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Blog Home Selling Tips & Tricks Stay ahead of the game with current real estate information and tips that will save you time and money! Quick Fixes To Sell Your Home Faster Flooring – Replace worn or stained carpet. Always choose a neutral color. Replace chipped or cracked tiles and clean or replace the grout. Paint Ceilings and Walls – Buyers […]
Foreclosure Avoid Foreclosure Glossary A Abandonment The situation in which a homeowner leaves a house with no intention to return. Accrued Items of Expense Those incurred expenses that are not yet payable. The seller’s accrued expenses are credited to the purchaser in the closing statement. Apportionment The adjustment of the income, expenses, or carrying charges of real estate that […]
Buyers Glossary Of Home Financing Terms 203(k):this FHA mortgage insurance program enables homebuyers to finance both the purchase of a house and the cost of its rehabilitation through a single mortgage loan. A “A” Loan or “A” Paper: a credit rating where the FICO score is 660 or above. There have been no late mortgage payments within a 12-month period. This […]
Buyers Glossary of Home Buying & Selling Terms A Acceleration Clause A provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed. Acceptance A party’s consent to enter into a contract and be bound by the terms of the offer. Adjustable Rate Mortgage (ARM) A mortgage whose interest rate […]
Foreclosure Avoid Foreclosure Frequently Asked Questions It is understandable to have questions when coping with a new and challenging situation, especially when a home is at stake. The reality is that millions of homeowners across the country are finding out that they have more questions than answers. We hope that the following information will help you better understand the circumstances. If […]
Buyers Home Financing FAQs What do lenders generally focus on when you apply for a loan? Lenders look most closely at the “three Cs”-cash, credit, and collateral. Cash means you have enough money for a downpayment and closing costs. Good credit means you have borrowed money in the past and repaid your debts on time and in full. Collateral […]
Buyers Home Buying FAQs What is an adjustable-rate mortgage? An adjustable rate mortgage, or ARM, offers a lower initial interest rate than most fixed rate loans. However, that rate resets periodically, usually in relation to an index. When the rate changes, the monthly payment will go up or down accordingly. For example, the rate on a 5/1 ARM is […]
Real Estate Resources & Information Glossary of Real Estate Terms A Adjustable Rate Mortgage: (ARM): A home loan that can adjust the interest based upon market rates after the set fixed period on the note has expired. Generally an ARM will carry a lower interest rate than a fixed rate mortgage but is considered riskier because the interest rate is not fixed for the life […]
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Blog Home Buying Tips & Tricks Stay ahead of the game with current real estate information and tips that will save you time and money! Check back for new tips and tricks every two weeks. How To Buy A Home With Zero Cash The Zero Cash Down Payment Program offers you a way to buy a home with no down payment. […]
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