22 May 2025
By RESCO Realty

Should You Get a 15-Year Mortgage?

Mortgage Tips, ,
There are a lot of financing options available to help you purchase real estate, especially if you meet credit guidelines. Most lenders prefer to offer 30-year mortgage loans. With a longer loan term, they collect more money in interest over the life of the loan, but if you have strong credit, a 15-year mortgage may be a better option, and one worth considering. Here's a breakdown of the two: What About a 30-Year Mortgage?Thirty-year mortgages are the most common option for homebuyers. Monthly payments are typically more affordable, which is why lenders frequently recommend them. You may even qualify for…
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21 May 2025
By RESCO Realty

What Do Points Have to Do With Real Estate?

Real Estate Tips, ,
You may have heard of points when looking for real estate. Maybe your loan officer told you that you can trade points for a better interest rate. That sounds good, but just what are points? We'll give you a better idea of just what points are and how they work. What Are Points?Points, more specifically discount points, are a percentage of the total loan amount for the house that is pre-paid to the lender. Each point is worth one percent. Your lender may offer a lower interest rate for your mortgage loan if you buy discount points.  What do Discount…
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08 Apr 2025
By RESCO Realty

Why the Cheapest Home on the Block Might Not Be the Best Deal

Home Buyer Tips, ,
Finding a home at a bargain price can be exciting, especially in a competitive market. However, the lowest-priced home in a neighborhood is not always the best deal in the long run. While it may seem like a smart financial move upfront, there are several factors that could make it a less-than-ideal investment. Here is why buying the cheapest home on the block might not always work in your favor. Hidden Repair and Renovation CostsOne of the main reasons a home is priced significantly lower than others in the area is due to its condition. Older systems, outdated interiors, and…
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