Wednesday, April 26, 2017 / by Jason Huerkamp
When you are looking to buy a home in todays hot real estate market, its important to think about the Seller when making your serious offer on a home. Here are a few points to think about when you want that dream home in a competitive market.
When your offer is submitted via the real estate agent on your dream home, what is it about your offer that My Seller would prefer over all others that are presented? Most buyers think its only about price, but that is not always the case. The Seller has needs. He wants to get his home sold in the shortest possible time, for the most amount of money, with the least amount of hassle and inconvenience. The answer is literally in that sentence. So how can you make that happen?
Shortest Possible Time - A serious seller will have priced him home to suit the market. As his representative, we would have gone through the stats and decided on an appropriate price for the property in order to get it sold in the shortest possible time. Your quick move ...
Thursday, December 29, 2016 / by Jason Huerkamp
When purchasing a home, there are many costs for you to consider and although your lender and your real estate agent / Buyer Agent, will give you a good idea about what you need, this article should help you be more prepared.
Earnest Money Deposit
This is the payment you make on the home as a token of good faith to the Seller, an amount that the Seller would not need to refund should you withdraw from the sale or cancel the sale
The downpayment is the amount you pay as part payment for the home and a payment to the lender in support of your application for a home
Loan Origination Fee
These are the fees associated with processing your mortgage and are lender related. There are fees for the loan, processing and underwriting of your mortgage.
Your lender will require a credit report and that fee would form part of your lender fees
Upfront Mortgage Insurance
If you are using an FHA loan or similar where you do not have a full regular ...
Tuesday, December 20, 2016 / by Jason Huerkamp
FHA and Conventional Loans
When buying a home and requiring a mortgage, we often get asked about the option of getting an Federal Housing Administration (FHA) Loan and what the difference would be to you the buyer. Would there be any reason why a seller would choose another offer to purchase with a conventional loan in preference to an FHA loan offer from a buyer.
What is an FHA Loan?
An FHA loan is one that is applied for through a conventional home loan provider (one on the list of providers by the FHA and approved by them) and is insured by the FHA so that the lender is guaranteed their money should you default on your loan. There are two sets of criteria to be met in order to be able to use the the FHA option - The Lenders criteria and The Governments criteria. The buyer, depending on their credit score, will generally be able to put down a lower downpayment of 3.5%. It is important to know your credit score and how to remedy it before applying for a loan an ...