Jim Potts

Synergy One Lending

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What is Cash to Close?

May 10, 2023 by Jim Potts

The Cash to Close amount is calculated by subtracting any applicable credits, such as earnest money or seller contributions, from the total amount of funds needed to complete the transaction. The resulting figure represents the final amount of cash that the buyer needs to bring to the closing.

Filed Under: Loan Tips Reno Tagged With: Cash to Close, Closing Costs, Mortgage

How Do You Actually Write The Check To Buy A House?

January 18, 2023 by Jim Potts

After you have found the right house to meet your needs, you need to make the down payment to complete the transaction. Can you show up at the closing table with a suitcase full of cash? Of course, that would be a bit suspect, so that is not actually how it happens. What do you need to do to actually hand over the funds to buy the house?

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

How Do You Actually Write The Check To Buy A House?

January 18, 2023 by Jim Potts

After you have found the right house to meet your needs, you need to make the down payment to complete the transaction. Can you show up at the closing table with a suitcase full of cash? Of course, that would be a bit suspect, so that is not actually how it happens. What do you need to do to actually hand over the funds to buy the house?

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

Closing Costs And A Cash Sale: Who Pays?

November 8, 2022 by Jim Potts

There are some people who are able to pay cash for a home. Typically, these are individuals who are selling an existing property that has gone up in value. Now, all of a sudden, they have a lot of extra money they can spend on a house. If you can pay cash for a home, you have a lot of extra negotiating power. When it is time to complete the sale, who pays?

Filed Under: Loan Tips Reno Tagged With: Cash Sale, Closing Costs, Mortgage

The Type of Home You Want to Buy Determines Your Closing Cost and Here’s Why

August 9, 2022 by Jim Potts

Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment but the closing costs as well. The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased. With a closer look at why this is, home buyers can make a more educated decision when selecting a home to purchase.

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

The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs

June 30, 2022 by Jim Potts

It's amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer.

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

You Are A Serious Buyer: How To Show It

June 29, 2022 by Jim Potts

Today, the housing market is as hot as it has ever been. There are many people who are missing out on their dream homes because they are having a hard time competing with countless other people who are in the same position as them. If you want to put yourself in the best position possible to win a bidding war, you might be thinking about paying cash for your home; however, not everyone is in the same financial position. There are a few other ways for you to show a seller's agent that you are serious about your offer.

Filed Under: Loan Tips Reno, Mortgage Tagged With: Closing Costs, Mortgage Tips, Pre-Approval

The Top Things To Know When Refinancing Your Home

June 28, 2022 by Jim Potts

If you are thinking about refinancing your home in the near future, you probably know that this is a great way to shorten the term of your mortgage while also saving money. At the same time, refinancing your home does not come without risks. Take a look at some of the top things you should do and what to avoid before you go through the refinancing process.

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

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Jim Potts

Jim Potts


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