How much do I have to pay a Realtor to help me find a home?

Normally a Buyer doesn't pay a Realtor for their services.  The Brokerage fee is paid by the Seller, at Closing.  This is a good reason why Buyers should enlist a Realtor to help them find the property they are looking for.  Realtors have alot of information available on real estate that is on the market and they are well trained to protect the welfare and rights of their clients.




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Will owning a home give me a tax break?

While it's always a good idea to check with a tax professional who knows your situation, in most cases you will receive a mortgage interest deduction. Unless your loan is more than $1 million, you can fully deduct the mortgage interest you pay on your home.




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What is equity?

Equity is the difference between what your home is worth and what you currently owe if you were to pay it off. For example, if today’s market value of your home is $200,000 and your mortgage payoff balance is $150,000 then you have $50,000 of equity in your home.




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Two things to do before you go to a mortgage lender

I recommend you do the following before you visit the mortgage lender. First, it is tougher to qualify for the best rates if you're carrying a lot of revolving debt, such as credit card balances. Pay those down as much as possible. Second, make sure your credit report is free of blemishes that can damage your chances of borrowing.




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How long does it take to buy a house?

Once you have found the home you want to purchase, it will take approximately 45 days before you close and can move in. During this time, the title company is preparing the Title Commitment, the lender is putting together and getting approval on the loan, an appraiser is sent out to determine the value of the home, and you can have a home inspector do an inspection on the home.


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How do I know what mortage amount I can afford?

As a general guideline, your monthly mortgage payment, including principal, interest, real estate taxes and homeowners insurance, should not exceed 28 percent of your gross monthly income. This varies depending on what other debt and expenses you have.




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What is a HUD Home?

A HUD home is a residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.


HUD stands for The United States Department of Housing and Urban Development.


Call Lisa Baumberger for all of your real estate needs 208-5560