Five Questions You Should Ask Your Tulsa, OK Mortgage Banker.

1. How much down-payment do I need to buy a house? If you are a veteran or buying in a rural area you can get 100% financing and seller can pay closing costs. If you are Native American you may be eligible for a HUD 184 loan. This loan requires as low as a 1.25% down-payment, depending on the amount of the loan. FHA requires a 3.5% down-payment, Conventional a 5% down-payment, and Investment loans a 20% down-payment.
2. What are Points/Origination Fees? Point and Origination Fees are additional fees paid at closing to lower your interest rate. 1 point is $1000
3. How do I find out exactly what my closing costs, fees, and other things are when I am comparing mortgage companies and their rates? Ask for a Good Faith Estimate. Look at fee lines 800-900. Compare the rate, points/origination fee, and other items within that range.
4. What constitutes a rural developement loan? It is all based on the population or an area. Owasso and Glenpool are still rural and are eligible for a rural development loan. USDA Rural Development website can give you more information about an area you are interested in.
5. How do Mortgage Bankers get paid? My commission is based on the volume I produce. The more I produce the higher percentage I make.

If you have questions about a Tulsa, OK mortgage, contact Karen Heston at BOK Mortgage, 918-230-9432 or visit her website here.

For all your Tulsa, OK real estate needs, contact Darryl Baskin, McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.

What Exactly Is Oklahoma Title Insurance?

Title insurance protects your claim of ownership of your property. When you buy Oklahoma real estate, you count on the paperwork being properly reviewed. You should get a "title opinion" from an attorney. That does not, however, provide you any insurance that the attorney did not make an error or that someone later does not come back and claim an error was made (regardless who is right or wrong.) It is simply the opinion of the attorney you hired.

If you purchase title insurance and someone later questioned your ownership of the property, the title insurance company would be required to come defend your title.

A few things to note:

• Title insurance only covers the period of time before your purchase of the property. It does not cover from the time you purchase and beyond. If you are concerned about problems that might arise after you purchase the property, talk to your title company and ask about appropriate insurance.
  
• Sometimes "exceptions" can be listed in your title policy. These would be things that were known when the policy was written such as, your driveway or storage building being on the neighbor's property.
• Title problems are often called "clouds" which mean your ownership is not completely clear - that someone could raise questions about it. Even if your ownership would not be lost, it can be expensive to remove the "cloud" on your title.
• Title issues can arise from forgeries, improper paperwork filing at the courthouse, incorrectly completed forms, deaths and bankruptcies, lawsuits between other parties, and many other unknown circumstances.

For more information about title insurance in Tulsa, OK, contact Ann Rollins, at Closings of Tulsa, 918-493-2241 or www.closingsoftulsa.com.

Have Tulsa, OK area title problems? and have legal problems as a result of your title or lack of title insurance, contact Chuck Richardson of Richardson, Richardson, Boudreaux at 918-663-5070 or www.richardsonlawfirmpc.com.

For all your real estate needs in the Tulsa, OK area, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Tame that Angry Beast!

Buying and selling your Tulsa, OK home can be a very frustrating experience. At times, you might even find yourself so irritated that you feel like you have become an angry beast. Whether your real estate woes have precipitated the anger or simply everyday stresses, read on to help tame that angry beast.

• Write in a journal. When you find yourself getting angry over that seller or buyer that simply won't budge, consider writing in a journal. For some people, this is the perfect way to release the tension and anger without causing harm to your health, your relationships, or yourself.
• Find a stress reliever. Relieving stress can be done in many ways. Some very popular and productive ways include exercising, doing a project, or working around the house. You might find that taking a drive or simply deep breathing works well for you. Experiment, whatever you find that works for you, remember to do it often.

• Take an adult time out. Probably all of us have heard of time out when it comes to kids. but very few of us take a time out ourselves. When you begin to get angry over that real estate problem, take a time out. You may need to take a break from whatever is causing the anger and give yourself a few minutes before you continue with it.
• Change your thinking. Sometimes we make the situation worse because we assume something. If your real estate agent says something that offends you or does something that makes you mad, think the best of them. It is likely that they didn't intend it to come across that way. If you have the courage, ask them about it. It is probably just a misunderstanding.

Remember that anger and stress can bring on a multitude problems including relationship issues, high blood pressure, heart attacks and much more. Before allowing anger over a real estate problem get the best of you, ask yourself if it is worth it.

For all your Tulsa, OK. real estate needs, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhoward.com.

From Our Top 5 Team: Looking for a Summer Remodeling Project? These Tips Might Help

Looking for a Summer Remodeling Project? These Tips Might Help

Other than vacations, summer is the time of the year most popular for home improvement. The long days and warm, sunny weather make a great time to work on repairs and renovations without much of the hassles and delays that rain and other elements bring.

As a member of the Top 5 in Real Estate Network®, I, along with my team, have years of experience and understand how taking on a remodeling project is beneficial to you, both now and then later down the road should you choose to sell.

For these reasons and more, a good number of homeowners undertake home improvement projects, especially during the summer.

 

Following are tips and projects—both large and small—for homeowners looking to spruce their homes up this summer.

Patios and Decks
What better way to enjoy the warm days than by creating an outdoor living space for the family to enjoy.

 

Decks and patios are among the most popular summer remodeling ideas. There are various factors to take into consideration when deciding on whether a patio or deck is the most appropriate project to undertake. Such factors include soil condition and consistency, site terrain, use, capacity and privacy, as well as the cost and maintenance you are willing to put up with.

Home Maintenance
Throughout the seasons, your home has taken good care of you and your family and now is the best time to give back.

 

Go through your property to evaluate and create a checklist on areas that need mending or replacement. This list is a crucial preparation before calling a contractor or handyman for maintenance/repair services. Some common maintenance and repair include:

• Waterproofing the basement
• Re-caulking and replacing weather-striping
• Cleaning and sealing wooden decks
• Trimming bushes and trees
• Realigning downspouts and gutters
• Repairing the roof
• Cleaning the pool
• Mending the fence
• Sealing cracks along driveways, foundation, walkways, etc.
• Maintenance of HVAC systems

Energy-Efficient Renovation
When it comes to summer remodeling, there's no better way to invest your hard-earned dollars than by making your home energy efficient. An energy-efficient summer remodel is truly a worthwhile endeavor as it will result in years of savings on your energy bills. Some of the common items you can buy and integrate into your energy-efficient renovation include:

• Insulation systems and materials
• Roofs that resist heat gain
• Biomass-burning stoves
• Energy-efficient windows
• HVAC systems with the highest efficiency tier
• Solar panels
• Fuel cells
• Geothermal heat pumps
• Wind energy systems

Taking on one (or more!) of these projects is a great way to give back to your home this summer…and, in some cases, save you a bit of money, too. For more information on home renovation projects, please e-mail our team - and please feel free to forward these tips to any family and friends you think might benefit from them as well.

Sincerely,

Darryl Baskin
McGraw Realtors
Office: 918-258-2600
Mobile: 918-740-0077
Darryl@DarrylBaskin.com
http://www.DarrylBaskin.com

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