- Are you sure you want to buy a house?
There is no disputing that you have always wanted to buy a house. Family and friends have also told you that it is the right decision to take. You must make it absolutely sure for your self, consult family and friends, get an idea of the happenings around in the home buying market. - Choose the most convenient location
Proximity to work place or kids' school? Questions like these will be aplenty. Set your priorities and weigh the pros and cons. The area chosen influences the property value you are trying to buy. - Take help of professionals.
Most happy and successful buyers have taken the help of realtors. Agents are experienced and can understand your needs better and faster. Identify and meet a few realtors before you settle to work with someone you can trust and are comfortable. - Get pre-approved
Getting pre-approved is a must. Pre-approval means that your credit worthiness will be assessed by the lender (bank). This would help you figure out exactly, the amount of funds available and how much you will be able to afford. - Pick the most suitable loan product
Many loan programmes are available with your lender. Depending on your comfort level, work with your highest loan eligibility as value of your house depends on it. - Decide along with your family.
Prioritize the amenities you want in the house. Understand what your family needs and likes. Involve your family while making the decision. - Think long term
If are planning on adding to your family, then it should be considered while making your decision. Plans of moving base would mean you should buy in an area having high resale value. Factors like these are important while making the decision. - Make your offer once you find the house.
Be sure to revisit the options you have chosen from all you have seen. Once you have a final pick, make your offer so that you do not lose time unnecessarily. Good houses would not be staying in the market for long. - It is good to get the house inspected and obtain house warranty
Get an inspector to inspect the house so as to be assured that all amenities are in good condition. Request your seller to purchase a house warranty covering a wide range. - Take the help of experienced movers when it is time to shift
You can always have family and friends to help you move, but it is wise and saves you time if you get professionals to help you. They are trained and will make your transition easier.
Friday, February 22, 2008
Tips on Buying your Dream Home
Most of us have always wanted to live in that "dream" house which we'd
like to call our home. We'd have nurtured this idea from a very young age and
it has grown stronger with time. This is the first time and don't know where
to begin! Surely, these tips and pointers should help you in making your dream
decision.
Thursday, February 14, 2008
Foreign Buyers Should Opt for Tampa Real Estate
The website of Forbes has featured an article which displayed homes found all throughout the globe. These homes can be purchased for $1M. Homes like these within the metropolitan areas of Europe are usually single-bedroom apartments located near the town’s center. But if you buy a million dollar house in Tampa, you will get a mansion within a properly-planned community. The value of the dollar has depreciated significantly within the world market. Because of this, it is not difficult to comprehend why real estate investment within the country provides wonderful opportunities to foreign investors and buyers.
Residential properties have seen a decline when it comes to its general sales. However, foreign buyers and investors can still benefit if they plan to buy real estate within Florida or Tampa. For one, they own a home at one of the world’s famous tourist destinations. Second, there are plenty of properties within the city of Tampa which are close to its international airport. What is more, foreigners have several options to choose from. They can take a pick from multi-family or single-family properties. They can choose to purchase real estate close to the beach or inland. If the property is for investment reasons, the best choices would be those which are located near the coast.
Foreign investors should purchase Tampa real estate immediately; especially when the property market is setting to pull through after a dreary year. Another reason why they should make a choice now is the stability of the economy of Florida and the country. The potential recovery of Tampa’s real estate market has been looked into by foreign investors. This is matched with the eagerness of several sellers to sell their property right away.
The high inventory of unsold real estate in Tampa provides international investors the chance to avail of discounts. This is due to the fact that agents and sellers have a lot of competition to deal with. The increasing number of foreign investors and buyers is anticipated to neutralize real estate sales. What is more, this is also expected to jumpstart even higher sales; which will eventually make the total real estate market of the state recover from its loss.
Residential properties have seen a decline when it comes to its general sales. However, foreign buyers and investors can still benefit if they plan to buy real estate within Florida or Tampa. For one, they own a home at one of the world’s famous tourist destinations. Second, there are plenty of properties within the city of Tampa which are close to its international airport. What is more, foreigners have several options to choose from. They can take a pick from multi-family or single-family properties. They can choose to purchase real estate close to the beach or inland. If the property is for investment reasons, the best choices would be those which are located near the coast.
