Real Estate Topics and Tidbits

Nichole Whitmire, Cumming, GA Real Estate Associate | RE/MAX Regency (remax.com)   There are many different types of mortgages to choose from in today's home financing markets. Each type has pros and cons, depending on the homebuyer's desires. In this article we will only discuss three common types of home loans, out of the many. FHA loans  are mortgage loans backed by the Federal Housing Administration. This type of mortgage usually is attractive to first time home buyers. The minimum FICO score (used by lenders to determine creditworthiness) is about 580 or higher, which allows the buyer to take advantage of a lower down payment requirement of about 3.5%. The debt-to-income ratio (DTI) can vary around 43% according to lender requirements.  Conventional loans  are mortgage loans backed by private lenders. They are sometimes called conforming loans because they meet (or conform to) the Freddie Mac and Fannie Mae funding standards. These home loans usually have higher credit req

  Nichole Whitmire, Cumming, GA Real Estate Associate | RE/MAX Regency (remax.com) Here are a few suggestions to keep in mind when you have decided that you are ready to become a home buyer. Check your finances Check your credit score Choose the right Realtor      Checking your financial standing is an important first step to the home buying process.  Pay attention to your debt-to-income ratio (DTI). Basically, you will need to evaluate your total monthly debts divided by your gross monthly income, then multiply that answer by 100. This will be your DTI ratio used by lenders. Checking your credit score prior to beginning your home search helps you know beforehand whether any issues may need to be corrected or resolved. Pay attention to your FICO score because lenders use this to determine your creditworthiness. Choosing the right Realtor can be a key component to your overall satisfaction with the home buying process. A Realtor that is not only knowledgeable, but also communicates t

 The holiday season is traditionally a time to connect with family and friends over festive meals and warm conversations. We gather with acquaintances to celebrate with love and laughter and gratitude.  The cooler weather and shorter daylight hours usually comes with a slowing of the housing market traffic, resulting in fewer homes being newly listed.  Though there may be limited selections, and less buyers looking to purchase during the holiday season, it can still offer potential to sellers who can capitalize by making their properties stand out.  Listed below are some benefits of listing a property during the holiday season. Home sellers during the holiday season may benefit from the idea that the buyers may be more intent on purchasing, if looking during the slower times of the year.  Though there may be less home showings for your property, those potential buyers may be more ready to commit to a purchase sooner.  Another benefit may be less time constraints for the home closing pr

      When you make the decision to market your home, you may not know that some preparation could be useful in achieving your home selling goals. Here are three tips which can be beneficial to any potential seller in today's Real Estate market. 1) Check off some items on that "to-do" list   There may be a few small repairs, (such as a leaky bathroom faucet or bedroom doors that need adjusting) or there may be cosmetic issues, (such as outdated paint color on walls or peeling caulk along the countertops) that you've been putting off fixing. Tackling items that are typically easy fixes can make a major impact on how well your home shows to potential buyers.  2) Find the Right Agent   Look for an agent that makes you feel comfortable and confident in their services. As a Licensed Realtor with RE/MAX Regency, I believe in providing my clients with professionalism, reliability, communication and integrity. My goal is to help my clients, (whether buyers or sellers) achieve