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Check School Research Paper

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WHAT IS A GOOD ZONE, THEN? Check schools. Even if you don't have a children, you should know that homes zoned for good schools have higher average price and they are also easier to resell. Drive through the area where you want to buy a house. Do it on weekends when there is no school. Look for bikes on the driveway or balls on the front lawn. That will give you answer to a question if there is a lot of kids in the area. After you determine that, check schools as it is explained above.

YOU FOUND YOUR DREAM HOUSE, LET'S START WITH THE INSPECTION-First, check roof, windows and furnace. These three things are most expensive items to replace or fix. Check them thoroughly. Usually, unwritten rule is - if the realtor doesn't give age of the roof …show more content…

There are plenty of types of mortgages: open and closed, with variable or fixed rate. There are also a lot of other things to be discussed with your lender, such as

- annual payment increases
- what are prepayment penalties
- is there any lump-sum or double-up payments
- interest rate differentials
- penalties to discharge and portability
- last but not the least: hidden fees.

Make sure to write down this check list and be ready to discuss it with your lender. Here is a simple mortgage math: lenders require applicants to meet certain Total Debt Service and Gross Debt Service (TDS and GDS) ratios. These ratios may vary from lender to lender but usually GDS should be 28% - 32% and TDS ratio should be less than 40%. TDS formula:(interest + principle + loan Payments + taxes ). GDS formula: (principle + taxes +interest).

CLOSING DAYS IN MONTH TO AVOID - this is a very helpful tip. In all that excitement about moving, people tend to forget these kind of things.
You want to avoid Fridays and last 3-4 days at the end of the month. Moving companies are usually a lot busy on Fridays. Days at the end of the month are typically the busiest time for real estate

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