Get Your Alabama Real Estate License in 2 Weeks!

Real Estate School Announces 2 Week Pre-License Class

 

(Birmingham, AL)  The Real Estate Success Institute has just announced the start date of it's next 2 week Alabama Pre-License Class.  It will begin on Monday, February 18th at 9am and will run from Monday thru Friday from 9am to 4pm for two weeks concluding on Friday, February 29th, 2008.

 

For anyone wishing to enroll in the class, the school has a website at www.BirminghamRealEstateSchool.com .  Students can get directions to the school, download a school application, make payment for the class, and get questions answered. 

 

Past students from the class have raved about the format and how well prepared they were to take the state real estate exam.  Interviews with previous students indicate that nearly 90% of the students passed the exam on their first attempt.

 

"I am so glad I chose this school.  I passed the very first time I took the state exam and so did most of the students in my class." Dennis P., Cullman.

 

With the real estate market already coming off of it's recent bottom and markets around the country and in Birmingham heating up, there has never been a better time to make real estate a career.  You can call 205-833-6325 for information on the classes or visit the website.

 

www.BirminghamRealEstateSchool.com

Find a Good Real Estate Agent - wikiHow

Find a Good Real Estate Agent - wikiHow

How to Find a Good Real Estate Agent

from wikiHow - The How to Manual That You Can Edit

Steps to take when looking for a real estate agent. A highly-experienced agent is not necessarily the right agent for you.

Steps

1. Meet agents out in their working environment, not in their offices. Good agents spend very little time at their desks.
   
2. A good place to meet agents is at open houses. Don't worry that you are not interested in that particular property. The agent knows that open houses rarely produce a buyer for that home.
   
3. Another good method is to contact the agent with whom a friend or relative worked. If this agent produced positive results for a friend of yours, there's a good chance s/he will do the same for you.
   
4. Interview a couple agents. Whether you are looking for a buyer agent or seller agent
   
5. Look for signs that the agent is busy. A hard-working, go-getter of an agent is what you want. But if you feel slighted, like if your agent spends most of his time with you on his cellphone with another customer, find a different agent.Or if he / she passes you on to an "assistant" it means the agent you hired is not the one who is going to be working with you along the line.
   
6. It is important that your agent is knowledgeable. Ask questions about things you have learned through your new-found interest in real estate. If she doesn't know substantially more than you - after all, this is her livelihood! - go on to another prospective agent. Local knowledge is particularly critical.
   
7. A good agent is important to you when buying a home for the first time. She should be able to guide you through the mire of paperwork and lenders that you will have to wade through.
   
8. View the agent site and see how he/she is using content to market themselves.
   
9. Check her references that she should provide in your first interview.
   
10. Ask your agent where they live. An agent that lives and works locally will have their finger on the pulse of the market and be able to answer important questions about the community.
    
11. Ask how long s/he has been a realtor. It is not that newer agents aren't capable. It just is a fact you should know to factor in to make an informed decision. Many "experienced" agents are not always the best choice either.
    
12. Ask Who the agent is working for in the transaction, the buyer or the seller.
    

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Sources and Citations

• http://www.first-time-home-buying.net
  
• http://www.connieshomesonline.com
  

Article provided by wikiHow, a collaborative writing project to build the world's largest, highest quality how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Find a Good Real Estate Agent. All content on wikiHow can be shared under a Creative Commons license.

Get a Better Deal on a Home Loan - wikiHow

Get a Better Deal on a Home Loan - wikiHow

How to Get a Better Deal on a Home Loan

from wikiHow - The How to Manual That You Can Edit

It is often said that for most people, the purchase of their home will be their single greatest expenditure. In truth, however, the purchase of a mortgage--the points and interest paid over the life of the loan--often equals or exceeds the sale price of the house. Thus, as everyone knows, it's essential to get the best deal on your mortgage as possible. Doing so, however, is not an easy proposition. To get a truly great rate, you'll need not only to shop smartly for a mortgage, you also need to establish yourself as a good credit risk before you apply.

Steps

1. Wait. The easiest way to get a lower rate is to wait until the interest rates on loans across the board are at low levels. Interest rates fluctuate a great deal, sometimes even during the same day, but there are times when they are simply far lower than at other times. Keep in mind, however, that (all other things being equal) periods of low interest rates often see increased home prices.
   
