Some houses are sold directly by owners in Flushing Queens when owners prefer to do everything themselves without involving real estate agents. On average, 5-6 percent of all Queens homes are FSBO. Agents generally may not show these FSBO homes Read more…
Coming up with 20% for a down payment helps you avoid having to buy private mortgage insurance (PMI). For down payments less than 20% of the purchase price, the mortgage lender will require you to buy PMI. Why is the Read more…
As an incentive for buying newly constructed homes, developers are likely to offer buyers a mortgage rate buydown to finish the deal. This action is similar to paying off a point upfront. However, it is the developer who is subsidizing Read more…
The borrower would want to compensate the family member for lending the money. This interest rate could be a fair rate that is lower than what the traditional banks charge and higher than the Applicable Federal Rate (AFR). A good Read more…
Besides getting a buyer rebate when working with the right buyer agents, they are often the ones that know their local real estate market like the back of their hand. They have a way of knowing who’s interested in selling Read more…
Owning a home comes with a big financial responsibility such as mortgage payments. Lenders like to see a debit-to-income ratio under 43%. The best recommended route is to tighten up your debts such as credit card balances. Clear any loans Read more…
Putting a larger down payment onto a home purchase helps lower the loan-to-value (low LTV) ratio. It also means the borrower is less likely to walk away from making mortgage payments if they already put down a large sum of Read more…
Sellers in New York generally choose to pay the $500 closing credit to the buyer rather than completing the NYS Property Condition Disclosure Statement. Sellers feel that the disclosure statement may discourage potential buyers instead of fueling interest from potential Read more…
Imagining where your home will be built by the developer does not have to be as difficult as it appears when choosing a square on a development map. Select the higher grounds away from the bottom of the hill to Read more…
Older homes are generally less expensive than newer homes. Since you paid less for an older home, when it is time to sell, their resale value will be less than newer homes as well. Older homes have higher quality original Read more…