What’s the point of mortgage points?

If you’re financing a property purchase, you’ve probably come across the term points or discount points. Although there are other meanings, most often these terms refer to prepaid interest, with one point equal to 1% of your mortgage loan. Lenders offer borrowers the opportunity to purchase points on their mortgage, which means you’re paying up front to lower the interest rate of your loan. Here are some questions to ask when deciding whether you should buy points: How long will you live in the house? You usually benefit more from points the longer you stay in the property. That’s because the savings you realize on each monthly payment will accumulate and eventually offset—hopefully exceed—your points payment. Can I afford points? You need to provide a downpayment and cover the closing costs to secure a mortgage. Do you also want to pay for points? How much will the rate come down? Each point costs 1% of the loan amount, but the interest-rate reduction you receive varies from lender to lender. Don't worry. Experts like your Texas REALTOR® are available to help you make the decision right for you.

17-19 Swordfish E South Padre Island, TX 78597

3 Lots together right on the corner of E Swordfish and Gulf Blvd, great location! Buyer can replat into 3 separate lots which would allow for 3 separate dwellings. Centrally located with a beach access directly across the street. Close proximity to the entertainment district. Click HERE for more information

City of South Padre Island 5th Annual Blood Drive

City of South Padre Island 5th Annual Blood Drive Monday, October 31, 2016 8:30am- 3:00pm SPI Community Center Next to City Hall

You sure you want the internet to solve your real estate problems?

I was reading user comments on a real estate website the other day. The questions buyers and sellers were asking reminded me that real estate transactions can get complicated in countless ways. Here’s a random sample of issues buyers and sellers were having … A lien the seller didn’t know about is making it difficult to sell the home. A person buying a home is thinking of renting out her current home rather than selling it. The seller accepted the buyer’s offer, and now the buyer has found a home he likes better. The homebuyer wants to move in before closing and rent the home until the closing date. An inspection revealed costly repairs are needed, and the buyer wants to renegotiate the purchase price. A buyer has a contract to buy a home and learned the seller has another a contract with a second buyer. The buyer and seller disagree about what items should stay with the property after the sale. A buyer of a commercial building doesn’t understand the seller’s reply to his offer. The seller wants to know how to handle multiple offers. The seller didn’t show up to closing, and the buyer doesn’t know what to do. This list could keep going and going. I understand why people would “ask the internet” about their real estate problems, but I would be wary of the advice found there. You don’t really know what you’re getting. On the other hand, a Texas REALTOR® is a professional with the experience and knowledge to help you avoid many problems, deal with those that arise, and help you reach the best possible outcome on your real estate transaction.

28535 Roper, Bayview, TX 78566

This beautiful home along with just under 10 acres of land is situated in the quiet country community of Bayview. Solar panels, out door storage, fenced pasture, workshop, hot tub and an outdoor shower are just a few of the amenities. Located close to the wildlife corridor, you are sure to enjoy the wildlife activity from the spacious patio. Located a short 20 minute drive from the white sandy beaches of South Padre Island, this is country living at it's finest. Click HERE for more information