simi valley townhomes: 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 townhomes: 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 townhomes: 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 townhomes: 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 townhomes: 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 townhomes: 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 townhomes: What is PMI
- 10/25/07 09:44 AM
Private Mortgage Insurance helps you get the loan Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio - the amount of your mortgage loan divided by the value of your home - is greater than 80 percent. PMI isn't a bad thing - it allows you to make a lower down payment and still qualify for a mortgage loan. In fact without PMI, many of us would not be able to … (0 comments)
simi valley townhomes: Closing the Sale
- 10/25/07 09:42 AM
Closing the Sale EscrowTo finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid. Mortgage Escrow Account A Mortgage Escrow Account is … (0 comments)
simi valley townhomes: Documenting Assets
- 10/25/07 09:33 AM
Verifying Your Down Payment,Closing Costs, Assets, Income and Debts A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower. Down Payment & Closing Costs Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan. Take extra care to document the sources for any … (0 comments)
simi valley townhomes: Why you should get an Inspection?
- 10/16/07 06:37 AM
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 make a formal offer. Make … (0 comments)
simi valley townhomes: Living Trusts
- 10/15/07 05:47 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 townhomes: Holding Title
- 10/05/07 10:44 AM
Before you reach the closing day, you will want to make a decision as to how you will "hold title" to the property. This decision has legal, tax and estate planning ramifications. Therefore, it may be prudent to consult an attorney or certified public accountant (CPA). The following information is supplied for informational purposes and should not be relied upon as legal definitions. Buying Alone Sole Ownership A single individual who has not been legally married. An unmarried individual who was married and is now legally divorced. A married individual who wishes to acquire title in his or her name alone. At the … (0 comments)
simi valley townhomes: Save money during the holidays and buy that dream house in the New Year
- 10/03/07 08:48 AM
The holidays can put a dent in your savings especially if you're planning to buy a home. But there are several ways to cut costs so your finances aren't in the red by New Year's Day. Consider the following money saving tips: In lieu of buying presents for every family member, suggest a gift exchange and draw names out of a hat. Agree on a spending limit for gifts for friends and family and stick to it. Make your holiday meals a potluck and assign each guest an item to bring. To prevent the urge to overspend when shopping, use cash and … (0 comments)
simi valley townhomes: Things to avoid before buying a home
- 10/02/07 12:25 PM
Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible: Don't make an expensive purchase. It may be tempting to order that new sofa for your soon-to-be living room, but its best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, … (0 comments)
simi valley townhomes: Winterizing Your Home
- 10/01/07 04:56 AM
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 make a formal offer. Make … (0 comments)
simi valley townhomes: Avoid Holiday Theft
- 09/28/07 06:27 AM
Although we'd like to believe the holidays bring out peace on earth and good will towards men (as the Christmas carol goes), the weeks between Thanksgiving and New Year's Day tend to be a prime season for criminals. During this busy time of year, you can take some easy precautions to prevent becoming a victim of theft. Consider the following safety tips: When holiday shopping: Don't park in unlit areas at night. Put your shopping bags in your trunk. Don't try to cover items on your seats with a blanket. Better yet, take your packages straight home after a shopping spree and then … (0 comments)
simi valley townhomes: How Escrow Works
- 09/27/07 05:39 AM
Closing the Sale EscrowTo finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid. Mortgage Escrow Account A Mortgage Escrow Account is … (0 comments)
simi valley townhomes: 1837 Seasons Street, Simi Valley, Ca 93065/ 1% Buyer rebate/1% Listing Fee Full service 805-551-9489
- 09/26/07 06:44 AM
1837 Seasons St, Simi Valley,1% REBATE Type: Single Family Home Location: Simi Valley Homes-1% BUYERS REBATE(805)551-9489 Price: $735,000 1% BUYERS REBATE MLS #: 70002349 The following Virtual Tour panoramic photos for this property can be viewed online:Virtual Tour The following Special Links for this property are available online:SEARCH 100,000 HOMES … (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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