Monthly Archives: September 2015

//September
26 09, 2015

5 Reasons you Should Hire a Realtor to Sell your Home

September 26th, 2015|Blog, Tips & Advice|

Sold House

When you think about selling something, you most likely think about how you can maximize your profit, and that is normal! Everyone wants to make a profit. Have you ever thought about trying to sell your house on your own without using a realtor? While choosing this route may not seem like a daunting task, it can end up taking more time to sell or you might even get discouraged and take it off the market completely.  When deciding to sell your home, there is a lot of benefit that comes from hiring a realtor versus trying to sell it on your own. Here are five reasons we think that you should leave the DIY’ing to the home improvement and Pinterest projects and hire a realtor to handle this one.

Reason #1: They Price your Home Correctly

Experienced agents know the In’s and Out’s of your local market and how to price the home based on those specifics. The fastest way to sell your home is to price it correctly. You do not want to price it too high and risk your home becoming a stale listing and you do not want to price too low and lose money. If you have an experienced agent working with you, you won’t have to worry about making these pricing mistakes with your home.

Reason #2: They Handle the Negotiating

If this isn’t the main reason that many people choose a realtor then we don’t know what is! Negotiations can be stressful and if you are not educated on the housing market you may be going into a negotiation blindfolded. Selling your home is a major business transaction and it should be handled by a professional. The sale process has three significant negotiations: the initial offer, the counteroffere and the post-offer period (inspections, […]

19 09, 2015

5 Things You Should Know Before You Finance a New Home

September 19th, 2015|Blog, Buying a home, Tips & Advice|

before you finance a home

Are you thinking about buying your first home? Congratulations! Owning a home is a rewarding experience and a great investment. Before you sign the paperwork we want to make sure that you know how the mortgage process works and what all is needed and/or expected from you the potential homeowner. Here are five things you should know before signing your mortgage documents.

1. Understand the cost of homeownership

There are four main components of a mortgage payment- principal, interest, taxes and insurance. The principal and interest comprise your monthly mortgage payment. The principal pays down the loan balance monthly, the interest simply pays the fee for borrowing the money. An amortization calculator can show you how this is broken down over time. The taxes refer to your property taxes which are assessed by the county you live in. The homeowners insurance is something that is required if you have a mortgage. This is paid to an insurance company of your choosing and typically costs between $700-$1200/year.

2. Know where you credit score/history stands

In order to obtain a mortgage loan you must have good credit. There are lenders who will lend money to people with average credit but your interest rate will most likely be higher. It is important to have established credit on your report so that lenders can see your credit-worthiness. Make sure to obtain and dispute any errors on your credit report months before you apply for a mortgage so that any discrepancies can be cleared up. Also it is important to know your credit score as this is usually the determining factor in getting approved for a loan.

3. Match your needs to the different products/loan available

You have probably already calculated how much you can afford to spend on a […]

12 09, 2015

First Time Homebuyers Guide to Making a Home Offer

September 12th, 2015|Blog, Buying a home|

giving money for housing

You have searched and searched and you have finally found the one! The perfect home, that is! Now is when things start to get serious. You are probably ready to jump at the idea to make that offer but we want to give you a few pointers before you dive in head first. These tips will help you navigate through the process so that you can go into this like a seasoned pro!

Confidence is Key!

When it comes to making a home offer there is no magic number that will immediately sway the seller to say ‘yes’. As savvy as you may think you are, you have to have the market knowledge before submitting your offer. This requires a little education on your part when it comes to researching the area you are potentially looking to buy in. Once you are educated with some knowledge on the area and market, take that and  your confidence and make an offer that you are truly comfortable with. The most important thing is to believe in yourself! Another key factor in this part of it is making sure you have a realtor by your side whom you can trust.

Educate Yourself

This one kind of piggy-backs off of the last point. You want to make sure that you (not just your realtor) are educated about the area and the value of the homes in the area when it comes to the potential area in which you are looking to make an offer. You also want to look into how long the home has been on the market. This is important because it can make you aware of a potential problem with the home or if the selling price is too high for the value. You also will want […]

5 09, 2015

Selling Your Home? Here is What You Need to Know

September 5th, 2015|Blog, General, Mortgage 101|

Happy couple outside a house with moving boxes. Couple are relaxed and leaning on cardboard boxes in casual clothes. Holding a sold sign. House door is visible in the background. Happy couple outside a house with moving boxes. Couple are relaxed and leaning on cardboard boxes in casual clothes. Holding a sold sign. House door is visible in the background.

Maybe you have outgrown your current home or you just accepted the job offer of your dreams but now  you have to move across town! Whatever the reason may be for your need to sell your home, we know that there are a lot of questions that you might want to know when it comes to your mortgage and selling your home. We have outlined a few of these common questions for you!

Is there a prepayment penalty?

What is this, you ask? A mortgage prepayment penalty is a fee that a mortgage lender might charge for paying off your mortgage loan early. You are more likely to have this fee if you obtained your mortgage loan before 2008. There are mortgages obtained after 2008 that do charge a prepayment penalty if the loan is paid off within the first three years of the loan. An example of a prepayment penalty fee structure is a six month interest on your balance. If you have $275,000 left of your loan with a 4.25% interest, your prepayment penatly would be $5,483.75. You want to make sure to carefully review your mortgage note where it will explain how your prepayment penalty works or if there is one. Make sure you review your paperwork carefully and ask any questions you may have.

Can I buy a new home without selling my current home? 

Maybe you have to move quickly and need to get a […]

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