Full Service “Exclusive” Listing Agreements

Exclusive Agreements give your REALTOR the desire to get your property sold at all costs. Why? Commitment. There are two types of Exclusive Real Estate Listing Agreements: 1. EXCLUSIVE AGENCY LISTING AGREEMENT An Exclusive Agency Listing contracts one brokerage to sell the property. If that agent, or any other licensed cooperating agent finds an acceptable …

Full Service “Exclusive” Listing Agreements Read More »

Self employed mortgage

Self employed mortgage: Tips for the self employed when buying a home

When you’re self-employed and buying a home, there may be more asked of you in order to obtain a mortgage. Before starting your journey, know what some of the extra steps might be. Buying a home can be different for self-employed homebuyers. Understand what’s expected of you and why, such as why a lender might …

Self employed mortgage: Tips for the self employed when buying a home Read More »

Mortgage payment breakdown

Mortgage payment breakdown: How mortgage principal and interest works

A monthly mortgage payment includes at least two parts: an amount that goes towards the principal and a second amount that goes towards interest. When you’re looking at your home loan, it’s important to understand what your mortgage payment is going towards each month and how your lender is calculating this amount. So what is …

Mortgage payment breakdown: How mortgage principal and interest works Read More »

Debt-to-income ratio

Debt-to-income ratio: What to know before applying for a home loan

When you’re applying for a loan, one of the most important factors in determining your final mortgage amount is your debt-to-income ratio. Learn more about this percentage and why it’s so important. Your debt-to-income ratio is the percentage of your monthly gross income that is used to pay your monthly debts including housing. It’s important …

Debt-to-income ratio: What to know before applying for a home loan Read More »

Private Mortgage Insurance

Private Mortgage Insurance: How PMI works and what to consider

When you’re purchasing a home, you may be required to have Private Mortgage Insurance, or PMI, if you’re putting less than 20% down. Private Mortgage Insurance is insurance to protect lenders against a loss if a borrower defaults on the loan. PMI costs will likely result in a slight increase in your overall monthly payment, …

Private Mortgage Insurance: How PMI works and what to consider Read More »

Credit score

Credit score: Things you should know when getting a mortgage

When you’re buying a home, one of the most important factors is your credit score. It’s important to understand how it affects your mortgage loan. When you buy a home, the interest rate you’ll pay for the money you borrow will primarily be determined by your credit score. Your credit score is a three-digit number …

Credit score: Things you should know when getting a mortgage Read More »

Prequalification vs. preapproval

Prequalification vs. preapproval : Understand the benefits of each

Before you begin looking at homes, you’ll want to learn about the importance of prequalification and preapproval and the differences between them. Both prequalification and preapproval can give you an idea of how much home you can afford. There is less of a barrier for prequalification, while preapproval is a more in-depth process. What does …

Prequalification vs. preapproval : Understand the benefits of each Read More »

Mortgage APR

Mortgage APR: The difference between APR and interest rate

The annual percentage rate (APR) is designed to show you the total cost of the loan, which can be helpful when comparing loans from different lenders. The annual percentage rate measures both the interest charged as well as any other fees paid at closing that may include: • Origination fees • Private Mortgage Insurance — …

Mortgage APR: The difference between APR and interest rate Read More »