by Net Sheet Calculator | Feb 27, 2019 | Title and Closing
As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance (if applicable), and property taxes....
by Net Sheet Calculator | Feb 27, 2019 | Mortgages:
Well, as this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment. In bullets: down payment loan size interest rate...
by Net Sheet Calculator | Feb 27, 2019 | Mortgages:
This video tells you about the most common types: Fixed Rate, ARM, Balloon and 2-Step. First, Fixed Rate Mortgages: Payments remain the same for the life of the loan generally 15 years or 30 years. Interest rates remain the same, so payments are predictable. A...
by Net Sheet Calculator | Feb 27, 2019 | Selecting:
Like the video shows, “earnest money” is money you put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price though the amount can vary...
by Net Sheet Calculator | Feb 27, 2019 | Mortgages:
Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past. Lenders may now be able to help borrowers who don’t have a lot of...
by Net Sheet Calculator | Feb 27, 2019 | Selecting:
You’ll see some pictures in this video to help you remember later, but essentially, home warranties offer you protection for a specific period of time, such as one year, against potentially costly problems like unexpected repairs on appliances or home...
by Net Sheet Calculator | Feb 27, 2019 | Selecting:
A flood plain is an area of land adjacent to a stream or river that experiences flooding during periods of high discharge. Watch this video and it’ll make sense. If you live in a flood plain lenders will require that you have flood insurance before...
by Net Sheet Calculator | Feb 27, 2019 | Selecting:
As we show you in this video, an inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction and mechanical systems of the house and will make you aware of only repairs that are needed. The Inspector...
by Net Sheet Calculator | Feb 27, 2019 | Credit:
As we show you in this video, a credit bureau score, or “credit score” is a number based upon your credit history that represents the possibility that you will be unable to repay a loan. Lenders use it to determine your ability to qualify for a...
by Net Sheet Calculator | Feb 27, 2019 | Credit:
Watch this video and take a few notes! There are three major credit reporting companies: Equifax – www.equifax.com 1-800-685-1111 Experian – www.experian.com 1-888-397-3742 Trans Union – www.transunion.com 1-800-916-8800 Obtaining your credit...
