20 Dec 2024
By Tawnya King

Does Your Home Loan Have a Prepayment Penalty?

Real Estate Tips
Buying a home is a huge milestone, and the excitement of closing can lead many buyers to quickly accept any mortgage offer without fully understanding its terms. One important detail to watch for is whether your mortgage includes a prepayment penalty. This fee can be an unwelcome surprise, so it’s crucial to know what you’re signing up for before finalizing your loan. What is a Prepayment Penalty?A prepayment penalty is a fee that some lenders charge if a borrower pays off their mortgage within a specified period, typically during the first two to five years. Though less common, some loans…
Read More
05 Dec 2024
By Tawnya King

The Role of the Appraisal Contingency in Real Estate Contracts

Home Buyer Tips
When you're buying a home, one important component of the real estate contract is the appraisal contingency. This clause protects the buyer in case the property’s appraisal comes in lower than the agreed-upon sale price. While it’s a common part of many real estate transactions, it’s often not fully understood. Here's why it’s so important and how it can impact your purchase. What is an Appraisal Contingency? An appraisal contingency is a condition in the purchase agreement that allows the buyer to back out or renegotiate the deal if the property appraises for less than the offer price. Lenders require…
Read More
26 Jan 2024
By Tawnya King

Are You Ready for Home Ownership? Find Out by Answering These 4 Questions

Home Buyer Tips
Do you ever dream about a larger, roomier, or more luxurious living space? Or perhaps just want to experience the joy of owning your own home and building your net worth instead of renting? Let's explore a few questions that can help to answer whether or not you're ready for a new lifestyle as a homeowner. Can You Realistically Afford To Buy A Home? The first consideration to make is a financial one: can you afford it? Buying a home is a significant financial investment. In most cases, you'll need to manage monthly mortgage payments for many years. The good…
Read More
28 Aug 2023
By Tawnya King
0 Comments

Buying for Retirement: 3 Reasons Why You’ll Want to Buy Your Retirement Home Before You Retire

Real Estate
Many people dream of buying their ideal retirement home after their career has come to a conclusion - with all that extra free time it seems like it'd be the most logical time to shop around. However, many real estate professionals strongly recommend that their clients find a retirement property before they're off the payroll. While it may seem like a big time commitment to find a new home while you're still busy with your work there are several significant financial benefits to purchasing your retirement home before you actually do retire. Here are our top reasons why. It Makes…
Read More
12 Apr 2023
By Tawnya King

How Young Is ‘Too Young’ to Buy Your First Home? Getting Started Early Has Its Ups and Downs

Home Buyer Tips
Many millennials are expected to enter the housing market in the next year with the interest rates still low. However, while it may be a good time, it does not necessarily mean that it's the right time for you to make the investment. If you're currently weighing your options when it comes to home ownership, here are some things to consider before you decide put the money down. Are You Struggling With Student Debt It's possible to invest in a home when you're still paying down student debt, but if you're also struggling with a low-paying job and a high…
Read More
25 Jan 2023
By Tawnya King

On Time, Every Time: How Being Late on Monthly Payments Can Affect Your Mortgage

Home Mortgage Tips
Are you the type of person that struggles with remembering to pay their bills on time? You're not alone. People across the country regularly submit late monthly payments, inflicting terrible damage to their credit. Let's take a quick look at how paying your loan or other monthly payments late can have a negative impact on your mortgage. Your Credit Score Is At Risk As you already know, almost all banks, credit cards, mortgage companies and other lenders rely on your credit score to help assess the risk of lending money to you. Paying any of your payments late – even…
Read More
04 Jan 2023
By Tawnya King

How To Keep Your Address Private

Mortgage
There are not many parts of your life that are private anymore. Today, it is relatively easy for someone to go online and look up your address in just a few minutes. At the same time, there are some people who have an easier time keeping their lives private. Celebrities, public officials, and other people who are frequently in the public light are able to conceal their addresses. Even if you aren't famous, what do you need to do to hide your address? Talk To A Real Estate Agent If you want to keep your address private, the first thing…
Read More