Well, Spring is definitely in the air! And with it comes the ever-increasing urge to make your life complete with a piece of our wonderful lake here at Smith Mountain, VA. To help you on with your journey, I searched through the website I spoke of the other day, RealEstateABC.com, and found another article that may prove of interest to those of you interested in buying property here at Smith Mountain Lake.
It outlines a pertinent topic, "How Financing Details Affect Your Offer" and contains some really great information and tips such as down payment, interest rate, asking for closing costs and financing incentives, seller financing, cash offers and other financing details in your offer. It also has links to other pages with topics like "How FHA and VA Financing Affects an Offer" and "Home Buying Tips".
Some of the highlights of the article are quoted here:
Another reason for including financing information in your offer is to protect yourself. If interest rates suddenly become volatile and rise quickly, as sometimes happens, you may looking at a mortgage payment much higher than you anticipated. By putting a maximum acceptable interest rate in the offer, you are protecting yourself from such an occurrence.
Quite simply, there’s alot of valuable information to gather at this website. To read the entire article, click here.