inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2022/06/ad10c0f0fc1774449c0bb39c470ab54cae6be339.png
  • HOME
  • MEET THE TEAM
  • BUYING
  • SELLING
  • RENTING
  • FEATURED LISTINGS
  • HOME VALUATION
Binnie Bianco
(484) 576-7219
binniebianco@gmail.com
Sign In
Sign Up
inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2022/06/ad10c0f0fc1774449c0bb39c470ab54cae6be339.png
  • HOME
  • MEET THE TEAM
  • BUYING
  • SELLING
  • RENTING
  • FEATURED LISTINGS
  • HOME VALUATION
Binnie Bianco
(484) 576-7219
binniebianco@gmail.com
Sign In
Sign Up
inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2022/06/ad10c0f0fc1774449c0bb39c470ab54cae6be339.png
uploads.cdn.placester.net/sites/0.5/default_images/posts/dist/Dealing-with-Financing.jpg

TIPS FOR DEALING WITH FINANCING

inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2021/04/Binnie-New281329.jpg
Binnie Bianco

TIPS FOR DEALING WITH FINANCING 

As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home.

 

1. GET PRE-APPROVED

Sub-primes may be history, but you’ll probably still be shown homes you can’t actually afford. By getting pre-approved as a buyer, you can save yourself the grief of looking at houses you can't afford. You can also put yourself in a better position to make a serious offer when you do find the right house. Unlike pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history. By doing a thorough analysis of your actual spending power, you’ll be less likely to get in over your head. 

2. CHOOSE YOUR MORTGAGE CAREFULLY

Used to be the emphasis when it came to mortgages was on paying them off as soon as possible. Today, the debt the average person will accumulate due to credit cards, student loans, etc. means it’s better to opt for the 30-year mortgage instead of the 15-year. This way, you have a lower monthly payment, with the option of paying an additional principal when money is good. Additionally, when picking a mortgage, you usually have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you plan to stay in the house for a long time—and given the current real estate market, you should—taking the points will save you money. 

3. DO YOUR HOMEWORK BEFORE BIDDING

Before you make an offer on a home, do some research on the sales trends of similar homes in the neighborhood with sites like Zillow. Consider especially sales of similar homes in the last three months. For instance, if homes have recently sold for 5 percent less than the asking price, your opening bid should probably be about 8 to 10 percent lower than what the seller is asking.

Print Details
Previous post
Next post
5 ESSENTIAL TIPS FOR BUYERS
Is It Worth It To Buy a Fixer-Upper?

Office

Keller Williams Real Estate625 W. Ridge Pike, Building FConshohocken, PA 19428
(610) 828-2224
binniebianco@gmail.com

Essentials

  • Home
  • What Is My Home Worth?
  • New Construction
  • Just Sold
  • Videos
  • Youtube Channel

About Us

  • MEET THE TEAM
  • Contact

Consumer Protection & Privacy

  • Accessibility
  • DMCA Compliance
For ADA assistance, please email compliance@placester.com. If you experience difficulty in accessing any part of this website, email us, and we will work with you to provide the information.
inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2022/06/ad10c0f0fc1774449c0bb39c470ab54cae6be339.png
inception-app-prod/OWZlZDI5ZDktNzM4OC00NDc2LWIyZDMtYmE1NmNjNGE1MTJl/content/2022/06/998deb05136ff2f3c9ac52c7713cc1d394780f53.png

© 2022 All rights reserved

Created with Placester

Sign in

Sign In
Forgot your password?
Create an account
You have been successfully logged in
The page will reload automatically.
Go to the homepage
Sorry something went wrong
Login or password are incorrect. Please try again.
Try again

Sign Up

Sign Up
Already a User? Sign In
You have been successfully registered
Please check your email.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Reset password

Enter your email address

Reset password
Return to Log In
Reset password email has been sent.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

Change password

Change password
Sign Up
Your password has been successfully reset.
Go to the homepage
Sorry something went wrong
Please try again.
Try again

CONTACT US!

BINNIE BIANCO | REALTOR, TEAM LEADER Cell: 484.576.7219 Office: 610.828.2224 Email: binnie@kw.com
Send
Succes! Your message was sent!
Back to homepage
Oops! Error occurred.
Please try again.
Back to form
Already a User? Sign In

Account verification in progress

Please wait...

Account Verified!
You may now log in into your account
Go to the homepage
Verify your email address
In order to log in to your account, you need to confirm your email address. Please check your inbox!
Go to the homepage

Share this listing

Copy Link