Tag Archives: for buyers





Adjustable Rate Mortgages (ARMs) Explained

Adjustable Rate Mortgages (ARMs) With an adjustable rate mortgage, the interest rate and monthly payments varies according to a specific benchmark. The initial interest rate is usually fixed for a period of time after which it is reset periodically. The interest rate paid by the borrower will be based on the benchmark plus an additional spread, called an ARM […]




Who Pays the Real Estate Agent

Most home buyers and sellers work with a real estate agent, and the agent charges a commission. How much is the commission, and who pays it? The answer in both cases is: the terms are set in the listing contract the seller signs. Typically the buyer and the seller each have their own agent, and the […]


10 Questions to Ask the Lender When Applying for a Mortgage

Preparing to buy a home? We encourage buyers to ask prospective lenders these 10 important questions at or prior to mortgage application. (1) What are your qualifying guidelines? Ask about requirements relating to your income, employment, assets, liabilities and credit history. Qualifications for 1st-time homebuyer programs, Veterans Affairs loans and other government-sponsored mortgages are typically less stringent. […]