Explore Morristown, TN
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 3
Use a Buyer’s AgentIt’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.F...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Thinking About Buying a Foreclosure?With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a r...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Is Buying a Home Still a Smart Plan?With the burst of the housing bubble, credit crisis, and millions of foreclosures across the country, you may wonder if buying a home is such a good idea after all. However, it’s important to consider all of the facts. The important message to take away from th...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 1
Importance of InspectionAs a buyer, you are entitled to know exactly what you are getting. Don’t take anything for granted, not even what you see or what the seller or listing agent tell you. A professional home inspection is something you MUST do, whether you are buying an existing home or a new...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Hot, Normal, and Cold MarketsHot MarketThis is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than no...
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 0
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 0
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 0
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 1
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 1
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 0
The Advantages of Different Types of Mortgage LendersWhat kind of lender is best?If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he works for and he will give you a list of reasons why. If you meet the same loan officer years later, and he wor...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
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 0
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 0
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 0
Documenting Your Assets - Verifying Your Down PaymentWhen buying a home, it is not enough to just come up with the money. With the exception of no asset verification loans, lenders want to verify where the money for your new home will be coming from. If you can document that the funds are coming ...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
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 0
Adjustable Rate Mortgages - The BasicsAn adjustable rate mortgage (ARM) has an interest rate that fluctuates periodically. This is in contrast to a fixed rate mortgage, which always has the same interest rate.Every ARM has basic components: An index A margin Adjustment Period An interest rate cap...

Morristown, TN Real Estate Professionals