Foreign investors should purchase Tampa real estate immediately; especially when the property market is setting to pull through after a dreary year. Another reason why they should make a choice now is the stability of the economy of Florida and the country. The potential recovery of Tampa’s real estate market has been looked into by foreign investors. This is matched with the eagerness of several sellers to sell their property right away.
The high inventory of unsold real estate in Tampa provides international investors the chance to avail of discounts. This is due to the fact that agents and sellers have a lot of competition to deal with. The increasing number of foreign investors and buyers is anticipated to neutralize real estate sales. What is more, this is also expected to jumpstart even higher sales; which will eventually make the total real estate market of the state recover from its loss.
Saturday, February 09, 2008
Tampa Down Payment Assistance Programs
By far a rocky market, Tampa Bay real estate buyers are increasing finding that they need to cough up larger down payments if they need to realize their American Dream of buying a home. If you are a first time home buyer, who is stressed about coming up with the necessary down payment amount for that elusive home in Tampa, then take solace in the fact that there are Tampa down payment assistance programs available for home buyers like you.
If you want to buy your first property and don’t have the fund to fully satisfy the down payment requirement then you’ll have to consider if any of the available down payment assistance programs will prove to the right option or not.
Currently, there are two types of down payment assistance programs available for first time home buyers who are interested in buying a home in Tampa or any other area of Florida. The first one is an assistance program that is offered by non-profit agencies and programs. Then there are down payment assistance programs that are sponsored by the federal government as well as state government.
As per these down payment assistance programs, the seller has to agree to give a small amount of the total sales proceeds towards your down payment at the time of deal closing. While Fed and state laws prohibit sellers from paying money directly to buyers, these assistance agencies offers ways to achieve this legally.
When a seller enrolls in a Tampa down payment assistance program, they need to be fully aware of the fact that this means a reduction in total amount that they will receive from the sale. Nevertheless, the seller also realizes that without such down payment assistance programs, their house may stay on the market for a considerable period of time.
If you don’t get a seller who is willing to participate in such a program, you may also consider state bond and grant programs. Perhaps, these programs can offer you the ideal solution for your down payment crisis!
If you want to buy your first property and don’t have the fund to fully satisfy the down payment requirement then you’ll have to consider if any of the available down payment assistance programs will prove to the right option or not.
Currently, there are two types of down payment assistance programs available for first time home buyers who are interested in buying a home in Tampa or any other area of Florida. The first one is an assistance program that is offered by non-profit agencies and programs. Then there are down payment assistance programs that are sponsored by the federal government as well as state government.
As per these down payment assistance programs, the seller has to agree to give a small amount of the total sales proceeds towards your down payment at the time of deal closing. While Fed and state laws prohibit sellers from paying money directly to buyers, these assistance agencies offers ways to achieve this legally.
When a seller enrolls in a Tampa down payment assistance program, they need to be fully aware of the fact that this means a reduction in total amount that they will receive from the sale. Nevertheless, the seller also realizes that without such down payment assistance programs, their house may stay on the market for a considerable period of time.
If you don’t get a seller who is willing to participate in such a program, you may also consider state bond and grant programs. Perhaps, these programs can offer you the ideal solution for your down payment crisis!
Saturday, February 02, 2008
Tampa – A Fun Place to be with Your Whole Family
Raising a family demands an environment where each family member can enjoy life and feel at home. That place must have all the amenities of a highly modern city yet have a touch of tranquility like suburban communities. The place must enable the family to grow, by promoting recreational family activities as well as quality entertainment and pastimes for different age groups. The place must give a solid educational foundation for the youth in addition to providing stable income levels and jobs for the breadwinners. Such a place where living, working, and playing grow harmoniously together could only be Tampa.
