![]() ![]() Cash Advance, N Mitchell St, Cadillac, Michigan - L D Funding Inc, Getwell Rd, Southaven, Mississippi L D Gooch & Sons Inc, Lafayette Dr, Rhoadesville, Virginia - L & L Financial Solutions, Vandiver Dr, Lincolnton, North Carolina L & L Partners Wealth Management, Lafayette Ave, Suffern, New York - L&N Federal Credit Union, Veterans Pkwy, Jeffersonville, Indiana L & N Federal Credit Union, Von Allmen Ct, Louisville, Kentucky - L Squared LLC, Ivy Ln, Greenbelt, Maryland L. For instance, if homes have recently sold for 5 percent less than the asking price, your opening bid should probably be about 8 to 10 percent lower than what the seller is asking.L.A. Consider especially sales of similar homes in the last three months. Before you make an offer on a home, do some research on the sales trends of similar homes in the neighborhood with sites like Zillow. If you plan to stay in the house for a long time-and given the current real estate market, you should-taking the points will save you money.ĭo your homework before bidding. Additionally, when picking a mortgage, you usually have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. This way, you have a lower monthly payment, with the option of paying an additional principal when money is good. means it’s better to opt for the 30-year mortgage instead of the 15-year. Today, the debt the average person will accumulate due to credit cards, student loans, etc. ![]() By doing a thorough analysis of your actual spending power, you’ll be less likely to get in over your head.Ĭhoose your mortgage carefully. Used to be the emphasis when it came to mortgages was on paying them off as soon as possible. Unlike pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history. You can also put yourself in a better position to make a serious offer when you do find the right house. By getting pre-approved as a buyer, you can save yourself the grief of looking at houses you can’t afford. Sub-primes may be history, but you’ll probably still be shown homes you can’t actually afford. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home. As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. ![]()
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