 Rosedale Terrace, $130,000
1331 Parkview Estates Dr, $154,000
379 Novara Dr, $160,000
626 Dennison Dr, $171,850
808 Westbrooke Meadows Ct, $185,000
1011 Hollyleaf Ct, $190,000
620 Hickory Knoll Ct, $192,000
895 Totem Woods Ct, $194,500
224 Crowsnest Dr, $199,000
525 Vernal Hill Ct, $204,500
543 Oaktree Crossing Ct, $224,500
1926 Strawberry Ridge Dr, $229,000
1565 Glenn Brooke Woods Circle, $237,500
459 Talbert Ct, $238,500
1702 Carman Valley Rd, $273,000
1344 Richland Meadows Dr, $309,000
839 Mallard Woods Dr, $322,000
535 Coachgate Ct, $384,465
1822 Loehr Estates Ct, $426,000
931 Hanna Bend Ct, $470,561
63026 Fenton, MO
1427 Vadera Ct, $110,000
1946 San Miguel Ct, $155,000
2515 Dimus Dr, $169,500
1266 Green Falls Dr, $171,000
1313 Green Mist Dr, $184,000
1006 Oak Terrace Ct, $198,000
1600 Ivy Chase Ln, $280,500
1534 Flora Del Dr, $384,045
63088 Valley Park, MO.
1025 Big Bend Crossing Dr, $154,900
1057 Big Bend Station Dr, $238,000
15 Big Bend Station Ct, $266,000
St Louis County
63123
4825 Hamburg Av, $40,000
4744 Oldenburg Av, $41,000
8030 Genesta St, $95,000
8281 Morganford Rd, $101,200
10011 Echoridge Ln #D, $104,000
7232 Mackenzie Rd, $109,000
7728 General Sherman Ln, $120,000
11116 Marley Dr, $138,900
8952 Anchor Dr, $140,000
9838 Coventry Ln, $140,000
9842 Ione Ln, $145,000
5337 Staely Av, $150,000
10527 Sonata Dr, $154,900
7135 Valbrook Ln, $157,500
9625 Labette Dr, $166,500
7418 Brightwood Dr, $167,000
10082 Lakeshire Dr, $200,000
9803 Antonia Dr, $217,000
9863 Tiffany Square Parkway, $261,500
63125
9502 Gentry Av, $11,750
234 Morris Av, $32,000
3725 Viking Av, $46,801
617 Weiss Av, $100,000
2763 Clager Rd, $105,885
608 Bellsworth Dr, $113,000
3656 Anita Ln, $121,000
3321 Lan Dr, $129,000
905 Wachtel Av, $129,900
1239 Garden Circle Dr #G, $131,000
3301 Avenue H, $131,000
817 Rainbow Dr, $155,000
2854 Telegraph Rd, $206,000
63126
512 Acorn Dr, $157,500
9512 David Scott Dr, $242,500
9133 Rusticwood Trail, $245,000
63127
181 Floralea Place, $134,900
63128
5459 Cherryview Ln, $157,900
4843 Broad Oak Dr, $250,000
4607 Southridge Pines Dr, $255,000
4608 Southridge Pines Dr, $265,000
63129
452 Golden Valley Dr, $115,000
4100 E. Donaldson Dr, $150,000
3534 Pearson Pointe Ct, $165,000
5899 Westcliffe Dr, $193,000
4335 Meadowgreen Estates Dr, $204,900
5616 Wildbrook Dr, $213,000
106 Grimsley Station Rd, $215,000
2706 China Lake Dr, $231,000
7609 Shadybridge Dr, $241,100
Saint Louis City
63104
1014 Mississippi Av, $30,000
1802 Kennett Place #A, $76,250
2327 Tennessee Av, $96,001
2225-27 Sidney St, $97,500
2757 Shenandoah Av, $130,000
3315 Shenandoah Av, $132,601
3006 Victor St, $160,500
1859 S. 10th St #D, $185,000
1515 Lafayette Av #313, $195,000
1515 Lafayette Av #406, $238,000
1010 Russell Blvd, $240,000
1906 Lasalle St, $325,000
2339 Albion Place, $367,000
63109