Tampa is bordered by the Gulf of Mexico, lining the shores by at least 28 miles of world class white sand beaches. With the huge variety of beaches, you can bring your whole family and relatives to have fun under the sun and never grow tired of being in only one beach. These white sand beaches are perfect for family outings, with countless activities to enjoy. You can work your tan with your daughter by sunbathing in one of Tampa’s beaches. You can have a father and son bonding experience by going on fishing trips. Or have your teenage kids go for hip activities such as jet skiing, parasailing, diving, and snorkeling. Bring the entire family on boating trips for a relaxing time, while feasting on succulent seafood. The weather is perfect for beach going all year round, with winter coming in only every two to three years.
Dads can enjoy a really good time playing in the world renowned golf courses. Dads can also enjoy the authentic cigars and crisp sandwiches which can only be acquired at the historic Ybor City just near Tampa. For moms, they can shop till they drop in various classy malls in Tampa, like the International Plaza, or take have a relaxing dining experience at Waterside café and other fine restaurants. The kids will also have a grand time at Big Red Sightseeing Adventures, where you can take them for hot balloon rides. Teens will definitely party all night long at the posh Soho district and Channelside.
Local events include the exciting Gasparilla Pirate Festival and the annual Florida State Fair. There are also venues like gardens, aquariums, and museums, including the Museum of Science and Industry which has the captivating IMAX theatre. Hyde Park, an upscale district in Tampa, has many fine shops, restaurants, and theatres. With countless other venues for live musical and sports performances, entertainment for the whole family can never be so convenient and diverse.
For those sports enthusiasts, there are many notable sports teams situated in Tampa. Enjoy the good old American sports experience with your family as famous professional teams in basketball, football, hockey and baseball are in Tampa most of the time to have frequent live competitions. Neighboring cities like Orlando and Miami also offer great entertainment in sports and are just a few hours drive away from Tampa. The local Tampa teams in different sports include the renowned Tampa Bay Buccaneers, Lightning, and Devil Rays.
Tampa has excellent schools for building successful careers, which includes exclusive universities such as University of Tampa, Florida Metropolitan University, and the University of South Florida. These schools offer excellent academic training as well as top-notch sports programs. Aside from these, Tampa has the Performing Arts Center is the largest cultural center in the eastern states. Whether in academics, in arts, or in sports, you children will be sure to develop their skills and have the adequate training and experience they need to face the world.
Tampa is bordered by the Gulf of Mexico, lining the shores by at least 28 miles of world class white sand beaches. With the huge variety of beaches, you can bring your whole family and relatives to have fun under the sun and never grow tired of being in only one beach. These white sand beaches are perfect for family outings, with countless activities to enjoy. You can work your tan with your daughter by sunbathing in one of Tampa’s beaches. You can have a father and son bonding experience by going on fishing trips. Or have your teenage kids go for hip activities such as jet skiing, parasailing, diving, and snorkeling. Bring the entire family on boating trips for a relaxing time, while feasting on succulent seafood. The weather is perfect for beach going all year round, with winter coming in only every two to three years.
Dads can enjoy a really good time playing in the world renowned golf courses. Dads can also enjoy the authentic cigars and crisp sandwiches which can only be acquired at the historic Ybor City just near Tampa. For moms, they can shop till they drop in various classy malls in Tampa, like the International Plaza, or take have a relaxing dining experience at Waterside café and other fine restaurants. The kids will also have a grand time at Big Red Sightseeing Adventures, where you can take them for hot balloon rides. Teens will definitely party all night long at the posh Soho district and Channelside.
Local events include the exciting Gasparilla Pirate Festival and the annual Florida State Fair. There are also venues like gardens, aquariums, and museums, including the Museum of Science and Industry which has the captivating IMAX theatre. Hyde Park, an upscale district in Tampa, has many fine shops, restaurants, and theatres. With countless other venues for live musical and sports performances, entertainment for the whole family can never be so convenient and diverse.
For those sports enthusiasts, there are many notable sports teams situated in Tampa. Enjoy the good old American sports experience with your family as famous professional teams in basketball, football, hockey and baseball are in Tampa most of the time to have frequent live competitions. Neighboring cities like Orlando and Miami also offer great entertainment in sports and are just a few hours drive away from Tampa. The local Tampa teams in different sports include the renowned Tampa Bay Buccaneers, Lightning, and Devil Rays.
