OCR Text |
Show 4. - SnElbscrilb Tips on Buying or Refinancing IT The SwmmM Cmmty Em The Hamlet Townhomes BY BRIAN RAMSEY derstanding towards his other situaus look of forward tion. Most mortgage companies will the to Many of offer our first this information without opportunity buying home. But what does it really take to charge or obligation. When seeking a reputable mortbuy, refinance or sell a home? What different types of programs are gage company, be sure to ask if they ' available? What does it take to qualoffer many types of different loan ify for a Jiome? It usually is easier programs. This will indicate thejr than most people think. ability and willingness to place you Question: Can I buy or refinance a in the right program offering die lowest interest rate. An example of home. Answer. If a potential borrower some different programs include no has 2 yean on the job experience,. money down, programs, program, pays $500 or mote for rentmoit-gag- c, for good credit, bad credit, bankhas some credit and low or ruptcies, first time reasonable debt, chances to qualify buyers, 4.8 percent rate GPM proare good. This example is simply to grams, second properties and mote. give an idea of the minimum it may The competition amongst different take to qualify. A five to ten minute lending companies has brought the phone consultation with a loan offi- buyers market several innovative cer or mortgage broker would offer and attainable loan programs, makan individual a more accurate un ing it easier for people to refinance 810 East Main, Midway Rasldcntt anoy a riibhausa and pool Ctoos from twq and tluM bedrooms Two professionally- decorated models Private fenced yard Ariel)) vi. Winter? Arieni Aai It Covered! with patio Acres and acres of landscaped parks Quiet October 30, 1998 The Summit County Bee Page C6 construction Plenty of RV parking Affordable Luxury Just Minutes from Park Cityl 24 (801)377-040- 0 ashes short drivewsy sod wide J Year Mated cmm 9 GEORGETOWN MVVRMRWIifwNVXBi CsapKt 'Penwe k prindfai end burnt np (mwtta MS) md k fated o a swcIwm trie i ol S12JJOO wNm FHfl MrtgM ind He ttfar nfai tor in bwdom h Sw mimm it S2J07. IM yar Muot me b 5 W SS02. APR fe 7.71. tact yur k 6 witk PS) swiwt 4 Vtt ywn WO b 7 wn RSI hNMM im Md oMr li wfejKi li c8mq8 vnmu rqMgi. pm ind H0A m iMHomL Powered by a wm ta, raped 5 hp Ttoamsefa enfliie Md sp design far easy ssonpe jaaer propelled far grearthewlaoiliii powen deal stage design faf saperior daring.' nigi wmh ocNgn pronow Mpnnra 1! chswnce far aMneovcrini hi the deepest ' snows. 20" deering width pbeii 3 fa 35 faot throwing dhtsace dean out driveways sad sidewalls Model ST52 IS5SV :c shopping for a mortgage company, do just that. Seek to find a mortgage company feat is willing to assist your needs. Then, let your one loan representative shop for the best loan and rate for you. It is common to see advantage with more options to people shop for rate, by themselves, After prequalifying for a loan, .freely giving their permission to your next step is to find a good real several mortgage companies to do estate agent or read the newspaper to credit checks in hopes to find the find for gale by owner" properties best rate. This can create a serious for properties in your price range. In problem. Every time a person has addition to this, if you are selling their credit pulled, it can hurt their your home, your mortgage broker credit risk score, known as the FICO can probably recommend a good sane. The FICO same is one of die real estate agent or for sale by anothmost important determining factors er program available in your comassociated with loan eligibility and designed to make it look as if everyone walking in the door could get the rate. Not only are rates dependent on each individuals unique situation, but rates change all the time. ' Therefore, an advertised rate may have been true at the time it was made, but nonexistent by the time you call Sometimes advertised rates are actually "buy down" rates which require extra fees, though these ads are not illegal, they can sometimes be misleading. It is very important to ask your mortgage broker specifically what it really takes to qualify for the rates offered in their adver- $749." tisements. It is important to understand that . an individual a interest rate and ability to qualify for a loan actually OTriere depends on four main key factors, hisher credit, job history, income and debt. With this information, the mortgage company can research the best type of program to fit the borrowers situation. It is also important to understand