Posted by Manager on June 14th, 2007
Almost everyone, when they choose to invest in a home of their own, will need to apply for a mortgage.
When you need a mortgage, you can shop around for mortgage loans with the best interest rates. When you need a mortgage, you can check your credit score, pay down your debt, save for a down payment. You can even talk with friends, family members and even the real estate company that you are working with for recommendations.
However, not ever real estate broker can help you to get a deal on the mortgage you need in order to buy your home.
IHS Realty, on the other hand, can help. From their site, you will be able to apply for a mortgage online - providing information about yourself, your employer, income, assets and liabilities. More importantly, though, when you apply for a mortgage through IHS Realty’s partners, you’ll save even more on your home purchase. You’ll receive a 1/2% rebate that can be applied to closing costs.
You need a mortgage anyway; choose a mortgage that gives you more!
Flat Fee Realty
Get a mortgage loan that gives you more.
Internet Home Services Real Estate Blog
Posted by Manager on June 10th, 2007
If you’re going to apply for a mortgage to purchase a home, there are some things that you should know.
For example, you should get used to budgeting. Make sure that you are not spending more than you can afford to, and be prepared for unexpected expenses that may come up.
Similarly, you should begin saving. By setting money aside, you’ll be prepared for a number of things: making a down payment and having money set aside for closing costs.
Educate yourself about your different mortgage options - fixed rate mortgages, adjustable rate mortgages, loans for 15 or 30 years, mortgage loans with biweekly payments and more. By knowing what your options are, you’ll be better able to choose the mortgage that’s right for you.
Once you have a better understanding of your mortgage options, you’ll be in a position to apply for the loan. You’ll even be able to apply online and get a pre-approval - something that can make the home buying process even simpler.
IHS Realty
Applying for a mortgage? Research your options and apply for a pre-approval
Internet Home Services Real Estate Blog
Posted by Manager on April 12th, 2007
If you are planning to buy a new home, you should consider a mortgage pre-approval.
Here are three reasons why:
- You’ll know exactly how much you can afford to spend on a home and will be able to look at those homes that you could buy.
- You’ll be able to communicate better with sellers: when the you and the seller know what you can afford, you’ll be better able to talk to the seller about the price of the home. Not only that, but also you will be able to make an offer in a situation where there may be others ready to buy the home.
- You will be able to get the most out of your home search. If you are working with an agent, he or she will be more committed to working for you. If you are working with a flat fee service like IHS Realty, you’ll be able to devote more energy to finding your own dream home.
IHS Realty
IHS Realty can help you to get a mortgage pre-approval.
Internet Home Services Real Estate Blog
Posted by admin on January 24th, 2007
It is an option worth considering
Dallas-Fort Worth home foreclosure postings are still growing – fueled by higher payments on adjustable-rate loans and rising consumer debt.
The latest statistics show that pending foreclosures in Dallas County are 12 percent higher than a year ago and foreclosure postings are up 16 percent in Tarrant County.
Foreclosures are a growing phenonemon all over the country. They’re on the rise everywhere. If you feel like you may be headed toward foreclosure you might want to get out early and sell. If you are more than 2 months behind on your mortgage payment then catching up is not likely - especially if you are unemployed or have large financial debt that you cannot control.
List your house for a flat fee and you can take less than its full value. If you list your house for a few thousand dollars less than its appraised value and sell it yourself then you can get out from under your mortgage without paying a commission to a real estate agent and you may even get out without having to pay anything at all - depending on how much you owe, of course.
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Posted by admin on November 28th, 2006
Mortgages are easier to come by as well
Competition from other prospective home mortgage applicants/buyers is at its lowest; so your purchase offer will be even more welcome than usual.
Another reason to shop for a home during the Christmas season is because fewer people are competing for mortgages. That means your mortgage application is more likely to be acted upon quickly and will be seen in greater favor. You should shop for a mortgage before you shop for a house. That way, you can walk in with your pre-approval letter and the seller knows you’ll have no problem securing the funds for your housing purchase.
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Posted by admin on August 22nd, 2006
Market Conditions
Interest rates will likely go to 7% by the end of the year. Getting a fixed-rate mortgage now would be a good thing.
Most markets in the US are experiencing what is termed a buyer’s market. That means you can be a picky buyer and negotiate prices.
If you use a commissioned agent that represents the seller then they are not likely to want to negotiate the price downward.
Now is a good time to try Flat-Fee MLS. By charging a flat fee to homebuyers and sellers, their interest is in providing service while the price doesn’t matter as much.
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Posted by admin on August 15th, 2006
Should it be a deal breaker?
Okay, you find a real estate agent and they help you locate the property you want to buy. A condo, a house, whatever.
You plan to finance 80-90% and put the rest down in cash.
Your real estate agent tells you other homes or condos in the same area have sold for the price you are paying so the appraisal will reflect that.
Okay, you see the realtor has it under control and you don’t make the financing and offer contingent on the appraisal being at or above the price you are paying for the property.
Your lender is only going to loan you the 80-90% based on the appraised value of the home. If that turns out to be less than the price you agreed to pay then you have to come up with more money for a down payment and you are now paying more than the home is worth.
You should always include a financing contingency in the contract that states it depends on the appraisal.
If this happens to you, there is very little you can do unless the real estate agent deliberately falsified the value of the home or condo or the Appraiser did not do a thorough job of evaluating it.
You should examine the Appraiser’s complete report even if they appraised it at the value you agreed to pay for the property. Make sure they actually did a physical walk-through and that all of the assets of the property were included in the appraisal.
You have the right to ask them to reappraise the property if you find descrepencies in the complete report.
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