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What Are 203(B) And 203(K) Loans?
The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines limited lender's fees, and a maximum loan amount.
203(k) loans enable homebuyers to finance both the purchase and ...
How Do I Make A Home Ready To Sell?
As we show you in this video, start several months before the property is made available. Look through the eyes of a buyer
What needs to be cleaned?
Repainted?
Repaired?
Or tossed?
Ask yourself - or a friend If you...
How Is A Home Marketed?
As you’ll see in the video, every home and market is a unique situation. Good marketing plans are specific to both. But every plan will include: Preparation Pricing and Marketing Activiti...
What Is Mortgage Insurance?
Like the video shows, mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. Like home or auto insurance, mortgage insurance requires payment of a premium, is for protection against loss, an...
How Can I Improve My Home’s Value?
Buyers generally seek the least expensive home in the best neighborhood they can handle. Like the guy in the video says, you want to present a home that fits in the neighborhood but doesn’t stand out too much.
For examp...
Why Use A REALTOR®
A state license is required to sell real estate. But roughly half of those licensed take the additional step of becoming a REALTOR®.
As we show you in this video, only members of the National Association of Realtors - NAR - are entitled to use that registered tradem...
What Details Can I Ask Brokers In Advance?
This video tells you what any real estate professional would tell you. Ask them:
How long do homes in my neighborhood currently stay on the market?
How would you price my home?
What data did you use to arrive at that price?
...
How Do I Evaluate An Offer?
Well, as this story shows, there’s more to an offer than the price tag. Factors you should consider:
Is this offer at, near or above my asking price?
Are there clauses and additions in their offer that change the terms and final price substanti...
What Is A Counter-Offer?
The video puts this in more visual terms, but basically, a seller can respond to a buyer’s offer with changes - a “counter” - that improves the terms.
You need to put yourself in their shoes and construct a modified offer that you think they might take that mee...
What Can I Expect To Happen On Closing Day?
While this video simplifies things to help you remember: you'll present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller remainder of down payment, prep...
What Are The Advantages Of 15- And 30-Year Fixed-Rate Mortgages?
For both, as we show you in this video, compared with other options, with fixed rates, housing costs won’t be affected by interest rate changes and inflation.
With A 30-Year Term: In the first 23 years of the loan more interest is paid off than principal meaning ...
How Can I Keep Track Of All The Homes I See?
There are some great tips in this video, like:
if possible, take photographs of each house: the outside, the major rooms, the yard and extra features that you like or ones you see as potential problems.
Write things down as you go. And don't hesitate to return for a...
What Is Equity?
Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market.
The example this video shows - you have a house worth $300,000 today and you owe the bank $200,000. Your
What Is “Prime”?
The Prime Lending Rate - sometimes just called “Prime” - is the interest rate that banks charge each other for overnight loans. Some consumer rates - like ARMs - are set in relation to Prime.
In the US, Prime is affected by the Federal Reserve lending rate to b...
What Types Of Closing Costs Are Associated With FHA-Insured Loans?
While this video simplifies things to help you remember, except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan.
As of 2013, the
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