Category: Blog

Interest Rate Outlook – Three Things to Follow

Three Things to Follow Home loan rates remain right at historic lows fueling unprecedented refinance activity and driving purchase demand. Many are asking: how long will the good times last? Could rates move another leg lower? What’s next for rates? Here are three things to follow: 1) Don’t Fight the ...
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What do appraisers look for?

When determining a house’s value, an appraiser may look at a few key things. An appraiser typically has a very good idea of what your home is worth before they even come look at it. That means that your last second clean-up shouldn’t have an impact on the value of ...
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What is title insurance?

Before a home is purchased, a title company runs a title search to find out if there are any existing liens on the property as well as the current ownership. Title insurance protects both the lender and the borrower against loss or damage occurring from liens, encumbrances, or defects in ...
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Where does my earnest money go?

When you are purchasing a home you will put down earnest money towards the contract to purchase the property. The earnest money varies from contract to contract and can be dependent on the current real estate market. The earnest money itself is money paid to confirm a contract.  The earnest ...
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Appraised Value vs. Purchase Price

You may have questions about your appraisal, such as: If my appraised value comes in higher than expected, do I need to bring as much for my down payment? The answer to this question is yes. Your mortgage terms remain the same.  That being said, we use the purchase price ...
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How to make your offer stand out over others

It’s a seller’s market, meaning multiple people are submitting offers for the same home. While you may think you are in a great position, make sure you have put yourself in the best buying position with the following steps: Make sure you have a well known, well respected real estate ...
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What is an Escrow Account?

An escrow account is an account that your mortgage company sets up to hold money which is then used to pay your taxes and insurance on time.  Every month when you pay your mortgage payment, a portion of that is being put into the escrow account. This is just an ...
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What are they talking about? – Common Real E...

You may hear some different terminology as you are making offers on homes and beginning the process of purchasing. This time in your life can be very exciting, but very confusing, so here are some terms that you may hear and what they mean.  REPC  This is the Real Estate ...
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How to calculate the “break-even” point with a...

When you refinance there are costs associated with closing the loan. While you may be saving hundreds of dollars monthly, it is still good to know when you break even with your savings and the money spent on the refinance.  To calculate the break-even point of a refinance: Start by ...
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What are some reasons to refinance your home?

Refinancing your home can be very beneficial, but each person is different and will have their own reasons for refinancing.  Here are some reasons why you may consider refinancing your home: Reason #1: Lower your Interest Rate Lowering your interest rate can lower your payment, reduce the amount of money ...
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