Finding a loan that works for you is just as important as finding the right home. There are many different types of loans available, each with their own set of benefits and drawbacks, but the most popular loans are 30-year-fixed, 15-year-fixed and the 5/1 ARM. Understanding the differences and aligning the right loan with home ownership goals and plans will ensure you are setting yourself up for the best investment possible.
We set out with the goal to reduce complexity and increase transparency for home buyers and sellers. With over 80 successful sales in one of the hottest real estate markets, Seattle, we have saved home sellers over two million dollars since we started just over a year ago!
If you haven’t noticed already, your credit score is important when applying for any loan. Your credit score will be used by lenders to identify your ability to repay a loan. Their goal is to reduce the amount of risk they may encounter and prevent lending to consumers who have a history of not paying their loan payments.
How credit scores works
Credit scores range from 300-850 and consider your personal financial history including payment history, credit mix, amounts owed, length of credit history, and new credit. Here is a nice graphic from myfico.com that shows a nice breakdown.
If you are about to make one of your biggest long-term investments you should at least make sure it’s a purchase that you absolutely love, right? Spending a bit of time upfront to identify the must-have’s, the nice-to-have’s, and the can live without items will go a long way when deciding to make an offer on a home. Breaking it down to the different areas of your home will help organize your wants. Thinking about the interior, exterior and general usage of your home are the best ways to organize the wants and needs of your home.
Having a wish list and knowing what your home must have will allow you to more efficiently find the homes that fit your needs saving you time and energy. Narrowing down the location, the type of home, features, and the price range reduces the number of open houses you go to and allows you to make a more informed offer on a home you fall in love with.
Tip: Use Pinterest and other social marketing tools to begin gathering ideas of what you like.
A cornerstone of the American Dream is home ownership. Not only is purchasing a home a major milestone for many of us, it’s likely the largest investment you will ever make. Before you make the leap, however, make sure you have a solid understanding of what homeownership entails.
If you want or need to sell your home between November till February, here are a few questions you possibly have struggled with:
- Will someone want to buy now (it’s cold/wet/icy/snowy)?
- Does it make sense to wait?
- Will I make more money on my home if I wait?
You work hard to find the right house for your clients. And we know how much effort it takes to make an offer. That’s why all homes listed on Faira.com offer buyer’s agents the standard 3% commission. In a typical month, Faira brings over $100,000+ in commission to buyer’s agents.
While it’s true that buyers can make an offer on Faira directly, most use an agent. It only takes 60 seconds to submit an offer on Faira.
Our technology helps you save time. How much time have you wasted writing offers for houses that already have 10 other offers? How many days have been spent fighting bidding wars on houses you didn’t win? All that effort, with zero return.
On Faira, only a price is needed to place an initial offer. You submit your offer to the seller online, and only if it’s accepted do you write up a full contract. This streamlined process has proven to be a huge time saver, especially when there are multiple offers.