Tampa has excellent schools for building successful careers, which includes exclusive universities such as University of Tampa, Florida Metropolitan University, and the University of South Florida. These schools offer excellent academic training as well as top-notch sports programs. Aside from these, Tampa has the Performing Arts Center is the largest cultural center in the eastern states. Whether in academics, in arts, or in sports, you children will be sure to develop their skills and have the adequate training and experience they need to face the world.
Tuesday, January 22, 2008
The Market Trend in Tampa Real Estate
When you are looking into real estate, there are various choices to take a pick from. It might be hard for you to choose, especially if you have not narrowed down your selection. In order to make this decision easy for you, select a real estate which will benefit you greatly. Purchase a property which is located in a safe neighborhood. Of course, the activities that the city or state offers should exciting and fit for people of all ages. You will be able to find these when you opt to buy a Tampa real estate.
The activities and attractions that Tampa offers are so varied that you will be able to find an activity which suits your interests. If you are into sports, you can watch the football, hockey, or baseball team of the city in live action. When you want to hang out at night, you can check out Ybor or Channelside. If you want simple fun with your family, you can go to gardens, beachfronts, or community parks.
The market of real estate in Tampa has seen trends which are similar with the real estate market all throughout Florida. There has been a natural shift from the market of the seller to the buyer. Since the inventory keeps on piling up increasingly, this has lead to the decrease of sale costs. If you are investing on real estate, you will be able to find vast investment opportunities when you choose Tampa real estate.
As of the month of July 2006, Tampa has seen a purchase of 510 homes at an average cost of $245,000. On the other hand, the total average price of real estate in Florida is $257,000. This indicates that real estate in Tampa is relatively lower compared to the properties within the other metropolitan neighborhoods all throughout the state. July 2005 has seen a sale of 872 houses. As of the current year, there has been a 42 percent decrease to the total number of houses closed. During the end of the month, there have been a total number of 4,413 homes which have been put up for sale. Because of the huge number of sold homes, Tampa real estate is offering wonderful opportunities for investors.
The activities and attractions that Tampa offers are so varied that you will be able to find an activity which suits your interests. If you are into sports, you can watch the football, hockey, or baseball team of the city in live action. When you want to hang out at night, you can check out Ybor or Channelside. If you want simple fun with your family, you can go to gardens, beachfronts, or community parks.
The market of real estate in Tampa has seen trends which are similar with the real estate market all throughout Florida. There has been a natural shift from the market of the seller to the buyer. Since the inventory keeps on piling up increasingly, this has lead to the decrease of sale costs. If you are investing on real estate, you will be able to find vast investment opportunities when you choose Tampa real estate.
As of the month of July 2006, Tampa has seen a purchase of 510 homes at an average cost of $245,000. On the other hand, the total average price of real estate in Florida is $257,000. This indicates that real estate in Tampa is relatively lower compared to the properties within the other metropolitan neighborhoods all throughout the state. July 2005 has seen a sale of 872 houses. As of the current year, there has been a 42 percent decrease to the total number of houses closed. During the end of the month, there have been a total number of 4,413 homes which have been put up for sale. Because of the huge number of sold homes, Tampa real estate is offering wonderful opportunities for investors.
Tuesday, January 15, 2008
Mortgage Loans in Buying a House in Tampa
Tampa, Florida is an ideal place to live in. Tampa has plenty of fantastic white sand beaches. Aside from the renowned beaches, Tampa offers fun and relaxation to the weary individual. Various bars and night spots await you, as well as fabulous cuisine and fine dining. If you love sports, you’ll surely love the local Tampa teams from different sports which are known nationwide. If you want to linger and relax, try the famous golf courses with their perfected greens. Tourists from all places love to spend their vacations here in Tampa. In fact, having a home in Tampa is one of the most ideal aspirations of many people all over the world.
You should try and invest on real estate in Tampa. You can start by applying for mortgage loans. Most people use mortgage loans to purchase a house of their choice. With flexible paying schemes, mortgage loans help finance a new home one way or another.
