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October 2018

Found 3 blog entries for October 2018.

  • By Steve Rockefeller 

The most recent National Association of Realtors profile shows that 40 percent of repeat buyers and 66 percent of first-time homebuyers are putting less than 10 percent down. Understanding all of your low-down-payment mortgage options may aid you in obtaining a mortgage while helping to save money.

Different types of mortgages can be tailored to purchase a home. If you’re looking to use a conventional loan and you made a down payment of less than 20 percent of the home’s value, you’re probably going to need mortgage insurance, commonly known as PMI. If using, for example, a government FHA loan, you’re going to need mortgage insurance, known as MIP. Confusing I know.

With the lowest of

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Do you think that FSBO, or "For Sale By Owner" sounds easy?

Or even if it's just a bit of work on your end as the seller, it will TOTALLY be worth the money you save.... right?

Not so fast... check out this honest writeup from the National Association of Realtors:

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You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s regret” when they see how much less they get for their properties.  Some may want to avoid paying an agent's commission—but even factoring that in, FSBOs still stand to make less on their home sale. “Talk to an agent and find out what they suggest for the commission, and then do the math

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All Cash Offers are on the rise nationwide according to a recent Washington Post Article.     As All Cash offers become more common here in Hampton Roads you may be wondering, Is a Cash Offer Better for a Seller in Today's Market Conditions? We will address this from both Buyer and Seller positions. Today lets take a look at the buyer's side of the transaction.   Cash Buyer Considerations:   Pro: A faster closing and move in may be possible since underwriting a loan is not needed.  Pro: Under the right conditions a cash offer may motivate a seller to accept less for a home.  Pro: Paying cash may broaden the choices for available homes since mortgage condition guidelines will not be a factor.   Con: Be Sure your finds…
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