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Virginia Mendez's Blog

By Virginia Mendez | Both Buyer and Seller in Lake Oswego, OR
  • Compare Home Loans And Find The Best Deals For Your Home Buying Plans

    Posted Under: Home Buying in Lake Oswego, Financing in Lake Oswego  |  December 20, 2011 11:11 PM  |  255 views  |  No comments
    Having a home that can be called their own is the dream of every individual. However, it is undeniable that not all individuals have the means to pay their dream home with cash. This is when applying for a home loan because another option. However, there are plenty of home loan choices available at present. So before you shop for homes say for instance, Lake Oswego homes for sale listed in quality Lake Oswego real estate listings online and offline, it would be ideal to become aware of the different loan options present in the market.

    Most Common Home Loan Choices Available

    •    Standard variable loan – Generally, these loans are flexible coming with attractive features like additional repayments and offset account features.

    •    Basic variable loan – This sometime comes with no feature at all or if there is; most likely it would only include the most basic features of a standard variable loan. The good thing with this loan is that it comes with low interest rates.

    •    Honeymoon or Introductory rate loan – In this loan type, the interest is offered at a very low rate within the first twelve months from the time the loan is acquired. Do not be surprised to see soaring high heaven interest rates after the honeymoon period expires.

    •    Line of Credit/Equity Loan – Borrowers who are allowed to avail of this type of loan are entitled to draw funds via the stored equity of the home. It typically comes with higher mortgage rates, though!

    •    Fixed rate Loans – In this type of loan, the interest rate is preset and inflexible within the predetermined length of time. This means you will never worry about increase in interest rates as dictated by the market.

    By comparing home loans, you will be at the better position of finding out which type of loan suits your financial situation. This will avoid being caught up in the wrong financial situation.

  • Important Mortgage Loan Tips You Need To Know

    Posted Under: Home Buying in Lake Oswego, Foreclosure in Lake Oswego, How To... in Lake Oswego  |  December 20, 2011 10:22 PM  |  278 views  |  No comments
    When buying a home, the idea about mortgage and everything related with it should not be taken for granted. Take for example if you are buying one from the presently listed Lake Oswego homes for sale within Lake Oswego real estate listings; it is important that you make sure that you do not fall in the wrong mortgage deal so as not to suffer the negative consequences later on.

    Before proceeding with mortgage application, you need to take into consideration some very essential reminders that others who have gone through this path will surely agree with.

    •    Deal with a reliable, honest and fair lender. It is important that you deal with a lender who will not take advantage of you. This is when careful research will be of great use and help.

    •    Stay away from interest only loans. It may sound attractive and favorable in the naïve understanding of some first-time home buyers; however, if you look at it intelligently, you will realize that you are not even paying for the possible ownership of the house. The truth is…you are merely paying for the interest of the money you borrowed.

    •    Choose a shorter-term loan payment. This would be ideal for those who have the ability to pay bigger than the required monthly mortgage payment.

    •    Never be enticed to accept offers that allow you to borrow more than the amount of money that you actually need. You might end up being trapped in a scrupulous scheme.

    And the most important reminder that you should always keep in mind is to keep up with timely monthly installments. In doing so, you will free yourself from the chances of incurring additional interest and late payment charges. Best of all, it will prevent worst implications like foreclosure.
  • How to Have an Ample Preparation in Buying Your Own Home?

    Posted Under: Home Buying in Lake Oswego, Home Selling in Lake Oswego, Property Q&A in Lake Oswego  |  September 5, 2011 12:51 AM  |  328 views  |  1 comment
    The value of the home
    The first step in buying a home is how to make an offer. The buyer should be aware in all homes that are being sell because it has a big impact in the property. If you are a buyer that is willing to work with a real estate agent like in Lake Oswego real estate you can ask him for certain analysis. The agent itself can show you all the properties being sale there and have a comparative analysis on the selecting your home. To make a validation of your analysis then you can update every time that there are interested buyers of certain properties and ask them about their interest. Your real estate agent in Lake Oswego real estate can give you updated prices iof the homes being sale in that area and as well as the final prices.

    Hand the money

    In making an offer it should be outline in a written form and with many details as possible. Your real estate agent and attorney should provide a standard form of agreement to have better and legal papers in owning the home and to make an offer. In most cases, all the buyers should show to the seller that he is sincere in his intention to buy the said home by completing the requirements in the said laps of time. The money that you will hand to the seller at that very point is same amount if you will pay in to the area where it is market. The said money will handed by the real estate agent or in any liable person to do so until the day of closing the offer. It is important for the buyer to know where these monies will be held as this is an item that should be written in the sales agreement at the time of offer.

    Financing the home
    Many standard forms that are related to financing. This is to assume that the seller should expect to the buyer that he in cash all the money that is needed, even the pre-qualification is a very nice evident that the buyer is qualified to buy the home 100 percent. Proof of funds is the most significant thing in home buying since it is the core of the entire home buying process. In the contract it should be attached by the pre-approval of your mortgage qualification and your legitimacy and capability in purchasing the said property.

    Lake Oswego homes for sale can make an offer with you very beautiful homes that will suit your lifestyle and making sure that you will be satisfied with all the services they will offer to you. They will make your life more comfortable and make your life worth living for. They can assure you that you would really feel the value of your home and how to live life to the full. They will please you as it should. Be surprise and be amaze with their home features in Lake Oswego homes for sale.
  • The Advantages of Buying than in Renting

    Posted Under: Home Buying in Lake Oswego, Home Selling in Lake Oswego, Property Q&A in Lake Oswego  |  September 5, 2011 12:48 AM  |  300 views  |  No comments
    You are secure
    A felling of security you would feel if you own a home and especially it is away form in inflation. You are the only one who holds the key

    You can invest
    Paying your mortgage meaning you are acquiring a possession over time. Just not like in renting the more you pay the more you will feel that you now own the home. The things you buy and the furniture that you purchase will now be valued since you now own the home.

    Many tax advantages
    Depending in your situation your entire mortgage can be deductible in your income tax. Check and ask you accountant what are the benefits you will get in home ownership. You can also ask your real estate in Lake Oswego real estate what are the benefits if you own a home.

    You can save money

     Home buying is much cheaper than renting in long run. In few years home renting is cheaper than home buying but later on the payment of the rent will increase as time goes by and especially when economic crisis occur.

    Proper leverage
    You can buy home nowadays as low as 5%. This is very possible with any investment. You can be sure that .you will only pay little amount of your down payment like when you acquire homes in Lake Oswego homes for sale. Expect that this down payment will not increase as much since they will maintain this to help other home buyers especially the first timer. In having this you are just like playing your favorite game. Believe that buying a home is cheaper and more practical than renting a home. Be sure that that you will buy home in good terms. Owning a home is our pride.

    Pride
     When you have your own home you will feel the satisfaction that you ever wanted and you would really feel the sense of accomplishment in many ways.

    Constant payments
    If you rent home, you would realize that you are spending your money much on the rent of the home than in your expenses. That’s why it is more preferable that you will buy a home than to rent because you will spend less on the maintenance than in your expenses.

    Credit opportunity
     If you own a home you can have your loan as soon as you want to. You can lend money anywhere because you will not think any other monthly payables. Any credit card companies will let you credit money in faster way since they will entertain first those who have their own home. You can also ask in Lake Oswego real estate.

    You have freedom
    If you own your home, you can do everything in your home as long as you want. No one will prohibit you since you own it. You don’t need approval in your landlord in time s when you want to repaint or decorate your home because it is now your own property especially in Lake Oswego homes for sale.
 
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