Jim Potts

Synergy One Lending

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Buying in a New Community: How to Meet and Make Friends with Your New Neighbors

June 8, 2023 by Jim Potts

One of the stresses of moving to a new area is giving up the familiarity that you have with your old neighbors and starting from scratch. Whether you've just moved to a different locale or you're planning to relocate in the near future, there are some easy ways that you can make a home of your new neighborhood right from the start.

Filed Under: Loan Tips Reno Tagged With: Buying a Home, Home Buyer Tips, Moving Tips

What You Need To Know About Your Home Appraisal And Your Mortgage

June 7, 2023 by Jim Potts

When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted.

Filed Under: Loan Tips Reno Tagged With: Appraisal, Mortgage, Value

Most Renters Are Paying Far More Than Their Landlord’s Mortgage

June 6, 2023 by Jim Potts

It is not uncommon for renters to pay more in rent than their landlord's mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than the cost of their mortgage.

Filed Under: Loan Tips Reno Tagged With: Mortgage, Mortgage Payment, Renting

S&P Case-Shiller Home Price Indices Show Mixed Readings in March

June 2, 2023 by Jim Potts

Homeowners took a "wait and see" position as mortgage rates rose and concerns over the economy persisted. Those who refinanced their mortgages to low rates during the pandemic weren't looking to buy new homes or refinance at current mortgage rates near seven percent. Prospective homebuyers faced affordability challenges and concerns over buying at the top of their local real estate markets.

Filed Under: Loan Tips Reno Tagged With: Case Shiller, Financial Reports March readings for the S&P Case-Shiller National Home Price Index showed that month-to-month home prices rose by 0.40 percent in March. The 20-City Home Price Index, which is considered a benchmark indicator by U.S. real estate professionals

Does My Current Debt Affect Getting A New Mortgage?

June 1, 2023 by Jim Potts

It's important to manage your debt carefully and maintain a good credit score if you're planning to apply for a new mortgage. By evaluating the following and staying on track, you can ensure that you're ready for the financial responsibilities of a mortgage and can make an informed decision about homeownership.

Filed Under: Loan Tips Reno Tagged With: Credit Score, Debt to Income, Mortgage

An Overview Of Mortgage Points

May 31, 2023 by Jim Potts

There are two types of mortgage points: discount points and origination points. Discount points are used to buy down the interest rate on the loan, while origination points are used to cover the lender's administrative costs.

Filed Under: Loan Tips Reno Tagged With: Mortgage, Mortgage Points, Mortgage Rates

What’s Ahead For Mortgage Rates This Week – May 30, 2023

May 30, 2023 by Jim Potts

Homeowners weren't in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates.

Filed Under: Loan Tips Reno Tagged With: Financial Report, Jobless Claims, Mortgage Rates

What is the Difference Between a Reverse Mortgage and a Home Equity Conversion Mortgage?

May 25, 2023 by Jim Potts

A reverse mortgage and a home. equity conversion mortgages (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two.

Filed Under: Loan Tips Reno Tagged With: Home Equity, Mortgage, Reverse Mortgage

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Jim Potts

Jim Potts


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Latest Articles

  • Buying in a New Community: How to Meet and Make Friends with Your New Neighbors
  • What You Need To Know About Your Home Appraisal And Your Mortgage
  • Most Renters Are Paying Far More Than Their Landlord’s Mortgage
  • S&P Case-Shiller Home Price Indices Show Mixed Readings in March

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