Don't Go Shopping for a New Home Before You Know Exactly How Much You Can Spend!  You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you. In the pre-qualification process, you will find out: - Exactly how much home or land you can afford. - How much cash you will need for the down payment. - The minimum down payment, and advantages of higher down payments. - What the bank feels you can afford for a monthly payment. I help buyers pre-qualify for mortgages every day. Simply fill out the form below to get started. Remember: I will respect your privacy! I know this is your personal information, and I will not distribute it to anyone, other than to my preferred mortgage broker. This service is also provided free of charge, without any obligation on your part. It is part of my job as a top Cape Coral, Fort Myers, Punta Gorda and Miami real estate agent to offer services such as these. Once you fill out the form, I will quickly process your information and get right back to you! I can help you pre-qualify for your mortgage. It's my job! This is free and without obligation...
About Appraisals >Three Caballeros
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.
Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.
This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.
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Which famous home designed by Thomas Jefferson showed forms of Greek and Roman architecture?
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Monticello, begun in 1769, was later enlarged in keeping with its classical forms. |
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Peter Pena
Bay Water Realty
860-B SE 46 Lane
Cape Coral, FL 33904
Toll Free: 800-875-6182
Cell: 239-440-9550
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peterrealtor@NUMBER1EXPERT.com
17 years experience Real Estate Advantage Training, Member Realtor Association Greater Fort Myers & The Beach, Member Florida Association of Realtors, Member National Association of Realtors, Member WCR Fort Myers Member regional mulitple listing service (MLS) and Professional Mortgages Broker. Full Time Realtor Servicing All Lee County and Miami Dade County.
My Specialities waterfront / luxury Homes, Cape Coral-Fort Myers-Sanibel and Miami. Languages Spoken English, Italian, Portuguese and Spanish
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