Real Estate Articles Worth Reading
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Real Estate Articles Worth Reading
Scoop.it for Real Estate. See real estate articles worth reading about buying and selling a home from many sources from around the internet including the http://www.maxrealestateexposure.com blog.
Curated by Bill Gassett
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Fixed Rate vs. Adjustable Rate Mortgages Compared

Fixed Rate vs. Adjustable Rate Mortgages Compared | Real Estate Articles Worth Reading | Scoop.it
See a detailed comparison of fixed rate mortgages vs. adjustable rate mortgages. What are the pros and cons of these mortgage programs.
Bill Gassett's insight:

Do you know the primary differences between a fixed and adjustable rate mortgage? When interest rates are on the rise an adjustable rate becomes far more popular.

 

While interest rates tend to be lower with an adjustable mortgage, they can move up quickly when the adjustment period comes up.

 

See everything you need to know including the pros and cons about these mortgages at Active Rain.

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What Does a Lender Consider a Good Credit Score

What Does a Lender Consider a Good Credit Score | Real Estate Articles Worth Reading | Scoop.it
What to Know About Credit Scores When Buying a House Are you looking to enter the realm of homeownership? When you are looking for a mortgage, lenders pay a lot of attention to your credit score. One of the most vital things to do before buying a home for the first time is to get your finances i
Bill Gassett's insight:

When buying a home one of the more vital considerations is getting your financial house in order. This includes making sure you pay all your bills on time and now taking out large loans.

 

One of the largest driving forces in giving a borrower their interest rate and mortgage terms is the credit score they have. Given how much weight is placed on credit scores it makes sense to work on them prior to purchasing a home.

 

In the article at Realty Times, see a rundown of what lenders think is a good credit score. You will see what is considered a good credit score and a bad one as well. You will also see some excellent tips on how you can improve your score before purchasing a house.

 

Putting in the effort to increase your score will be well worth your time.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:41 PM

When buying a home one of the more vital considerations is getting your financial house in order. This includes making sure you pay all your bills on time and now taking out large loans.

 

One of the largest driving forces in giving a borrower their interest rate and mortgage terms is the credit score they have. Given how much weight is placed on credit scores it makes sense to work on them prior to purchasing a home.

 

In the article at Realty Times, see a rundown of what lenders think is a good credit score. You will see what is considered a good credit score and a bad one as well. You will also see some excellent tips on how you can improve your score before purchasing a house.

 

Putting in the effort to increase your score will be well worth your time.

Beacon Innovation's curator insight, June 3, 2021 1:08 AM
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How Does a Home Construction Mortgage Work

How Does a Home Construction Mortgage Work | Real Estate Articles Worth Reading | Scoop.it
Construction Loans – What You Need to Know Are you considering getting a home construction loan? When building your own house, chances are you will need to get a construction loan. If you have ever gotten a mortgage before, you have some familiarity with how complex the loan application process can be. If anything, the process of getting a construction loan is even more complicated. Plenty of people are approved for construction loans, though, so it’s certainly something you can succeed at if you are prepared. Many times, those who are taking out a construction loan have previously purchased land,
Bill Gassett's insight:

Are you contemplating buying a piece of land to build your dream home? If so, you are not alone. Lots of folks would love to be able to find a lot and build their home from scratch.

 

When doing a construction project while owning your own land it is quite common to take out what is known as a construction loan. In the article at Maximum Real Estate Exposure, you will get an in-depth understanding of everything you need to know about this type of financing.

 

Having a strong grasp of construction loans is vital so you do not make mistakes that can cost you time and money. Take a look and if you find the information useful, please share it with someone that may need it.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:41 PM

Are you contemplating buying a piece of land to build your dream home? If so, you are not alone. Lots of folks would love to be able to find a lot and build their home from scratch.

 

When doing a construction project while owning your own land it is quite common to take out what is known as a construction loan. In the article at Maximum Real Estate Exposure, you will get an in-depth understanding of everything you need to know about this type of financing.

 

Having a strong grasp of construction loans is vital so you do not make mistakes that can cost you time and money. Take a look and if you find the information useful, please share it with someone that may need it.

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What to Know About Getting a Credit Report

What to Know About Getting a Credit Report | Real Estate Articles Worth Reading | Scoop.it
Get Your Credit Report FREE! Are you interested in learning how to get a free credit report? How about a free credit score? Your credit report is an important financial document that you should review at least once a year. There are three leading credit reporting companies that produce credit reports, Equifax, Experian, and TransUnion. Your credit report contains so much vital information – like your standing with different creditors – that you want to make sure that everything on the report is accurate. But if you never review your report, you won’t know if a company has reported something
Bill Gassett's insight:

When you are going to be buying a home for the first time, one of the essential considerations is your credit score. Those who have the best credit scores generally get the best interest rates and mortgage terms from lenders.

