Jim Potts

Synergy One Lending

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Understanding the Mechanics of a HELOC Loan

September 1, 2023 by Jim Potts

A Home Equity Line of Credit is a type of loan that allows homeowners to borrow against the equity they have built in their property. Equity is the difference between the home's current market value and the outstanding mortgage balance. HELOCs are typically offered by banks, credit unions, and other financial institutions and are often regarded as a "second mortgage."

Filed Under: Loan Tips Reno Tagged With: HELOC, Interest Rates, Mortgage

Buying Vs. Building a House

August 31, 2023 by Jim Potts

Buying a house is generally quicker and more convenient than building one. You can move in as soon as you close the deal, without having to wait for construction to be completed.

Filed Under: Loan Tips Reno Tagged With: Buy Vs Building, Mortgage, New Home

How to Save The Most Money When Buying a House

August 30, 2023 by Jim Potts

Buying a house is one of the most significant financial decisions in one's life, and it's essential to make smart choices to save money during the process. While purchasing a home can be expensive, there are several strategies you can implement to maximize your savings and make the most of your investment.

Filed Under: Loan Tips Reno Tagged With: Closing Costs, Mortgage, New Home

What To Know About Property Lines

August 29, 2023 by Jim Potts

While property lines are the borders that separate one property from another, they are also legal boundaries. Essentially, property lines determine what you do and do not own.

Filed Under: Loan Tips Reno Tagged With: Mortgage, New Home, Property Lines

Buying for Retirement: 3 Reasons Why You’ll Want to Buy Your Retirement Home Before You Retire

August 28, 2023 by Jim Potts

While it may seem like a big time commitment to find a new home while you're still busy with your work there are several significant financial benefits to purchasing your retirement home before you actually do retire. Here are our top reasons why.

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

3 Ways To Avoid Mortgage Insurance

August 23, 2023 by Jim Potts

When you are buying a home, you may run into a number of hurdles to complete the purchase. One of the items that you may be asked to purchase is called private mortgage insurance, often shortened to PMI. This is a unique insurance policy that your lender, such as the credit union or bank, may ask you to buy in order to protect themselves. In this insurance policy, the bank protects themselves against losing money if you end up defaulting on your loan.

Filed Under: Loan Tips Reno Tagged With: Insurance, Mortgage, PMI

What Do Appraisers Consider When Valuing a House?

August 21, 2023 by Jim Potts

The location of the property is one of the most critical factors in determining its value. Proximity to amenities such as schools, shopping centers, parks, public transportation, and the overall desirability of the neighborhood can significantly influence the value.

Filed Under: Loan Tips Reno Tagged With: Appraisal, Home Valuation, Mortgage

What’s Ahead For Mortgage Rates This Week – August 14, 2023

August 14, 2023 by Jim Potts

Month-to-month inflation rose at a pace of 0.20 percent in July and met analysts' expectations. There was no change in the pace of month-to-month inflation from June's reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022.

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

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Jim Potts

Jim Potts


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NMLS# 227144
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