Closing costs and down payments are factors to consider when saving for home ownership, let's break them down

• 3 days = 3 days after submitting their loan application buyers receive a loan estimate and 3 days after submitting their loan application buyers receive a closing disclosure. The closing disclosure includes final details about the loan and the closing costs.
• A portion or all of the closing costs can be negotiated to be paid by the seller as part of the deal and some lenders help with them but be prepared at the outset for closing costs to be 2-5% of the purchase price.
• Down Payment = traditionally this is 20% of the loan amount to avoid paying PMI (primary mortgage insurance - fee added on to your monthly payment) however you can have less down and pay PMI or you may be able to qualify for various down payment assistance programs.
• Don't forget other fees for utilities and moving costs/storage of things if there is a gap and those short term living arrangements.

Have questions? Want more information on how to get started? Just want to chat through things as you begin to prepare? Contact me and I will help. I can provide information on down payment assistance programs and put you in touch with lenders so that you are able to evaluate your credit, what you can afford and what you need to have saved. The process doesn't have to be scary nor does it have to be rushed. It only requires a quick phone consult and you can be on your way in your time. 

Questions? Need Advice? Complete this form for more information.

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Take a look at the July 2020 Real Estate Market Reports for our area. These reports published monthly by Realty Executives of Hickory and LKN are a great source of information. Not only do they provide the number of transactions and their total amount for each county, they also give the average price of homes selling by county. 

If you are interested in buying or selling then they are great insight about the market. Homes are selling at 99.7% of list price with an average of 52 days on the market. That is great news for sellers! It is also a great time to buy with interest rates at an all time low. If you would like information on what your home is worth or what you can pre-qualify don't hesitate to ask me! I would love to help you. There are also helpful tools on my website that provide more information. 

For Caldwell county we now have a new report specific to that growing market. Did you know that I live in Caldwell county? I am a Hickory navtive but settled between Lenoir and Taylorsville, just over the Alexander county line in the desireable Ellendale area. If you are intersted in buying or have a home ready to put on the market then I am YOUR agent! Homes here are closing at 100% list price. It is a growing area with lots to offer. As a gateway to the mountains, definitley a great place to live. Let's chat about beautiful areas that you may be intersted in.