2. Improve your credit. Make loan and other payments on time, especially over the months leading up to the loan application. Every delinquency will result in a lower credit score The better your score, the better your deal. Keep in mind, however, that it typically takes at least a couple years to significantly improve your credit.
   
3. Get the mortgage first if multiple financial obligations are going to pop up in the near future. Numerous credit inquiries, such as new applications for credit cards, can hurt a borrower's score, especially if they're filed in the months prior to the home loan review process. In addition, if you add new debt expenses shortly before applying for a mortgage, the loan underwriter may question whether you'll be able to make all your payments, so avoid making large purchases in the months before you apply.
   
4. Save as much money as possible for your down payment. A major determinant of your interest rate will be the loan-to-value ratio. These days you can sometimes get a mortgage for up to 125% of the value of the home, but if you can reduce the loan amount to 80% of the value, you'll get a better rate. The larger your down payment, the more equity you will have in the home from the start. With more equity, the loan is a lower risk for the lender, and you'll be rewarded with a lower interest rate. A lease option may also help you build equity if you're not in a position to make a large down payment.
   
5. Reduce upfront expenses. Points--1 point equals 1% of the loan amount--and other upfront fees can drive the cost of your loan through the roof. Always take these into account when shopping for a mortgage.
   
6. Think small. Don't shop for that 6-bedroom house right off the bat. Lenders consider "payment shock" when approving loans. If you go from a relatively low monthly housing payment to a huge one, you'll either end up covering too big a loan with too little money, or you won't qualify at all.
   
7. Shop around. Mortgage rates for the same person can differ widely from lender to lender, so explore your options. If you belong to a credit union or if you've been with a bank for a long time, you'll often find your best rates there, though it's still a good idea to check around. A mortgage broker, who sifts through many lenders, may be able to find you the best rate.
   
8. Get pre-qualified, or "pre-approved". The difference is a pre-qualification is based on information voluntarily submitted by you to a lender, who then provides an 'estimate' of the maximum mortgage amount you can afford. A pre-approval means the borrower, has had the lender perform credit checks, income verification, and various other underwriting tasks and has been approved for a specific mortgage amount. A pre-approval is a much stronger tool, obviously.
   
9. Lock in a low rate. Simply being approved for a loan amount doesn't mean you'll get the interest rate you've been quoted. You'll need to lock in the rate.
   

Tips

• Do the math. Don't just listen to what the broker or loan officer tells you. Get out your calculator and calculate the total cost of the home including the loan. If the lender doesn't provide this information, simply multiply the monthly payment amount by the number of payments, and add any points or other upfront fees. For adjustable mortgages, however, there is a bit more uncertainty about the total cost because after an initial fixed period the interest rate may go up or down. However, you should still be able to calculate the minimum and maximum cost according to the terms of the loan.
  
• Be honest. If your lender doesn't have a truthful application, your quoted rate won't mean a thing (and you could be prosecuted for fraud in some cases). Discuss your personal situation, ask questions and make sure the options presented by the lender are best for you.
  
• Prioritize your debt, and if you must miss a payment, miss it on a low-priority loan (i.e. a credit card) rather than on an existing mortgage. Credit scoring systems look at the performance of similar loans first when deciding what type of score to assign. The most weight will be given to the performance of another mortgage.
  
• Which type of mortgage offers the lowest rate. It depends on the lender and on market conditions, but generally a shorter term (10 or 15 year) fixed mortgage will offer the lowest rates. Very short term (i.e. 5 years) adjustable rate mortgages (ARMs) may also offer excellent rates, but the upfront fees on these may drive the total cost up quickly.
  

Warnings

• If you do have credit problems, beware of credit repair agencies and lenders that advertise a fix for people with bad credit. Often these end up costing you more money and don't do a significant 'clean up' of your credit. Be honest with a trusted loan officer or mortgage broker, and ask for things you can do to help your credit.
  
• This article is a general guide only and is not intended to replace professional financial or legal advice.
  

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Article provided by wikiHow, a collaborative writing project to build the world's largest, highest quality how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Get a Better Deal on a Home Loan. All content on wikiHow can be shared under a Creative Commons license.

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