 

Given the importance of your credit score, it is vital to do what you can to improve it. First-time buyers would also be wise to make sure their credit report is accurate as a mistake can have a devastating impact on your score?

 

Did you know that you can get a free credit report one time a year?

Well, you can! In the article at Maximum Real Estate Exposure, see what you need to know about getting a hold of your free credit report.

 

Once you have it in hand do your best to check for errors and take action if you discover there are any.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:43 PM

When you are going to be buying a home for the first time, one of the essential considerations is your credit score. Those who have the best credit scores generally get the best interest rates and mortgage terms from lenders.

 

Given the importance of your credit score, it is vital to do what you can to improve it. First-time buyers would also be wise to make sure their credit report is accurate as a mistake can have a devastating impact on your score?

 

Did you know that you can get a free credit report one time a year?

Well, you can! In the article at Maximum Real Estate Exposure, see what you need to know about getting a hold of your free credit report.

 

Once you have it in hand do your best to check for errors and take action if you discover there are any.

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Mortgage Terms Ever Home Buyer Should Know

Mortgage Terms Ever Home Buyer Should Know | Real Estate Articles Worth Reading | Scoop.it
Mortgage Terms You Need to Know When Buying or Selling a Home Whether you are buying or selling a home, there are specific 'mortgage terms' that are essential to understand. The mortgage process can be intimidating, and no wonder, since you are trying to qualify for what is likely the most substantial loan you have ever requested. Fortunately, with sufficient research and a helpful lender, you can do like so many others have done before you and successfully navigate the path to becoming a homeowner. Below you will find a list of thirty-five common mortgage terms that will be useful
Bill Gassett's insight:

When you are going to be buying a home there will be numerous financial terms that you will encounter in the process. It is vital that you have at least a basic understand of most of these terms.

 

In the article at Maximum Real Estate Exposure, you will see a comprehensive review of some of the more common mortgage jargon that buyers will come across. When you visit you'll see thirty-five of the most essential mortgage terms to understand.

 

If any of these terms are confusing it would behoove you to speak with either a competent mortgage broker or real estate agent for clarification.

 

Make any kind of serious mortgage mistake could be costly.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:43 PM

When you are going to be buying a home there will be numerous financial terms that you will encounter in the process. It is vital that you have at least a basic understand of most of these terms.

 

In the article at Maximum Real Estate Exposure, you will see a comprehensive review of some of the more common mortgage jargon that buyers will come across. When you visit you'll see thirty-five of the most essential mortgage terms to understand.

 

If any of these terms are confusing it would behoove you to speak with either a competent mortgage broker or real estate agent for clarification.

 

Make any kind of serious mortgage mistake could be costly.

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What To Know About VA Loans

What To Know About VA Loans | Real Estate Articles Worth Reading | Scoop.it
What are the benefits of a VA loan? See all the advantages of getting a VA mortgage from no down payment to relaxed credit score requirements and more.
Bill Gassett's insight:

Are you considering purchasing a home in the near future? If you are a veteran or are currently serving in the military, you might want to consider using VA financing?

 

What is a VA mortgage you might be wondering? VA loans are for those who have or are serving our country at the moment.

 

Those who are serving do get some mortgage perks by using a VA mortgage. Do you want to learn more about them?

 

Take a look at all of the advantages of a VA Mortgage. Without a doubt, a VA loan is worth exploring. There are costs with getting a mortgage that you won't have to pay with a VA loan vs going conventional financing.

 

One of the significant costs with conventional financing is private mortgage insurance. With a VA mortgage there is no private mortgage insurance!

 

Over at Maximum Real Estate Exposure, you'll see a complete breakdown of all the other advantages with using VA mortgage financing.

 

Visit the link above for a complete breakdown. If you enjoy the article, you can also give it a scoop or share it in your social media channels.

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Avoid Paying Private Mortgage Insurance

Avoid Paying Private Mortgage Insurance | Real Estate Articles Worth Reading | Scoop.it
See how to avoid paying private mortgage insurance. There are ways not to pay PMI including putting 20% down, a piggyback loan, getting LPMI and others!
Bill Gassett's insight:

When home buyers set out to purchase their first property they typically will meet with a mortgage broker and get pre-approved for a loan.

 

Excellent mortgage brokers will explain all the costs and fees associated with obtaining a mortgage. One of the things borrowers will quickly here about is what's known as private mortgage insurance or PMI.

 

Private mortgage insurance is a fee lenders charge when a borrower does not put down at least a 20 percent down payment. The fee or insurance as it's known protects the lender in the event of a default.

