Buying a new house? How long do you plan on staying there? If you plan on living in this home long-term, you may want to look into paying points on your mortgage. You may pay more up front, but the savings in the long run can be significant.
My wife and I have been working on getting our finances in order….budgeting…paying off debt…etc. With this new “cut corners” mentalitiy, I started looking at the current interest rates and thought about refinancing our house. We are currently on a 30 year fixed at 6.82% rate. We talked with our bank. They mentioned a lower 5% interest rate for 15 years. Our monthly payments will still go up, but according to my math ( and online amortization calculators ) it is only about $180 a month. I will save over $110,000 throughout the life of the mortgage.
With the rise of foreclosures and tightened mortgage requirements in today’s real estate market, it should be no surprise that now is time to look for foreclosures in your area. RealtyStore.com is the #1 provider of Foreclosure information in the nation.
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Author: Gerald Mason
When you have found a house in a desirable location that looks interesting, look it over carefully for evidence of quality construction or the lack of quality.
Does the house have the general appearance of being in good shape?
Welcome to my real estate marketing experiment. I want to offer free real estate listings to home owners and real estate agents.