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Showing posts from February, 2019

Depends If You Can Afford It

Affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30-year term.The payments are lower, easier to qualify for the mortgage and they can always make additional principal contributions.However, for those who can afford a higher payment and commit to the 15-year term, there are three additional reasons: lower mortgage interest rate, build equity faster and retire the debt sooner.The 30-year, fixed-rate mortgage is the loan of choice for first-time buyers who are more likely to use a minimum down payment and are concerned with affordable payments. For a more experienced buyer who doesn't mind and can qualify making larger payments, there are some advantages. Consider a $200,000 mortgage at 30 year and 15-year terms with recent mortgage rates at 4.2% and 3.31% respectively.The payment is $433.15 less on the 30-year term but the interest being charged is higher.The total interest paid by the borrower if each of the loans was retired would b…

Do You Know the Way?

Fear of the unknown is common among all ages.Kids, at night, imagine monsters in their closets or under their beds and adults are unsure of what the future might bring.It may be natural for first-time buyers to be unsure of the process because they haven't been through it before but even repeat buyers need to know changes that have taken place since the financial housing crisis.The steps in the home buying process are very predictable and generally follow the same pattern every time.It certainly makes the move stay on schedule when you know all the different things that must be done to get to the closing.In the initial interview with your real estate professional, you share the things you want and need in a home, discuss available financing and learn how your agent can represent you in the transaction.The pre-approval step is essential for anyone using a mortgage to purchase a home to assure that they're looking at the right price of homes and so they'll know what they can…

When It's Important...Find the Facts

Most parents don't put a lot of credence in the statements "Everyone is doing it" and "No one does that anymore."They'll dig a little deeper and get the facts of the situation.Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home.One of the most common myths is that it takes 20% down payment to get into a home.Certainly, an 80% mortgage might have the most favorable interest rate. It won't require mortgage insurance and qualifying requirements might be a little less but there are alternatives."88% of all buyers financed their homes last year and consistent with previous years, younger buyers were more likely to finance their home purchase.In 2018, the median down payment was 13% for all buyers, 7% for first-time buyers and 16% for repeat buyers." Stated by the 2018 NAR Profile of Buyers and Sellers.Qualified Veterans are eligible for zero down payment, 100% mortgage loan…

Your Real Estate Resource

Being a better homeowner is a full-time job.It takes good information to make good decisions not only when you buy and sell but all the years you own a home.Think of times when you need advice on financing, taxes, insurance, maintenance, finding reasonable and reliable contractors and lots of other things.Imagine how nice it would be to have a real estate information line you could call whenever you have a question.Our objective is to move from a one-time sale to customers for life; a select group of friends and past customers who consider us their lifelong real estate professional.We believe that if we help you and your friends with all your real estate needs, we can earn the privilege to be your real estate professional.Throughout the year, we'll send reminders and suggestions by email and social media that enhance your homeowner experience.When we find good articles to help you be a better homeowner, we'll pass them along.You'll discover new ways to maintain your proper…