The Hays Daily News Real Estate Center

RELOCATION TOOLS

MONEY MATTERS

INFORMATION CENTER

SPOTLIGHTS

Ask A Professional

Buying and selling a home can be very stressful and difficult process. Questions arise and you may not have the answers. Professionals from around the area are here to help fill in the blanks.

Home Buyers Checklist

The Home Buyers checklist indentifies some fo the important factors to consider when choosing a home. In addition to an affordable sales price, you will also want to be sure that the neighborhood and house meet the neesd of your family.

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Request relocations information today. Sign up to receive The Hays Daily News FYI newcomers guide plus a community guide courtesy of The Hays Area Chamber of Commerce and special welcome offers from local businesses.

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Being a Smart Borrower

Mortgage rates, terms, requirements and settlement service costs vary from lender to lender. For the best deal, check out commercial banks, savings and loans, credit unions and insurance companies. Compare rates and requirements on appraisals, credit reports, surveys, title searches, settlement service costs, title insurance fees, points and prepayment penalties.

Ask lenders if their own customers get more favorable terms. it may pay to transfer accounts or credit cards to their facility. Ask about an open-end clause, allowing you to borrow more money later without refinancing. Ask potential lenders to provide a written good-faith estimate, comparing each type of mortgage line by line. Ask about capping an adjustable rate mortgage, to limit the amount the interest can increase each adjustment period and overall. To avoid negative amortization (interest being added to the mortgage's principal), make sure your payment amount rises with each interest rate increase. Ask about a conversion provision allowing you to change to a fixed rate mortgage at a specified point in the life of the ARM.