What Can Go Wrong In A Real Estate Transaction? It is a wise client who prepares for problems before they ever happen. We also believe this to be true in our business. A transaction is not complete until papers are signed at closing. There are many potential issues that could…
Preparing Your Home For Sale Checklist What more could you want than to get your home sold for top dollar in short order without any hassles? If you take a moment and read through the following suggestions before you put the property on the market, you’ll be on your way…
The Dangers of Not Starting at the Right Price Is my home invisible in the market? Your home has been on the market several months. You’ve seen several homes in the neighborhood sell. There is seemingly no interest in your home and you still have yet to get your first…
Loans and Terms constantly change with economic conditions, but the following is a summary of many of the types of loan offerings in existence. Conventional A type of mortgage not obtained under a government insured program. This loan is secured by investors. Generally, you may obtain a Conventional Mortgage up…
How to Shop for Mortgages to get current low mortgage rates. Shopping, comparing, and negotiating may save you thousands of dollars. Obtain Information from Several Lenders Home loans are available from several types of lenders–thrift institutions, commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices,…
There’s a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan’s principal. This is the method being used by “Bi-Weekly Mortgage Reduction Services” and “Bi-Weekly…
Did You Know? Making one extra mortgage payment a year will knock years off your mortgage and save you thousands of dollars. If you search for “bi-weekly mortgage” with an Internet search engine, you will be overwhelmed by the number of companies offering “Bi-weekly Mortgage Reduction Services” or “Bi-weekly Savings…
Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio the amount of your mortgage loan divided by the value…
Unless you are paying cash for your new purchase, before you begin shopping, you should speak with a mortgage broker/banker to figure out how much you can afford. This will put you in a better position as a buyer. Pre-Qualification and Pre-Approval are essentially the same thing. A prequalification means that…
Do you plan on keeping your loan for a while? Then it may make sense to “buy” a lower interest rate by paying one or more “points.” Even if you’re unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for a…
