FHA Loans are Assumable
Many people do not realize that FHA loans are actually assumable. What this means is that if you have an FHA loan at today’s historically low rates, and interest rates go up in the future, you can offer your low rate FHA loan to a qualified buyer as an incentive to make your home more [...]
You’ve opened escrow, now what?
January 27, 2010 by admin · Leave a Comment
Congratulations, you are on your way to owning your very own home! Follow these suggestions (and your realtor’s advice) so that escrow and settlement with go as smooth as possible. You will be asked for a down payment on the home you are purchasing. You can choose to put down as much or as little [...]
How can I get the best rate for my mortgage?
January 27, 2010 by admin · Leave a Comment
Naturally, you want to get the best deal for the least amount of money. This holds true for mortgage rates as well. A lower interest rate means a lower monthly mortgage payment, which can save you money in the long run. Also, it is easier to qualify for a lower payment than a higher one. [...]
What are the Available Mortgage Types?
January 27, 2010 by admin · Leave a Comment
Fortunately for buyers, there are a variety of mortgages to choose from. It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won’t qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more [...]
How do I negotiate with sellers
January 27, 2010 by admin · Leave a Comment
Buying a home is one of the most important purchases most people will make. In order to make the right decision the first time, potential buyers need to be prepared. Consider the following before starting negotiations: Be prepared Research the housing market in the target area. Once you have information about the general area, focus [...]
Advice For First Time Buyers
January 27, 2010 by admin · Leave a Comment
Pre-Qualification Meet with a mortgage broker and find out how much you can afford to pay for a home. Pre-Approval While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after homes that are [...]
