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We often hear the question "Who is supposed to pay for closing costs, the buyer or the seller? Traditionally there are closing costs on either side. In today's market we are seeing a lot of contracts coming in where the buyer asks for closing costs to be covered by the seller. Certain mortgage programs allow up to 6% seller concessions.  Often the Realtor can increase the purchase price so that the net difference to the seller is the same. When the sellers are able to offer closing costs to the buyer it does open up some more affordability, a larger buyer base, and many times a higher net sales price to the home seller.
Posted in:Home purchase
Posted by David Tehrani-NMLS ID #241609 on March 5th, 2015 3:04 PM
With new home sales down in January, many of our clients have been applying for home refinances. Currently, there are several great reasons to refinance. First, if you took out an FHA loan in 2014 or earlier, you can most likely lower your PMI insurance and interest rate without getting a new appraisal or verfying income. Or if you have a VA loan, we offer a streamlined refinance, again with no appraisal or income verification required. Other refinance options would be to lower your rate, reduce your mortgage term, eliminate PMI insurance, or "cash out" to do home improvemenents or consolidate bills. With the Federal Reserve putting the brakes on raising interest rates for the time being, it may the right time to refinance and save thousands of dollars.
Posted in:Refinancing
Posted by David Tehrani-NMLS ID #241609 on March 2nd, 2015 10:57 AM


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