by Net Sheet Calculator | Feb 27, 2019 | Financing:
Watch this video and take a few notes! First, devise a checklist for the information from each lending institution. You should include: the company’s name and basic information the type of mortgage minimum down payment required interest rate and points...
by Net Sheet Calculator | Feb 27, 2019 | Mortgages:
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...
by Net Sheet Calculator | Feb 27, 2019 | Sales Process:
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 example if neighbors are all 4 bedrooms,...
by Net Sheet Calculator | Feb 27, 2019 | Sales Process:
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 substantially? How...
by Net Sheet Calculator | Feb 27, 2019 | Title and Closing
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...
by Net Sheet Calculator | Feb 27, 2019 | Title and Closing
What you’ll see in this video is, there may be closing costs customary or unique to a certain locality but closing costs are usually made up of the following: Attorney’s or escrow fees (Yours and your lender’s if applicable) Property taxes (to...
by Net Sheet Calculator | Feb 27, 2019 | Financing:
RESPA stands for the Federal Real Estate Settlement Procedures Act. This video tells you about it all. RESPA requires lenders to disclose information to potential customers throughout the mortgage process. By doing so, it protects borrowers from abuses by...
by Net Sheet Calculator | Feb 27, 2019 | Financing:
Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you’ll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal a copy of...
by Net Sheet Calculator | Feb 27, 2019 | Title and Closing
What is title insurance and why should any buyer get it when purchasing a home (single family, townhouse, condo, apartment, or whatever format your home purchase takes)? Doesn’t the attorney or settlement company handling the closing see to...
by Net Sheet Calculator | Feb 27, 2019 | TRID
Real estate transactions require taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while “transfer taxes” may be imposed by states, counties and municipalities on...