 

From a buyers standpoint, this is an unnecessary fee that drives up the cost of owning a home. For this reason, buyers will often ask how to avoid paying PMI. Is it possible to avoid paying private mortgage insurance when you don't have a 20 percent down payment? It is sure is possible!

 

In the article, you will see some of the ways home buyers can avoid having to pay private mortgage insurance. Keep in mind it may not make sense to not pay PMI.

 

Each individual borrower should go over their finances in detail with their mortgage broker. A complete analysis should be done to see how paying and not paying private mortgage insurance affects the total cost of the loan.

 

You may find that paying the PMI makes more sense. Also keep in mind that you can get rid of your private mortgage insurance once you have 80 percent equity in your home.

 

Lenders are also required to automatically remove PMI once an owner has 78 percent equity.

 

Take a look and if you find this article helpful, please consider scooping it or sharing to your social networks.

Bill Gassett's comment, December 22, 2016 7:35 PM
Thanks for the scoop @Barry Lieberman
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Selling a Home With a Reverse Mortgage

Selling a Home With a Reverse Mortgage | Real Estate Articles Worth Reading | Scoop.it
See how to sell a home with a reverse mortgage. Step by step guide to getting your home sold when you have a reverse mortgage to deal with.
Bill Gassett's insight:

One of the things that both seniors and their relatives often ask is whether or not selling a home with a reverse mortgage is different than selling one without this type of loan.

 

Do you need to do anything special when you are selling a home with a reverse mortgage? Given there are many seniors and their families who are often wondering about this subject I decided to write an article on how to sell a home with a reverse mortgage. While there are some special things you need to be concerned with when selling a home with this type of mortgage product there are also some tried and true selling tips you should follow.

 

Anyone who has sold a home in their life should understand that the agent who is selected to represent them is very important. It can easily make the difference on whether you are successful or not.

 

Other than selecting the right real estate agent there is nothing more important than pricing the home properly. In fact it is probably the #1 thing by far when selling a home.

 

These two criteria are discussed at length in the article. Beyond some of the prudent home selling advice for any property, there is also specific advice as it pertains to those with a reverse mortgage.

 

One of the unique circumstances that is mentioned is when a home owner is under water and does not have any equity in the home. This is something that is possible especially with a reverse mortgage.

 

Take a look and if you find the article helpful please consider scooping it or sharing within your social networks. This will be very helpful for seniors and/or their families.

 

You will also see a link to an article that gives an in-depth discussion on all the pros and cons of having a reverse mortgage in the first place.

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TRID and Mortgage Documents Buyers Must Sign

TRID and Mortgage Documents Buyers Must Sign | Real Estate Articles Worth Reading | Scoop.it
Make sure you understand the 4 important mortgage documents buyers must sign as part of TRID regulations.
Bill Gassett's insight:

Buying a home today is a lot different than years ago. Buyers are expected to sign a ton of mortgage documents that they were not required to in years past. Every year it seems like there is something added to the stack of papers buyers sign.

 

One of the complaints over the years from buyers purchasing homes and getting a mortgage was the disclosed costs. Many felt the amount of fees and costs they were required to spend was not spelled out well enough.

 

This led to mortgage reform which is now known as TRID. TRID was put in place to protect buyers from paying undisclosed fees associated with purchasing a home.

 

As part of TRID buyers are expected to sign 4 mortgage documents. These four mortgage documents are known as the loan estimate, closing disclosure, promissory note and security instruement.

 

In the article you will learn about each of the TRID mortage documents buyers must sign. Each of these documents are explained in detail. With TRID in place buyers have a much better handle on the fees they will be paying.

 

The one downside to TRID, however, has been the increased time it takes to close a loan. Nobody wants delays when it comes to something as important as a closing. When buying a home this is a major date you plan your life around.

 

Buyers however have learned the hard way how unkind TRID can be to there plans of closing on time. Take a look and see all there is to know about TRID as well as the documents buyers will be required to sign when taking out a mortgage.

 

If you find the article helpful please consider sharing it socially or giving it a scoop.

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Suggested by Tom Horn-Real Estate Appraiser
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What Are FHA Mortgage Requirements For Pools?

What Are FHA Mortgage Requirements For Pools? | Real Estate Articles Worth Reading | Scoop.it
Birmingham, AL real estate appraiser Tom Horn discusses the FHA rule for swimming pools and what is required to meet appraisal guidelines.
Bill Gassett's insight:

If you are setting out to buy your first home and do not have a large down payment you may decide to opt for what is know as FHA financing. One of the beautiful things about FHA mortgages is the ability to only put down a small amount of money.


With an FHA loan you are able to put down a 3.5% deposit. Of course this is attractive to many borrowers. FHA loans however do come with some strings attached that a conventional loan may not have.


