Archives: December 2020

Debt-to-Income Ratio Affects Approval & the Interest Rate

Debt-to-Income ratio is a tool that lenders use to qualify buyers for a mortgage and is an important factor in determining loan approval. It provides an indication of the amount of debt that a potential borrower is obligated to in relation to how much income they have. Total monthly debts are determined by adding the […]

Buyer’s Closing Costs

Ideally, each party will pay their own closing costs associated with the purchase and the sale of a home, but they can be negotiable based on lender requirements and market conditions. The fees are usually paid at the settlement and will be itemized on the closing statement. Buyers should be aware of them before contracting […]

Where Did the Assumptions Go?

Mortgage assumptions have not been a practical matter for the last 30 years because mortgage rates have been on a steady decline. Even if the seller had a rate lower than the current rate, the new purchaser must qualify to assume the loan. In the case of conventional loans, the lender has the right to […]

4 Bright Ideas for Staging Your Home with Lighting

Key Points: When it comes to selling your home, staging is the easiest way to make a great first impression both online and during an in-person tour. Focusing on the smaller touches can really impress buyers—and lighting is an important detail you should never overlook. Looking for more easy tips to transform your home and […]

Vacation Home Sales Up 44%

Vacation home sales are up 44% year-over-year according to the National Association of REALTORS® based on sales during the July to September period. Not only are the number of units up, but they are also selling faster than in previous years. On a national basis, 72% of existing vacation homes closed in October were on […]

Home Inspections

A home inspector is another key professional involved in a real estate transaction. Many times, the sales contract will have a provision that allows the purchaser to have inspections made to discover issues that are not readily apparent or have not been disclosed by the seller. It is important to have a qualified individual perform […]

Mortgages Made Easy: How to Choose the Right Home Loan

Key Takeaways: As mortgage rates continue hovering near historic lows, many potential buyers are eager to make a move—but it can be hard to know which type of loan is best. There are dozens of different mortgage options available today, and some even have low down payment or credit score requirements. This can help a […]