Avoid mortgage fraud by being better prepared in your mortgage application. Since the rise of mortgage fraud, lenders are tightening their standards by demanding few credit report blemishes and high credit ratings from your account. A number of foreclosures and defaults all point to mortgage fraud. Having false documents on mortgage application is prohibited by law and thus applications are given greater scrutiny.
Getting your mortgage application to be approved requires being prepared and having the complete legitimate documents. There are tips in avoiding mortgage fraud and getting you that mortgage loan that you desire. First of all, you should get your credit report. Thoroughly evaluate your credit report for any bad records in payment that can stall your application and even get it rejected. Next, know the cost of real estate that you wish to purchase. Learn what you can afford by verifying from lenders and mortgage brokers information about the possible amount of mortgage you will receive from your property.
Consider other mortgage companies that give you the best value for your property. Always remember that the overall cost of housing includes not only the price and interest of mortgage payment, but also other fees such as insurance, electric and water bills, maintenance, and repairs. Another advice would be to have backup savings. Lenders are critical at checking if you emptied all your savings account. You need to show that you still have buying and spending power for insurance and other fees. Ready all your documents and prepare backup files. You will never know what information they will seek and it is best to be prepared with all the necessary files to answer any of their questions. Lastly, be available at all times. Allow them to contact you in case they have queries and clarifications.
In mortgage loans, you must submit personal information to make you eligible for approval. Becoming pre-approved means that your documents and information are verified and you are now one final step from receiving your mortgage loan. Once you reach this point, you can now start selecting target houses. The sellers will be more open to you since you have good credit potentials. They will also be more reassured since you already have a pre-approved mortgage.
Call 813-671-6657 or visit us online for all your Tampa Real Estate questions.
You should try and invest on real estate in Tampa. You can start by applying for mortgage loans. Most people use mortgage loans to purchase a house of their choice. With flexible paying schemes, mortgage loans help finance a new home one way or another.
Avoid mortgage fraud by being better prepared in your mortgage application. Since the rise of mortgage fraud, lenders are tightening their standards by demanding few credit report blemishes and high credit ratings from your account. A number of foreclosures and defaults all point to mortgage fraud. Having false documents on mortgage application is prohibited by law and thus applications are given greater scrutiny.
Getting your mortgage application to be approved requires being prepared and having the complete legitimate documents. There are tips in avoiding mortgage fraud and getting you that mortgage loan that you desire. First of all, you should get your credit report. Thoroughly evaluate your credit report for any bad records in payment that can stall your application and even get it rejected. Next, know the cost of real estate that you wish to purchase. Learn what you can afford by verifying from lenders and mortgage brokers information about the possible amount of mortgage you will receive from your property.
Consider other mortgage companies that give you the best value for your property. Always remember that the overall cost of housing includes not only the price and interest of mortgage payment, but also other fees such as insurance, electric and water bills, maintenance, and repairs. Another advice would be to have backup savings. Lenders are critical at checking if you emptied all your savings account. You need to show that you still have buying and spending power for insurance and other fees. Ready all your documents and prepare backup files. You will never know what information they will seek and it is best to be prepared with all the necessary files to answer any of their questions. Lastly, be available at all times. Allow them to contact you in case they have queries and clarifications.
In mortgage loans, you must submit personal information to make you eligible for approval. Becoming pre-approved means that your documents and information are verified and you are now one final step from receiving your mortgage loan. Once you reach this point, you can now start selecting target houses. The sellers will be more open to you since you have good credit potentials. They will also be more reassured since you already have a pre-approved mortgage.
Call 813-671-6657 or visit us online for all your Tampa Real Estate questions.
Saturday, January 12, 2008
TAMPA FAST FACTS
Found on the western coast of central
The best seasons in
Driving a car is the best means of transportation for those who live in
Since it is also the biggest market when it comes to media in
Here are some of the attractions
- Land O’Lakes : where the movie “Edward Scissorhands” was filmed
- The world-famous Skatepark
- American Victory
- Tampa Theatre
- Convention Center and Tourism
If you have any questions call us for immediate assistance. Be sure to visit us often for up-to-date MLS listings for Tampa Real Estate and Northern Virginia Real Estate.
