The Sharpe Mortgage Team brings you news this week about real estate disclosures, USDA home loans, and jumbo loans. Click below to learn more about these topics:
Haunted House or Hidden Gem? A Realtor’s Guide to Disclosures - When purchasing a house, various considerations naturally come into play, such as its location, price, and condition. Yet, one aspect of a property that buyers might not immediately think about is its historical background, particularly if it entails paranormal or peculiar incidents. Real estate agents need to be aware of the legal responsibilities associated with disclosing a property's history, including any unusual occurrences. In the following discussion, we will delve into the matter of property disclosures and offer guidance on how to navigate this sometimes-enigmatic terrain.
Explaining USDA Home Loans - In the realm of home buying, most homebuyers are well-informed about the usual mortgage choices like conventional loans or FHA loans. Yet, there exists an alternative form of home financing tailored to enhance homeownership opportunities in rural and sparsely populated regions: the USDA home loan. Offered by the U.S. Department of Agriculture as a part of its Rural Development initiative, these loans are purposefully structured to encourage homeownership in rural and eligible suburban locales by offering cost-effective financial solutions to eligible applicants.
Understanding Jumbo Loans - If you're on the hunt for that dream luxury home, a jumbo loan might just be the ideal choice for you. As its name implies, a jumbo mortgage surpasses the typical size of conventional and other mortgage loans. A loan qualifies as a jumbo loan when the mortgage amount exceeds the limits defined by Fannie Mae and Freddie Mac. Opting for a jumbo loan could be the most suitable course of action if you're seeking to borrow a larger sum for a home purchase or refinancing, aiming for more flexible rates and terms, and prefer to avoid pre-payment penalties.
Have you been thinking about purchasing a home in Winston-Salem or the Triad? The Sharpe Mortgage Team would love to help! Contact us today to learn more!
