Tag: mortgages

BUYERS: 10 Ways to Prepare for Offering on a Home in a Seller’s Market

December 5, 2012

Metro Denver’s inventory levels have hit record lows and are expected to remain low into 2013.  The number of active single family home listings (Jan 1, 2012 – Oct 31, 2012 compared to the same period for 2011) decreased 29.5% to 8,108.  Where as the number of active condo/town home listings decreased 39.3% to 1,611.  Furthermore, the ABSORPTION RATE for single family homes … More BUYERS: 10 Ways to Prepare for Offering on a Home in a Seller’s Market

Pre-Qualification vs Pre-Approval

December 3, 2012

If you are considering purchasing a home and require lender financing, it is important to know that there is a big difference between a pre-qualification letter and pre-approval letter. Pre-Qualification Pre-Qualification means there have been loan calculations made that show how much you “may” be able to borrow.  While pre-qualification can reduce the processing time for home loans, … More Pre-Qualification vs Pre-Approval

Real Estate Term of the Day: Flood Insurance

April 11, 2012

Real Estate Term of the Day: Flood Insurance FLOOD INSURANCE – an insurance policy that covers property damage due to natural flooding.  Flood insurance is offered by private insurers but is subsidized by the federal government (Barron’s Dictionary of Real Estate Terms) When you purchase your home, your lender will always require a flood certificate … More Real Estate Term of the Day: Flood Insurance

Real Estate Term of the Day: Fixed-Rate Mortgage

April 9, 2012

Real Estate Term of the Day: Fixed-Rate Mortgage FIXED-RATE MORTGAGE – a loan secured by real property featuring an interest rate that is constant for the entire term of the loan (Barron’s Dictionary of Real Estate Terms) Contrast to: ADJUSTABLE RATE MORTGAGE (ARM) When financing a new home, it is key that you work with your … More Real Estate Term of the Day: Fixed-Rate Mortgage