Top 10 Post-Closing To-Dos
Store closing papers in a safe yet accessible place
Safe deposit boxes, in-home safes and locking filing cabinets are only a few options for secure storage.
Change the locks
Your new home once belonged to someone else. Family members, neighbors and even builders or HOA member…
Seller Concessions or Price Reduction
With the real estate market shifting from being seller dominated to more buyer-friendly, price reductions and seller concessions are starting to make a comeback. As a buyer, which of the two options gives you the most benefit? Let’s start by defining and examining the benefits of these terms.
A …
metroDPA Social Equity Program
metroDPA offers funds available for the purchase of a home if you are a resident or direct resident of someone who lived in a Denver redlined area between 1938-2000. If eligible, up to $25,000 can be used toward the purchase of a home in approved cities/counties throughout the front range. These …
2/1 Rate Buydown
While you’ve probably heard of buydowns or temporary buydowns before, you may have questions on what these terms truly mean.
A 2-1 buydown is a mortgage loan option in which the seller or builder reduces the homebuyer’s interest rate for the first two years of the loan. In year one, the interest…
Determining Your Ideal Mortgage Budget
Setting a budget is one of the first things potential home buyers should do to set themselves up for success through the purchase process. Two of the most important items to consider are cash to close and total monthly payment. The key is to find the right balance between the two as each affects …
FHA Loans: The 100 Mile Rule
FHA loans are great for those with a lower down payment, less than perfect credit, a bankruptcy in the last 7 years, modest income, buying a 2–4-unit home, etc. However, an FHA loan may not be an option for many looking to add to their real estate portfolios, especially those looking to utilize t…
What Buyers Should Know About Fixed-Rate Loans
Throughout the home buying process, there may be several mortgage-based terms mentioned that are either new or haven’t been part of a familiar conversation for quite some time. One of the most frequently discussed phrases during this time is the fixed-rate loan.
A fixed-rate mortgage is designed…
Adjustable Rate Mortgages in Today’s Environment
The term Adjustable-Rate Mortgages (ARMs) may carry a sense of apprehension for potential homebuyers. However, ARMs are some of the best loan products in today’s current environment, specifically for Jumbo Loans (defined as a loan greater than $684,250 throughout most of the United States).
What…
The Five Things You Need To Know About VA Loans
If you are an active or retired member of the United States military you may be eligible to qualify for a VA home loan, which offers great benefits that can make purchasing a home easier than you might think. However, there are many things to consider when applying for one, so it’s important to t…
Ready to Move Your Money? Don’t Let Avoidable Pitfalls Ruin Your Closing Day
Closing Day is set! You’ve done it, you’re excited, your loan is “clear to close”, and ALL you have left to do is deliver your closing funds to the title company. No worries, you can just write a personal check, right? WRONG. Here are some common mistakes homebuyers can avoid when preparing down …
