SCOTTKNOWSHOMES.COM Let me help you turn your dreams into realities!

S. Scott Saunders- Coldwelll Banker Waterman Realty



Your Team


Your Agent
A successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you (hopefully ME!), it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.

Lender (Appraiser)
A bank is not just a bank. Having the right backer can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Your lenders may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.

Settlement Officer
Your home purchase is far too important a transaction to skimp on a quality Settlement Officer at the risk of leaving yourself open to costly future issues. Find a one who is willing to take the time to answer your questions and who specializes in real estate closings.

Home Inspector
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent for a recommendation.

Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice.   I am a licensed MHIC contractor and have been working on construction sites since I was 11 (thanks, Dad!!!).  I will be more than happy to help you in this!


Who is part of this process?


Your Plan


1.  Find the right representative

Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your agent first and he or she can be helping to guide you right from the start.

2.  Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating).

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research.  Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!


Your Calculator


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Your Real Estate News

real estate - Yahoo News Search Results

Auction.com, LLC, the nation's leading online real estate marketplace, has launched the real estate industry's first Nowcast, a new housing report that combines industry data, proprietary company transactional ...

10/30/2014 7:00:00 AM

NORTHBROOK, Ill. -- Hilco Real Estate, LLC (www.HilcoReal.com ) set the Call for Offers deadline to sell the fully-equipped Pinnacle Athletic Club along the busy retail corridor of Edison Road in Mishawaka, ...

10/30/2014 8:27:30 AM

Oct. 29 (Bloomberg) -- Barbara Corcoran, founder of The Corcoran Group, discusses what's hot in real estate and the lessons she has learned during her career. She speaks with Bloomberg's Pimm Fox on "Taking Stock."

10/30/2014 6:28:05 AM

With capital spending in West Texas’ Wolfcamp/Cline Shale formation on track to exceed $12 billion this year, Taylor Consulting Inc. continues to explore desirable pro

10/30/2014 7:45:00 AM

SANTA ANA, Calif., Oct. 30, 2014 /PRNewswire/ --   Carrington Real Estate Services (US), LLC (Carrington), a corporately owned and operated national brokerage, today announced that it has acquired all ...

10/30/2014 8:30:00 AM

FAM Real Estate Investment Trust announces transformational acquisition of seven office properties located in the GTA

10/29/2014 5:24:00 PM

JACKSONVILLE, Fla., Oct. 30, 2014 /PRNewswire/ -- N-Play, the leading provider of real estate applications on Facebook, is pleased to announce that its TurnKey Suite service is now available nationwide.  Prior to this week, the service was only available within select markets. Agents across the United States will now have the ability to make their Facebook marketing efforts first-rate, through ...

10/30/2014 6:45:00 AM

Though investors don't always capitalize on it, history has a way of repeating itself. In fact, when I saw this last trend, I had to dust off my DVD copy of Back to the Future just to reminisce.

10/29/2014 9:30:00 AM

You know you want to. You can feel that itch, that need for something more, something of your very own. Many people consider taking more control of their career path but don't know where to start; you ...

10/28/2014 2:01:09 PM

Principal Real Estate Income Fund , which is traded on the New York Stock Exchange under the symbol “PGZ,” announced the declaration of monthly distributions of $0.14 per common share, payable on the dates noted below.

10/30/2014 7:15:00 AM


 


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