5017 S. Kingshighway Blvd, $63,000
5616 S. Kingshighway Blvd, $67,900
6627 Tholozan Av, $98,000
7023 Mardel Av, $109,000
5616 Lansdowne Av, $147,900
5708 Finkman St, $148,000
5715 Nottingham Av, $150,000
4942 Delor St, $154,900
6962 Sutherland Av, $167,500
6721 Itaska St, $186,000
5709 Lindenwood Av, $189,000
6439 Lansdowne Av, $239,900
5239 Mardel Av, $246,000
3816 Linden Tree Ln, $269,520
6475 Devonshire Av, $285,000
6204 Clifton Av, $295,000
7028-32 Jamieson Av, $395,000
63110
4211 Arco Av, $69,001
5005-07 Shaw Blvd, $110,000
3926 Botanical Av, $115,000
4023 Botanical Av, $154,000
2118 Edwards St, $183,000
5009-11 Shaw Blvd, $190,000
2124 Marconi St, $210,000
4033 & 4035 McRee Av, $235,000
4060 Blaine Av, $244,899
3920 Blaine Av, $339,000
63111
7316 Michigan Av, $20,000
4614 Alaska Av, $21,500
621 Walsh St, $44,000
7103 Minnesota Av, $97,000
6318 Alaska Av, $115,000
4402 Pennsylvania Av, $156,766
4540 Ohio Av, $164,000
4642-44 Virginia Av, $185,000
5500 Idaho Av, $215,000
4307-09 S. Compton Av, $320,500
63116
4405 Gannett St, $12,000
4555 Adkins Av, $16,444
4762 Goethe Av, $37,000
3837 Fairview Av, $49,000
4846 Allemania St, $55,000
4046 Humphrey St, $56,900
4119 Hartford St, $59,900
4218 Grace Av, $75,000
4648 Newport Av, $75,000
3634 Neosho St, $76,315
4428 Dewey Av, $83,000
6462 Wanda Av, $85,000
7500 Jeanene Av, $108,800
4262 Juniata St, $109,750
4544 Eichelberger St, $119,500
4850 Germania St, $120,000
4143 Wyoming St, $123,700
3863 Meramec St, $140,000
4040 Miami St, $146,000
4041 Miami St, $147,000
4032 Louis St, $169,000
3809 Fairview Av, $178,000
3844 French Ct, $183,500
63118
3739 Oregon Av, $10,000
3504 Illinois Av, $17,000
3511 Wyoming St, $29,761
2206 Chippewa St, $30,000
3526 S. Compton Av, $33,000
3319 Cherokee St, $34,000
2722 Texas Av, $35,000
3553 Michigan Av, $37,000
3452 Illinois Av, $50,000
3620 Virginia Av, $50,884
3415 Klocke St, $71,000
2719 Lemp Av, $100,000
3133 Oregon Av, $123,500
3735 Louisiana Av, $133,000
3816 Illinois Av, $150,000
2623 Virginia Av, $171,500
3505 Utah St, $208,000
2800 Texas Av, $230,500
3451 Halliday Av, $440,000
63119 Includes Webster Groves, MO.
11 Eldorado Ct, $50,000
324 Eldridge Av, $64,000
734 Yeatman Av, $110,000
321 Madison Av, $126,000
7515 Triwoods Dr #C, $133,000
1415 Cheshire Ln, $135,000
5122 Exeter Av, $155,000
1028 N. Bompart Av, $185,500
9908 Gilbrook Av, $196,000
7318 Whitehall Colonial Ln, $209,900
115 Baker Av, $215,000
529 Newport Av, $248,000
471 Toft Ln, $314,900
7500 Lansdowne Av, $315,000
104 W. Jackson Rd, $560,000
320 S. Gore Av, $612,500
Contact The H Team today to learn what houses in your area sold for.
The H team currently serves the areas South of Highway 40 but able to refer a qualified agent to you in any area of the country.
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