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real estate transactions Archives

How important is the debt-to-income ratio?

If you struggle with debt, you may wonder how it will affect your ability to buy a home in Pennsylvania. When it comes to how lenders decide if they will help you or not, it often comes down to one thing. This is your debt-to-income ratio. According to the Consumer Financial Protection Bureau, a debt-to-income ratio is the result of dividing your monthly debt by your monthly income.

How can I prepare my home for sale?

If you're thinking of selling your Carnegie home, presenting it in the best possible light is a must. Even an amazing home can be hard to sell if you don't take the right steps, which will allow you to attract a greater number of potential buyers. Forbes offers the following tips so that sellers will rest assured that their homes stand out.

Using strategy to negotiate a killer deal on your property

You have recently decided to list your property so you can take the equity and invest into other real estate opportunities. Your goal is to get the highest price you can, but this will require some negotiation on your part. At Gesk Moritz LLC Attorneys at Law, we have helped many people in Pennsylvania to work through the process of transferring a title without giving up too much. 

What should you know about choosing a lender?

The anticipation and excitement of purchasing your first home in Pennsylvania has you feeling all sorts of emotions. This accomplishment is something to be celebrated, and the enjoyment of your buying experience has a lot to do with the people you choose to work with. A lender will play an important role in facilitating the financial component of getting you into your home. Here are some helpful things to know about choosing your lender. 

How does your credit score affect your mortgage rate?

Getting your financial house in order before you buy a Carnegie home can save you as much as tens of thousands of dollars in mortgage interest payments. One area that prospective home buyers should look at is their credit score. Bankrate explains that your credit score can have a substantial impact on how high lenders will set your interest rates.

What is a short sale?

Simply put, a short sale is a method some Pennsylvania homeowners use to sell a house that has too much debt associated with it. Completing a short sale would not help you keep your home, but it could avoid some of the long-term financial penalties associated with foreclosure and help you get back on your feet more quickly. 

Considerations to take when buying a short sale

The real estate market can be quite complicated at times with constant ebbs and flows of properties that are full of promise. However, sometimes, buyers have to take a risk by considering homes that have been foreclosed or are labeled a "short sale" in Pennsylvania. Despite the sometimes-unsettling reputation that is tied to a short sale, if people understand what considerations to take before looking into purchasing one, they may find their decision to actually be quite successful. 

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