Careful before you Buy!! Tips to Pass along - 11/10/08 11:07 AM
ow Financing Details Affect Your Offer
Most buyers do not have enough cash available to buy a home, so they need to obtain a mortgage to finance the purchase. Since you will probably make your purchase contingent upon obtaining a mortgage, the seller has the right to be informed of your financing plans in order to evaluate them. That is one of the major reasons that financing details are included in your offer.
Down Payment
As part of your offer, you will need to disclose the size of your down payment. Once again, this allows the seller to evaluate your … (0 comments)
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Refi Time, Rates are Great - 11/10/08 11:04 AM
Refi Time!!
Should I Refinance??
Should I refinance?
The most common reason for refinancing is to save money. Saving money through refinancing can be achieved in two ways:
By obtaining a lower interest rate that causes one's monthly mortgage payment to be reduced. By reducing the term of the loan, thus saving money over the life of the loan. For example, refinancing from a 30-year loan to a 15-year loan might result in higher monthly payments, but the total interest paid durring the life of the loan can be reduced significantly. People also refinance to convert their adjustable loan to … (0 comments)
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