EstaR mortgage Blog

  A home appraisal is an estimate of your home's value.  It's simply a professional appraiser's opinion of what he/she thinks your home may be worth. Why Do Appraisals Matter? Mortgage lenders base your loan amount on the LESSER of the appraised value or the purchase price. Here's an example: Yo...

  Many people aren’t aware of the fact that, in most situations, there really is no gift tax. Here’s why…   $15,000 Annual Exclusion The federal government gives each of us an allowance to gift anybody $15,000 per year without incurring any gift tax. This $15,000/year replenishes every year, and...

    Many clients today have indicated a willingness to refer you business, but very few actually follow through.  Here are three potential solutions that we can explore together:     How to Be More Relevant to Your Clients.  Many financial advisors don't spend any time on database marketing.  Oth...

  1 - Less new construction of homes at lower price points Home builders across the country are reporting that the high-costs of lumber, and the increasing costs of getting building permits approved, have lowered their profit margins and reduced their incentive to build starter houses at lower p...

  "Seller-paid points" are where the seller pays points to reduce the interest rate on your mortgage.  Consider a home where the list price is $300,000 and the seller is willing to accept a bottom line of $291,000.  If the seller reduces the price by $9,000, you would be able to purchase the home...

  In order to understand capital gain, we first need to understand tax basis. Your tax basis is the cost of buying, building or improving a property. Assume you pay $200,000 for a property. You incur $5,000 in closing costs. Then you spend $45,000 on home improvements. In that case, your tax bas...

  Real estate agents today have overwhelming demands on their time and energy.  Buyers and sellers have higher expectations, technology is constantly changing, and the competition seems ferocious.  Here are four key questions to ask yourself to save time, create more efficiency and leverage your...

Here are three things to consider when you're choosing between a fixed-rate mortgage and an adjustable-rate mortgage (ARM) on an investment property:     1 - Cash-Flow & Rate of Return ConsiderationsAn ARM typically carries a lower interest rate vs. a fixed rate mortgage.  This means that you'll...

Why Do I Have to Pay for a Rate Lock Extension?   Here's the scoop: mortgage rates are determined by mortgage bond prices.  Mortgage bonds trade in what's known as a "To Be Announced" (TBA) market.  When you commit to a rate lock, the lender is agreeing to deliver your mortgage to the bond invest...

  1 – Don't accept the highest price offer without asking the right questions.  For example: How strong is the buyer's financing approval?  Even the buyer claims to be "pre-approved", the deal may fall through because of financing conditions unrelated to the property itself. Is the buyer willing...