Buying A Home | Tampa Bay Homes for Sale

Buying a Home with an HOA: 5 Things to Consider

A homeowners association, or HOA, is an organization that establishes and enforces guidelines in planned communities or condominiums. The HOA is usually responsible for the maintenance of common areas, some insurance coverage, and deed restrictions. Most buyers of homes or units within an HOA will automatically become members of the HOA, which means they will pay dues and be subject to the association's rules and regulations. Some homeowners association fees can be much higher than others, … Continue reading...

5 Deal Breakers When Buying a Home

When buying a new home, it can be extremely difficult to find something that you like and can afford, so you might feel pressured into making a decision right away. However, ignoring some major flaws in a property may quickly turn your new home into a money pit. Make sure you examine any home carefully before you make an offer, or better yet, hire someone to conduct a professional inspection. Here are some problems you may encounter when inspecting a property, which might make you reconsider … Continue reading...

RE/MAX Reject: Why Home Buyers should choose a RE/MAX Agent

Anyone can show you houses. Watch this video to learn why you should choose a RE/MAX Agent when buying your next home. https://www.youtube.com/watch?v=WtaAX4Cw9MI&feature=youtu.be Are You thinking of buying a Home in Tampa Bay? Use our site to search homes for sale in Tampa Bay and all of our surrounding areas. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated EVERY HOUR. By creating a Property Manager account you can stay on top of … Continue reading...

5 Easy Tips To Improve Your Credit Score

No matter what point you're at in life, it's a necessity to have good credit. It's especially vital if you're thinking of buying a home, but there are many other reasons as well. Some employers even look up your credit score before they will extend you an offer of employment. Fortunately, it doesn't have to be complicated to obtain and keep a good score, but it does require a little attention and discipline. 5 Easy Tips To Improve Your Credit Score Monitor your credit score regularly … Continue reading...

Who Pays a Real Estate Commission?

Whether you're buying or selling a home in Tampa Bay, here's what you need to know about who pays a real estate agent's commission. Who Pays a Real Estate Commission? In the vast majority of cases, the seller ends up paying a real estate agent's commission. That means buyers get a free ride - the agent who represents them actually gets paid by the seller. How Much is a Real Estate Commission? On average, a real estate commission is between 5 and 6 percent of a home's final sales price. That … Continue reading...

What is PITI?

If you’re buying a home for sale in Riverview and you’re like most people, you’re going to need a mortgage loan to purchase. However, you have to understand what your house payments will be like – and the first thing to know is what PITI stands for. What is PITI? PITI is an acronym that references the four factors that influence your monthly house payment: Principal Interest Taxes Insurance Principal Principal is the amount you borrow from a lender, and it refers to the … Continue reading...

What is DTI?

If you’re buying a home for sale in Riverview, it’s time to get familiar with lending terms – and one of them is debt-to-income ratio, or DTI. What is DTI? Debt-to-income ratio is a factor that lenders use to determine whether you’re likely to have enough money to pay them back for a mortgage loan. Your DTI is the percentage of your total monthly debt compared to your monthly income. The formula looks like this: Monthly expenses/monthly income = DTI Most lenders want your … Continue reading...

What is PMI?

If you’re buying a home for sale in Riverview and using a loan to do it, you may have to learn about private mortgage insurance, or PMI. What is PMI? Private mortgage insurance (PMI for short) is a type of insurance that protects your lender in the event that you don’t make your monthly mortgage payments. Typically, PMI is required for buyers who are putting down less than 20% as a down payment on a mortgage loan. (Lenders believe that someone who’s willing to put down 20% is more invested … Continue reading...

How Long Do You Have to Pay PMI?

If you’re buying a home for sale in Riverview and will have to pay private mortgage insurance, or PMI, you’re probably wondering how long you’ll have to make these extra payments. How Long Do You Have to Pay PMI? For a conventional loan, you won’t have to pay PMI for the full length of the mortgage. However, you will have to pay it until you’ve paid the mortgage down to 78 percent of the home’s value when you purchased it. At that point, on a conventional loan, your lender is supposed to … Continue reading...

How Seriously Do Lenders Take Your Credit Score?

If you’re like most people buying a home for sale in Tampa Bay, you know that your credit score affects the interest rate you’ll be able to get on a mortgage loan. But how serious is it, and how do credit scoring agenices even figure out what your credit score is? How Seriously Do Lenders Take Your Credit Score? Lenders look at your credit score to determine whether you’ll be able to repay a mortgage loan if they decide to give you one. They want to see that you have a solid credit history … Continue reading...