Buying a home should be enjoyable.
Buying a second home should be exciting.
Buying a mountain investment property should be fulfilling.
Sounds simple, right? It can be…
WE GUARANTEE SATISFACTION
We know that everyone has different timelines, goals and needs. Our job is to understand those important factors and guide you to a property that will satisfy those objectives.
And, because we also know that things change – if you are not happy with the property you purchased for any reason – or your life has went in a different direction
within the first 18 months of ownership, we’ll sell it for you at no cost! That’s our BUYER’S GUARANTEE!
Life’s too long to not be simple…even when it comes to the biggest purchase you’ll probably ever make.
We get a lot of compliments about our name and we like to say that it’s also our mantra – The Simple Life.
LOVE YOUR NEW HOME…OR WE’LL SELL IT FOR FREE!*
There’s a lot to know and learn when you’re new to small town, mountain investing or living.
Below are some common concerns and questions that we are asked about often. If you don’t find the answer to your question – contact us – We’re always here to help.
Buyers FAQs
How much should my downpayment be?
The more the better – obviously. Most lenders prefer 20% or more for conventional loans, but there are
loan options where you can put down less. Do too little and you might have to pay for mortgage insurance…
talk to your realtor to explain it all to you.
What is a FHA loan?
The Federal Housing Administration offers mortgage loans where you only have to have a 3.5% down payment. These loans are usually easier to qualify for and normally have
a slightly lower percentage rate. Additionally – you only need a 580 credit score for an FHA loan…but the higher your score, the less interest you’ll have to pay. But know this –
you can only have one FHA loan at a time. It’s perfect for a first-time homebuyer!
What does it mean to be pre-qualified?
Getting pre-qualified for a home loan requires that you select a lender to work with for your loan.
They will ask you some preliminary questions and if all looks good, they will promise to let you borrow up to
a certain amount of money at a specific interest rate. But remember, this is subject to the property
you select appraising for the correct amount, etc.
Pre-qualificaiton can make the difference between getting a home and losing out in a “hot” market.
If all things are equal – sellers will choose a pre-qualifed buyer if multiple offers are received. It shows you are serious about buying and is likely to give you an advantage over other buyers.
What is VA?
A VA loan is available to eligible veterans, as well as active duty service members and their families. These loans are available through the Veterans Administration and require no down payment or mortgage insurance.
I’ve heard of HOMES FOR HEROS. What is that?
The Simple Life Real Estate Company offers a program called Homes For Heros to save “everyday heroes”
money on buying a home. Heroes like teachers, emergency responders like EMS, Fire, Law Enforcement, doctors, nurses and Veterans can qualify. Ask us more about this program.
Do all banks offer FHA loans?
NO – before any bank can offer an FHA loan, they must be approved by the Deparment of Housing and Urban Development. So shop around…
Are there any programs to help first time homebuyers?
YES! Here are a few: FHA (and section 203K), USDA, VA, Good Neighbor Next Door, Fannie Mae, Freddie Mac, Energy-efficient Mortgage (EEM), Native American Direct Loan, Homes for Heros…
Tell us about your situation and we’ll try to find a program to benefit YOU!
What is an ARM?
It is an Adjustable Rate Mortgage. The initial interest rate is usually low but as interest rises, so does you payment at various intervals. It’s a great way to get into a home for a smaller payment IF you think interest rates are stable (and will remain that way) or you think your ability to pay more will increase over time. You can also usually refinance and get into a conventional, fixed rate mortgage along the way. But beware – there are lots of different ways these are done – we’ll help you navigate through this paperwork to make sure you know all the ins and outs.
What are “points”?
You can purchase points on your mortgage loan to lower your interest rate.
Are there tax benefits for home ownership?
YES! Go to the IRS website and read Publication 530 titled Tax Information for Homeowners…or ask us and we’ll tell you what we know.
Things like loan discount points, mortgage interest, real estate taxes and loan origination fees are often deductible on taxes.
How do I know what I an really afford?
That’s a tough question…so here’s an example: if you earn $56,516 (the average household income) you can afford $1,695 in total monthly payments, according to the 36% rule. This rule, which measures your debt relative to your income, is used by lenders to evaluate how much you can afford. But remember, items like credit card balances, car payments, medical bills, etc
can affect what you’d be COMFORTABLE affording. You don’t want to be “house poor” and not have money to do the things you love!