On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file away for future reference: Closing Disclosure settlement statement Itemizes all the costs — commissions, loan fees, points, and hazard insurance – associated with the closing.…
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Do keep original and updated pay stubs, bank statements, investment account statements, W-2 forms, and other important financial documentation. Current supporting documentation may be required and updated prior to the closing of your mortgage loan. Do provide all documentation from the sale of your home when proceeds will be used for down payment on your new…
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Pre-Qualification vs. Pre-Approval Identify your property price range, and strengthen your bargaining power by understanding the difference between these two buyer tools. “How do I know what price range to look in,” and “how do I make sure my offer is accepted?” These are two of the most commonly asked questions from first-time and experienced…
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2016 3rd Quarter sales compared to 2015 3rd Quarter sales are still showing a positive trend as our median sales price rose by more than 10% and number of homes sold increased from 221 to 224. Our inventory is down to 8 month’s supply – we are in a healthy market with steady activity. …
DetailsWhat does PITI consist of? PITI is the acronym for your monthly mortgage payment. It’s pronounced like the word “pity” and the letters stand for the four parts of that monthly payment, which are: P stands for Principal That’s the part of the monthly payment used to pay down the balance of the loan. Your…
DetailsTop 5 Tips for Home Buyers Talk to a representative at a mortgage company and assess your finances. A loan officer will help you determine what you can afford and what additional expenses (closing costs, inspections, etc.) to anticipate. They will also discuss the types of loans that are available and which would be…
DetailsWhen you buy a new home you’ll more than likely have a mortgage payment. There are a few other expenses related with home ownership that you should include in your budget. Here’s what to make room for in your homeowner’s budget. Monthly Expenses • Principal and interest payment on your mortgage • Real estate taxes…
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Santa Fe’s August 2015 compared to August 2016 shows many positive indicators that our market is showing improvement in each price range. August was a great month and we hope to see the positive trend continue to finish the year strong and carry into 2017.
Before you start house hunting, take a few moments to make a wish list with your family members. Make sure to include all of the features you want – and don’t want – in your next home. Make sure to reference those items that are a “Have to Have” or a “Like to Have” to…
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Inventory in Santa Fe was up in July compared to June and number of homes decreased, as well. Different factors affect our real estate market in various ways, and we often see inconsistency during election years. It is still a great time to sell or buy – as long as you are priced right and…
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