We all know that creditors want to see good things on your credit report before they’ll agree to lend you enough money to buy a home – but if you’re like most people, your credit could stand a little polishing-up. While a big overhaul will likely take some time, there are a handful of things […]
What is a Government-Insured Loan?
Whether you’re buying a large farm for sale in Lake City, a cattle ranch in Columbia County, or an estate home in Lake City, you may be interested in looking at government-insured loans. But what are they, and how do you qualify? What Are Government-Insured Loans? Government-insured loans are those guaranteed by the federal government. These types of […]
What Are Discount Points?
When you get a mortgage, you’ll be exposed to all kinds of new terminology. In fact, any time you borrow – whether it’s to buy timberland in Lake City, a home for sale in Columbia County, or anything else – you’ll have to familiarize yourself with a few terms. One of them is the term […]
Why You Need Loan Preapproval
Before you start shopping for a home, timberland tract, or other property for sale in Lake City, you’ll probably want loan preapproval – and that’s to benefit you and home-sellers. What is Loan Preapproval? Loan preapproval is proof from your lender that you’re actually qualified to purchase a home or property, as long as your […]
Mortgage Basics
When you’re buying a home for sale in Lake City, timberland in North Florida, or a cattle ranch in Columbia County, chances are pretty good that you’re going to need financing from a lender. But how does it all work, and what do you need to know if you’ve never borrowed before? Financing Basics There […]
What is a Financing Contingency in a Real Estate Purchase Contract?
When you buy a cattle ranch in Lake City, a home for sale in the area, or anything else, the transaction depends on you having the money to actually purchase it—and your Lake City Realtor® will build a financing contingency into your real estate purchase contract that helps protect you if you can’t secure financing. […]
Why You Need Mortgage Preapproval
If you’re like most people, whether you’re looking for a large farm in North Florida or you want non-deed restricted land for sale in Lake City or Live Oak, you’re going to need financing—and that means it’s a good idea to get mortgage preapproval before you even begin searching. Why You Need Mortgage Preapproval When you apply for […]
What is a USDA Loan?
The USDA home loan, also known as the USDA Rural Development program, is designed to help low- and moderate-income buyers purchase a home in a qualifying rural area. A USDA loan can be used to build, improve, or renovate a primary home with several advantages not offered by other mortgage programs. Benefits of a USDA […]
Fixed-Rate vs. Adjustable-Rate Mortgages: What’s Right for You?
If you’re buying land for sale in North Florida, you’ll have a few options for financing. You can pay cash for the land—one of the least common options—or you can take out a mortgage. When you’re looking at mortgages, you’ll have the choice between a fixed-rate and an adjustable-rate mortgage… so what’s best for you? […]
Should You Pay Cash for a Home?
Most people have to take out a mortgage loan when they purchase a home. However, for others, it makes more sense to pay cash for a house. If you can—that is, if you’re financially able to do it—it may make sense for you, too. If you can pay all cash for a home, you […]
