16 Mistakes That Sellers Make When Listing Their Home

price reduced

When the market favors buyers, as it does today, it is important to do everything possible to avoid the common mistakes which often lead to homes sitting on the market. Without question price is the most important aspect of getting your home sold, and the most common mistake that sellers make. Here is a list of common mistakes and how best to avoid them. Pricing Your Home Too High Solution: Price is almost everything! We are area experts and can research comparable sales in your area and advise you of the appropriate price range of your … [Read more...]

All About Down Payments

downpayment

An important aspect of getting a home loan is saving money for your down payment. You have many choices to make your home more affordable to you. Lenders used to require a down payment of at least 20% of the home's price. These days, however, many lenders offer flexible home loan programs allowing you to put very little down -- three percent or less of the home price. For some buyers it used to be possible to buy a home with no down payment at all, or to receive help from local down payment assistance programs. With the recent problems with … [Read more...]

The Difference Between Being Pre-Qualified and Pre-Approved

loan

Pre-Approval and Pre-Qualification - Information for First Time Home Buyers Is pre-approval a general endorsement by a bank? No, when you are pre-approved, it is for a specific loan program from a specific lender. Not all lenders offer all loan programs. You may need to get approved with a different lender or for a different loan program with the same lender, depending on your financing options at the time you buy a house. Check with the agent or broker who helped you gain loan pre-approval before you write an offer. If you think you will … [Read more...]

It Pays To Explore The Ins & Outs Of Title Insurance

insurance

When you bought or refinanced your home, did your mortgage lender require a lender’s title insurance policy? Since virtually all mortgage lenders require title insurance, except perhaps a few who are unaware of their high risk, the answer is almost surely “yes.” Today, more than 50 percent of home loan originations are refinances. Although home sellers sometimes pay for title insurance, when a home mortgage is refinanced, it’s the homeowner’s responsibility to buy the lender’s title insurance policy. Most homeowners feel title … [Read more...]

Understanding the Loan Process

home loans

Finding Out How Much You Can Borrow Your maximum loan amount depends on many factors, including: How much you can afford for monthly payments. The appraised value of the property. The amount of equity in your home, if you're refinancing. How much money you have available for closing costs and a down payment (if you're purchasing). Your credit history. Choose a loan that's right for you Countrywide Home Loans’ Full Spectrum® Lending Division offers many home loan  options. We have instant information and friendly tools … [Read more...]