that mortgage companies have the ability to access the same lending sources. Some companies use only a few of the available sflffallldifllipalUll4n.iflim.fr 9J L search several program. It is imperative to know, when choose from when seeking for the best company. ed denial width rnmniand sources; others may have hundreds to chtase from. In consideration that the main job of a mortgage company is to find the best program to fit the needs of a borrower, your chances of getting the best rate is much greater with a company Svhich opts to searching for mortgage companies, it is important to understand that the company you choose does not have to be local, it can be in another area or state. This gives the borrower the mortgage companies play what is often called the ''rate game". A nut-shdescription of the rate game is when a mortgage company advertises an unbelievably low rate to lure people in. The advertisement is Throwin dhtsace of 3 to.35 feet dean out Hut snow tat Midwar. (435)654-559- aybie. wotk of bi Researching for the right loan company may be a challenge, but whether you're considered a perfect buyer or not, the benefits for your efforts are worth the trouble. When still available? First question. It is commoa to see Power dtroech the fcepcet mow drifti with lf,faowHo tires. 6 speeds fcnrsrd sad 2 rerene let yoo nslch four speed to the Models Cpea t, 14 p.m. well. about interest rates promised by some mortgage companies? Is the opportunity to get the lower rates Plreijr of wtoterbotfag power wkh the ftcMwcfalkp Snow Kina1" or qualify for home loans. Thus, making it easier to sell homes as ' , ' interest rates. munity. Refinance and Purchase Craze! Can we believe everything that we hear on the radio and television Plenty of power, lorird uilth ftatnm. Dtluxf double-wa- ll a Home Unfortunately, this warning is not given to all potential borrowers by loan officers when searching to find a good mortgage company. Yes, it is very necessary for a mortgage company to pull your credit in order to search for she best program, but simply be sure to find a company you believe in ant then and only then, allow than to pull your credit. It is not uncommon to see up to ten ..marks on a persons credit report when this information is not made t 4 ' 4 available to seeking borrowers. Dont let yourself become part of this statistic. Lately, we have heard so much about interest rates hitting an all time low, also how the best time to buy or refinance a home. Is this real- . 4 f I ly true? Yes it is.. At the time of writing this article, we are experiencing extreme drops in the interest rates. Though there are many fluctuations in tbet ntfodcpf1'.'; each day, rates are continuing to stay on the law side. If your interest rate is 7.5 percent or higher; you may want to consider taking advantage of this buyers market. If you have been paying on your hone for a few years or more, you may want to check your options of refinancing. There may be a chance to lower your mortgage payment andor keep your payment the same, but making your house payoff short- it ,mT w. .i r, if S" . : V oil "! '1 er. ' 'Hi r I Helpfttl Hints! find a company you with, understand for most of the mortgage Are required by participating parties (title insurance, C When you want to work die most part, "closing fee uO ' ,4 . .i-- v broker, lender, underwriter, processor fees and more) It is common that a borrower may bargain" down the fee charges of the (loan, feeling heshe may have gotfa better deal. But in order for a mortgage company to make this "bargain " possible for the borrower, the interest rate is often affected to the borrowers disadvantage. The borrower may feel they have saved a few hundred dollars or more, but the effect on payments towards interest in the long run may coat them thousands or even tens of thousands! Have your loan officer explain or call locally 2 for more information. Call Brian Ramsey for more information or help at 4302202 ' Lfl .1, . 1 : r O 430-220- 5 .. U, - ; y 'Jocal number). 9 ! O ; w .r.? sT V N LIMITED ENGAGEMENT! NOV. 11 THRU 15 . www.pueblo.gsa.gov adeuacenter by phones (801) 467-TIX- X r.- or GROUP TICKETS: 325-SEA- T 325-255- 4 TICKET PRICES STARTING AT -- Park it 649 136? DELTA CENTER BOX OFFICE (801) (801) - -j HR TICKET CENTERS INFO. t - $9.50 r ursery Know Wllat Grows Located between Park City and Kimball Junction on Hwy 224 '.J '.i r.jf. 9 out of 10 mJoe prefer tire Just point and oUdk your way to wwwfBMamjMB andycuHflnd mors than 880 free publications ready to read or download. tJJ. OmhnI Beretero Admlnttretton ro. e" |