How Much Should You Spend On Your First House? Most mortgage lenders determine how much house you can afford by using the 28 percent rule. This “rule” says that you shouldn’t spend more than 28% of your monthly income, before taxes, on your mortgage. Individuals and households have other expenses to factor in this calculation. Debts and expenses like student loans, car payments, property tax, and PMI all factor into this balance. It’s all about figuring out how much house you comfortably afford because you don’t want buyer’s remorse to be a feature of your new home. Call Amber Cyman now to talk about selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/00Zg0oChFR?amp=1
0 Comments
What Does Every Lake House Need? Having a good, solid list of the things you’ll need makes the process run so much smoother, and the headaches a lot less frequent. So here’s a checklist of the most important lake home essentials to help you stay organized. Kitchen Food A can opener/bottle opener Silverware, cooking knives, cutting board, wooden spoon, spatula and tongs Oven mitts Coffee, filters (if needed) and coffee pot Measuring spoons and cups Bathroom Plunger and bowl brush Soap, shampoo/conditioner Toothbrush, toothpaste, floss, mouthwash, comb and brush Towels, washcloths and hand towels Living/Family Room Coasters Board games Table lamps TV, DVD/Blu-ray player, DVDs, and Blu-rays Gaming console and games Furniture and any décor Throw pillows and blankets Bedroom Bed Comforter, bed sheets, pillows, and pillowcases Laundry Room Laundry detergent, bleach and dryer sheets Cleaning Closet To keep your lake home spiffy clean, Store supplies in a closet or cabinet somewhere General Items for Around the House and Garage Call Amber Cyman now to discuss buying a new home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/OHR31MPAD9?amp=1
How long does it take to buy a house? Buying a house is thrilling, but it can take a lot longer than you might expect. Think of all the financial hoops you’ll need to jump through before you get the keys, not to mention finding a home you can afford that checks all of the boxes on your wish list. If you’re wondering how long it takes to buy a house, the answer is it depends. On average, a homebuyer can spend a few days to go through the initial pre-approval process, anywhere from a few weeks to a few months shopping for the right home, and 30 to 45 days to close the deal. The timeline can go faster or slower depending on what your local market is like, your financing situation, the number of homes for sale in your price range, and even the time of year you’re searching. Call Amber Cyman now to talk about selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/hSFujBK4LL?amp=1
What Does Private Lake Mean? There are three types of lake access for the lakes in Northern Wisconsin. They are private, semi-public, and public. A private lake is a lake that has no public access points and is surrounded by private land. It is very common for a lake lot in Northern Wisconsin to be advertised as "private" when the lake is in no way private. Private lakes are very, very rare and if you see a lake lot advertised as private, make sure to follow up with questions on access. A private lake will almost always be quiet. People who buy on private lakes are typically looking for peace and quiet and their lake use is more tempered than those who live on public bodies of water. Call Amber Cyman now to talk about selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://drive.google.com/drive/folders/1j9Y1DGygZGTcgvHtOw6evwN7EsvlAEeO
What kind of credit score do you need to buy a house? The conventional home loan you get from the bank or credit union will likely come with the best interest rates — and the fewest number of strings. However, conventional loans also have the highest credit score requirements, especially if you have less than 20% to put down. According to most sources, the minimum credit score for a conventional bank mortgage is 620. This number is generally based on the fact that Fannie Mae and Freddie Mac, the government-sponsored programs that buy up private mortgages to sell to investors, require borrower scores to be at least 620. Call Amber Cyman now to talk about buying a vacation home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/OjzKr4L9Ls?amp=1
What Is Minimum Down Payment For A Second Home? Conventional loans for vacation homes are an option, but be prepared to make a larger down payment, pay a higher interest rate and meet tighter guidelines than you would for a mortgage on your principal residence. The minimum down payment for a vacation home is usually 20% for a mortgage guaranteed by Fannie Mae or Freddie Mac, but many lenders have raised their minimum down payment requirement to 30% or even 35% for a second home. To qualify for a conventional loan on a second home, you will typically need to meet higher credit score standards of 725 or even 750, depending on the lender. Your monthly debt-to-income ratio needs to be strong, particularly if you are attempting to limit your down payment to 20%. All borrowers need to fully document their income and assets for a second home loan because lenders will need to see significant cash reserves to make sure you have the resources to handle payments on two homes. Call Amber Cyman now to discuss buying your dream home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/z0bqHSURfj?amp=1
How do I find a real estate agent? There’s no shortage of real estate agents vying for the job via online ads, postcards and yard signs, but with so many professionals to choose from, finding the right one can feel overwhelming. Follow these tips on how to find a real estate agent to make sure you hire the perfect pro: Talk to a lender before you hire a real estate agent. Get referrals from your network. Research potential candidates. Interview at least three real estate agents. Request references — and check them. Go with your gut. Take a close look at your contract. Call Amber Cyman now to talk about buying a second home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://sites.google.com/view/ambercyman/home#h.p_iaRa02Lownyj
Do Staged Homes Sell Faster? It’s overwhelming to clear and sell a home that’s been occupied for many years—the piles of papers, trunks full of tchotchkes, mountains of miscellany. Nobody knows this more than Glendale, Calif.-based Betsy Wilbur, who professionally “stages” homes for sale. But with a small investment of time and/or money, homes that are set up to sell can reap more rewards than ones that haven’t been staged —and even vacant houses. “Staging can save you from a costly price reduction,” Wilbur says. “A staged home will sell for 17% more on average than a non-staged home, and 95% of staged homes sell in 11 days or less. That is statistically 87% faster than non-staged homes.” Call Amber Cyman now to discuss buying a waterfront house. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://www.facebook.com/yourTCrealtor/
What Does A Real Estate Agent Do? A real estate agent, as defined by Cambridge Dictionary, is a person whose business is to arrange the selling or renting (learn more about renting here) of houses, land, offices, or buildings for their owners. While that is a technically accurate definition of a real estate agent, it doesn’t give an accurate description of what a real estate agent does every day. Each day is unique and different for a real estate agent; while this can be an appealing aspect of the real estate profession, it can also offer unique challenges or opportunities, depending on the agent’s skill set. Call Amber Cyman now to discuss selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://t.co/QLIqCU6rQy?amp=1
How Much Deposit Do I Need For A 450,000 House? For a $450,000 home, a hypothetical deposit might need to be between $22,500 (5% deposit) and $90,000 (20% deposit), depending on the loan. The first step is to figure out how big a home loan you can comfortably afford. To do that, you can put your income and expenses into the borrowing calculator below. That will give you a rough guide to how much you might be eligible to borrow. Call Amber Cyman now to talk about selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
from https://sites.google.com/view/ambercyman/home#h.p_2ZuC_R-Vwnyc |
About UsFind a real estate agent in Leelanau County Let's talk about helping you buy your next home. See why Amber is consistently voted as one of the best Real Estate Agents in Northern Michigan. Archives
July 2020
Categories |