Buying Your First Home? There’s a lot of ground to cover, make sure you work with a top selling professional!  It’s hard to know where to start when buying your new home; call a real estate agent, talk to a lender, go to a for sale by owner? Then there are the fees, the contracts, the comparables and the list goes on. You need a top selling professional real estate team that really knows the market you plan to purchase in. As Lake Havasu’s #1 Sales Team we’ll make sure you understand every part of the home buying process before you actually write a contract! We will take the time to go through each and every step of the buying process. There are no dumb questions! Together, we will consider: - How much can you really afford? - How to qualify for a mortgage - Improving your credit score - How much cash you should put down - How to buy a home with little or nothing down - How to choose a lender that will give you the best program with the least amount of hassle and closing costs Tell us a bit about your situation below. We'll get right back to you. There is absolutely no charge, and we offer this to you with no strings attached. New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly...
Financing Your Home >Watch Your ARMs Length Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
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Where is the world's largest mud building?
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The Grand Mosque in west Africa measures 328 feet long and 131 feet wide, and has been carefully maintained for centuries by local craftsmen, especially during the rainy season. |
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