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Blog Category - Tips and Tricks

conDO or conDON’T

Categories: Blog, News, Tips and Tricks | Posted: February 16, 2018

There is a time in life when people begin to question if they should stay in their homes or consider moving to a condominium. We hear this debate constantly as we tour these folks through condos during Open Houses. They have so many concerns and questions about moving into a condo and there is emotion involved in this decision. For some it means admitting that they are growing older and for some it means the loss of space for their possessions. It is not an easy decision to make and takes time to make the lifestyle change.

I am familiar with many of these emotions as my husband and I have made the move to condo living. We sold our home of 42 years and moved into a small condo. I admit it has been hard getting rid of our some of our possessions and we have shared or donated most of the unused items. (I admit to renting a storage shed for the overflow). We have grown more creative about new ways to entertain large groups of friends and family.

But there comes a time in life when experiences mean more than possessions. Owning a condo allows more time for trips to visit grandchildren, winter months spent in the south, that dream trip to Europe, fun camping up north or becoming a Road Scholar. You can leave home without the worries of snow removal, lawn mowing and exterior maintenance.

Possessions are things but experiences are what make memories. Is it time to make that choice? It is liberating!!

The bottom line for us is that we are thrilled with the decision and enjoy the opportunity to visit our grand kids in MD without worrying about the house. It was the right time and right decision for us.

Written by Mary Liebetrau

 

What does Pre-Approved* mean???

Categories: Blog, Tips and Tricks | Posted: June 21, 2017

Lots of people call me either excited to tell me that they have been ‘pre-approved’, or asking if they need to be.  To be direct, we prefer that you come to us first, BEFORE going to a bank.  Here’s a little insight to why we think this is better for you.

  1.  We know many, many banks. Therefore, by considering your situation we can help set you up with the bank that is right for you. If you go to a bank and get pre-approved; it’s from only that one bank and therefor may not reflect the best financing. Also, most loan officers may be very good at mortgage financing, but not so much with construction loans. Pre-approval for a mortgage does not necessarily speak to the construction loan.
  2. 10% down payment for the construction loan doesn’t have to be the case.   We get so frustrated with that misconception, because it may eliminate new construction as an option in many people’s minds. Just because some banks require this, doesn’t mean it’s the only option.  We have several options for 0%, 3% or 5% down on construction loans, just as you can get on the mortgage for your 30-year loan, so come talk!
  3. Let’s make sure new build is what you are looking for!  We are professionals.  Bounce off your plans, needs, and goals with us; it’s what we are here for.  Maybe there is an option you never thought of, a location you hadn’t considered, an existing home that would be a perfect fit.  At Hillcrest, we want to get you into the right home, not just any home; so we guarantee you it’s worth your time to give us a call.

 

So, back to the question.  The short and concise definition of pre-approved* is: ­­­­­­­A letter from a bank approving you for financing, which may be fine if you are buying existing real estate.  The asterisk next to the term means: “Call Hillcrest before the bank”.