Posts Tagged ‘Security’

Sandpoint Idaho Real Estate

October 31st, 2022

When I was little and I thought of the state of Idaho,Guest Posting I thought of potatoes, and that was about all. Thinking back, I was heavily influenced by the new Pringles potato chip commercials that had a girl sitting on a tractor out in the middle of an Idaho potato field boasting that Pringles were only made by the best Idaho potatoes! But after I grew up and married someone from Sandpoint, Idaho, I realized that there was a huge difference between north and south Idaho. As a matter of fact, if you ask someone from the northern part of the State where they are from, the will often say North Idaho as if it were a separate state.

The central and northern parts of the state of Idaho are known more for large wilderness areas, mountains and lakes: for shear breath taking beauty. Idaho has more designated wilderness than any of the other lower 48 States, and if you flattened out all of the mountains in Idaho, the state would be larger than Texas!

Well, we lived in Sandpoint for many years, but moved away about 10 years ago. We still qualify as living in North Idaho, but about 2 hours south of Sandpoint. Recently we have been toying with the idea of moving back, so we started looking around at Sandpoint Idaho real estate, and were pleased with what we found.

Idaho Home Mortgage Loans: 3 Myths about Mortgage Loans

April 21st, 2022

With a homeownership rate of nearly 73% and growing, Idaho has a steady economy which allows more people to afford homes. Some people are nervous to purchase a home. The loan process can be scary. Furthermore, certain home loan myths keep many from applying for a mortgage. However, homeownership has become increasingly easy over the last decade. Because of the creation of new home loan programs, many people are able to afford homes with little out-of-pocket cash. Consider three common myths regarding home loans.

Homeownership Requires a Large Down Payment

Years ago, buying a new home required a down payment of at least 20%. However, due to rising costs of living, many personal incomes are unable to keep up, which prevents potential buyers from building a large cash reserve. To assist with this problem, mortgage companies have begun offering home loans that require little or no money down. Hence, buyers with no cash savings can purchase a home with 100% financing. In turn, they are required to pay PMI (private mortgage insurance). Additionally, if funds are not available to pay closing costs, buyers may finance the settlement fees into the mortgage loan.

Fixed Rate Mortgages are Safer

There are definitely advantages to choosing a fixed rate mortgage loan. These involve predictable monthly payments, and the mortgage never increases. On the other hand, a fixed rate may not always be the best option. In fact, 31% of all mortgages in Idaho during 2005 were not fixed rate mortgages. Buyers looking for the lowest rate possible, and who plan on moving within three to five years, may benefit from an adjustable rate mortgage. These loans offer very low payments in the beginning. On the contrary, if the buyer plans to remain in the home for several years, ARM’s are risky.

Mortgage Brokers are for Bad Credit Applicants

A common misconception is that brokers are available to service borrowers with poor credit. While a mortgage broker can find great rates and loans for persons with a low credit score, they can also help borrowers with a good rating. Brokers have access to many different home loans and mortgage lenders. Hence, they can provide the borrower with multiple options from multiple lenders. In some instances, using a broker helps a good credit applicant obtain the best rate.