In his latest article @Tom Horn-Real Estate Appraiser

takes a look at some of the requirements of FHA mortgages with properties that have a pool. This is very useful information to both buyers and sellers.


One of the worst things about buying and selling homes is surprises! Nobody likes them in real estate because they are usually not pleasant and cause a lot of stress.


if you are going to be buying or selling a home with a pool have a look at Tom's article and if you enjoy it give it a scoop!


You will see all that you need to know regarding regulations surrounding pools and FHA loans.

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How to Remove PMI?

How to Remove PMI? | Real Estate Articles Worth Reading | Scoop.it
Do you know how to get rid of private mortgage insurance on your home? See what you need to know about eliminating private mortgage insurance (PMI).
Bill Gassett's insight:

What is private mortgage insurance? Does PMI mean the same thing? How long do I have to have private mortgage insurance?


Buyers who are purchasing a home for the first time and putting less than 20 percent down are more than likely going to find out they need to pay what is referred to as private mortgage insurance or PMI.


Private mortgage insurance is a fee usually paid monthly by a homeowner. This is type of insurance protects the lender in the event of a default by an owner.


One thing that should be made abundantly clear - there is no benefit for a homeowner paying PMI. Having to pay private mortgage insurance offers no perks whatsoever. In fact paying this fee is like throwing money out the window every month!


Savvy homeowners often will ask how to get rid of private mortgage insurance. They understand the fact the only benefiting from this fee being paid is the lender. Removing PMI can save quite a bit of money. There is no wonder so many people want to know how eliminate it as quickly as possible.


In the article you will see a comprehensive explanation of how to remove the private mortgage insurance payment. Basically it can be removed once you find yourself with 80 percent equity.


You can see how this is determined in a lengthy explanation. If you find the article helpful please consider sharing it socially and scooping it!

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How Not to Overpay For a Mortgage

How Not to Overpay For a Mortgage | Real Estate Articles Worth Reading | Scoop.it
How to avoid overpaying for a mortgage. Getting the best mortgage terms is usually a goal of most borrowers. See how to get the best loan terms possible.
Bill Gassett's insight:

When buying a home most people need to get some type of mortgage loan. Only the very rich are typically making an all cash purchase when buying property.


The terms and conditions you get for your mortgage will play a large role in the overall costs of purchasing a home. Given this it makes sense to spend time researching the ways to get the best mortgage loan terms and conditions. Lot of folks do not take the necessary time and energy to seek out the best rates.


The obvious thing you can do to increase your chances of getting the best loan terms is to shop the mortgage to multiple lenders. What is really important is understanding how various terms can affect the overall cost of what you are actually paying.


For example one lender may have the best interest rate but if that same lender charges significantly higher closing costs it defeats what you have gained in a lower rate.


You really need to understand the overall costs in a loan to truly appreciate what you are actually getting. Remember the longer you stay in a home the more the terms and conditions you get matter.


Over the life of the loan the mortgage conditions you settle on can really make a difference. In the article I share of all my best tips on how to get the best terms for your particular financing needs.


You will also see some other very helpful financing articles from @madisonmortgage

@madisonmortgage@Kyle Hiscock

@Kyle Hiscock@Anita Clark

@Anita Clark@Karen Highland

and others. If you find the article helpful please consider re-scooping the article to your followers!


madisonmortgage's curator insight, October 22, 2015 1:13 PM

How to Shop For a Mortgage and What to Look For


With so many lenders and mortgage programs to choose from, this guide will help you shop smarter

Don't overpay for your mortgage. Take @Bill Gassett's advice in this super informative article on how to shop for a mortgage to get the very best terms and conditions!

http://www.maxrealestateexposure.com/how-to-avoid-overpaying-for-a-mortgage/

Bill Gassett's comment, October 22, 2015 1:16 PM
Thanks very much for the scoop @madisonmortgage!
madisonmortgage's comment, October 22, 2015 1:34 PM
My pleasure @Bill Gassett!
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Mistakes First Time Home Buyers Make

Mistakes First Time Home Buyers Make | Real Estate Articles Worth Reading | Scoop.it

When you have never bought a home before it is easy to make financial mistakes.

Bill Gassett's insight:

Buying a home for the first time can bring with it lots of joy. After all a home is more than a structure you live in but a place where lasting memories are built. Unfortunately for some however those memories can start to be become nightmares if certain steps are not taken when buying a home for the first time.


As a first time home buyer one of the most important things you can do when you begin your search is to find a quality real estate agent to work with. The advice you receive from a top notch agent can be priceless. Never underestimate the differences in skill levels with various Realtors - they can be night and day!


