All Forum Posts by: Cassandra J.

Greetings BP!

I'm starting to learn of more ways to structure land contracts and I'm hoping you can enlighten me on one angle:

I was recently made aware of a contract structure in which the buyer can eventually get bank loans or lines of credit against the property. Is there a term for this type of contract? What are the pros and cons for buyers and sellers?  

Thanks for the clarity @Chris Mason.

Thank you @Marco G.!

Thanks @Michael Cohen!  I thought that the seller dictates which title company is used. I didn't realize I could shop around.

What would you consider to be characteristics of good service and performance?  I immediately think of being prompt in response and transparent with costs/process.  I'm not sure of other important things to consider though. Can you enlighten me?

Thank you @Melvin List. That's good to know. Fortunately I've been talking to more brokers than banks.

Soon I'll be obtaining my first mortgage. I'm going the FHA route.

I've done A LOT of shopping around. As I work to narrow in on my lender of choice, I've been surprised by how much the loan detail varies between them. Namely, origination charges, services you cannot shop for, services you can shop for, and lender credits.

I was told by one lender that the only things I should be comparing are interest rate, origination charges (to identify junk fees), and lender credits.

I'm interested in hearing how others have approached comparisons in the past. Are there any other elements I should pay particular attention to at this point in the process?

Rates around 4-5% depending on the condition of your credit sound about right based on experience over the past six weeks.  

This is my first mortgage ever. I'm going the FHA route.
I've done A LOT of shopping around.  As I work to narrow in on my lender of choice, I've been surprised by how much the loan detail varies between them. Namely, origination charges, services you cannot shop for, services you can shop for, and lender credits. 

I was told by one that the only things I should be comparing are interest rate, origination charges (to identify junk fees), and lender credits.

I'm interested in hearing how everyone has approached comparisons in the past.  Are there any other elements I should pay particular attention to at this point in the process?

Thanks in advance for sharing your perspectives!

Hi @Ron Brady Thank you for reaching out!  I've actually just moved into the area. Let's connect offline.  I'll PM you shortly. 

Hi@William SaintAmour I'll be sure to PM you. Thanks!

@William SaintAmour I just came across this article, outlining how Whirlpool is looking to continue to heavily invest in the region: http://wsbt.com/news/business/whirlpool-looking-to-expand-in-st-joseph-county

Where do you currently invest? 

I see you work in strategic planning. Are there other communities in Michigan that you would say have a particularly bright future ahead of them?

@Ante Vujic That sounds great!  I look forward to connecting.