by maria | Sep 6, 2016 | Exclusive QA |
The 15-year mortgage offers you a chance to save thousands of dollars over the life of the loan. This is because the interest rate is typically lower and amortization is half that of the 30-year loan, which means that the total interest paid on the 15-year note, as...
by maria | Sep 6, 2016 | Exclusive QA |
Long-term, fixed-rate mortgages are preferred by most homebuyers because they offer security and stability. The interest rate does not fluctuate over the life of the loan, so the total amount of principal and interest always remains the same. The monthly payment can...
by maria | Sep 6, 2016 | Exclusive QA |
It depends who you negotiate with. Some lenders are willing to haggle on both the loan rate and the number of points, but this is not typical among more established lenders. This is why it pays to shop around for the best loan rates. And know the market so that you...
by maria | Aug 31, 2016 | Exclusive QA |
A lease option is an agreement between a renter and a landlord in which the renter signs a lease with an option to purchase the property. The option only binds the seller; the tenant has a choice to make a purchase or not. Lease options are common among buyers who...
by maria | Aug 31, 2016 | Exclusive QA |
Also known as a purchase money mortgage, it is when the seller agrees to “lend” money to the buyer to purchase and close on the seller’s home. Usually sellers do this when money is tight, interest rates are high or when a buyer has difficulty qualifying for a...