Before Shopping for a New Home Find Out Exactly How Much You Can Spend!  You might have an idea of the loan payment and mortgage you can afford. But it's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you. In the pre-qualification process, you will find out: - Exactly how much home or land you can afford. - How much cash you will need for the down payment. - The minimum down payment, and advantages of higher down payments. - Your monthly payment amount. I help buyers pre-qualify for mortgages every day by referring them to mortgage experts that can quickly answer their questions. You may fill out your contact information below and I will provide you with referrals to mortgage brokers. Please do not provide your confidential information here because that should be provided directly to the mortgage broker only. (I don't need the detailed confidential information myself.) You can also click here to be directed to Bridge City Mortgage or just call Kathleen Guske at Bridge City Mortgage directly at 503.906.7988.
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Closing or Settlement >The Settlement
The final stage of a home sale transaction is the time to tie up all the loose ends. The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.
When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your real estate agent can go over the settlement sheet and help you compare it with your purchase agreement. The seller's charges usually include the brokerage fee, the mortgage payoff, and any charges involved in clearing the title, as well as pro-rated property taxes, payments for termite treatment and escrow for repairs that could not be completed by closing. The buyer's costs include charges for the loan and title searches, insurance and any other legal fees. A good closing officer will go over the settlement sheet line by line, explaining each item and correcting any misplaced charges.
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| Q |
What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage?
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| A |
The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. |
 See More Real Estate Trivia > |
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Lois Oliver-Miesbach
John L. Scott Real Estate
22340 SW Salamo Rd
West Linn, OR 97068
Phone: 503-453-3092
Fax: 503-496-0766
Info@LoisMiesbach.com
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