There are many common mistakes that first time home buyers make. Many of these blunders can be easily avoided when you receive good counseling. Buyers should have all of their financial ducks so to speak in order before they ever think about looking at their first home seriously. Getting in touch with a good mortgage broker is a good first step.


When buying a home for the first time and working with a mortgage broker you should seek out and get a pre-approval letter not a pre-qualification. In the article you will see a complete understanding of these two distinct kind of mortgage letters.


You will also learn some of the other commonplace pitfalls that should be avoided as a first timer. This article is sure to enlighten you on what you should not be doing!

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Considerations When Getting a Home Mortgage

Considerations When Getting a Home Mortgage | Real Estate Articles Worth Reading | Scoop.it
See some helpful tips on how to get a mortgage. Learn the process of getting financing when you are going to be buying a home.
Bill Gassett's insight:

Are you planning on buying your first home? If so, you will likely want to know how to go about getting the best mortgage for your needs and circumstances.

 

Getting a mortgage will be one of the most crucial steps in the home buying process. It will be prudent to have a sound understanding of some of the nuances of financing.

 

In the article at Active Rain, get some excellent tips on how to get a mortgage as a first-time homebuyer. You will undoubtedly love the tips for procuring your first mortgage. Make sure you get a great mortgage broker to work with and ask lots of questions.

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Why Get an FHA Loan

Why Get an FHA Loan | Real Estate Articles Worth Reading | Scoop.it
What Are The Advantages of an FHA Loan? See all the reasons why an FHA could be beneficial when buying a home.
Bill Gassett's insight:

Are you planning on getting into the real estate market for the first time? Buying your own home can be an exciting venture. Along with homeownership though comes financial responsibility.

 

One of your first tasks in the home buying process will be getting financing. You should plan on getting pre-approved for a mortgage before you even set foot in a home. Proving you are qualified to all home sellers will be an essential step.

 

One of the financing options that will be worth checking out is an FHA loan. An FHA mortgage offers quite a few advantages. In the article at Active Rain, see all the benefits of having an FHA loan, including the ability to have a low down payment. With an FHA mortgage, you will only be required to put 3.5% down. There are other perks as well including having relaxed credit scores.

 

Without FHA mortgages there would be far fewer homeowners. When speaking to a mortgage broker ask them if an FHA loan may be right for your current circumstances.

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Options to Buy With Low or No Down Payment

Options to Buy With Low or No Down Payment | Real Estate Articles Worth Reading | Scoop.it
Low and No Down Payment Mortgage Options
Bill Gassett's insight:

Are you excited about the prospects of becoming a first time homeowner? Have you been wanting to own a home but felt you were locked out of the real estate market?

 

If so, you are not alone. One of the most significant stumbling blocks to become a first time home buyer is coming up with a down payment. For some it is truly too difficult to save what they need for they need. For others there is a lack of education about down payment requirements.

 

Many buyers have no idea that there are still low and no down payment mortgage options. A significant portion of the population still thinks a twenty percent down payment is required.

 

In the article at Vocal Media, the curtain is put aside on the down payment requirements. You will learn where you can get financing that requires little or no money down.

 

If you have been wanting to purchase a home get yourself educated on the process, as well as what it takes to prepare financially to be the next homeowner.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:42 PM

Are you excited about the prospects of becoming a first time homeowner? Have you been wanting to own a home but felt you were locked out of the real estate market?

 

If so, you are not alone. One of the most significant stumbling blocks to become a first time home buyer is coming up with a down payment. For some it is truly too difficult to save what they need for they need. For others there is a lack of education about down payment requirements.

 

Many buyers have no idea that there are still low and no down payment mortgage options. A significant portion of the population still thinks a twenty percent down payment is required.

 

In the article at Vocal Media, the curtain is put aside on the down payment requirements. You will learn where you can get financing that requires little or no money down.

 

If you have been wanting to purchase a home get yourself educated on the process, as well as what it takes to prepare financially to be the next homeowner.

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What Questions Will a Lender Ask You

What Questions Will a Lender Ask You | Real Estate Articles Worth Reading | Scoop.it
What Questions Can You Expect from Lenders? Applying for a mortgage can be an intimidating thing—you know they are going to ask you a lot of questions, request numerous documents, and it’s probably going to feel like you must jump through many hoops to get a loan. Of course, if you are like many homebuyers, you need a loan to make your purchase. That means going through the lending question, and answer process is inevitable. Fortunately, applying for a home loan is not as bad as it might first appear. Sure, it can be stressful—answering questions about your finances usually
Bill Gassett's insight:

Are you going to be purchasing a home for the first time? Doing so can be an exciting venture for sure. Buying a home can also be emotionally charged when things do not go well.

