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WELCOME
to this month's real estate update. In this issue you'll find helpful tips for the home owner. Whether you're ready to buy, sell, or just need a few tips for around the house, it's all here.


Be sure to visit each month to see new articles, and updates!

QUESTIONS and answer database can help you get started. VIEW

TERMS and definitions database.  VIEW

 

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INTEREST RATES: Negotiable?

Lenders and Investors will sometimes negotiate on the interest rate and points, but it isn't common with established lenders.  Like any product, you should check around and know the current market.  Become an informed borrower.

What is a mortgage banker?
A banker who originates, sells, and services mortgages in the secondary mortgage market.

What is a mortgage broker?
An individual or company which brings borrowers and lenders together for the purpose of loan origination, but which does not originate or service the mortgages. The broker might also negotiate with the lender to try and find the best possible financing deal possible for the borrower.

Different lenders will be motivated by different qualifications.  Where some will be credit score driven, other will concentrate more on income and debt ratios.

When shopping for a loan, make use of all possibilities such as newspapers and the internet.  Another source will be your real estate agent.  Your agent will be able to give you information, and leads on where to get more information.

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