dave kosmecki: How Much Mortgage You Can Afford? - 10/20/14 08:14 AM
Whether you're buying a home for the first time or you've decided it's about time that you upgraded to a larger, more expansive house, if you're making a real estate purchase you'll need to be aware of how much you can reasonably afford to borrow in a mortgage. In today's post we'll take a look at a few ways that you can analyze your financial situation to help decide how much mortgage you can truly afford.
Prepare An Honest Monthly Budget:
The first step in understanding how much of a monthly payment you can afford is to create an honest monthly … (3 comments)

dave kosmecki: Case-Shiller: Home Prices Cool Across U.S. - 10/20/14 08:04 AM
The stifling heat of July did not penetrate U.S. housing markets according to the S&P Case-Shiller 10-and 20 City Home Price Index reports.
San Francisco's sizzling home prices dropped in July and posted its lowest price gains since 2012. According to the Case-Shiller 10 and 20-City Home Price Index reports, month-to-month home price appreciation fell to identical readings of an 0.60 percent increase as compared to a 1.00 percent increase reported in June.
Case-Shiller also reported that home prices grew by 0.50 percent throughout the nation. This was the seventh consecutive monthly increase for national home prices.
Year-over-year, seasonally adjusted home … (2 comments)

dave kosmecki: What to Do if You are Declined? - How to Get an Second Opinion. - 10/16/14 07:31 AM
If you have been declined for a mortgage, you may think that buying that new home is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about your loan options and get the mortgage that works for you.
Find Out Why The Mortgage Application Was Denied:
The first step to getting a second opinion is to find out why your mortgage application was denied. Banks commonly deny mortgages for reasons like a low credit score, a high debt-to-income … (0 comments)

dave kosmecki: Vacation Home? 6 Tips for Buying a Home/Condo for Relaxation & Vacation Use: - 10/16/14 07:19 AM
If you've just returned from the vacation of a lifetime, you probably wish that wonderful time never had to end. When you buy a vacation home or condo, you can guarantee that you have an escape that will provide you with years of enjoyment. Before you take the plunge, though, take advantage of these six helpful tips about buying a vacation home.
Choose Someplace Versatile:
When buying a vacation home, it's all about getting the most out of your investment. Consider choosing a place that you can enjoy throughout the year. Your ideal vacation home will be a haven in the … (0 comments)

dave kosmecki: Pay Back Your Mortgage Faster? Maybe Consider Bi-weekly Payments. - 10/16/14 06:59 AM
While there are differing schools of thought when it comes to whether or not a person should pay off a mortgage before the loan term ends, there may be some benefits to making payments on a bi-weekly basis as opposed to monthly basis. What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks.
1) You'll Make An Extra Payment Per Year:
If you're looking to pay off your mortgage ahead of schedule, making … (0 comments)

dave kosmecki: FHA Home Loans: How to Pre-apply & Get Pre-Approved Before Buying! - 10/09/14 05:24 AM
If you're in the market for your first mortgage, the Federal Housing Administration may be able to help you. Thanks to the FHA home loan program, you can apply for loan approval before you've found a home that you want to buy - which means you know what you can afford before you start your house hunt. Here's what you need to know about FHA home loans and how they can help you find the perfect house.
Pre-Approval: Assessment Includes Employment History and a Credit Check:
The pre-approval process can be done over the phone or online in a matter of … (0 comments)

dave kosmecki: Buying Land? Don't Forget These 3 Important Considerations! - 10/09/14 05:13 AM
When most people talk about real estate, they envision buying an already-built house on already-landscaped property. However, buying vacant land and building a new home is a great way to ensure that you get the home that you want in the location that you want. It's also a major undertaking, which is why you should take these three considerations into account before you buy any land for your new home.
(1). Location, Location, Location: It's More Important Than You Think:
People often hear the phrase "location, location, location" and it's a very prudent maxim with buying land. The parcel of land … (4 comments)

dave kosmecki: 3 Pieces of Advice You Can Share About How to Manage a Mortgage: - 10/09/14 04:59 AM
When your children are about to step out into the world on their own, you want to help them on their way. This especially holds true when it comes to buying a house. As your sons or daughters prepare to take the plunge into home ownership, make sure they follow three crucial tips that will help them during the mortgage process.
Don't Bite Off More Than You Can Chew:
One of the biggest mistakes that homeowners make is choosing a home that is beyond their price range. Your children need to remember that they are going to be paying for their … (1 comments)

dave kosmecki: Applying for a Mortgage? 3 Questions Your Lender Will Ask You. - 10/09/14 03:10 AM
Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. That means your lender will be asking you several questions about whether or not you can afford a mortgage.
Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval.
How Stable Is Your Income?
Your lender is going to want to know that your income is going to be stable over the life of the loan. This means that you should be … (2 comments)

dave kosmecki: 6 Key Questions to Ask when Hiring a Real Estate Agent! - 10/09/14 03:03 AM
The work of a real estate agent can make or break how a prospective buyer feels about the property. Now that it's time to sell your home, you want to find the right agent to market it.
How do you find someone you can trust who will make you feel confident they can sell your home quickly for the best price possible? Here are the questions you should be asking.
Are They Licensed?
This one is the easy one. You should be working with a member of the National Association of Realtors┬«. It is also important that you check whether they … (4 comments)

