Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

What Your Realtor Really Wants To Know About You

by Luke Fields

Whether you are buying a house or you're trying to put yours on the market — or you just want to see what income potentials are out there in real estate — your Realtor is the person who is going to help make the most of your real estate venture.

What your real estate agent wants is a great Realtor/client relationship with you, and in order to achieve this, they need to know some things about you. Your Realtor really wants to know the following to help everyone get the most out of the real estate journey.

Why you want to buy/sell

It may seem more important to know what you're after in future real estate, but your Realtor wants to know what is motivating you to get into real estate in the first place. If they know where you stand on the market, they're better able to help you meet your needs. For example, are you selling your home because you want to rent and save money by getting out of a mortgage? Great: your Realtor can hook you up with great rental properties in your area.

Do you want to buy a home because you've outgrown renting? Also great: your Realtor will take into account the square footage you need and help you get into that ideal new home. Do you want to simply get into income-generating real estate? Your realtor knows where some great fixer-uppers are. Knowing why you want to buy or sell real estate will help you get the most out of your experience.

What your expectations are

What do you expect to get out of your real estate adventure? Your Realtor wants to know so they know how realistic you are about the experience. For example, if you want to sell your home and get into another property right away, they know they have to work hard to help you reach this goal. If you want to buy a home using a small budget, they know they need to stick to starter family homes and other low-budget properties.

Be honest with your Realtor about what you want in a home or what you want in selling your home, and be ready to accept whatever advice they have for you. If you work with your Realtor to have a positive experience, you can sell or buy a home with as much benefit as possible. Your Realtor wants to get you the outcome you desire so let them know more about you so they can do so.

When you are ready to start with the buying or selling process, contact a local real estate agent for more information.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.