Blog

How Does The Interest Rate Factor In Securing A Mortgage Loan?

  As you’ll see in the video, a lower interest rate allows you to borrow more money than a high rate with the some monthly payment. Interest rates can fluctuate as you shop for a loan so ask lenders if they offer a rate “lock-in” which guarantees a...

What Factors Affect Mortgage Payments?

  Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment. In bullets: down payment loan size interest rate...

Are There Special Mortgages For First-Time Homebuyers?

  Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past. Lenders may now be able to help borrowers who don’t have a lot of...

What Are “Home Warranties”, And Should I Consider Them?

  You’ll see some pictures in this video to help you remember later, but essentially, home warranties offer you protection for a specific period of time, such as one year, against potentially costly problems like unexpected repairs on appliances or home systems...

What Is Earnest Money, And How Much Should I Set Aside?

  Like the video shows, “earnest money” is money you put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price though the amount can vary with local...

What About A Home Located In A Flood Plain?

  A flood plain is an area of land adjacent to a stream or river that experiences flooding during periods of high discharge. Watch this video and it’ll make sense. If you live in a flood plain lenders will require that you have flood insurance before lending any...

How Can I Keep Track Of All The Homes I See?

  There are some great tips in this video, like: if possible, take photographs of each house: the outside, the major rooms, the yard and extra features that you like or ones you see as potential problems. Write things down as you go. And don’t hesitate to...

What Questions Should I Ask When Looking At Homes?

  As you’ll see in this video, many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? What things require ongoing maintenance like paint, roof, heating and AC, appliances and carpet? Also ask about the...

What Should I Look For When Walking Through A Home?

  As we show you in this video, in addition to comparing the home to your minimum requirement and wish lists use the HUD Home Scorecard and consider the following: Is there enough room for both the present and the future? Are there enough bedrooms and bathrooms?...