Explore Morristown, TN

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Getting a Legitimate Lender and Getting Pre-ApprovedIt used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.Most le...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 2
Finding the Right SellerThe best seller is one who is highly motivated. A highly motivated seller is more likely to sell at a price that is less than his or her house is actually worth. And it matters that you find out why. Learning the reason why can help you get the price you want and help the ...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 2
Build a Plan of Action and Get ReadyBuying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Avoiding Financial StressBy asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.It is still true that the better qualifications you have, th...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 2
Your Savings and Down PaymentYour First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you shou...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 3
Where Does the Money Come From for Mortgage Loans?In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds lying around and considered you a good credit risk, they would lend you the money from their own funds....

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
WHAT’S A FICO®?What is a FICO® Score?FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit worthiness. Each of th...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Types of Mortgage LendersMortgage BankersMortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is considered to be a mortgag...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 2
Land ContractAn alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land c...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Items You Need When Applying For a LoanHave These Items Ready When You Apply For a LoanIt used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getting an...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
FICO® Scores and Your MortgageYears ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history.Then things changed.Lenders studied the relationship between credit sco...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
FICO® Score - a Brief ExplanationWhen you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your FICO® score.“What’s a FICO® score?” is a common reacti...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 3
Closing Costs When Buying or Refinancing a HomeThis is a detailed summary of costs you may have to pay when you buy or refinance your home. They are listed in the order that they should appear on a Good Faith Estimate you obtain from a mortgage lender. There are two broad categories of closing co...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Your Savings and Down PaymentYour First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you shou...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Why Do You Need Title Insurance?Title Insurance.It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and pro...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Title Insurance - Where Does Your Dollar Go?Title Insurance: As a homebuyer, the term is probably familiar - but is it understood? What is your dollar actually paying for when you purchase a title policy?Title Insurers, unlike property or casualty insurance companies, operate under the theory of ...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
The Functions of an EscrowBuying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. Fo...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Statements of InformationWhat’s in a name?When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from other...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Required Reporting to the I.R.S.Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service.This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforceme...

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Creative FinancingCreative financing: You’ve heard of it, and, as a seller, the idea sounds pretty attractive. But, do you know everything you need to know about carrying back a second; essentially, about becoming a lender? You better know the same things that financial institutions know - you be...

Morristown, TN Real Estate Professionals