 

One of the things most buyers will need to go through is procuring a mortgage. Today, getting a home loan is not as easy as it used to be. There are quite a few hoops to jump through.

 

It is essential for buyers to be aware of the most common questions that a lender will ask when granting a mortgage. In the article at Maximum Real Estate Exposure, you will see an in-depth run down of all the questions a lender is likely to ask.

 

As a borrower it is important to have an understanding of the answers to these questions. Make sure you also are doing a good job of vetting the lender as well and asking them your own questions.

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What to Ask Your Mortgage Broker

What to Ask Your Mortgage Broker | Real Estate Articles Worth Reading | Scoop.it
What to Ask When Getting a Loan Before you start looking at homes, it's wise to get your selection of a lender squared away first. Part of being prepared to get a loan is asking your mortgage company the right questions. When you first start looking for a lender to help you buy a home, it is normal to feel like it’s a one-way street—you need the money, so anyone who will offer it to you seems like a someone you should do your best to listen to. But in reality, you are an essential customer for your lender. Your
Bill Gassett's insight:

When purchasing a home, one of the most important aspects is the financing. For home buyers, there are literally hundreds of options.

 

Should you go with a fixed or adjustable rate mortgage? Does going with a thirty year, fifteen years or some other time frame mortgage make the most sense?

 

Being educated on the mortgage process with be a critical component to your financial success. Therefore it is imperative to have questions to ask your lender lined up ahead of time.

 

The lender you choose with have financial ramifications that will affect you for a long time. It makes sense to take the time and do your due diligence when selecting a lender.

 

The questions you ask will go a long way in making the absolute best choice. The reference above provides a great article found on Maximum Real Estate Exposure that will explain what you should be asking.

 

Make sure that you get the answers you are looking for to these detailed set of questions.

 

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:43 PM

When purchasing a home, one of the most important aspects is the financing. For home buyers, there are literally hundreds of options.

 

Should you go with a fixed or adjustable rate mortgage? Does going with a thirty year, fifteen years or some other time frame mortgage make the most sense?

 

Being educated on the mortgage process with be a critical component to your financial success. Therefore it is imperative to have questions to ask your lender lined up ahead of time.

 

The lender you choose with have financial ramifications that will affect you for a long time. It makes sense to take the time and do your due diligence when selecting a lender.

 

The questions you ask will go a long way in making the absolute best choice. The reference above provides a great article found on Maximum Real Estate Exposure that will explain what you should be asking.

 

Make sure that you get the answers you are looking for to these detailed set of questions.

 

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Mortgage Advice For First Time Buyers

Mortgage Advice For First Time Buyers | Real Estate Articles Worth Reading | Scoop.it
See the best mortgage tips for first time home buyers. Use these first time home buying tips to make smart decisions when purchasing your first home.
Bill Gassett's insight:

Buying a home for the first time can be exciting and nerve racking all at the same time. There is a huge learning curve when buying a home which makes it very easy to make mistakes.

 

In fact, without having a mortgage professional and a solid real estate agent in your corner the likelihood of making a financial mistake is high.

 

Of course nobody want to make a financial mistake! This is why you will see some great advice published online. The latest article at Maximum Real Estate Exposure is no exception.

 

Take a look as Luke Skar has share twelve mortgage tips for first time home buyers. You will see timely guidance on what you should and shouldn't do when buying a home for the first time.

 

Many of the tips focus in on the financial aspect of buying a home. When you follow these first time buyer tips you will be in a much better position to have a smooth purchase.

 

You will find many mortgage tips for first time buyers that you might never have considered. Luke has been in the mortgage business for quite a while so he knows a thing or two about providing solid guidance.

 

If you enjoy these first time home buyer tips, please consider sharing to your social media accounts or on Scoop.it.

b54wp4xg3u@privaterelay.appleid.com's curator insight, February 22, 2021 9:44 PM

Buying a home for the first time can be exciting and nerve racking all at the same time. There is a huge learning curve when buying a home which makes it very easy to make mistakes.

 

In fact, without having a mortgage professional and a solid real estate agent in your corner the likelihood of making a financial mistake is high.

 

Of course nobody want to make a financial mistake! This is why you will see some great advice published online. The latest article at Maximum Real Estate Exposure is no exception.

 

Take a look as Luke Skar has share twelve mortgage tips for first time home buyers. You will see timely guidance on what you should and shouldn't do when buying a home for the first time.

 

Many of the tips focus in on the financial aspect of buying a home. When you follow these first time buyer tips you will be in a much better position to have a smooth purchase.

 

You will find many mortgage tips for first time buyers that you might never have considered. Luke has been in the mortgage business for quite a while so he knows a thing or two about providing solid guidance.

 

If you enjoy these first time home buyer tips, please consider sharing to your social media accounts or on Scoop.it.

