mortgage auburn: The Five-Year Equity Rule?
- 04/14/21 05:07 AM
The Five-Year Equity Rule? Some things get more valuable with age, like fine wines and real estate. Building equity takes time, money and luck, which is why following the five-year equity rule will help you plan when to sell your home. When you buy a home, plan on staying there for approximately five years. Why? You’ll need equity in order to sell the home without losing money. Equity is your percentage of ownership VS how much the bank owns. With any mortgage loan, the first few years of payments go more toward paying interest than reducing your principal. To build enough equity to sell at break-even or a profit, you’ll have to recoup closing costs and fees as high as 14% in … (4 comments)
mortgage auburn: Do I have to be at closing?
- 04/22/18 05:56 AM
Do I Have to be at Closing Life doesn’t have to stop just because you’re selling your house. AuburnOpelikaALRealEstate.com, BerkshireHathawayHomeServices, Sell my Auburn House, Sell my Opelika House, Auburn Realtor, Opelika Realtor, Real Estate in Auburn, Real Estate in Opelik
Do I have to be at closing? … (4 comments)
mortgage auburn: Fannie Mae HomeReady | Unbelievable 3% Down Program & Free Quote
- 01/02/17 09:03 AM
Are you planning on buying a home in Auburn or buying a house in Opelika and are wondering what type of mortgage is best for you? One option for some buyers is the Fannie Mae HomeReady program. What is Fannie Mae HomeReady? Fannie Mae HomeReady is a low down payment mortgage for creditworthy, low to moderate-income borrowers. Down payments can be as low as 3%. Both first-time or repeat home buyers are eligible. In late 2015, this program replaced Fannie Mae’s MyCommunityMortgage program. Thus, Fannie Mae developed new guidelines around a central theme of income flexibility for creditworthy borrowers. HomeReady acknowledges that there can be broader family involvement in home ownership. … (0 comments)
mortgage auburn: How to Shop for a Mortgage in Auburn
- 12/14/16 11:35 AM
Are you planning to move to Auburn or move to Opelika soon and wondering how to shop for a mortgage? It’s not exactly the kind of fun holiday shopping you had in mind. Still, your ability to sniff out a great mortgage is crucial to your financial well-being as a future homeowner, because the decision you make could stick with you for a very long time, maybe even 30 years. How to Shop for a Mortgage in Auburn - Opelika For all of your real estate needs in the Auburn-Opelika area please contact me at (334) 332-7263 or email me at LauraSellers01@Gmail.com or visit my website. I look forward to … (0 comments)
mortgage auburn: The First Change to Mortgage Application Forms in 20 Years is coming
- 09/03/16 12:12 AM
Are you considering buying a home in Auburn or buying a home in Opelika and are wondering what to expect? The first home buying document you may see — in what will ultimately be a high pile of paperwork — is typically an official loan application form. Even if you complete the loan application process online, the required information and presentation are essentially the same. After 20 long years, though, that form is changing. Fannie Mae and Freddie Mac, the government-sanctioned companies that make the wheels of the mortgage industry turn, have announced the joint development of a loan application they say will be … (1 comments)
The Five-Year Equity Rule?
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