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Sunday, July 03, 2005

What's Today's Rate?

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Owning your own home is part of the American dream. And now it could be your dream, too. The time is finally right, and you're ready to think about buying a place of your own. First, congratulate yourself for making a smart move. You could make your monthly housing payment work for you. Instead of paying rent, you will be building equity (the difference between what you originally pay for your home and its market value when you sell it). You are also giving yourself two major deductions on your annual tax return - the interest you pay on your mortgage and the property taxes you're billed each year. But now looming in front of you are two big questions:How much can I afford? How do I choose the right home? Here's a start at answering those questions...First, you will have to come up with a down payment - the amount you must pay up front before a lender is willing to give you a mortgage to finance the rest of the cost of a home.Generally, lenders want to see a down payment of 5% to 20% of the purchase price. The higher your down payment, the lower your monthly mortgage payments and closing costs will be. If you qualify as a veteran of the armed forces, you may be eligible for a Veteran's Affairs loan, which has the lowest down payment requirements. Likewise, a first-time home buyer may qualify for special terms. Once you know how much of a down payment you can afford, you will need to calculate the monthly mortgage payment you can handle. Lenders generally want your monthly payments (which include principal plus interest, property taxes and home insurance premiums) to equal no more than 28% of your gross income. They also figure you can handle total debt (mortgage payments plus car payments, credit card payments, etc.) up to a maximum of 36% of your gross income. Click HERE to find out TODAY's mortgage rate. Click HERE for MORTGAGE CALCULATOR

#Posted by Jessie at 10:32 AM


Saturday, July 02, 2005

Do you need a Realtor?

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People don't talk about it a lot. But finding the right real estate agent can be the difference between a happy, stress-free home buying or selling experience, and an unhappy-stressful experience. Buying or selling a home is one of the most important transactions of your life. You can find a great deal of information online to help you with that process. However, when it comes to understanding legal requirements, market values, marketing strategies, comparable sales, strategic negotiations and the closing process, you will want to have a licensed, experienced Realtor who can save your valuable time and money. To get the most fruitful result you must learn what your Realtor will do for you. First, you would want an agent who is always ready and able to make a full-time commitment to you in every step of the way. I can and will do that. Second, you would want an agent with the experience needed to know the local Southeast Michigan neighborhoods, schools, market conditions, ordinances, etc. With my extensive real estate background and experience in the Michigan real estate market I have the expertise and track record of success you need. Third, you also would want an agent who embraces the convenience of technology without losing the personal touch. You will love the resources available on my site and the seamless communication that I provide via this website, but of course all these will never replace the time I spend with you, serving as your personal guide through this exciting process. Let's get together and talk about your home buying and/or selling plans. Call me or send me an email, we'll set-up a time that is easy and convenient for you to meet.

#Posted by Jessie at 1:17 AM


Friday, July 01, 2005

News Flash

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Well, who would ever think that rising oil prices would have an effect on interest rates? Bankrate.com reports that "Long-term mortgage rates tend to move in the same direction as yields on 10-year Treasury notes, and those yields fell when oil flirted with $55 a barrel late last week."And the rationale for this? The article goes on to explain "Higher energy prices could add fuel to inflation, too -- and rising prices would put upward pressure on interest rates. But right now, bond investors are more worried about the effects of rising oil prices on economic growth than on inflation."Interest rates are down slightly this week from last week, with a 30 year fixed rate at 5.70% (down 0.05%). Most home buyers have been very happy with the interest rates they have been getting. Please make sure you shop around for a loan, as there are many loan programs to choose from. You will find many useful tips and information on my "Favorite Links", check it out!

#Posted by Jessie at 2:31 AM

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I am a licensed realtor based in Novi, Michigan. As one of the most experienced real estate professionals of COLDWELL BANKER, I have been using my expertise as well as my experience to assist many Michiganders with all kinds of real estate needs for years. Whether you are buying or selling real estate, I am always ready to help you discover the perfect outcome.

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Email: jessiekim@cbpreferred.com

- (734)416-5762 (Direct)

- (734)459-6000 (Office)

- (734)454-4517 (FAX)

- Office: 44644 Ann Arbor Road         

   Plymouth, MI 48170

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593 Whatever road - Novi, MI 48170 3BR/2BATH BILEVEL HOME, Call me

and make your appointment TODAY!!!

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July 2005

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