What Is Equity?

by | Apr 4, 2014 | Mortgages:

http://bucket.wistia.com/medias/aaxi1qissw?embedType=async&videoFoam=true&videoWidth=640 Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this...

What Are Real Estate Commissions?

by | Apr 4, 2014 | Title and Closing

Like the video says – real estate agents aren’t paid by the hour!They’re paid a percentage of the purchase price in a successful real estate transaction. When one agent represents the sellers and another represents the buyers the commission is typically split...

What Is “Prime”?

by | Apr 4, 2014 | Mortgages:

The Prime Lending Rate – sometimes just called “Prime”  – is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime. In the US, Prime is affected by the Federal Reserve...

Closing Costs Explained Visually

by | Apr 3, 2014 | Title and Closing

Purchasing a home is exciting. Once escrow begins, the excitement can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate. Closing costs simply refer to the fees associated with various things associated with the...