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| Teri is also a realtor for:
Delaware County
real estate, Bucks County homes, Montgomery
County homes, Berks County homes and Philadelphia Main
Line property for sale.
A specialist in Chester County Pa real estate, Teri buys and sells homes in Downingtown, Chester Springs, West Chester, Exton, Coatesville, Parkesburg, Atglen, Phoenixville, Malvern, Kennett Square, Chadds Ford, and Avondale.
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Mortgage Information
Mortgage Programs
Pennsylvania mortgage information
Prior to signing a contract to purchase real estate, you need an understanding
of the financing which will allow you to reach your goal. Some mortgage
loans require no money down, while others have limited money down.
There are also numerous types of qualifying ratios, which are connected
with the actual loan restrictions.
Visit our NEW HOMES FOR SALE or Call us for a free brochure - 610-431-9700 ext. 121.
Mortgage programs exist for every type of situation:
- Little cash with poor credit
- No cash with good credit
- Financing after bankruptcy
- Low interest loans with large cash investments
- No income or asset verification type loans
- *Pre selection is the key.
*Pre-selecting the type of financing will allow you to purchase the most amount
of home for the least cash investment. Make your money work for you.
MONTHLY MORTGAGE PAYMENTS
ITEMS CONSIDERED AS MONTHLY FIXED HOUSING EXPENSE
* P.I.T.I *
- Principal - amount borrowed.
- Interest - monthly interest amount.
- Taxes - monthly payment for real estate taxes.
- Insurance - monthly payment for home owner's insurance.
*PLUS*
- PMI - mortgage insurance premium for less than 20% down.
- HOA Fees - monthly fee in pud or condo.
- The best way to get started with mortgage financing is to obtain
a mortgage pre-qualification. This will help determine the best
loan type for your particular financial situation.
TIME IS OF THE ESSENCE!
- WITH EVERY 1% INCREASE IN RATES, YOUR BUYING POWER IS REDUCED
BY $10,000.00
- REGARDLESS OF THE INTEREST RATE, YOU CAN NEVER SAVE AT THE SAME
RATE OF INFLATION!
CREDIT TIPS
- Plan to use cash instead of credit for your purchases. If necessary,
postpone major purchases until savings are available.
- Restrict large purchases, since additional debt will affect
your mortgage qualifications.
- Stay informed on your credit balances. Uncertainty about how
much you owe is dangerous.
- Avoid skipping bills to make other payments. Although skipping
a payment may bring immediate relief, it is only a temporary solution
if you have a long-term problem.
- Contact creditors immediately if you have a problem.
- Maintain a savings plan to handle unexpected interruptions of
your income.
- Have your Real Estate Agent or Mortgage Agent run a preliminary
credit check prior to house hunting. At this time you will discover
if there is a problem of any type that needs attention.
- Utility companies are now reporting to the credit agencies.
Philadelphia Electric Co. for instance has become very strict
in collecting the monthly balances.
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Teri Freed, ABR, GRI
ERA Excellence
557 W. Uwchlan Avenue
Exton, PA 19341
610-431-9700 ext. 121
610-269-9881 FAX
610-574-0695 CELL
teri@freed2pa.com
PA Consumer Notice
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