THDA 30 Year Fixed

Great Choice First Mortgage:  3.99% / 1 + .250 / 5.71% APR 

 Great Choice Second Mortgage:  0%, 15 year term--NO PAYMENTS; FORGIVEN AFTER 15 YRS

(offers 4% of sales price in Down Payment Assistance)   

  

THDA Homeownership for the Brave (for our VETS)

FHA OPTION:  Great Choice First Mortgage:  3.49% / 1 + .250 / 5.20% APR 

VA OPTION: Great Choice First Mortgage:  3.49%  / 1 + .250 / 3.92% APR

Great Choice Second Mortgage:  0%, 15 year term--NO PAYMENTS; FORGIVEN AFTER 15 YRS

(offers 4% of sales price in Down Payment Assistance)

 

**FYI: THDA waives the first time homebuyer requirement for Veterans.

Qualified Vets get a 1/2% interest rate reduction! 

(some restrictions apply) 

 

Conventional 30 Year Fixed 

3.625% / 0 + 0 / 4.41% APR

3.5% / 0 + 1 / 4.36% APR

 

ASK ABOUT OUR LENDER CREDIT ON ALL LOANS

 

Conventional 15 Year Fixed

2.875% / 0 + 0 / 3.03% APR

2.75% / 0 + .75 / 3.02% APR

 

Conventional 5/1 ARM

3.0% / 0 + 1 / 3.06% APR with CAPS 2/2/5

 

JUMBO

For loans over $417,000.00 please call for a quote.  

  

FHA/VA 30 Year Fixed

3.25% / 0 + 0 / 4.81% APR

*ASK ABOUT LENDER CREDIT!*

 

FHA 15 Year Fixed

2.75% / 0 + 0 / 3.85% APR

  

Rural Housing 30 Year Fixed

NOW AVAILABLE FOR ALL OF WILSON COUNTY

3.625% / 0 + 0 / 4.53% APR

  

Reverse Mortgages 

Available to clients over 62 years of age, no credit qualifying

 

All rates quoted are for purchases, large loans, can vary under individual circumstances, and are subject to change without notice.  Also note, Rates & PMI rates when applicable will vary with credit score.  For Conventional loans, assume 20% down payment. 

DRONES IN COMMUNITY ASSOCIATIONS

Written by Benny L. Kass  

 

Drones -- also known as "unmanned aerial vehicles " -- are everywhere. Our military uses them in warfare; archeologists scan ancient Peruvian ruins to avoid damage, and others survey hydroelectric dams. One even illegally landed recently on the White House lawn.

 

Currently, commercial use for drones -- including real estate marketing -- is prohibited unless an exception is issued by the Federal Aviation Agency (FAA); recreational (hobby) use is allowed under certain conditions, primary of which is that the craft must be flown within visual line sights of the operator and not over 400 feet above ground.

 

The FAA has oversight responsibility, and estimates that by 2020, over 30.000 small drones will be used for all types of business purposes -including one proposed by Amazon's Jeff Bezos for same day package delivery to its customers.

 

Law firms, anticipating lots of legal questions and lawsuits based on drone use, are even setting up "drone practice"groups so as to get a head start when the FAA issues its final authorizations.

 

Is there a role for drones in community associations? According to Marvin Nodiff, a Wisconsin condominium attorney and author of "The Dark Condos", "associations should consider this new drone technology to take advantage of its many beneficial applications, such as providing images depicting conditions of roofs and common ground. Further, associations should protect against potential impacts as drones become more popular for commercial and other uses."

 

Nodiff's book is a fictional tale, that takes the reader on an entertaining, smart and even quirky ride from misguided condo boards to the joys of community living. In the book, the board uses a surveillance drone to search of covenant violations, but accidentally invades the privacy of one of the owners.

 

There are three types of drones. Public, civil and model aircraft. Common public uses today include law enforcement, firefighting, border patrol and search and rescue. The FAA has an online process where applicants can make their request.

 

And the FAA is currently working on implementing procedures which, according to a recent press release, "will allow for commercial operations in low-risk, controlled environments." How will this impact community associations?

 

It is actually mind-boggling to speculate on everything that a drone can do in a community association. First, security. A low flying drone with a camera can spot trespassers and the information automatically relayed to the police.

 

Inspection of buildings, especially high rise condos in congested urban areas. Often the condo board needs to know the condition of the roof, for example, which requires expensive ladders or scaffolding to access. The drone can inspect with the camera quickly and much less expensive.

 

While Mr. Nodiff's board president was a little too aggressive when it aimed the drone's camera into a window in a private house, careful use of the drone will allow complete inspections of the entire community. Especially in large communities, the cost saving could be considerable.

 

And if you are planning to buy or sell a condominium, real estate agents are anxious to have the right to use drones to market their products. The National Association of REALTORS® recently cautioned its members "that the use of unmanned aerial vehicles for real estate marketing is currently prohibited by the Federal Aviation Administration. Such prohibited use of unmanned aerial vehicles may lead to the assessment of substantial fines and penalties."

 

But NAR made it clear that it "supports efforts to create new federal regulations to allow for the future commercial use (of drones) by the real estate industry." And the FAA is listening. On January 6th, it granted the first regulatory exemption for real estate photography. According to an FAA press release, a Tucson, Arizona company is now authorized to fly a drone "to enhance academic community awareness and augment real estate listing videos."

The company must, however obtain a Certificate or Waiver that ensures the safety of the airspace for the proposed use.

 

The FAA has received 214 requests for exemptions and to date has only granted 14. In the meantime, however, the FAA is carefully monitoring and enforcing the illegal use of these aircraft. Recently, although it initially fined Rapheal Pirker $10,000 for operating his drone in a reckless manner on the University of Virginia campus back in 2011, it just reached a settlement whereby Pirker only had to pay $1,100. According to reports, he allegedly flew the drone -- which weighed less than 5 pounds -- at "extremely low altitudes" including under a pedestrian bridge.