Buyer's Reports
Real Estate Buyers Guide, Real Estate Buyers Agent Texas, Tips On Home Buying

Mortgage term. Mortgages are generally available at 15-, 20-, or 30-year terms. The longer the term, the lower the monthly payment if the same amount is borrowed. However, you pay more interest overall if you borrow for a longer term.

Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate for as long as you hold the mortgage and is usually a good choice if interest rates are low. An adjustable-rate mortgage (ARM) is designed so that interest rates will rise as interest rates increase; however they usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. ARMs are a good choice when interest rates are high or when you expect your income to grow significantly in the coming years.

Balloon mortgages. Balloon mortgages offer very low interest rates for a short period of time—often three to seven years. Payments usually cover only the interest, so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.

Government-backed loans. Government-backed loans, sponsored by agencies such as the Federal Housing Administration or the U.S. Department of Veterans Affairs, offer special terms, including lower downpayments or reduced interest rates—to qualified buyers.

Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, use Fannie Mae’s online mortgage calculators.

Preston Hollow Real Estate Agent - Park Cities Luxury Estates

If you're in the Home & Real Estate market to buy or sell your home in the Preston Hollow, Park Cities, Highland Park areas, call me. You can rely on my 24 years real estate experience, legal background and local market knowledge. My strengths are service, negotiations, diplomacy and making the home buying and selling process fun and easy for you. I grew up in Dalton, Georgia around my family's jewelry business. I learned at a very early age how to place my clients on the pedestal they deserve. Getting you what you want is my ultimate aim.

Designations, Affiliations, Awards: Certified Residential Specialist; Accredited Buyer's Representative; Certified Luxury Home Marketing Specialist; Certified Home Marketing Specialist, Certified Negotiating Specialist; Founding Associate Keller Williams Elite; Keller Williams International Gold Medalist

BERNICE EDELMAN
Dallas Realtor
Keller Williams Elite Properties
8201 Preston Road, Ste: 265
Dallas, Texas 75225
214-420-3771 Office
214-384-7700 Cell
bedelman@kw.com