3% vs. 5% vs. 7% – Navigating the Real Estate Math in Today's Market

You may have heard that changing market conditions have created a seller's market that is forcing buyers to spend a lot of money. People in many areas are experiencing housing shortages that make the seller's market strong. When you don't have enough supply to meet demand, you can expect to pay higher prices.

Changing market conditions can make it challenging to purchase real estate right now. They don't make it impossible, though. As the Fed increased interest rates again, you need to work closely with a real estate agent and mortgage broker that can get you a fair deal. You will not believe how much money you save when you lower your interest rate by a small amount.

Of course, it helps to have a real estate professional searching for ways…

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Need a 1031 Exchange Realtor? | Let's Discuss 1031s

1031 Exchange Realtor

1031 Exchange Buyers/Sellers – We Have Your Back!

We often come across clients who are playing with the idea of a 1031 exchange to save them from getting taxed when selling an investment property and looking to purchase another. It is important to have all the facts when deciding whether or not to use the power of the 1031 exchange.

A 1031 exchange is the swap of properties that are held for business or investment purposes, and if you meet the property criteria you will either have no tax or limited tax due on the exchange.

As Realtors we have a lot of experience with 1031 exchange clients and understand that time is not a luxury you have! (The government literally gives you a deadline)

The 45-Day Rule

Once the…

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How a Real Estate Agent Can Help Before, During & After Your Home Sale

The vast majority of people hire a real estate agent to help them sell their homes. In fact, 92% of homes sold in the U.S. in 2021 were sold using an agent or a broker. Of course, most people know how invaluable and helpful a real estate agent is during the selling process. But most people don't realize that real estate agents are extremely helpful to you before, during, and after the sale goes through.

Want to learn how to maximize the benefits of working with an agent? Check out these often-forgotten ways we can help throughout the entire home-selling process — from point A to point Z.

Before the Sale of a Home

Before selling your home, the real estate agent of your choosing can help you determine a listing price. Based…

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Are You Pre-Qualified For A Home Loan?

 When it comes to getting a mortgage, who you work with matters as every lender charges different fees and has different loan programs to offer. We have made it easy with this shortlist of questions to ask a lender and a few reputable lenders our clients have loved in the past. 

What Questions to Ask:

1. Which type of mortgage is best for me?
2. How much of a down payment will I need?
3. What is my interest rate?
4. What are your fees as a lender?
5. Will I have to pay mortgage insurance?
6. What will my monthly payment be?
7. What are my estimated closing costs?
8. How long will it take to get a loan?

Preferred Local Lenders:

Manhattan Bank
Bob Fenno
406.284.3255
Email: bfenno@manhattanbank.com
https://www.manhattanbank.bank/

Cornerstone Home …

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What is Forbearance?

We've heard about it on the news lately, but what is it? What are the stipulations, will you go into default when you apply for it? How does it work, do you have to pay back the money after? Get the answers to these questions in our video!
Join Broker, Tamara Williams, and Loan Officer, Shannon Foley of Cornerstone Home Lending, as they dive into these questions and more.

For other COVID-19 updates check out these videos:
Mortgage changes with COVID-19 
COVID-19 | The Real Estate Market
Bozeman's Real Estate Market Changes Amidst COVID-19

Find us on Social Media

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What Do You Need To Buy A House?

Looking to purchase a home but don’t know where to start?
This article will review 5 things you'll need in advance to complete your home purchase!

1: Mortgage Loan Pre-Approval

The first step in the home buying process is to acquire the funds to purchase the home. For the majority, that means qualifying for and obtaining a mortgage loan. A mortgage is a loan specifically used to purchase a home.

How do you get pre-approved? You can look online for lenders or give us a call and we’d be happy to give you a personal recommendation. The key is finding a mortgage lender who is there to help make the process as easy for you as possible. Once you’ve found a lender you are comfortable with, they will assist you in determining how much money you can borrow…

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Home Buyer Timeline

Thinking of buying a home but don't know where to start? Not sure of the process involved with buying a home, or just want a refresher? Then this article is for you!

RESEARCH

In order to save you time it is important to figure out how much home you can afford, what you are looking for in a home, and to determine an ideal timeline for purchasing.

LOANS

Now that you have your home purchasing goals started, it's time to get pre-approved! By getting pre-approved before you look at homes, you are saving yourself time and potential heartache. When you are pre-approved, you know exactly how much the banks are willing to loan you, giving you a price point for searching properties. By being pre-approved before you look at homes, you are also coming…

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Housing Market Update Amidst COVID-19 with Cornerstone Lending

Top Broker, Tamara Williams, teamed up with financial guru, Shannon Foley, from Cornerstone Home Lending to discuss the current housing and financial markets amidst COVID-19 / Coronavirus.

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Are you Pre-Qualified?

Before you start shopping for your new home, it is important to know how much home you can afford. 

When it comes to getting a mortgage, who you work with matters as every lender charges different fees and has different loan programs to offer. 

We have made it easy with this shortlist of questions to ask a lender and a few reputable lenders our clients have loved in the past. 

Questions to Ask a Lender:

1. Which type of mortgage is best for me?
2. How much of a down payment will I need?
3. What is my interest rate?
4. What are your fees as a lender?
5. Will I have to pay mortgage insurance?
6. What will my monthly payment be?
7. What are my estimated closing costs?
8. How long will it take to get a loan?

Preferred Local Lenders:

Prime…

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What you NEED to know as a First Time Homebuyer

Are you looking to buy a home in Bozeman, Montana? 

This video covers some hot topics even if you are not a first time homebuyer. Tamara Williams and Graver Johnson with Cornerstone Home Lending are covering home buying and buying in a hot market. Before you start searching for homes on the internet, tune into this video! 

Topics discussed in the video above:

• Pre-qualification and pre-approval
• What is the 2-2-2 rule? 
• Appraiser timeline - how quick can you close on a property? 
• What is entailed when making an offer? 
• Home Inspection and how long it takes to schedule an inspection 
• What is involved with closing a home? 
• First time homebuyer loan programs 
• What is an express closing? 
• Is Zillow reliable? Do they…

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