5 Year Fixed 3.34%

5 Year Variable 2.70%

Open House: The Real Estate & Mortgage Show- November 18

Open House: The Real Estate & Mortgage Show- November 18

Date Posted: November 20, 2017

Frank Napolitano and Lisa Boutilier join Steve Gregory for this week’s edition of Open House-The Real Estate & Mortgage Show.

The team discusses some common tips to selling you home. Lisa discusses the importance of simple cleanliness when showing your home and when taking picture for your listings.

Frank discusses how more and more lenders are requesting appraisals, even for default insured mortgages, and how listings may influence that requirement if a red flag is present. These flags can sometimes be found in the descriptions which may state fixer-upper or needs TLC.

Purchase plus improvement program may then come into play when buyers need to make improvements on the home, such as a new septic system or roof. Lisa and Frank also discuss the importance of home inspections and how often they are requested. Lisa explains that sometimes in certain scenarios buyers may waive their right to an inspection on a home.  The team does always recommend having yourself or a representative attend this inspection.

The team talks the timing of the new mortgage rules and how lenders can adopt these rules at any point before the January 1st deadline. Working with a Mortgage Broker can help navigate these new regulations. Frank also mentions the frustration that some buyers with larger down payments and amounts of equity will encounter with qualifying under the new rules.

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