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A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium
Kick backs, hidden cost, back points, HUD (Housing and Urban Development)calls it "Yield Spread Premium" (YSP), money paid by the a lender to mortgage brokers outside of closing. Money paid by the lender to the broker because you got a higher...
First Steps In Real Estate Investing
With all the stories of people making tremendous amounts of money in real estate it's no wonder why so many are looking at real estate as an investment vehicle. It offers more security than the stock market, provides great potential returns, offers...
Home Buying - A Good Investment
The trend of having multiple properties is not something new but this is becoming a mass act these days.Earlier multiple buying was not very common practice but these days it’s the hot favorite of the public to buy more than one house or land or any...
How to buy land for new home
You've found the perfect house, but the land it sits on isn't quite what you have in mind. Or maybe you've seen a great piece of land, but the house doesn't fit your needs. If nothing really says home to you, it might be time to consider building. ...
West Virginia Real Estate – Forget Old Notions
West Virginia is nicknamed the "mountain state" for good reason. Situated in the Appalachians, the West Virginia real estate market has peeks and valleys as well.
West Virginia
West Virginia is somewhat of a misunderstood state when it comes...
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Why It's Important to Get Pre-Approved
Having a pre-approved mortgage will give you the confidence of knowing exactly what you can spend on a home before you start looking. You will also be protected against interest rate increases while you look for your new home.
Your Mortgage Specialist will answer your questions and help you determine which financing terms and options are right for you. Your Mortgage Specialist and Real Estate Professional work as a team to help you find the right home and select the best financing.
Finalizing Your Mortgage
Once you've found the home you want to purchase, there are some documents you'll probably be asked for in order to finalize your financing. They will include:
1. A copy of the real estate listing of the property. If the home is still to be built, the mortgage lender will need to see the architect's or builder's plans and details on lot
size and location.
2. A copy of the offer to purchase or the building contract, if this document has been prepared.
3. Documents to confirm employment, income and source of pre-approval.
If you have a pre-approved mortgage, it's a simple matter of finalizing a few details which your Mortgage Specialist will explain to you.
John Carle & Sharon Gregresh are Realtors with Royal LePage - ArTeam in St. Albert, AB. They pride themselves on providing more than just real estate sales and listings. Their clients benefit from a much larger spectrum or real estate services. Contact them any time at information@workingtogether.ca or through their website at www.workingtogether.ca. They can be reached by phone at (780) 458-5595
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