The Importance of a Good Real Estate Agent

real-estate-agentIf you’re ready to become a homeowner, or it’s time to sell and you’re looking for a new home, it’s important to work with someone with local credibility and a reputation for honesty.

For home buyers, the real estate market can be foreign. Therefore, working with a trustworthy real estate agent will help home buyers feel more comfortable. Below are reasons why it’s important to work with a local real estate agent.

The real estate agent will know and understand the market.

Real estate agents are needed to understand the state of the local market and they take it as a full time job. In fact, they fully understand the conditions of the market for the last five years. Their knowledge of the market will allow them to use their experience and expertise while keeping the home buyer’s best interest in mind.

Information Interpretation

An agent will be able to provide home buyers with advice and confidence regarding real estate decisions. This will help protect the home buyer’s investment by assisting them in making a well informed and responsible purchase.

The real estate agent can help lower costs associated with buying a house.

Closing costs are additional costs to the buyer that must be paid before or at the time of settlement. These closing costs will typically consist of prepaid items such as your property taxes and insurance. Most often, any additional fees are then split between the buyer and the seller. However, we recommend that you urge your real estate agent to negotiate these fees to ensure you are able to get the lowest closing costs possible.

A good real estate agent is someone who has been in business long enough to become well established in the area. They will be able to earn your trust by being good listeners and using their knowledge to assist you through the home buying process.

The Copeland Mortgage Team has been in mortgage banking for over 10 years and would be happy to point home buyers to a real estate agent we know and trust.

For more information on the importance of a good real estate agent, or for a recommendation, contact the Copeland Mortgage Team at Midwest VA Loans today.

What is PMI and How Can I Avoid it?

primary-mortgage-insurancePMI, also known as Primary Mortgage Insurance, is put into place to simply protect a lender in the event that a home buyer defaults on their mortgage.

From the mortgage lender’s perspective, PMI is necessary in order to protect their investment and in turn, keep their rates low. This ensures that a mortgage lender can safely do business with you.

When is a PMI payment needed?

A mortgage lender is often going to require a PMI payment if the borrower does not provide a 20% down payment on the home. If this is not possible, the loan becomes a riskier investment for the lender, therefore requiring primary mortgage insurance.

How does PMI work?

Your PMI payment is paid monthly along with the overall mortgage payment to the lender. Once the principal amount increases over the years and the amount has passed the 20% threshold, a borrower may be able to contact their mortgage lender for a lower PMI payment or to have the payment removed.

How can I avoid a PMI payment?

If you are working with the Copeland Mortgage Team, you can avoid monthly PMI payments in 2 ways- by putting down 20% on your new home, or by being eligible for a VA loan.

If you aren’t eligible to avoid a monthly PMI payment in either of these ways, remember that after putting down the original 3.5% or more, you are building equity in your home each month and getting closer to reaching that 20% mark.

The benefit of a PMI is that becoming a homeowner is made easier by significantly lowering down payment requirements. Also, keep in mind that if you’re eligible for a VA loan, a down payment is not required.

If you have any questions about how PMI works, or would like more information about applying for a home loan, contact your local mortgage expert– Darren Copeland at 816-875-6392.

Homes for Heroes in Lee’s Summit

homes-for-heroesAt the Copeland Mortgage Team, we serve our activity duty veterans and other local heroes by helping out with their mortgage loans by providing extraordinary savings.

The Homes for Heroes Foundation in Lee’s Summit gives back to those who serve our nation and its communities each day. This foundation’s mission is to provide or coordinate financial assistance and housing resources to our Nation’s Heroes. Our local heroes of Lee’s Summit include Military Personnel, Police/Peace officers, Firefighters and First Responders who demonstrate a need for assistance.

Homes for Heroes Process

Once an individual qualifies and signs up, they are contacted by Homes for Heroes Affiliates within 24 hours. Local heroes in Lee’s Summit include, but are not limited to: teachers, healthcare workers, firefighters, public safety officers, military personnel, and others who provide quality services to the public each day.

Homes for Heroes Savings

The Affiliates of this foundation offers full service at a discounted rate. Homes for Heroes offers more savings than anyone else because of our strong business relationships. The following rebates and discounts are offered:

  • 25% of the gross commission paid to your Homes for Heroes real estate Affiliate’s company, whether you buy, sell or both

  • Discounted lending fees on purchase or refinances with a HFH preferred lender

  • Discount on Private Home Inspections with HFH preferred Home Inspection company

  • Discount on closing fee when using HFH preferred Title Company

 

The Copeland Mortgage Team is a proud Affiliate to the Homes for Heroes Foundation of Lee’s Summit. We encourage local heroes to Sign Up for Hero Savings today.

For more information about this great program or if you have any questions, please contact Darren Copeland, your local mortgage lender at 816-875-6392.