When you are buying a home, you will need a down-payment. For FHA you need 3.5%. The FHA Mortgage Limit, with a 3.5% down-payment, you can spend about $280,000 on your home.
Credit scores are also very important. For FHA you need at least 620 credit score.
Just realize that FHA is a very viable and solid option for your home mortgage. They have lower credit score requirement, lower down-payment and is government backed. It is a good option for many. It is different from stories you might have heard many years ago. FHA is a solid option.
For all your Tulsa, OK area mortgage needs, contact Karen Heston, BOK, at 918-230-9432 or visit her website. Reservation of Rights- Some may have gotten a letter in the mail, you will understand this. If you have turned in a claim to your insurance company and they are investigate the claim. Since they are not sure it is covered, they will send you a letter of reservation of rights. It will say that they are investigating the claim and are reserving our rights to deny the claim. They are letting you know that they are checking things out to make sure the claim is covered. If you get one of these letters, don't get too upset. The value of having an agent is being able to call them and ask them what the letter means. Should you receive a letter like this in the future, don't get too upset.
Is this enough Earnest Money?- Earnest Money is the deposit you make when you buy a house. It is different than the down-payment for your mortgage. The Earnest Money is a way to tell the seller you are serious about their home. As a buyer, you need to ask yourself "Does this show I am serious about this house". Would you walk away from $500 when you are a buyer. Keep in mind the price of the home you are writing a contract on. The more money you put down the more serious you come across. As a seller, you are taking your house off the market during this time. Will the amount of the Earnest Money be enough if the buyer walks away from the contract and your home has been off the market? There is a 48 hour rule in real estate where the EM check must be received and deposited. If the check doesn't clear, your agent should tell you about it. If a buyers back out of a contract, the buyer and seller must sign paperwork before the earnest money is returned to the buyer.
For all your Tulsa, OK area real estate needs, contact The Baskin Real Estate Specialists of McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.
Exterminating Pests in Tulsa, OK- Insects will usually come indoors during the cold weather. Carpet Beetles will come in and destroy your carpet. Many insects will want to get out once they come in your home, If you find little insects (third the size of a ladybug) in your windows, it could be carpet beetles. Carpet Beetles will eat the backing off of your carpet.
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