1. Plan Ahead Walk through each room and criticize the home from a buyer’s perspective. Consider getting a professional home inspection to see if any repairs are needed. Hire a contractor to handle any major projects. Consider getting an appraisal to find out your current market value. Hold a yard sale. Sell, donate or trash … Continued
Location, Location, Location is the number one rule in real estate, and it’s often the most overlooked rule. The best locations are those in prime spots such as the following: The school districts affect home value. Even if you don’t have kids, it pays to check out a neighborhood’s school district before buying a home, … Continued
There are many possible ARM indexes. Each one has distinct market characteristics and fluctuates differently. The most common indexes are CMT, COFI, and LIBOR indexes are the most frequently used. Approximately 80 percent of all the ARMs today are based on one of these indexes. Understand that there probably is no such thing as a … Continued
Optimism for the nation’s economic outlook among U.S. business leaders reached its highest level since 2004, according to the latest data from the Grant Thornton International Business report (IBR), a survey of more than 3,300 business leaders in 45 countries. “Following our nation’s political leaders reaching a short-term budget agreement late last year and as … Continued
If you suspect you’ve fallen victim to identity theft, take action immediately to minimize the disruption to your life and your credit history. Here are some steps to take: Report the fraud right away. All lenders, banks, credit card companies and credit bureaus have phone numbers set up to handle reports of fraud and identify … Continued
A real estate appraisal helps to establish a property’s market value–the likely sales price it would bring if offered in an open and competitive real estate market. Your lender will require an appraisal when you ask to use a home or other real estate as security for a loan, because it wants to make sure … Continued
A home inspection is an impartial visual examination of the physical structure and systems of a house, from the roof to the foundation. A standard home inspector’s report will cover the condition of the home’s heating system, central air conditioning system, interior plumbing and electrical systems, the roof, attic and visible insulation, walls, ceilings, floors, … Continued
Eligibility for a VA Refinance is similar to that of a home purchase VA Loan. Typically, you can qualify if you served on active duty for more than 90 consecutive days during wartime or more than 181 days of service during peacetime. For National Guard members and Reservists, the veteran must have served at least … Continued
Loan-to-Value Ratio – The loan-to-value ratio (LTV) is the percentage of the appraised value of the real estate that you are trying to finance. For example, if you are trying to finance a home that costs $100,000, and want to borrow $75,000, your LTV is 75%. Lenders generally don’t like a high LTV ratio. The … Continued
Your lender cares about your income and employment status however they also really care about your credit score. Your credit score is based on how much debt you currently owe, how much available credit you have, and what kind of payment record you have maintained over the years. These factors provide an excellent indication of … Continued