Author Archives: Site Administrator
How Is A Home Marketed?
As you’ll see in the video, every home and market is a unique situation. Good marketing plans are specific to both. But every plan will include: Preparation Pricing and Marketing Activities. Preparation takes time – typically, months. Homes must be in “show” condition all repairs and upgrades complete and all photos and video completed… Read More »
How Do I Set The Price On My House?
While this video simplifies things to help you remember: your aim is to get the best price AND terms in your market during the period you’re selling. Market conditions interest rates and competition all matter. The price you want, and the price a buyer will pay are framed by those complex conditions So pricing… Read More »
How Do I Make A Home Ready To Sell?
As we show you in this video, start several months before the property is made available. Look through the eyes of a buyer What needs to be cleaned? Repainted? Repaired? Or tossed? Ask yourself – or a friend If you were buying this house what would you want to see? The goal is to… Read More »
What Are 203(B) And 203(K) Loans?
The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines limited lender’s fees, and a maximum loan amount. 203(k) loans enable homebuyers to finance both the purchase and rehabilitation of a home through a single mortgage. A portion… Read More »
What Is PMI?
This video tells you about it all. PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that provide mortgage insurance. They offer both standard and special affordable programs for borrowers. These companies provide guidelines to lenders that detail the types of loans they will insure. Lenders use these guidelines to determine… Read More »
What Do I Get At Closing?
For most real estate loans, you will receive a Closing Disclosure 3 business days before loan consummation – which frequently happens at the closing meeting. At the meeting itself you should receive a copy of your Mortgage Note – your obligation to repay- your Mortgage or Deed of Trust the binding Sales Contract and… Read More »
What Is The Best Way To Compare Loan Terms Between Lenders?
Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You should include: the company’s name and basic information the type of mortgage minimum down payment required interest rate and points closing costs loan processing time whether prepayment is allowed Speak with companies by phone… Read More »
How Are Pre-Qualifying And Pre-Approval Different?
Watch this video and it’ll make sense. Pre-qualification is an informal way to see how much you maybe able to borrow. You can be ‘pre-qualified’ over the phone with no paperwork by telling a lender your income, your long-term debts and how large a down payment you can afford. Without any obligation, this helps… Read More »
What Is A Credit Bureau Score And How Do Lenders Use Them?
As we show you in this video, a credit bureau score, or “credit score” is a number based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a mortgage loan. The better the score, the better… Read More »
How Can I Find Out Information About My Credit History?
Watch this video and take a few notes! There are three major credit reporting companies: Equifax – www.equifax.com 1-800-685-1111 Experian – www.experian.com 1-888-397-3742 Trans Union – www.transunion.com 1-800-916-8800 Obtaining your credit history is as easy as calling and requesting one. Once you receive the report, it’s important to verify its accuracy.