dave kosmecki: Case-Shiller, FHFA Report Slowing Growth in Home Prices - 10/09/14 02:57 AM
The Case-Shiller 10 and 20-City Home Price Indices for June reported year-over-year gains of 8.10 percent while the Case-Shiller National Home Price Index covers all nine census regions and reported a year-over-year gain of 6.20 percent.
Readings for all three indices worsened as compared to May readings, and all cities tracked showed slower growth in home prices. The National Home Price Index, which is now published monthly, rose by 0.90 percent from May's reading, and both the 10 and 20-City Index posted month-to-month gains of one percent.
Five cities including Detroit, Las Vegas, New York, Phoenix and San Diego posted larger … (0 comments)

dave kosmecki: Refi or Wait? - 10/09/14 02:49 AM
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit.
However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage.
Using Equity From Your Refinance:
One factor to consider when debating between refinancing now and waiting relates to pulling … (3 comments)

dave kosmecki: DOC New Home Sales and NAR Existing Home Sales - 10/08/14 03:10 AM
The Department of Commerce reported July sales of new homes dropped by 2.40 percent over June to a four month low. Analysts noted that although July's reading of 412,000 new homes sold fell short of expectations and June's reading, the new homes sector is volatile and subject to change.
June's reading of 406,000 new homes sold was revised to 422,000 new homes sold; expectations were based on the original reading. Three of four regions posted a slower rate of growth for home prices with only the South posting a gain.
The average price of a new home in the U.S. rose … (0 comments)

dave kosmecki: 3 Items to Watch out for in a Purchase Agreement Contract! - 10/06/14 07:39 AM
The purchase agreement is a vitally important document that outlines the provisions, terms and conditions for the transfer of property.
It should be read carefully and any ambiguities should be clarified prior to signing. It is a legally binding contract between the buyer and seller.
The purchase agreement may vary depending on the location. Most real estate agents use a form that has been approved by a state realtors association.
The seller may have a different version that was drawn up by an attorney. It should not be assumed that they are all the same.
Typically, the purchase agreement will include … (2 comments)

dave kosmecki: How to Deal with a Joint Mortgage Loan in the Event of a Divorce? - 10/06/14 07:33 AM
During the course of a marriage, it is common for the couple to acquire property together. This is what is referred to as joint or community property.
When a couple divorces, it is up to the parties involved to determine what happens to this joint property or let a judge use applicable law to determine how property is to be split.
What Happens To The House?
A couple of options are available when deciding what to do with a house where both partners are listed on the mortgage. First, the couple may decide to simply sell the home and split the … (0 comments)

dave kosmecki: How to Avoid Insulting a Home Seller when Making a Low Offer! - 10/06/14 07:27 AM
Buying a home is a huge step for people who are ready to make an investment in their future. Getting a great deal on a home is just as important and knowing how much to offer could be confusing. It is important to make sure the home seller is not insulted by the lowball offer and is ready to negotiate to make sure everyone wins.
Make a List of Necessary Improvements:
One of the best ways to validate a lowball offer on a home is to list improvements that need to be made to the property. If the home needs a … (0 comments)

dave kosmecki: Experiencing 'Purchase Anxiety'? How to Calm Your Nerves Before Buying - 10/06/14 07:17 AM
Whether this is your first big purchase, or your family is moving to a new location or looking for more space, buying a home has its share of ups and downs.
It's perfectly normal to feel anxious about whether or not you've found the right property. Here are some things you can do to make yourself feel more secure with your decision.
Do The Math:
You've probably already done this, but it's okay to go over it a number of times to be sure. Factor in your household income and all the bills you expect to pay every month. Add everything … (0 comments)

dave kosmecki: Understanding 'Cash-Out Refinancing' and How to Determine if It's Worth It? - 09/18/14 05:55 AM
With interest rates remaining near historic lows for the past several years, many of your friends and neighbors may have already told you that they have refinanced their home mortgages once or even a couple of times.
A cash-out refinance can provide you with several important benefits, but it is not the best option for all homeowners. By learning more about what a cash-out refinance is and what the pros and cons of this type of refinance loan are, you can make a decision that is best for your current and future plans.
What Is a Cash-Out Refinance?:
When you … (0 comments)

dave kosmecki: 5 Tips for Managing Your Monthly Budget to Ensure Your Mortgage is Paid On-Time. - 09/18/14 05:34 AM
Homeowners who are struggling to make their monthly mortgage payments can make it easier on themselves by cutting costs in other areas. Learning how to budget effectively will likely enable homeowners to pay their mortgage payments on-time, every time. Here are five of the best budget tips:
Conserve Energy:
It is advisable to be mindful of energy use in order to keep utility bills down to a minimum. Lights, televisions and other devices requiring electrical power are best to leave off in unoccupied rooms. It is also a good idea to make sure that windows and doors are properly sealed so … (1 comments)

dave kosmecki: Is a 40-Year Mortgage Worth It? How to Decide. - 09/18/14 05:16 AM
There are different timetables for mortgages. The most common types are 15-year and 30-year mortgages. However, a mortgage broker can establish unique timetables for a homeowner, such as a 40-year mortgage.
Friends may recommend going for a long-term timetable, but what do professionals think of a 40-year mortgage? Here is what you may want to consider to see if a 40-year mortgage is appropriate for you.
The Monthly Rates Will Be Low:
Compared to a 15-year or a 30-year mortgage, the monthly payments for a 40-year mortgage will be lower. Since the mortgage is spread over 10 years beyond a conventional … (4 comments)

 
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David Kosmecki

Osseo, MN

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Address: 20965 South Diamond Lake Rd, Rogers, MN, 55374

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