© 2008 Julia Vakulenko and Tampa4U Team
Wednesday, January 09, 2008
Tips on Finding Florida Real Estate Agent
When you look for a Florida Real Estate agent or an agent in any city you want to make sure that they are licensed. There are several things that can make your search easier as well as things you need to look for when looking for an agent.
Here are a few tips to make your search simple:
- Make sure your agent is trustworthy: When you contact an agent keep in mind that they are there to ensure that you get your questions answered in a quick and correct manor. You are placing the search for your dream home in their hand so making sure you can trust them is a something that should be considered.
- Checking to ensure that they are licensed: The agent should be able to answer you honestly. State whether or not they are licensed and they usually have their certificate or licenses on display in their office. Doing a search on that specific agent to see what information comes back is wise as well.
- Making sure the agent is familiar with the area you are interested in: Different areas have different features, types of home, etc… you want to ensure that your agent is familiar with what you are looking for in your home. Your agent should know what houses in that area are going for at that time, what types of houses are for sale in your area of interest, etc…
- Look for ways to contact your agent: if you are looking for an agent make sure they will answer your calls in a timely manor. Find out the ways they will have to contact them if you need too. Sometimes it can be difficult to get a hold of agents. Or a particular client is consuming a lot of their time. They may not be able to get back to you in a timely manor. You should know this in advance.
Finding the right agent can sometime take a while but will prove worth it in the end. Take you time and make sure they are someone you will be able to work with before signing any documents or rushing into anything. You may be glad you did in the end!
If you have any questions call us for immediate assistance. Be sure to visit us often for up-to-date MLS listings for Tampa Real Estate and Northern Virginia Real Estate.
© 2008 Julia Vakulenko and Tampa4U Team
Tuesday, January 08, 2008
Celebrity Buzz: What Do Celebrities Look For in a Home?
Whether it is a Hollywood actor or actress, a famed athlete, or a song diva, there is one thing they all share alike: the comfort of what people call a “celebrity home”. And if there is one thing you notice that all celebrity homes have in common, is that it is built for entertaining.Lest it be forgotten, celebrities choose to live in a house that can entertain not only family and friends, but colleagues, the media, and whoever they please as well. Celebrities like to purchase or build a home that can shine as brightly as they do. The house that they have to live in has to stand as much in the limelight with or without them inside it. What with the furious camera flashes of the paparazzi and a chance for the home to be showcased in television or magazines, the house has to be built with utmost precision, attention to detail, and style.
As good as a celebrity home looks, it cannot be called completely as such unless it’s standing on a great piece of land. Most celebrities choose to build their homes in the posh Beverly Hills, the sun and beach of Maui, or the excitement and adventure of exotic places. Only the best will do for these famous people. They either choose a land that is flocked with other great celebrities, or a land known for its pristine beauty and enriched with culture and history.
The reasons why celebrities build or purchase a house plays a great influence to what the house is going to be like and where it is to be located. The most common reason for celebrities to build their homes is to give them a chance to get away from the busy schedule that often comes with the package of being a famous person. Their house has to be able to entertain their family and the guests they plan to spend their weekend or holiday with.
Space is an important aspect for celebrities to include in their home. The house has to be spacious and yet still have a good stretch of land for them to roam about. The weather also plays a significant part in choosing a celebrity home. A place where there is sun to perfect their tan and a cool breeze to enjoy lounging around for is sure to entice any celebrity.
As they are accustomed to service, the community they choose to live in should have great resources available and accessible for them. Great shops, great spas, great restaurants, and activity areas are all they would need to be lured into living in that community.
Whether it is a vacation home or a permanent residence, all celebrity homes should have privacy. Celebrities prefer homes that provide them the necessary privacy to enjoy their life away from the glaring eyes of the paparazzi.
Some great sports celebrities are already living in a place that offers them all that and more, that is in Tampa Bay, Florida. Tampa Bay offers celebrities great real estate to choose from fit for entertaining even the finest kings. With great hot spots and the sun and breeze to enjoy, celebrities are offered the best of every world.
If you have any questions call us for immediate assistance. Be sure to visit us often for up-to-date MLS listings for Tampa Real Estate and Northern Virginia Real Estate.
