Yes you will, that’s because of the mortgage insurance involved! Private mortgage insurance, commonly shortened to PMI, is a common cost for homeowners who made a down payment smaller than 30 percent of the homes purchase price. What is PMI? Private mortgage insurance (PMI) is a type of insurance that conventional mortgage lenders require when […]
Paying off your mortgage early can be costly. Learn more about early payment on a mortgage. What is an early payment charge? An early repayment charge is a fee you might have to pay your lender if you want to end your mortgage deal before the ‘official’ deal term ends. For instance, you have a […]
Yes, however the property cannot be a refurbished building so that it can appraise for the price (valuation). Buying a home is becoming increasingly common these days. It has been standard practice for some time in the real estate world for sellers to skip the home closing by pre-signing paperwork and having sale proceeds wired […]
Ever since the dawn of the COVID-19 pandemic, the U.S. real estate market has been on a tear. In the twelve months between August 2020 and August 2021, American home prices rose by a national average of 19.8%—the highest annual increase ever recorded. But this national uptick in housing prices has hardly affected every place […]
As a smart investor you will want to buy a home as soon as you come across the right one. But it’s not always that simple. There are many financial issues that will determine whether you’ll be able to purchase the house, as well as the terms of your mortgage. Understanding the requirements to buy […]
The vast majority of real estate agents are commission agents. That means they get most (or all) of their income when they sell (or help buy) a home. Generally speaking, when a person sells a home with the help of a real estate agent, the seller pays a commission of 3%-5% on the sale price […]
To become a U.S. citizen by investment, you may apply online or use the paper application. The steps are as follows: File the N-400, Application for Naturalization: Once you are certain that you have met the above eligibility criteria, the next thing is to file an N-400 with the USCIS. Make sure that you fill […]
As much as we in the real estate industry like to believe that each real estate transaction is everyone’s top priority at all times throughout an entire transaction, the reality is that life does not stop just because you have signed a contract and will soon be closing on a home. What this means at […]
Does property investment makes sense to you? Smart investors have made property the cornerstone of their wealth growth strategy for years. However, timing is important, and you are naturally hesitant to buy in US real estate right now. At this point in the cycle, foreign markets are substantially less risky. The US real estate market, […]
The United States places a premium on entrepreneurial energy and ambition, and we at Luvanex Realty are well-versed in global interest in the United States. We understand how tough it was to obtain finance for real estate investment in the United State, most especially as a foreign investor. Foreign real estate investment in the United […]
One of the most difficult aspects of buying real estate in another country is raising the necessary funds to complete the transaction. Finance is difficult to organize in many parts of the world. Foreign purchasers may not be able to obtain finance in some areas. That isn’t to argue that raising funds in a foreign […]
In an earlier post on our site, we discussed certain city destinations that are ideal possibilities for investing in American real estate and earning rental income. We talked about various tourist sites that have developed their reputation and socioeconomic well-being on the backs of tourism. This article focuses on a different, but equally beneficial, strategy […]