Amortization Schedule - A complete schedule of periodic blended loan payments, showing the amount of principal and the amount of interest that comprise each payment so that the loan will be paid off at the end of its term. Early in the schedule, the majority of each periodic payment is interest. Later in the schedule, the majority of each periodic payment is put toward the principal.
Appraised Value - An "appraisal" is a comprehensive report that determines the value of your property based on a number of valuation factors, ranging from gross living space, to the view and the year a property was built. If you plan on purchasing a new home or refinancing your current loan, you will need to order an appraisal. Usually a bank or mortgage broker will handle this for you, but you will still have to foot the bill unless it's built into your mortgage rate.
Fixed-Rate Mortgage - A "fixed-rate mortgage" is the most ordinary and uncomplicated mortgage available to homeowners today. As the name suggests, the interest rate on a fixed mortgage does not change during the entire duration of the loan, which is typically 30 to 35 years.
Interest Cost - Interest cost is one measure of loan economics. However, other measures such as lender fees and loan closing costs, tax benefits and consequences, principal reduction, and opportunity costs in the form of re-investment rates should also be included in a thorough analysis of loan choices.
Broker - In the United States, real estate brokers and their salespersons (commonly called "real estate agents" or, in some states, "brokers") assist sellers in marketing their property and selling it for the highest possible price under the best terms. When acting as a buyer's agent with a signed agreement (or, in many cases, verbal agreement, although a broker may not be legally entitled to his commission unless the agreement is in writing), they assist buyers by helping them purchase property for the lowest possible price under the best terms.
Listing - Exclusive right to sell, in this type of agreement, the broker is given the exclusive right to market the property and represents the seller exclusively. This is referred to as seller agency. However, the brokerage also offers to co-operate with other brokers and agrees to allow them to show the property to prospective buyers and offers a share of the total real estate commission.
Appraised Value - An "appraisal" is a comprehensive report that determines the value of your property based on a number of valuation factors, ranging from gross living space, to the view and the year a property was built. If you plan on purchasing a new home or refinancing your current loan, you will need to order an appraisal. Usually a bank or mortgage broker will handle this for you, but you will still have to foot the bill unless it's built into your mortgage rate.
Fixed-Rate Mortgage - A "fixed-rate mortgage" is the most ordinary and uncomplicated mortgage available to homeowners today. As the name suggests, the interest rate on a fixed mortgage does not change during the entire duration of the loan, which is typically 30 to 35 years.
Interest Cost - Interest cost is one measure of loan economics. However, other measures such as lender fees and loan closing costs, tax benefits and consequences, principal reduction, and opportunity costs in the form of re-investment rates should also be included in a thorough analysis of loan choices.
Broker - In the United States, real estate brokers and their salespersons (commonly called "real estate agents" or, in some states, "brokers") assist sellers in marketing their property and selling it for the highest possible price under the best terms. When acting as a buyer's agent with a signed agreement (or, in many cases, verbal agreement, although a broker may not be legally entitled to his commission unless the agreement is in writing), they assist buyers by helping them purchase property for the lowest possible price under the best terms.
Listing - Exclusive right to sell, in this type of agreement, the broker is given the exclusive right to market the property and represents the seller exclusively. This is referred to as seller agency. However, the brokerage also offers to co-operate with other brokers and agrees to allow them to show the property to prospective buyers and offers a share of the total real estate commission.
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When buying Real Estate in Barrie, ON you should call a Professional Home Inspector in Barrie. When buying or selling in Barrie ON choose from Professional Real Estate Agents in Barrie, ON
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