When you buy a home with a mortgage loan, lenders want to see that you have a debt-to-income ratio of 36 percent or less. There are some exceptions, but this is the “gold standard.” That means you spend 36 percent or less of your monthly cash on debts and obligations. The lower your debt-to-income ratio […]
3 Things First-Time Buyers Need to Know
House-hunting is a big deal – so here’s what you need to know if it’s your first time diving into the real estate market in Lake City. 3 Things First-Time Buyers Need to Know First things first: Working with a Lake City Realtor(R) can help you tremendously. Your agent will walk you through every step […]
Title Insurance Basics You Need to Know if You’re Buying a Property
If you’re buying a property in Lake City, whether it’s a home or a piece of land, you’re probably going to need title insurance. But what is title insurance, how much does it cost, and why do you need it? Title Insurance Basics You Need to Know if You’re Buying a Property Title insurance is […]
Contingencies You Can’t Afford to Waive When You Buy a Home
When you buy a home for sale in Lake City or another North Florida community, your real estate agent will build contingencies into your contract. Some of them you just can’t afford to waive. Related: Contingencies: What You Need to Know Contingencies You Can’t Afford to Waive When You Buy a Home Financing Appraisal Home […]
Can You Negotiate on a Property’s Price?
In real estate – like in most other things – you’re always free to try to negotiate with a seller. But sometimes you’re not in a good bargaining position, while other times, you really are. Here’s what you need to know. Can You Negotiate on a Property’s Price? Many experts say you’re in a strong […]
Making an Offer 101
When you find “the one” – the Lake City home for sale that you really have to have – you’ll make an offer and hope the seller accepts it. But where do you even start? Making an Offer 101 Your Realtor(R) will fill out the right forms for you to make an offer on your […]
What is Escrow?
When you’re buying a home for sale in Lake City, your real estate agent will talk to you about escrow. But what is escrow, and how does it protect you whether you’re the buyer or seller? What is Escrow? In real estate, the term escrow refers to a secure area where important items – like […]
Buyers: How to Negotiate Repairs After an Inspection
When you buy a home, you’re going to hire a home inspector to have a look at it and make sure everything is up to snuff. So what happens if there are issues you want the seller to fix before you sign the dotted line? Buyers: How to Negotiate Repairs After an Inspection First things […]
How to Get Your Credit Report Before You Apply for a Mortgage Loan
If you’re going to apply for a mortgage loan, you’ll need to know what your credit looks like first – that way, you can take steps to clean it up or dive right into the application process. Either way, you have to start somewhere. Here’s how to get your credit report before you apply for […]
What is a Home Remodeling Loan?
If you’re buying a “fixer-upper,” you could qualify for a home remodeling loan. But what is a home remodeling loan, and how do you get one? What is a Home Remodeling Loan? A home remodeling loan – also known as a home improvement loan – is one that allows you to borrow money to buy […]