Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate. Although there …
Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices
Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate …
Making Sure Your Cash-To-Close Comes From The Proper Source
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process. There’s nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just …
Talk the Talk – Know the Mortgage Lingo at Closing
What the heck are they talking about? Many borrowers go through the closing process in a haze, nodding, smiling, and signing through a bunch of noise that sounds like Greek. Even though you may have put your trust in your …
Five Myths About Home Values
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick …
How Do Mortgage Companies Value A Property That Has Not Been Built Yet?
It’s obviously easier to picture the process of estimating value on an existing property in a neighborhood that has a history of home sales, but the task of determining the value on new construction projects does pose some challenges. Appraisals …
HOA Hurdles to be Aware of When Looking at New Properties
A Home Owner Association (HOA) can have a huge impact on your life when you buy a home in a PUD (Planned Unit Development) or Condominium Project. According to Wikipedia: A homeowners’ association (abbrev. HOA) is an organization created by …
Assembling Your Home Buying Team – Knowing The Players
Buying a new home is literally a team sport since there are so many tasks, important timelines, documents and responsibilities that all need special care and attention. Besides working with a professional team that you trust, it’s important that the …
What You Need To Know About The Home Inspection Process
Congratulations on finding a house! You now have only a few days from when you signed the purchase and sales agreement to have a home inspection. Chances are your real estate agent made the offer contingent upon a satisfactorily home inspection …