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Real Estate Resources for Buyers

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Top Real Estate Resources for Buyers

Should You Use A Mortgage Broker or A Bank? One of the most common questions I get from home buyers is; “what do you recommend, should I go with a mortgage broker or should I go with a bank for my home loan?”

Should You Use A Mortgage Broker or A Bank?

"Also, is a mortgage broker the same as a loan officer? " "Is one better than the other? " All good questions! Although yes, finding yourself a good Realtor is vital to ensuring a smooth home purchase, a great mortgage professional is equally important to ensuring a successful closing. During the home purchase process, you will spend way more time with your Realtor, driving around, looking at homes and a good personality fit helps. For this article, I teamed up with mortgage expert Luke Skar of Inlanta Mortgage and to help explain the difference between the two main sources for mortgages.

I’ll cover things from the Realtor/home buyer perspective, while Luke will go over the different types of lenders and the pros and cons of each option. From the Realtor's perspective. Your Morgage source options: How To Buy A Home Being Sold FSBO. House Hunting Tips: How To Search Like A Pro! Share on Facebook Share on Twitter You’ve probably heard house hunting stories from friends or co-workers about looking at dozens or even hundreds of homes before finding the one.

House Hunting Tips: How To Search Like A Pro!

While you definitely don’t want to rush the process or make an emotional decision that you will regret later, you also don’t want to find yourself on an endless house hunting mission. Real Estate Terms That Must Be Known. Real Estate Terms can be confusing if you have never bought a home before, or have not purchased a house in a very long time.

Real Estate Terms That Must Be Known

If you are planning a home purchase in the near future, you really need to get familiar with the words and phrases that will affect a major portion of your net worth. Follow along on this list, compiled of some of the most common real estate terms used when buying a home. If you are looking for a more complete glossary of real estate terms, check out the list on the Freddie Mac “My Home” section of their website. Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing money. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower is required to pay. Appraisal – A professional analysis used to estimate the value of the property. Closing Costs – The costs to complete the real estate transaction. Credit Score – A number ranging from 300-850, that is based on an analysis of your credit history. How To Buy A Home In The Country. What To Know When Buying A Rural Home 5 Tips For Buying A Rural Home One of the major decisions that home buyers need to make before starting the process of buying a home is relating to the type of property they’d like to purchase.

How To Buy A Home In The Country

There are several types of properties that a buyer can choose to purchase such as a multi family home, suburban property, a foreclosure, an estate sale, or rural home. One of the most unique things about the Greater Rochester NY area is the variety of property types you’ll find in the area. Tips For Home Buyers in a Seller's Market. Share on Facebook Share on Twitter For the past several years, it has mostly been a sellers’ market.

Tips For Home Buyers in a Seller's Market

The inventory of homes is far less then the number of willing and able buyers out there. This has created a situation where there are multiple offers on each property, which creates ‘bidding wars’ and offers where the buyers often remove contingencies, just to get the house. For sellers, this is great, for buyers, it is very scary and frustrating. Know what you can and can’t do! Well-priced homes, that have been updated, well maintained and have had a ‘prior’ home inspection before hitting the market, usually sell instantly, sometimes within hours of being listed. What you can be prepared for in advance, is have all your financial, pre-approval and necessary funds available, to be able to make the strongest offer when a home pops up you want to make and offer on.

Home Buying Advice For Spring. How To Improve Your Credit Score In Order To Buy A Home. What is A Home Inspection and Why Do I Need One? Why do you need a home inspection when purchasing a home for sale?

What is A Home Inspection and Why Do I Need One?

You are about to make one of the largest single investments of your life when you buy a home. You would not buy a used car without having an expert mechanic check it out, so why would you buy a home without getting an expert opinion? Home inspectors are trained to spot hidden trouble or predict future problems, based on poor condition of mechanical, plumbing, or structural issues. The home inspection can be a great predictor of issues that have not yet failed, but soon may. Whether handwritten or computer generated, these reports will be divided into the different systems of the home, and contain specific comments about the condition of each one. Some of the issues the home inspector might uncover may be extensive, or very simple and inexpensive to fix. The information in this article was provided by Shannon Holmes of RealtySouth. Other related articles you may find helpful include:

Will The Home You Want To Purchase Increase In Value? Share on Facebook Share on Twitter.

Will The Home You Want To Purchase Increase In Value?

How to buy a home when you have student loan debt. Share on Facebook Share on Twitter While it may seem totally out of reach to most young people fresh out of college, there are steps to take, to buy a home while you are still carrying a student loan.

How to buy a home when you have student loan debt

This is a viable option, if you take the proper steps, and with rents increasing, most first time buyers would prefer to build equity vs pay their landlords rent. Based on recent research, those who have completed a bachelor’s degree and intend to buy homes are modestly affected by their student loan repayment in their search. In this article, we take a look at tips from financial experts regarding how to acquire a mortgage while at the same time servicing student loans. via Kyle Hiscock. Should You Use Gift Money For A Down Payment? Share on Facebook Share on Twitter For many first-time buyers, coming up with the down payment is one of the greatest challenges of buying a home.

