What is escrow and do you need it?

What is an Escrow Account? An escrow account is an account set up with monthly payments to fund a home’s recurring costs. The most common recurring home costs are homeowner’s insurance premiums and property taxes. An estimated annual amount is generated and divided up into twelve monthly payments. The annual amount is reviewed each year […]

Home Appraisal Under Asking

Home Appraisal Under Asking Price With low interest rates and low home inventory come higher home prices but what happens when a home is appraised lower than asking price and why does the appraised value matter? What is an appraisal? Lenders use appraisals to assess the fair market value of a home and affirm it […]

Selling In A Seller’s Market

While it is a great feeling to be selling a home in a seller’s market, there are still a few things to avoid to ensure a successful closing.    1. Asking the right questions. Even if the buyer claims to be pre-approved, the deal might fall through due to financing conditions unrelated to the property. […]

Home Improvements That Increase Value

As the weather warms up, many homebuyers contemplate improvement projects both indoors and outdoors. It is important to identify why you are making changes. Is it for personal comfort or increased home value? Often the answer will be both. So how do you identify what will give you the greatest return on your investment? Consider […]

Landscaping Upgrades and Home Value

Spring is right around the corner causing many homeowners to contemplate landscaping updates. What project will  get  you the most return on your investment? According to a study from the National Association of Realtors, the top four landscaping projects that add the most value to your home while providing the most impact on your happiness are: overall […]

What is an appraisal?

Appraisals are very commonly required by lenders. First time home buyers often ask us what is an appraisal and why do I need one? An appraisal ensures you aren’t overpaying for the property and protects the lender from over-lending. While many mortgage loans still require an appraisal, there are a few instances where one might […]

What is PMI and how can I avoid it?

Private Mortgage Insurance (PMI) is required if you put down less than 20%. Though PMI has a bad reputation, it is not always negative. It provides borrowers with the opportunity to purchase a home when they do not have the cash on hand for the full 20%. Here, Paul explains why lenders require PMI and […]

Ideal Credit Scores

Credit scores. We all have one, but what score do you need to get a mortgage loan? Your score can mean the difference between approval and denial for sure, but it can also factor into how difficult the approval process will be. Paul breaks down the acceptable scores and the ideal ones that will help […]

How Much Down Payment Do I Need?

One of the most common questions we get from first time home buyers is “How much down payment do I need?” The quick answer is you don’t need 20% down. Click the title to hear Paul explain the 4 options. 4 Options: VA Loan: 0% USDA: 0% Conventional: 3% FHA: 3.5%