Step 2 – Buying a Utah Home – Financing and Budgeting

Realty Experts Utah

Step 2 – Buying a Utah Home – Financing and Budgeting
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Once you decide that you want to buy a house, now we have to figure out how to pay for it. Before you go to a lender, sit down and determine what your budget is and how much per month you are willing to pay for a mortgage payment. This is very important to know first. In a addition, prioritize your budget in what is most important to be paid first. Reason being, if you find the perfect Utah home for $50 a month higher than budgeted, then maybe the $50 Slurpee budget may have to go. Priorities are very important to revisit with each decision.

Once, you know your budget then sit down with an experienced loan officer. (Preferably some one who has been in the business for a long time through the good and bad.) Here they…

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4 Things Buyers Can Do To Minimize Surprise

Andria Allen

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When people say they hate surprises, it’s a little bit like when someone says they don’t like change. Most people actually love change and surprises – so long as the changes are pleasant or they perceive the surprises to be in their favor.  It’s really only unpleasant surprises that agitate, irritate and frustrate the average person.

This is true in life – and it’s certainly true in home buying.If your agent surprises you with dozens of homes that have amenities far beyond your wish list for $50,000 below your budget, I’m sure you’ll find a way to make peace with that. But if you get a call from your mortgage broker the day before you have to bring in an extra $3,000 more than you expected, chances are good you’ll be disgruntled, at a minimum. Fortunately, that means that there is actually a pretty short list of unpleasant surprises which…

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How Much Do I Need?

How much do I need?” is the second article of my series title The First Timer. While there are a few specific loan types that allow 100% financing, they will be covered at another time. Those loan types are USDA, VA, 80/20 or 80/10/10 loans. It is important to note that although they allow 100% financing, it doesn’t mean you can’t have any money and get into a home. There are certain criteria you must meet and certain asset levels you must be at.

Down Payment: This is one of my favorite questions. The bare minimum for FHA and Conventional loans is 3.5% of the sale price to put down. This is your skin in the game. While 3.5% is the minimum down, mortgage insurance will be required and your rate will be higher to reflect the increased risk. While you have to pay mortgage insurance whether you…

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Step 3 – Buying a Utah Home – Understand the Process – Utah Realty Experts

Realty Experts Utah

285480_va_home_usa_7Always understand the process before you ever see a home. The main reason is buying a homes can be exciting. So exciting, that once you find a house you like then all you care about is getting that house. Before you know it you are signing papers you have never seen, writing a check to who knows and then hoping in 30 or 40 days that someone will hand you a key.

This is not how to buy a house. Without the proper information in the beginning, then you are about to go on an emotional roller coaster. It is very important to sit down with a real estate professional and understand the whole process.

Here is a small list of important and needed questions:

1) What is a Short Sale and how do they work? Is it realistically possible to actually get one?

2) What is a HUD home…

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5 Tips for Selling Your Home During the Holidays

minnrealtors

Selling Your Home During the Holidays

The holiday season is often considered the worst time to sell your house. While selling in the snowy months may feel like the equivalent of receiving a lump of coal in your stocking, the season does have its advantages: holiday buyers tend to be more serious and competition isn’t as intense with fewer homes on the market. If you are indeed set to sell, then put on your best holiday sweater and cheerful smile as you follow these 5 tips for selling during the holidays.

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