Category Archives: Home Buyers

5 MORTGAGE-RELATED TERMS EXPLAINED

You have a lot to consider when shopping for a mortgage, and you don’t want unfamiliar lingo bogging you down. Before you begin the process of buying a new home, get comfortable with these five key mortgage terms.

  1. Fixed-rate mortgage: With a fixed-rate mortgage, your interest rate stays the same for the entire loan, which means your monthly payments do too. That predictability can help with budget planning, but fixed-rate loans sometimes come with a higher interest rate than other loans.
  2. Adjustable-rate mortgage (ARM): Your payments on an ARM stay the same for a set period but then change annually according to federal interest rates. While unpredictable on the back end, the initial rate is often lower than a fixed-rate loan.
  3. Closing costs: At your closing, you’ll be required to pay for various services associated with your purchase, like paperwork processing and credit reports. To avoid any surprises, carefully review the loan estimate form you receive from your lender. This document, which is sent to most borrowers within three business days of receiving an application, outlines your estimated closing costs.
  4. Escrow: When making an offer on a house, a homebuyer submits earnest money that goes into escrow, an account held by a neutral third party. Those funds are then disbursed once the deal is finalized. You may also pay into escrow if your lender requires you to pay a portion of your real estate taxes each month. That money is then used to cover the bill when it’s due.
  5. Private mortgage insurance (PMI): If your down payment is less than 20 percent of the full cost, your lender may require private mortgage insurance. You typically pay PMI along with your mortgage, though it drops off once your loan balance reaches a certain marker (usually 80 percent of the original loan).

Learning these and other relevant terms can help expedite the process of getting a mortgage, leaving you to focus on finding the perfect home.

Open House Sunday!!

Open House this Sunday 6005 Bridgewood Killeen, TX  76549 2/26/17 from 11am to 2pm & Wednesday 3/1/17 from 3pm to 6pm!!

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This 3168 square feet home features 4 bedrooms, 2.5 baths, 1 study, a formal dining area and a loft/game room! It’s very spacious and well equipped for a large family. As you walk up to the home, you’ll see a nice covered front porch. When you walk into the home, you’ll notice the custom tiled flooring in the hallway, the study will be on the left and the formal dining on the right. As you walk to the living room, you’ll notice the beautiful engineered hard wood floors in the living room and the kitchen. The kitchen and living are open, but separated by a large island. The kitchen has a lot of counter space and cabinets galore. The kitchen also features a work desk. If you’re looking for a home with a lot closet space, this is it! Upstairs you’ll find all 4 bedrooms, 2 bathrooms and a game room/loft. The back patio is extended and partially covered. Beautiful, conveniently located close to Metroplex Hospital and clinics, Fort Hood, Walmart and many other amenities. Definitely put this one on your list to view today. you’ll love it!

What is the CFPB and How will this effect me?

Hello my future home owners!

I don’t know if you have heard but there is a new sheriff in town when it comes to your finances and that sheriff is the CFPB (Consumer Financial Protection Bureau).

What are their jobs? Well let me tell you.

Educate: An informed consumer is the first line of defense against abusive practices.Enforce: Supervise banks, credit unions, and other financial companies, and we enforce federal consumer financial laws.

Study: Gather and analyze available information to better understand consumers, financial services providers, and consumer financial markets.

Now you may be asking, “Well how will this effect my home purchase?” The simple answer is that after August 1, 2015 there will be some major changes to the way your mortgage loan is handled. This is all for your protection but the new process may lead to longer closing periods. The normal closing periods are about 30-45 days. After August 1, 2015 you may have to wait 60+ days.If you want to know more feel free to visit the CFPB website at: www.consumerfinance.gov

Purser Homes: A Realtors Thoughts…

Purser Homes is a Builder Local to the Killeen/ Fort Hood area. This helps them to have a keen insight to what the local market is looking for. Purser offers High quality Homes. Their standard package usually includes the little extras like Crown molding, Granite counter tops, Pop-up ceilings,  and a Fireplace. All things that make a Home seem well polished and leave a nice finished look. Now, if you want the extras then be prepared to be Blown Away!!