© 2008 Julia Vakulenko and Tampa4U Team
Monday, January 07, 2008
Too Late to Refinance your Mortgage?
Mortgage refinance is a phrase that strikes fear in the hearts of many consumers. Everyone is so afraid to do a mortgage refinance that they just don’t get the move on and get it done. Well the simple facts of the matter are that you’ll always find a better rate somewhere else after you’ve just refinanced, and it’s never too late to refinance your mortgage.
The first of those two statements is just one of Murphy’s laws. It’s like when you buy a new pair of sunglasses, and then they go on sale for half price the very next day.
Mortgages are about the same deal. You’ll do a mortgage refinance to save 3%, which is an incredible savings, and you’ll be thrilled. Then next week you’ll see an ad somewhere to get ¼% lower rate than what you just signed for and you’ll be upset about it. Well, I’m here to tell you that there’s two ways of looking at this. You can either be upset that you missed out on the ¼%, or you can be thrilled that you saved 3%. If you’d just sit there worrying about being wrong, or that the rates might go down again soon, you’d still be paying that extra money every month. So don’t wait, call someone and ask questions about mortgage refinance today! You may be surprised at what you’ll learn.
The second statement, it’s never too late, is also true. No matter what the rates are doing, you can go in and ask questions about things. Many people want to refinance to get some equity out of their home, not just to save money. That can be done, even if you don’t lower your rate much. Or even better, you can get a home equity line of credit, and have a revolving account that you can draw on whenever you want. There are tons of different options out there. If your goal is remodeling, or something similar, then a line of credit is a better option than mortgage refinance, unless rates have gone down at least 2% since you signed your old mortgage.
Now, who do you talk to about this? Whatever you do, do NOT go to your commercial bank. Check with a mortgage broker first of all, and talk to them about your situation. Tell them what’s happening, why you want to refinance your mortgage, and what your goals are for this process. They know tons of lenders. That’s what they do. And they can get you approved for almost anything, and find you the best rates available.
If mortgage refinance scares you, just get up and go talk to a mortgage broker. They’ll put it in perspective, tell you about options you never knew you had, and make you a happy customer no matter what the case may be.
The first of those two statements is just one of Murphy’s laws. It’s like when you buy a new pair of sunglasses, and then they go on sale for half price the very next day.
Mortgages are about the same deal. You’ll do a mortgage refinance to save 3%, which is an incredible savings, and you’ll be thrilled. Then next week you’ll see an ad somewhere to get ¼% lower rate than what you just signed for and you’ll be upset about it. Well, I’m here to tell you that there’s two ways of looking at this. You can either be upset that you missed out on the ¼%, or you can be thrilled that you saved 3%. If you’d just sit there worrying about being wrong, or that the rates might go down again soon, you’d still be paying that extra money every month. So don’t wait, call someone and ask questions about mortgage refinance today! You may be surprised at what you’ll learn.
The second statement, it’s never too late, is also true. No matter what the rates are doing, you can go in and ask questions about things. Many people want to refinance to get some equity out of their home, not just to save money. That can be done, even if you don’t lower your rate much. Or even better, you can get a home equity line of credit, and have a revolving account that you can draw on whenever you want. There are tons of different options out there. If your goal is remodeling, or something similar, then a line of credit is a better option than mortgage refinance, unless rates have gone down at least 2% since you signed your old mortgage.
Now, who do you talk to about this? Whatever you do, do NOT go to your commercial bank. Check with a mortgage broker first of all, and talk to them about your situation. Tell them what’s happening, why you want to refinance your mortgage, and what your goals are for this process. They know tons of lenders. That’s what they do. And they can get you approved for almost anything, and find you the best rates available.
If mortgage refinance scares you, just get up and go talk to a mortgage broker. They’ll put it in perspective, tell you about options you never knew you had, and make you a happy customer no matter what the case may be.
If you have any questions call us for immediate assistance. Be sure to visit us often for up-to-date MLS listings for Tampa Real Estate and Northern Virginia Real Estate.
© 2008 Julia Vakulenko and Tampa4U Team
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