How much of a down payment will you need to purchase a home?
The minimum down payment required depends on the loan program you select. Most lenders offer loans with various down payment options, including no down payment and low down payment programs.
How often do mortgage interest rates change?
Due to market fluctuations, interest rates are subject to change daily. Many lenders will allow you to lock and/or float the interest rate once you have been approved for a loan. Check with your lender about any interest rate protection they may offer.
Should the real estate agent representing the Buyer disclose a known flooding problem?
If the real estate agent representing the Buyer knows of a flooding problem, must they disclose this information to the buyer? Is it unethical if they do not? Real estate agents are not going to be as familiar with a property as the seller. If you received a Transfer Disclosure Statement and either the listing […]
Does flood damage need to be disclosed by the seller?
When buying a home, if there has been flooding that results in damage and it has not been fixed, must that be disclosed to the buyer? Does this need to be disclosed if 1. The buyer does not ask about flooding. 2. the Buyer does ask about flooding? Disclosure rules vary from state to state, […]
How do I determine if my house will increase in value within the next five years so that we can upgrade?
I need to buy a house with a good resale value. How do I determine if my house will increase in value within the next five years so that we can upgrade? I can buy a smaller house in a great location or get twice as much house in a good location. Which is a […]
When buying a new home, what upgrades should we go for?
When buying a new home, what upgrades should we go for? What holds the most value? Do we upgrade the lot? Pick more square footage in the house? Add an extra bedroom?, etc.A lot depends on why you are buying the house. Are you buying it mostly as a home or mostly as an investment? […]
How do I choose between an updated home in an older neighborhood and a newer home in a more modern neighborhood?
I have to make a choice between an updated home in an older neighborhood or a newer home in a more modern neighborhood. The home in the older neighborhood has almost everything I want and is much larger, but which makes the most sense as an investment? If your goal is to buy a home […]