Have you been considering a mortgage for your next home purchase? As with any loan or financial product, there are a variety of fees and costs you may incur in the process of closing your mortgage. In today's post, we'll explore a few of these potential fees and the situations in which you may encounter them. Let's get started! Title Insurance Costs You're almost certainly going to incur insurance fees and charges. In most cases, you'll need to pay for title insurance for the lender, which is based on the purchase price of the home but varies from state to state. This protects the lender if … [Read More...]
Are you thinking about selling your home? If so, you may be weighing the pros and cons of working with a professional real estate agent. Let's take a quick look at three great reasons why you won't want to handle the sale yourself. You Won't Save As Much As You Think Let's start with the most common and obvious reason that homeowners try to handle their home sale: the cost. It's true that selling your home using the services of a real estate professional isn't going to be free. Depending on the value of your home, their commission might range from two to four or five percent of the final sale … [Read More...]
Whether you're tired of renting, need more space or want to make an upgrade, buying your first home is the solution. However, if you have never participated in the market before it can be a bit daunting at first. Let's explore a few useful tips that are helpful for first-time homebuyers who are new to the process of buying real estate. Tip #1: Begin With The End In Mind Before you start exploring local home listings and shopping around, it's worth asking yourself both what you 'need' in a home and what you 'want' in a home. For example, are you single or married? If you are married or are … [Read More...]
Whether you're just out of college, recently married or simply haven't jumped into the market yet, buying your first home is an exciting prospect. It can also be an expensive one, which is why most people will take out a mortgage to help finance the cost. If you are planning on engaging with a mortgage lender, you'll need to have your finances in order. In today's post, we'll share a few key reasons why you'll want to check your credit score well in advance of buying your first home. Your Credit Score Is A Signal For Lenders As you know, mortgage lenders have a responsibility to lend to those … [Read More...]
Last week's economic news was slim due to the Labor Day Holiday. Scheduled releases included the Fed's Beige Book Report and weekly readings on mortgage rates and new jobless claims. Beige Book Cites Concerns Over U.S. Auto Industry Federal Reserve Board members shared anecdotes from their respective regions; of note were concerns about U.S. automakers. Auto production was more than 16 percent lower year-over-year in Cleveland, Ohio. Fed business contacts said that automakers are no longer seeking buildings for expanding production. Analysts said that slowing auto production and sales … [Read More...]
Are you ready to sell your home? Whether you're just starting to make your plans or you're ready to list now, you likely want to know how you can get top dollar. It's going to take more than just throwing up a high price on the listing and waiting for a buyer to show up with a check. With that in mind, here are three secrets to ensuring that when you sell your house or condo, you get the best possible price. Great Staging Is Critical To Your Success The first secret is that you'll really need to consider how you want to stage the outside and inside of your home. Staging your home is your best … [Read More...]
