Jumbo vs. Conforming Loans How do you get a $560k house for the cost of a $525k house? No, it has nothing to do with negotiation, bargain hunting, or otherwise outmaneuvering home sellers. Rather, it’s strictly a financing play. Namely, by moving up just a little in price, Buyers today can avail themselves of cheaper jumbo loans (over $417k),...Read More
Nightmare Inspection Addendum: ‘Seller to Tighten Doorknobs, Dust Counters, etc.’ To the, oh, I dunno, 37 reasons why Buyers shouldn’t nitpick on the Inspection (it can cost them the deal, it jeopardizes Sellers’ good will (and assistance) post-closing, the scope of the inspection is supposed to be limited to material items, etc., etc.), add reason #38: anything on the Buyer’s list...Read More
Getting a Mortgage? Focus on the A.P.R., Not the Interest Rate One of the least remarked — but most important — numbers in residential real estate is the difference between a loan’s “face” interest rate, and what’s called the “A.P.R.,” or annual percentage rate. The latter captures the interest rate plus all the costs and...Read More
