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5 Things You
Must Know About Mortgages!
have changed significantly over the last few years, making your options quite
different than before. Changes in the way you approach mortgage shopping, and
even small differences in the way you structure your mortgage, can cost you
thousands of dollars and years of expense.
If you are about to
buy your first home, or are planning to make a move to your next home, it is
critical that you inform yourself about the factors involved.
Before you commit your
money to monthly mortgage payments, consider these 5 issues. Consideration of
these important things can make your payments work for you.
1. Get Pre-Approved Before You Go Looking For a Home
necessary, and can give you complete peace of mind when shopping for a home.
Your lending institution can provide you with written pre-approval, at no cost
and no obligation. A written pre-approval is as good as money in the bank. It
includes a completed credit application, and an assurance that guarantees you a
mortgage to the specified amount when you find the home you’re looking for.
2. Decide How Much You Are Comfortable Spending Each Month
When you discuss
mortgage pre-approval with your lending institution, find out what level you qualify
for, but also prepare yourself for what monthly dollar amount you feel
comfortable with. You may be approved for more than what you are comfortable
with, so work with your lending institution to determine what your comfortable
monthly amount is, and what value of home this translates into.
3. Know What Pre-Payment Options Are Available To You
More frequent payments
can literally take years off your mortgage. Making payments more frequently, will
significantly lessen the amount of interest that you will be charged over the
long term, thus reducing your payment term.
You can also increase
in the amount you pay monthly, which will have a major impact on the number of
years you will have to pay and again will shorten your payment term.
These two payment
options can cut years off your mortgage, and save you thousands of dollars in
interest. However, not every mortgage has these prepayment privileges built in,
so make sure you ask the proper questions.
4. Is Your Mortgage Assumable
An assumable mortgage
is one that the buyer can take over when you move to your next home. This can
be a very powerful tool at the negotiating table making it much easier and more
desirable for a buyer to buy.
5. Deal With a Mortgage
Consider dealing only with
professionals who specialize in mortgages. Enlisting their services can make a
significant difference in the cost and effectiveness of the mortgage you
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What our clients are saying
Dan and Sheri Brewer embody going above and beyond, going the extra mile and serving with excellence. They were always available through the process and never pushy. They were honest with their feedback and took so much time explaining inspection reports, comparison reports and any other document that came our way. They reminded of us important deadlines along the way and even reminded us about utility transfers and logistics that can easily be forgotten when going through the home buying process. Most importantly, they are great realtors but even more, they are amazing people. They own their business and are not tied to a giant realty company. Their way of doing business was refreshing and a blessing to my family. I HIGHLY HIGHLY HIGHLY recommend them if you are buying a home. You will not be disappointed!
~ Rebecca L.
They are the best; always there and very caring. They found the perfect home for my family and walked us through every step. I will be using them when I sell my other property.
~ Shela W.
Dan and Sheri are amazingly accommodating with their time and expertise. Regardless of the price value this team works consistently hard and makes me feel valued as a client.
~ Ron L.
Being first time home buyers, my wife and I were thinking of going about home buying on our own. But after working with Dan and Sheri, we are so thankful for having chosen them as our realtors. From the first day we started working with them, Dan and Sheri were 100% on the ball, responding immediately to our inquiries, setting up times for us to view homes, and working diligently to put in offers. They were great at finding listings that met our geographic, price, and other criteria. Once we were under contract, they were present during the inspection and continued to follow up with the listing agent. Their professionalism was a breath of fresh air as they guided us throughout the home buying process and offered sound advice, but gave us the freedom to make our own decisions. Even after the home buying process was finished, they are still responsive and knowledgeable about any other concerns that we have. We would recommend them without hesitation to any other home buyer.
~ Kyle S
I can't recommend Brewer Realty Group enough! Every step of the way, they were there to help, guide and assist me though the myriad of things that you encounter when purchasing a new home. We wanted to buy a house during this Christmas season. We not only found a house the week before Christmas, we closed on the home on 12/31! We could never have accomplished this without the efforts of Brewer Realty Group. Day or night, weekend or holiday, they were working with us, to make this purchase a reality for us. They always had our best interests at heart and informed us of the process. They were on site for every inspection and helped us wade though every detail to ensure we made an educated decision on the biggest purchase of our life. If you want a top quality agent, a partner to bounce ideas off of, a committed professional to guide you in the process, and an honest and trust-worthy advocate for you in the purchase of a new home - then look no further than Brewer Realty Group!
~ Jen S.
My work with Dan and Sheri several years ago when they managed Cuchara Enterprises, we had purchased a condo in the area. They were the property managers at the time (he later joined the realty group we bought our condo from). And what I experienced was two very honest, very hard working people. And I would not hesitate to recommend them!
~ Larry Kock
I have know Dan for 15 years. He helped me purchase and subsequently sell a condo. Prior to selling the condo Dan and his wife managed the unit while it was in a rental pool. He demonstrated masterful negotiation skills, priced the unit correctly and was responsive to me and potential buyers and their agents. Dan is quite knowledgeable. I highly recommend the Brewer Realty Group.
Dan helped us purchase a vacation home in Cuchara, Colorado. Dan was very attentive to every detail and kept us up to date as the transaction progressed. He was great to explain everything on a level we could understand and was very knowledgeable about the area and made sure everything we needed was taken care of from the time of the showings to long after we moved in. Thanks to Dan our purchase was a wonderful experience and we are still friends today!
~ Linda Batchelder
It was such a pleasure working with Dan. He is not only intelligent but quick on his feet, kind to all, and very well versed in property management, customer service, and countless aspects of real estate and development operations. Anytime I needed anything, he was there before I even needed to ask for help and often he was already there right when I realized something was needed. He is excellent with clients, customers, owners, brokers and coworkers. There is not a single person that didn't enjoy working with him. I am absolutely certain that despite any platform or situation, Dan will handle it with the upmost thought, hard work, and dedication.
~ Jessica K.
Our company faced the challenge of purchasing a 3000 acre parcel that had a lot of complicated baggage with it. The sellers were represented by 13 Lawyers. We were represented by Dan Brewer. The deal had to be closed fairly quick and there was a mountain of work to get through. Dan handled everything from Surveyors, appraisers, County Officials, HOAs and the 13 lawyers. On several occasions it looked like the purchase would not go forward but Dan always found a way to work with both sides and make it happen. We closed on the purchase and couldn’t have been happier with the outcome. Our company works with agents all over the country but none have earned our respect the way he has. Dan is truly an exceptional real estate professional.
~ Cowtown Properties
Dan and Sheri worked so hard on getting my property sold that I really was amazed. My real estate had been on the market on and off for 5 years before I met these two. They gave my property a fresh look and used imaginative thinking to bring in new clients. After I had it listed with Dan for 3 months, he had multiple offers and I ended up selling above the list price. I am happy to recommend these guys to anyone who wants results. They know how to get it done.
~ Earl B.
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