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Credit Score Verification Before Buying a Home

Credit Score Verification Before Buying a Home | Real Estate Articles Worth Reading | Scoop.it
Make sure you check your credit score before buying a home. Credit scores influence the mortgage rates and terms when buying a home. Errors are very common!
Bill Gassett's insight:

Did you know your credit score plays a large role in the interest rate you will receive from a mortgage lender? Did you also know that credit scores often are wrong due to errors in your report?

 

Yes it is amazing when you start doing some research and see just how much a mistake in your credit report can hurt your score. This little fact will then come back to bite you in the form of higher rates on your mortgage when buying a home!

 

This makes it vital to check your credit report before you ever consider looking at homes. Chances are you could be another statistic of people who do not have the right information on their report.

 

In the article you will see all of the considerations on what you should be doing when it comes to your credit score. There is also helpful information on what it will take to get any credit report errors fixed.

 

Your credit score is not something you should take lightly. By taking the time to get errors fixed you increase the odds of getting better interest rates on your loan which in the long run can put a lot of money back in your pocket.

 

Take a look and if you enjoy the article please consider either Scooping it or sharing on your social networks.

Bill Gassett's comment, July 27, 2016 7:25 PM
Appreciate the scoop!
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Reverse Mortgage Advantages and Disadvantages

Reverse Mortgage Advantages and Disadvantages | Real Estate Articles Worth Reading | Scoop.it
What are the pros and cons of a reverse mortgage? See both the advantages and disadvantages of this loan product for seniors.
Bill Gassett's insight:

Probably one of the most confusing loan products to may people is what is known as a reverse mortgage. Reverse mortgages allow those seniors who are 62 years of age or older to tap the equity in their home in the form of a monthly payment.

 

Instead of paying a mortgage to live in your home the lender pays you from your equity to stay in the property, hence the term reverse mortgage.

 

There are however many pros and cons of a reverse mortgage that anyone considering this type of loan product should understand! In the article you will see a detailed description of both the advantages and disadvantages of using a reverse mortgage.

 

There is also a very helpful video that gives you some samples of how reverse mortgages work. If you have ever considered getting a reverse mortgage this is an article you will not want to miss.

 

Seniors who embark on getting a reverse mortgage should also understand there are a number of scams floating around. When getting a reverse mortgage it is imperative to work with a reputable mortgage company and not someone you saw advertising on late night television.

 

Besides the helpful guide to reverse mortgage products you will also see some other interesting financial resource articles from Kyle Hiscock, Luke Skar and Paul Sian.

 

If you find the article helpful, please consider either giving it a scoop or share on one of the other social networks. The more people that truly understand how reverse mortgages work the better!

Bill Gassett's comment, May 10, 2016 9:39 AM
Appreciate the share of the pros and cons of a reverse mortgage!
madisonmortgage's comment, May 10, 2016 1:28 PM
You bet @Bill Gassett, thanks for the great information!
Bill Gassett's comment, August 4, 2016 10:43 AM
Thanks for the scoop @Virginia Miros
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Jumbo Mortgage Loan Myths Debunked

Jumbo Mortgage Loan Myths Debunked | Real Estate Articles Worth Reading | Scoop.it
Thanks to the improving luxury housing market, jumbo loans have made a rebound. Inside you will find the top 5 jumbo mortgage myths.
Bill Gassett's insight:

In the real estate and mortgage sectors there are always myths that continue to circulate. When people are not educated properly by a professional these myths end up becoming reality.

 

In their latest article Inlanta Mortgage points out some of the luxury home buying myths. Many of these so called myths are tied into the mortgage market and specifically jumbo mortgage loans.

 

Many people has impressions about these loans that are not accurate. One of the most common myths is that jumbo loans are only for the rich and therefore are hard to get. This is completely false!

 

There is also a prevailing belief that the interest rate tied to these loans is exorbinant. This is also not the case. These are just two of the many myths that surround the jumbo mortgage loan product.

 

Take a look as Luke Skar shares a number of other myths about these loans. There are also some excellent resources from other top real estate bloggers from around the country worth checking out as well.

 

If you find the article to be helpful please consider giving it a scoop or sharing it socially in your other channels.

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How FHA Mortgage Can Create Issues For Home Sellers

How FHA Mortgage Can Create Issues For Home Sellers | Real Estate Articles Worth Reading | Scoop.it
Do you know how FHA loans can be problematic for home sellers? See a review of how an FHA could be a stumbling block for a home owner.
Bill Gassett's insight:

Let me first by making it clear that I am an advocate for FHA mortgages. In fact without FHA loans there would be tons of buyers who would not be able to purchase homes!


