simi valley: Loan-Related Closing Costs
- 11/06/07 10:17 AM
Loan Origination FeeThis covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount. Points (optional)An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals 1 percent of the mortgage amount. For example: on a $150,000 loan, 1 point would equal $1,500. Appraisal FeeThe fee for having the house appraised may be incorporated into the closing costs or payment may be required by the lender at the time the loan application is submitted. Credit ReportThe lender uses a … (0 comments)
simi valley: Why you should get an Inspection?
- 11/06/07 10:16 AM
Why you should get an Inspection Whether you are buying or selling a home, you should have a professional home inspection performed. A home inspection will look at the systems that make up the building such as: Structural elements, foundation, framing etc Plumbing systems Roofing Electrical systems Cosmetic condition, paint, siding etc If you are buying a home, you need to know exactly what you are getting. A home inspection, performed by a professional home inspector, will reveal any hidden problems with the home so that they may be addressed BEFORE the deal is closed. You should require an inspection at the time you … (1 comments)
simi valley: Should you buy points?
- 11/02/07 11:26 AM
How do you "buy" a better rate? Do you plan on keeping your loan for a while? Then it may make sense to "buy" a lower interest rate by paying one or more "points." Even if you're unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for a lower rate may make sense. For example, do you have a high-paying job now but you think you might change careers in the next few years? We can help you sort it out. It's part of our finding the right loan for your means and … (0 comments)
simi valley: Living Trusts
- 11/02/07 10:33 AM
Living Trusts Created while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or you can appoint another to serve as trustee. If you serve as trustee, you must appoint a successor to serve as trustee upon your death. Properly drafted and executed, a revocable living trust can avoid probate and delays as the trust owns the assets not the deceased. Consult with your attorney and/or CPA before deciding if a revocable living trust is the right choice for you. Advantages to … (0 comments)
simi valley: Five ways to make the loan process go faster
- 11/02/07 10:30 AM
Five ways to make the loan process go faster We should say that "working with us" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly. But here are five "other" ways you can speed up the process of getting a mortgage loan: And remember that the appraiser doesn't want to buy your house. He or she will say what the house is worth clean and tidy and in reasonable … (0 comments)
Your debt to income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met.
Debt limit There is generally a debt limit associated with each type of loan, such as a 28/36 qualifying ratio for a conventional loan. These qualifying ratios are guidelines. An excellent credit history can help you qualify for a mortgage loan even if your debt load is over and above the limit.
Understanding the qualifying ratio Typically conventional loans have a qualifying ratio of 28/36. Usually an FHA loan will … (0 comments)
simi valley: fixed rate versus adjustable rate loans
- 11/02/07 10:28 AM
What are the advantages of fixed rate versus adjustable rate loans? With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner's insurance premium part of your monthly payment, but generally with a fixed-rate loan your payment will be very stable. Fixed-rate loans are available in all sorts of shapes and sizes: 30-year, 20-year, 15-year, even 10-year. Some fixed-rate mortgages are called "biweekly" mortgages and shorten the life of your loan. You pay every two weeks, a total of … (0 comments)
simi valley: Give your mortgage an annual once over
- 10/25/07 09:40 AM
Give your mortgage an annual once over If the last time you looked at your mortgage was when you closed on your loan, it's time to take it out for an annual once over.New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities. Is a fixed rate mortgage the best choice for you? Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage.If you anticipate selling your home within the next 10 years, one of our new hybrid loans may be … (0 comments)
simi valley: Disputing Credit Reports
- 10/25/07 09:28 AM
Your credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, it's important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home. The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC), … (0 comments)
simi valley: Simi Valley Big Sky Listing
- 09/19/07 11:31 AM
Newer home in sought after Big Sky Community and close to new Big Sky Park!! Light and bright floor-plan over 2900 sq ft with View from upstairs!! Features include: Large eat-in kitchen with center island, walk-in pantry, opens into family room with fireplace. Recessed lighting throughout! One bedroom and bathroom downstairs, and optional den/5th bedroom. Master Suite boasts huge walk-in closet, vanity and upgraded Jacuzzi tub!! French doors lead out to spacious pool-sized yard. Lowest priced home in the community!!! … (1 comments)
simi valley: 7 Tips for Home Buying:
- 09/11/07 01:03 PM
START BY SHORTING UP YOUR CREDIT Since you most likely will need to get a mortgage to buy your new home, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.
AIM FOR A HOME YOU CAN REALLY AFFORD The rule of thumb is that you can buy a home that runs about two-and-one-half times your annual salary. Call your realtor to get a better handle on how your income, debts, and expenses affect what you … (0 comments)
simi valley: What is a Short Sale??
- 09/07/07 11:19 AM
WHAT IS A SHORT SALE? A short sale (also known as a short payoff) is selling a security that the seller does not own but is committed to. It is used to capitalize on an expected decline in the security's price. When a homeowner owes more than can be collected through a real estate sale, a short sale allows them to sell their property to avoid a foreclosure for themselves and the lender.
Short Sales present a unique opportunity for homeowners, mortgage servicers, real estate agents and investors. By accepting a short sale, or a voluntary transfer of title, the lender experiences savings … (0 comments)
simi valley: Helpful hints to sell your home, Simi Valley Real Estate 805-551-9489
- 08/08/07 11:27 AM
Not knowing how to "price" your home... The most challenging aspect of selling a home can be listing it at thecorrect price. (This is where the assistance of a skilled Realtor canmorethan pay for itself.) Listing the home too high loses a large percentage of buyers looking in the price range where your home shouldbe....it's just that simple. (This is the flaw in thinking you'llalways have the opportunity to accept a lower offer.)Helpful "selling" advice*Please make certain your home shows clean and bright. (Open blinds,turn onlights...especially in dark rooms or on gloomy days.)*Store any items of clutter, as well as items you … (1 comments)
simi valley: STOP LOSING MONEY!!!
- 08/03/07 09:35 AM
Stop Losing Money is the logo of American Homes Real Estate, co-owned by Mike Lefton and Joni Parkinson. Their combined years of active real estate experience exceeds thirty years of full-time service. Mike and Joni are currently celebrating their sixth year of operation within their Simi Valley office, located at 4511 Alamo Street. American Homes proudly represents both Sellers and Buyers within the Ventura and Los Angeles counties. The success of American Homes Real Estate is attributed to the commitment and professionalism that is demanded by today's knowledgeable clientele. American Homes delivers both Service and Savings to today's home Seller, providing a … (0 comments)
Loan Origination FeeThis covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount.
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