Skip a payment?If you were looking at getting a better return on your investment immediately with cash flow here is an option...Most mortgage companies have the option of skipping a mortgage payment or 2 or even 3 in some cases. Some banks make it as simple as going online to your accounts and clicking a button. At the Royal Bank, for instance, you can simply go online to your Mortgage account and it will tell you how many mortgage payments you can skip. Then you just click a button and you’re done! Others places require a signature at the bank. So, if you’re looking to get a larger cash return this year, check out the options on your investment properties and see if you can skip a payment. This does extend the time frame in which you pay off your mortgage and you will pay a bit more in interest but it’s an option.#RealEstate#CashFlow#NiceToHaveOptions#MoreCashInYourPocket#TeamKanderLifeHacks#MortgageOptions
“Amortization” means how long it will take you to pay off your mortgage. A typical mortgage is amortized over 25 years, so that means if you bought the house and made your payments on it for 25 years you would own it. You can choose different amortizations such as 15 or 20 years or really any amount. The amortization years you choose could lessen the amount of interest you pay and you would pay off your home faster. It doesn’t actually cost much more per month to save years of payments.For a free home evaluation go to www.whatsmyreddeerhomeworth.com#TeamKander#RealEstate#Amortization#Mortgage#OwnYourHomeFaster
An RPR is something you need to be familiar with when you buy or sell a house. Known now as a Real Property Report it is what used to be called a “survey”. This shows where your house sits in relation to the land that you own. In some cases, a Real Property Report also shows fences, driveways, decks, garages, and sheds. This is important for you to know and the bank generally requires that you have a current RPR or else “title insurance”. You want to make sure that there is nothing encroaching on your property and that your boundaries are determined.For a free home evaluation go to www.whatsmyreddeerhomeworth.com #TeamKander#RealPropertyReport#RealEstate#KnowYourBoundaries
Realtors often use the acronym CMA. This means Comparative Market Analysis. Essentially it is a process that we complete looking at comparable properties for sale, recently sold, and those that have expired and then using that data we can help you determine the best price to ask for your home in this market. It is a type of appraisal on your home but it’s not a certified appraisal so not one that your bank can typically use. At TeamKander we generally do this at no charge for our clients. Call us or go online at www.whatsmyreddeerhomeworth.com for your current CMA. #TeamKander#www.whatsmyredderrhomeworth.com#RealEstate#MarketAnalysis
