What does an appraiser do in a home purchase?

We've been talking about the "team" you will have at your side when you purchase a home. Your Realtor is your coach and gets you on the field by helping you find the right home and negotiating an accepted purchase contract; then monitors performance to make sure everyone is playing their position to their full potential (and obligation). Your teammates will be the title/escrow officer, your lender (if you're financing), your home inspectors(s), and the appraiser. Many people get the home … [Read more...]

How Increased Mortgage Interest Rates Affect You

There is SO MUCH in the news about rising mortgage interest rates lately. It seems like just a moment ago we were seeing mortgage rates hovering around 3.75%. Those days are very likely behind us as we approach 5% and beyond on a more regular basis. While this might seem catastrophic to some, the reality is that rates below 5% are NOT the norm. The average interest rate over the last 50 years is somewhere between 8% and 9%. Regardless of that fact, increased mortgage interest rates will affect … [Read more...]

Trust Your Realtor® To Refer A Mortgage Lender

Wouldn't it be great if we had a money tree we could go to when wanting to purchase a home? The 18 inch high stack of paperwork to sign before closing would be reduced to a few pages. It might take a week  for the sale to finalize instead of the 30-45 day close of escrow that is required when financing a transaction. Most of us don't have the resources to pay cash for a home and a mortgage lender is a large part of a successful home purchase. Read on to find out why you should trust your … [Read more...]