You have probably heard of Fannie Mae, especially in relation to the housing crisis, but do you know what Fannie Mae actually does? Fannie Mae, also known as the Federal National Mortgage Association (FNMA), is a government-sponsored enterprise that was created by Congress in 1938 to stimulate the housing market by making home loans more available to low- and moderate-income buyers. Fannie Mae is not a lender, so it does not provide or originate home loans to borrowers. Instead, Fannie Mae … Continue reading...
What Does a Seller’s Agent Do?
When you’re selling your home, whether it’s in Uptown Charlotte, Mint Hill, South Park, or Ballantyne, you're going to want the expert help of a Charlotte Realtor(R). But what does a seller's agent do, and why shouldn't you sell your home yourself? What Does a Seller's Agent Do? A seller's agent performs a range of tasks, from marketing the home to arranging showings and setting up open houses. Seller's agents also represent their clients during negotiations, including counter offers and … Continue reading...
How to Prepare Your Home for Sale
When you’re selling your home, whether it’s in Uptown Charlotte, Mint Hill, South Park, or Ballantyne, you need to prepare it for the market. But short of hiring a professional home stager, how are you supposed to do that? How to Prepare Your Home for Sale When you’re ready to put your house on the market, your Charlotte Realtor® will talk to you about what you need to do to get it ready. Here’s where you can start. Make Your House Less Personalized It’s time to pack up family photos, … Continue reading...
What is an Adjustable-Rate Mortgage?
Buying a house is a big adventure—and so is choosing the right mortgage. That’s true whether you’re buying a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne. In some cases, an adjustable-rate mortgage is the right choice. What is an Adjustable-Rate Mortgage? An adjustable-rate mortgage, unlike a fixed-rate mortgage, is commonly called an ARM. It’s a mortgage loan with an interest rate that can … Continue reading...
What is a Fixed-Rate Mortgage?
Whether you’re buying a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne, if you’re like most people, you’ll need to take out a mortgage loan to pay for it. Mortgages—and shopping for them—can be pretty complicated, particularly when it comes to choosing the type of mortgage that’s right for you. What is a Fixed-Rate Mortgage? A fixed-rate mortgage lets you, the borrower, know exactly how much … Continue reading...
What is Amortization?
When you buy a home, whether it’s a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne, you’re most likely going to need a mortgage loan. If that’s the case, you’re going to have to understand amortization. What is Amortization? Amortization is an accounting term that refers to what happens when you pay off a debt over time. In the case of a mortgage, part of each payment goes toward interest; the … Continue reading...
3 Great Reasons to Buy a Home This Summer
Whether you’re thinking about buying a home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne, there are three great reasons you should act now to stop renting. 3 Great Reasons to Buy a House in Charlotte This Summer In addition to pride in ownership—one of the biggest reasons people purchase homes—there are three terrific reasons to talk to a Charlotte Realtor® about buying your first house. Value … Continue reading...
What is a Home Warranty?
Buying a home warranty is, in many cases, a smart choice. That’s true whether you’re buying a condo home for sale in Uptown Charlotte, a single-family home for sale in Mint Hill, or even a condo in another area such as South Park or Ballantyne. But what is a home warranty, and how could it help you? What is a Home Warranty? A home warranty is a package you can purchase that will cover your expenses (for the most part) in the event that your new home’s appliances or systems break down due to … Continue reading...
USDA Rural Mortgage Loans 101
If you’re like many people, you’ve heard of USDA homes for sale in Charlotte and the surrounding communities. But what about USDA rural mortgage loans? Do you know what they are, who can apply for them, and why they exist? What is a USDA Rural Mortgage Loan? A USDA rural mortgage loan, which used to be called the “farmers loan,” is one of only two real 100 percent financing options (the other is the VA loan). That means there’s no down payment necessary; everything you need to buy the home … Continue reading...
Differences Between Condo Ownership and House Ownership
If you’re like most people looking for a new home, you know the main differences between owning a condo and owning a single-family home. Condos are attached; single-family homes are not. But what about the nuances of ownership? Condo or House: What’s Best for You? The fundamental differences between a condo and a house are pretty apparent. For example, a house will likely: Have a private yard Require outdoor maintenance (including yard work, unless your homeowners’ association hires … Continue reading...