Adrian, MI (PressExposure) August 13, 2009 -- Mortgage terms, financing, points, interest and equity are a few words that are commonly heard in the real estate and mortgage industry. New homebuyers can be overwhelmed by all there is to learn; many are too embarrassed to ask questions that they believe anyone would know the answer to.
Mark Goedert, a real estate professional in Adrian, recently spoke at a home buying workshop. He said, âThe fact is many homeowners do not understand mortgage terms and financing. They simply sign the line where they are told to so they can be homeowners. Many are very disappointed when they receive their statements each month; they cannot believe how little of their payment is going toward principal.â
Mark showed the group how the mortgage payment is broken down in principal and interest and how the interest is calculated each month. He also told the participants how they can pay points in exchange for a lower interest rate. âA point is equal to 1 percent of the loan amount; one point on a $100,000 mortgage would be $1,000. The decision to pay points is based on how long you intend to own the home and ho much you save by reducing the interest rate.â
Mark Goedert works with first-time home buyers; he likes to make sure they understand how their mortgage financing works and the various options that are available to them. Mark takes the time to explain the home buyer programs and the benefits each offers to buyers. Read Markâs blog http://first-timehomebuyerprogram.blogspot.com/ at to learn more tips for first time home buyers.
Mark Goedert of Goedert Real Estate works with new homebuyers to help them understand the process so they can make wise home buying and financing choices. Goedert Real Estate provides information and resources for new buyers and affordable listings. Visit [http://www.under100000realestate.com/] to learn more.
Contact: Mark Goedert 1324 N. Main Adrian, MI 49221 517-403-1603 firstname.lastname@example.org
This press release was submitted by Right Now Marketing Group, LLC