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Mortgages and Finance are important topics to Buyers, Sellers and Investors in Western New York. Find out the importance of pre-qualifying for a mortgage, credit scores and financing options including Hard Money lending. Important information about your financial future, taxes and savings.

Bad Appraisals

Bad Appraisals

TODAY’s real estate expert Barbara Corcoran explains how low home appraisals are causing frustration and disappointment for buyers and sellers and she offers advice about how to avoid them. Visit NBCNews.com for breaking news, world news, and news about the economy For more information call Colleen Kulikowski (716) 650-0051   Thinking of [Continue]

Low Appraisals Still Causing Problems in Some Deals

Low Appraisals Still Causing Problems in Some Deals

The real estate market is on the upswing – but are those improvements being reflected in home appraisals?  When many potential buyers push the selling price of a home higher than the asking price – which isn’t unusual in neighborhoods where the demand is high – problems are arising because the appraisers are coming in [Continue]

How to save money for your WNY down payment

How to save money for your WNY down payment

Overwhelmed at the prospect of saving money for a down payment for a Western New York home? Here is a great way to start saving for your WNY home - your coffee drinking habit could be eating away at money that you could be saving for that down payment. Do you go out and get yourself Starbuck, Tim Hortons, or Dunkin Donuts coffee everyday in the [Continue]

Making Sure You Meet the Criteria for a Home Loan

Making Sure You Meet the Criteria for a Home Loan

Mortgage rates Mortgage rates are expected to stay below 5 percent for the remaining part of 2012. This is basically a continuation of what we saw in 2011. Average rates for a 30-year fixed mortgage remained below 5 percent the previous year. Though for the last four months of 2011, the rates hovered in the [Continue]

Foreclosure is a process — Not a type of Sale

Foreclosure is a process — Not a type of Sale

A foreclosure is the process that a bank, homeowner and property go through when the homeowner is behind on the payments. Foreclosure has become the sexy word that the media has used. Bank Owned, Government Owned, Short Sale or Distressed Sale -- well those words aren't as sexy as the word Foreclosure. The media needs a sexy word to sell [Continue]

Why you should pre-qualify for a mortgage before you start your WNY home search!

Why you should pre-qualify for a mortgage before you start your WNY home search!

Mortgage Pre-approval Advantages Knowledge — You will know exactly how much you can afford before you start home shopping. Competitive advantage — Sellers and real estate agents will consider you a serious buyer. Speeds time to closing — Since you are preapproved you can move into your dream home much faster! Know Exactly How [Continue]

Documents to gather before meeting with your Mortgage Professional.

Documents to gather before meeting with your Mortgage Professional.

Buying a home is not so difficult if you know what is going to happen along the way. Before you start looking at houses and falling in love with the perfect home, apply for your mortgage and at least get a pre-approval. This will allow us to ensure you are seeing homes that you can afford. There is nothing more frustrating to a Buyer than to fall [Continue]

Earnest Money Deposit on your new Buffalo home purchase

Earnest Money Deposit on your new Buffalo home purchase

What is Earnest Money Deposit? When you write an offer to purchase your Western New York dream home you will place an “earnest money” deposit. This deposit shows the seller that you’re serious about the offer to purchase the property. The amount of earnest money deposit varies based on the type of property being purchased. [Continue]

What Happens if my House Doesn’t Appraise for the Full Price?

What Happens if my House Doesn’t Appraise for the Full Price?

Congratulations! You just got a better than full price offer on your home for sale after having multiple offers. You have gotten through Attorney Review and Home Inspection and the buyer is getting their mortgage approval. Everything is moving smoothly or so you think. The buyer’s mortgage company sends out an appraiser and this is [Continue]

Your credit report

Your credit report

In determining how much you can borrow to purchase a home, lenders look at a number of factors. The most important are these: your income, your debts, the amount of your down payment and your credit history. Lenders view your credit as an indicator of your willingness to repay a mortgage loan. Having poor credit [Continue]

Getting Mortgage Pre-approval

Getting Mortgage Pre-approval

Getting pre-approved for a mortgage     So you’ve decided to buy a place of your own. Congratulations! It’s one of the most important decisions you’ll make in your lifetime. But before you start your search, there’s an important step you should take – get pre-approved. A pre-approval indicates that you have been conditionally [Continue]

Loan Application Checklist for Buyers

Loan Application Checklist for Buyers

If you are not purchasing your Western New York home outright with cash, part of that process is obtaining a Mortgage. Since applying for your Mortgage can be confusing, we have assembled a list of all the documents you will need for your WNY home mortgage application.  Having all of this information when you initially [Continue]

Helpful information regarding the STAR Exemption

Helpful information regarding the STAR Exemption

School Tax Relief Exemption (STAR) Information Basic STAR (no age limit and Income under $500,000) Application RP-425 completed and signed Ownership of 1,2 or 3 family home or condominium Must be primary residence Copies of two (2) proofs of residency per household must accompany application Acceptable forms of proof include: Current Drivers [Continue]

1031 Tax Exchanges | The Basics

1031 Tax Exchanges | The Basics

A 1031 exchange can defer the capital gain taxes that are due when you sell property that has increased in value or been depreciated for tax purposes. Section 1031 of the U.S. Internal Revenue Code allows investors to defer capital gains taxes on the exchange of like-kind property. A 1031 Tax Exchange, or tax-deferred, exchanges hold great [Continue]

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