FHA financing is attractive to a borrower because it allows you to only put 3.5% as a down payment. There are many people who would not be able to qualify to purchase a home without an FHA loan product.


As a seller however it is very important that you do your due diligence when selling to a buyer getting an FHA mortgage. FHA mortgages can present problems for home sellers. We cover five major things that can create havoc for a seller in this comprehensive article.


One of the more common issues is the fact that a property must meet certain condition standards in order to pass muster with FHA loans. In the article you will see what you have to pay attention to as a home owner.


The other real common issue that can rear it's ugly head during a home sale is an appraisal issue. With an FHA loan there is no room for error because the borrower is typically only putting down 3.5%. Someone using FHA financing rarely has the ability to put down more money.


So if there is an issue with value the sale is going to fall apart unless the seller reduces their price. There are 3 other problems that can come up when selling to someone with FHA financing as well.


Take a look at the article along with a couple of good references to articles from @madisonmortgage

@madisonmortgageand @Kyle Hiscock

as well. If you enjoy this article please consider sharing it to your audience.

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Where To Get a Mortgage When Rejected

Where To Get a Mortgage When Rejected | Real Estate Articles Worth Reading | Scoop.it

Getting a mortgage today than it used to be ten years ago. Lenders are much more vigilant on lending to those who are the best candidates for a mortgage. Does this mean that it is impossible to get a loan? No of course not! It is however possible to get rejected for a mortgage when you really shouldn't be.

























Bill Gassett's insight:

Getting a mortgage today is far more difficult than in years past and with good reason. When the real estate markets melted down 7-10 years ago their were a lot of lenders left holding the bag with borrowers who defaulted on their loans. The banks lots millions of dollars.


Much of this problem was created by lenders themselves by giving money to buyers who had no business having it. All of that has changed with more lenders having different lending standards.


It is however possible that you have the ability to take on a mortgage but for whatever reason the lender decides they don't want you as part of their lending portfolio.


So what do you do when a lender rejects your mortgage application? Is the ball game over? Are you left with continuing to rent instead of buying? The answer is NO! There are other means of securing financing.


In the article you will see a detailed explanation of how you can get a mortgage when your preferred lender says no.


You will also see some excellent resources from other top real estate and mortgage experts including @madisonmortgage

@madisonmortgageand @Anita Clark


Take a look and if you find the article helpful please consider scooping it to your audience!

madisonmortgage's curator insight, October 22, 2015 1:11 PM

If you're wondering what to do next after you have been turned down for a mortgage, this article by @Bill Gassett will give you a ton of insight into your options!

http://www.nuwireinvestor.com/opportunities/where-to-get-a-loan-when-a-mortgage-lender-says-63113.aspx

Portugal Real Estate Homes's curator insight, November 4, 2015 2:32 PM

Read on

Bill Gassett's comment, November 4, 2015 4:34 PM
Appreciate the scoop @Portugal Real Estate Homes!
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Low Down Payment Doesn't Mean a Buyer Isn't Qualified

Low Down Payment Doesn't Mean a Buyer Isn't Qualified | Real Estate Articles Worth Reading | Scoop.it
A small down payment doesn't mean the buyer is not qualified when purchasing a home. There are many popular low and no down payment loans today.
Bill Gassett's insight:

Over the years you learn that many homeowners have preconceived beliefs on some topics that are complete myths. One of them is the fact that a low or no down payment buyer is less qualified than someone who is putting more money down.


This could not be further than the truth. It is a belief that is completely false. Not only does this belief trip up numerous sellers but also a fair share of real estate agents as well.


Not only are there numerous mortgage products that are designed for those who do not have large sums of money to put down but also a percentage of buyers who just choose not to.


In fact some of these people are overqualified and choose not to put down a big down payment because they either want to use the money elsewhere for investment purposes or to get a larger tax deduction. Some of these people are really smart.


A low or no down payment does not mean a buyer is less qualified. This is what the article aims to dismiss. Take a look and you will see a detailed explanation about certain loan products that are perfect for low and no down payment options. These include FHA, VA and USDA loans.


Over my twenty eight years of selling real estate I have never has a borrower using one of these financing vehicles not get a loan.


The article explains why these products are so good and can make sales come together. Take a look and also make sure you check out the other mortgage references from @Kyle Hiscock and @madisonmortgage. Without a doubt this will be an eye opener if you were under the impression that a 20 percent down borrower is always more attractive.

madisonmortgage's comment, July 30, 2015 1:07 PM
Great article @Bill Gassett. Thanks for the mention @Kyle Hiscock!
Bill Gassett's comment, July 30, 2015 1:08 PM
Thanks for sharing @madisonmortgage!
madisonmortgage's comment, July 30, 2015 1:11 PM
You bet @Bill Gassett!