Should You Use Gift Money For A Down Payment?

If a loved one is willing to gift you the money for a down payment on a Long Beach home, it may be just what you need to clear a major hurdle to buying your home, but make sure you are aware of the pitfalls and restrictions. Using money you receive as a gift to buy your home usually comes with additional paperwork and there may be tax consequences to consider. Here’s what you should know. Can You Use Gift Money? How To Purchase A Home That Needs To Be Renovated. Tips For Purchasing A Fixer-Upper How To Purchase & Renovate A Fixer-Upper Mark Twain famously said “buy land, they’re not making it anymore.”

How To Purchase A Home That Needs To Be Renovated

This sentiment has been the driving force behind people that wish to flip a home for a profit. While it can be a good way to earn money on an investment, there are also some items to consider in order to avoid losing money. Getting the right property, correctly estimating costs and sales price, and lining up the money are all vital to making sure this kind of investment is profitable. Finding the Correct Fixer-Upper. Is Homeownership A Smart Investment For Everyone? What Is Private Mortgage Insurance? PMI Explained!

Mortgage Insurance – Do You Need It Even if It’s Not Required by Your Lender? Finding a proper mortgage loan and understanding the processing procedures behind the loan is the basis of good research. The down payment on a mortgage loan is typically significant when dealing with mortgage insurance. Most loan applications with less than 20% down payment are required to include mortgage insurance with the loan. However, it may still be required even if it’s not typically required by your lender. Why You Should Never Buy the Best House in the Neighborhood. Do Not Buy The Best House On The Block You’ve been house-hunting and you’ve found it – the perfect property aka The One! It’s got the perfect amount of bedrooms, perfect size, perfect architecture, perfect garden, perfect pool, perfect everything!

So what if the price is higher than every other house in the neighborhood?! This kind of opportunity only comes along once in a blue moon, so you should snap it up! What Is Home Insurance? A Guide For First Time Home Buyers. Protect Your Belongings With The Right Home Insurance Policy For the first time home buyer there is a lot of information to learn and understand before signing a mortgage. One item of importance is the homeowners insurance policy. Considering the enormous cost of an average home, it goes without saying that the majority of people could not afford to pay for the replacement of a house in the event of a disaster. That is why it is so important to have a good insurance policy that takes care of all your needs. Learn what makes up a homeowners insurance policy so that when the time comes to purchase one, you have a better idea of what coverages you’re looking for.

Types Of People That Should Not Buy A Home. Be it your through your own natural, inherent tendencies or through parental coercion, the usual human progression is go to school, get a job, get married, have kids..... and buy a home (actual order may vary). The Ultimate 14-Step Guide To Buying A House! How To Search Homes For Sale Like A Pro. Lots of real estate markets across the country are seeing tight inventory on homes for sale as well as low market times. Questions Home Buyers Should Ask Regarding Potential Homes. 5 First Time Home Buyer Tips That Should Be Done First. Radical Ideas For Saving Up For A Down Payment While Renting. Share on Facebook. No Money Down Mortgage Illinois Wisconsin Minnesota Florida. No Money Down Mortgage Requirements and Guidelines: A Detailed Look. Top 10 Questions To Ask Before Making An Offer On A Home.

The Ultimate Guide to Understanding Your Credit Score. 7 Must Do Things To Prepare For A Home Purchase Next Year. With the new year quickly approaching, now is a good time for potential new homeowners to review, revise and refresh their financial habits. Real Estate Negotiations: Is Price The Most Important Part? Why You Should Buy a Home In The Winter. The Benefit of Real Estate Seminars. Top 10 Reasons To Hire A Buyers Agent When Buying A House. Avoiding Home Buyers Remorse: Top Resources. Habits of Effective Home Buyers.

Crazy Good Tips For Purchasing A Home in The Fall. How To Save For A Down Payment On A House. Top Real Estate Articles on Behance. Buying a Home After a Divorce. Should I Buy A Condominium? - Cincinnati and Northern Kentucky Real Estate. Best Google+ Real Estate Articles September 2016. How Easy is it to Make Money Flipping Houses? Buying and selling a home and the joys of waiting. How to stay sane. How To AvoidHome Buyer's Remorse. Fall Home Buying Tips: Signs You Are Ready To Purchase! First Time Home Buyer Guide: The Home Buying Process Explained. 6 Ways Buyers Fail In Their Quest To Purchase A Home. How To Buy a House Site Unseen. Signs That You Are Ready to Purchase a Home This Fall. Spring Home Buying Tips for First Time Home Buyers. 6 Signs That You're In A Competitive Real Estate Market.

How to Avoid Overpaying For a Mortgage. First Time Home Buyer Tips.