Nancy Roberts Realty LLC

Tag: Financing

Posted on 02/14/2021
Why Debt to Income Ratios Matter
Image by Mimzy from Pixabay As you start your journey to home ownership, one of the terms you may hear from your mortgage lender is debt to income ratio. Many people have never heard this term before, but it is an important aspect of obtaining a mortgage. Your mortgage lender wants to make sure you are not going...
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Posted on 12/20/2020
Budgeting for a Fixer Upper
Image by Annie Gray from Unsplash If you are handy with home repair, you could buy a more expensive house if you are willing to put some work into it. Many foreclosures are often sold “as is,” and require some work. The seller may also be more open to negotiating a lower price based on the number of...
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Posted on 07/26/2020
How is a Land Contract Different than an Mortgage?
Image by mohamed Hassan from Pixabay A land contract and a mortgage have a number of similarities. For example, you can use either option to purchase a home Both loans must be repaid on a monthly basis. Understanding the Differences A land contract is a legal agreement between a buyer and a seller. Rather than a traditional mortgage...
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Posted on 07/19/2020
Is a Balloon Mortgage Right for You?
Image by Jojje from Shutterstock Many people own homes through a mortgage agreement. Traditional mortgages are primarily fully amortized or gradually paid off with regular payments over the lifetime of the loan. Each payment contributes to both the principal and the interest. A balloon mortgage is a short-term home loan with fixed-rate monthly payments that only take care...
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