If you haven’t guessed by now I rather like Purser Homes. I have never walked into one that did not impress me. The quality that Purser Homes puts out leaves me confident that any Buyer I bring will get more than what they paid for. Purser Homes tend to retain their value well and resell at a higher cost than other Homes. That being said these homes are still Very Affordable.

A Spec Home from Purser in the Fort Hood market can run from as low as the 160s to the mid 200s and will be worth every penny! I would Highly recommend Purser Homes to anyone looking for a New Build in the Killeen/ Fort Hood area. But hey, thats just my Opinion why dont you see for yourself….

Below is a list of Subdivisions where Purser Homes is currently Building:

White Rock Estates -Killeen, TX

Bunny Trail -Killeen, TX

Purser Crossing -Killeen, TX

Looking for a Realtor in the Fort Hood area? Give me a call!! Modtrice Ford- Realtor 254-462-7172

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Tanglewood Estates Harker Heights

Tanglewood Estates and Tanglewood North in Harker Heights are two well Established neighborhoods in the area. Homes currently for sale in the area can sell for anywhere between $150,000.00 up to $450,000.00 depending on how high up on the hill it is located. Of course other factors include square footage, age (which can range from mid 70’s to early 200’s), and quality of the Home. The area is very desirable all in all. Most of the homes here are owner occupied which helps retain property value. Homeowners tend to take great care to make sure their yards stay manicured and their homes stay in good repair. It is rare to see a distressed home in this area. Not impossible but rare. Overall this is a great place to live but don’t take my word for it. Take some time and look for yourself…

Current Homes for sale in this area include…

MLS # 214914
MLS STATUS: ACTIVE
LISTING PROVIDED BY LETICIA FORD OF ERA COLONIAL REAL ESTATE
MLS # 214575
MLS STATUS: ACTIVE
LISTING PROVIDED BY KENDRA BARGER OF STARPOINTE REALTY CENTRAL TEXAS LLC
MLS # 115304
MLS STATUS: ACTIVE
LISTING PROVIDED BY CHRISTINE FLETCHER OF VISTA REAL ESTATE
MLS # 213421
MLS STATUS: ACTIVE
LISTING PROVIDED BY LAUREN REIDER-HALLMARK
Need a Realtor in the Harker Heights Area? Give me a call!!
Modtrice Ford- Your friend in Real Estate!
Exit Homevets Realty
254-462-7172
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926 Pinewood Dr Harker Heights, TX 76548

Country living in the middle of Harker Heights! This 4 Bedroom 2 Bath home is simply adorable! As you approach the property the U-Shaped Driveway lined with shade trees catches your eyes. The front porch is roomy and has a ramp for easy accessibility. Coming into the home you will be surprised by how spacious it is! With 2 living areas a formal dining and double sided fireplace this space is perfect for family gatherings!! The Kitchen is Open to the second living area and is very spacious with room for a breakfast area. The Master Bedroom has an on-suite fit for a Queen with large garden tub, separate shower, linen closet and plenty of space for a seating area. This home sits on over half an acre so to say it has a large back yard would be an understatement! In the back you will find shade trees, extra storage and a chicken coop!! You have to see this home to believe it! Make an appointment today!

926 Pinewood Dr. Harker Heights TX 76548 (30).JPG

603 Nola Ruth BLVD Harker Heights TX 76548

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More Pictures!!

Beautiful Home in the Distinguished Neighborhood of Preswick Hills!! This 3 Bedroom 2 Bath Home has been Fully and Lovingly Remodeled and is ready for its New Family. Driving up to the Home you will immediately notice the beautiful Shade Trees and Landscaped yard. As you enter the natural light against the warm toned walls give you a feeling of comfort. Moving forward brings you into the Large Living Room where you notice the Fireplace with a Decorative Mantle stretching from floor to ceiling. The kitchen has been fully updated with Quartz counter tops, Recessed lighting, and Decorative tile back-splash. The Master Bedroom feels light and airy with Fresh paint, Tile floors, and French doors which lead to your own Private Covered Patio and Back Yard. Speaking of Back yard there are TWO!! One off of the Living room and one off of the Master. Both with their own Patios and Shade Trees. This Home will NOT Last long!! Give me a call today for a showing!!