home builder

Should I Work With a Buyer’s Agent or a Builder?

An unrepresented buyer is often disadvantaged in the real estate transaction process if they are not using an experienced real estate professional. It could be compared to going to represent yourself in a court case worth hundreds of thousands of dollars… and not bringing a lawyer to the table. Real estate agents are licensed and[…]


Information Needed for a Home Loan Application

W-2 (2-years) & Current Pay Stubs, Self-Employment or 1099  – Last 2 years tax returns Landlord name/ Telephone – Last 2 years Employer name/ Address/ Telephone – Last 2 years Asset Information – Past 2 month’s bank statements Information on Stocks/ Bonds/401K, etc. Name and telephone number of Realtor Name and telephone number of Escrow NOTE: The above is[…]

home buying tips

Safety Inspection Tips

Before you buy a home, you’ll want to know exactly what it is you’re getting. An inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of only repairs,that are needed. The Inspector does not evaluate whether[…]

home closing costs

Closing Costs Explained

The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA,monthly mortgage payments should be no more than 29% of gross income, while the mortgage payment,[…]

nashville escrow

What Is Escrow?

Escrow – A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a borrower’s monthly payments on property taxes and insurance. The amount of money that you will be required[…]

nashville home closing

What Is Involved With Closing?

There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following: Attorney’s or escrow fees (Yours and your lender’s if applicable) Property taxes (to cover tax period to date) Interest (paid from date of closing to 30 days before first monthly payment) Loan Origination[…]

tax benefits

Tax Benefits of Owning a Home

The purchase – The IRS says you can deduct interest in the year that it is paid, and that is usually part of each monthly loan payment. Mortgage interest – In general, you can deduct interest charged on a loan used to acquire or improve your principal residence in the year that it is paid.[…]

writing a home offer

How to Write an Offer

Your real estate agent will assist you in making an offer, which will include the following information: Complete legal description of the property Amount of earnest money Down payment and financing details Proposed move-in date Price you are offering Proposed closing date Length of time the offer is valid Details of the deal Remember that[…]

home loan preapproval letter

Never Forget Your Preapproval Letter

Pre-qualification is an informal way to see how much you maybe able to borrow. You can be ‘pre-qualified’ over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of the[…]