Explore Maple Grove, MN

By Richard McDeid
(Our Home Real Estate)
Comments 0
All About Adjustable-Rate Mortgages Adjustable-rate mortgages (ARMs) differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan. ARMs also generally have lower introductory interest rates vs. fixed-rate mortgages. Before deciding on an ARM,...

By Richard McDeid
(Our Home Real Estate)
Comments 0
When Should You Pay Points on a Loan? When it comes to comparing interest rates for a mortgage loan, homebuyers often have the option of choosing a loan with a lower interest rate by paying points. Simply put, a point is equal to 1 percent of the loan amount. For example, with a $100,000 loan, on...

By Richard McDeid
(Our Home Real Estate)
Comments 0
How Mortgage Loans Work Excluding property taxes and insurance, a traditional fixed-rate mortgage payment consist of two parts: (1) interest on the loan and (2) payment towards the principal, or unpaid balance of the loan. Many people are surprised to learn, however, that the amount you pay towar...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Leveraging Your Money One of the greatest financial aspects of buying a home is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $125,000 home with 10 percent down, you lever...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Saving for the Down Payment Saving funds for a down payment should be part of an overall program to get your finances in order prior to shopping for a home. This includes rounding up financial records, examining your spending habits, and setting a budget you can live with. Remember, too, that the...

By Richard McDeid
(Our Home Real Estate)
Comments 0
15-Year, 30-Year, or a Biweekly Mortgage? In the past, the 30-year, fixed-rate mortgage was the standard choice for most homebuyers. Today, however, lenders offer a wide array of loan types in varying lengths--including 15, 20, 30 and even 40-year mortgages. Deciding what length is best for you s...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Closing Costs The bundle of fees associated with the buying or selling of a home are called closing costs. Certain fees are automatically assigned to either the buyer or the seller; other costs are either negotiable or dictated by local custom. Buyer closing costsWhen a buyer applies for a loan, ...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Refinancing Refinancing your home can be an excellent way to bring down your monthly mortgage payment, raise cash, or consolidate debts with high interest rates. However, you need to do your homework before deciding to refinance. One important factor is the difference between current interest rat...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Understanding Different Types of Loans Today's homebuyer has more financing options than have ever been available before. From traditional mortgages to adjustable-rate and hybrid loans, there are financing packages designed to meet the needs of virtually anyone. While the different choices may se...

By Our Home Team
(Our Home Real Estate)
Comments 0
Where are fixer-uppers found? You can find distressed properties or fixer-uppers in most communities, even wealthier neighborhoods. A distressed property is one that has been poorly maintained and has a lower market value than other houses in the immediate area. Ascertaining whether the property...

By Our Home Team
(Our Home Real Estate)
Comments 0
Buying Your Home - Fixer-Uppers Are fixers a good idea in bad areas? It depends. Distressed properties or fixer-uppers can be found anywhere, even in wealthier neighborhoods. Such properties are poorly maintained and have a lower market value than other houses in the neighborhood.  Many experts ...

By Our Home Team
(Our Home Real Estate)
Comments 0
Are condos a good investment? Condominiums have held their value as an investment despite economic downturns and problems with some associations. In fact, condos have appreciated more in the past few years than when they first came on the scene in the late 1970s and early 1980s, experts say. Whi...

By Our Home Team
(Our Home Real Estate)
Comments 0
Do condos have to be made accessible to the disabled? The 1990 Americans with Disabilities Act does not require strictly residential apartments and single-family homes to be made accessible. But all new construction of public accommodations or commercial projects (such as a government building o...

By Our Home Team
(Our Home Real Estate)
Comments 0
Are condominiums risky to buy? While condos never had the kind of appreciation experienced by single-family homes in the go-go 1980s, most ultimately have not lost value, say some experts. And with high prices in many urban markets and more single home buyers in the market than ever before, the m...

By Our Home Team
(Our Home Real Estate)
Comments 0
How do I figure out the homeowners association? Learn everything you can about the homeowners association before you buy into a development governed by one. The association's financial, political and legal conditions are very important to your investment and quality of life.  When run properly, ...

By Our Home Team
(Our Home Real Estate)
Comments 0
Are one-bedroom condominiums a good investment? One-bedroom condominiums historically have not been considered as good an investment as condos with two bedrooms or more. But in high-cost markets, such as Manhattan or the San Francisco Bay Area, one-bedroom condos have proven to be equally good i...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Buying Your Home - Lease Options What is a lease option? When a renter signs a lease with an option to purchase a property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment. ...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Buying Your Home - Tenants-In-Common and Co-ops Where do I get information on co-ops? For information on co-operative housing, contact the National Association of Housing Cooperatives, 1401 New York Avenue Northwest, Washington, D.C., 20005-2160; (202) 737-0797. Can a co-owner force someone off ...

By Richard McDeid
(Our Home Real Estate)
Comments 0
Buying Your Home - Insurance What kind of home insurance should I get? A standard homeowners policy protects against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collap...

By Richard McDeid
(Our Home Real Estate)
Comments 0
What about buying a foreclosure "as is"? Buying a foreclosure property can be risky, especially for the novice. Usually, you buy a foreclosure property as is, which means there is no warranty implied for the condition of the property (in other words, you can't go back to the seller for repairs)....

Maple Grove, MN Real Estate Professionals