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When you take out a conventional mortgage loan (not insured by the U.S. government), with a down payment of less than 20%, your lender will require that you pay monthly private mortgage insurance (PMI) which protects the lender in case you default. PMI costs can vary between 0.58% and 1.86% of the mortgage amount. According […]

The role of Smith Mountain Lake real estate agents has evolved dramatically over the years, adapting to the changing landscape of the housing market and the needs of buyers and sellers. Today, the benefits and tasks of a real estate agent are multifaceted, yet the more things change, the more they seem to stay the […]

Condominiums and co-ops are great choices for first-time homebuyers, singles, couples and roommates, and down-sizing families, but they are very different types of property ownership. Condominiums are usually located in the most in-demand areas, near plentiful jobs and entertainment districts. You’ll own your unit and share amenities with other owners such as garage parking, fitness […]

Your return on investment (ROI) is how much money you make or lose on a property investment. It should be enough to cover expenses and have positive cash flow. ROI can vary greatly, depending on the formulas you use. The 2% rule. This rule states that the monthly rent for a rental property should be […]

When you choose to remodel your home, it’s crucial that you hire the right contractor for the job. You can get referrals from friends, family, or your Berkshire Hathaway HomeServices network professional. But there are other ways to get information so you can make the right choice. It’s a good idea to interview at least […]

One truism about the housing market is that it changes constantly to favor sellers or homebuyers. Seldom does a balanced market exist where buyers and sellers are more evenly matched except for summertime, when schools are out. That’s why it’s the busiest of homebuying seasons. To be a better prepared buyer, you should get prequalified […]

Binge-watching streaming channels is so popular that homeowners are letting gigantic black holes take over their living spaces. The problem is that most homes weren’t built to comfortably accommodate 85 to 97-inch TVs; owning one means making it an awkward focal point above the fireplace that causes neck strain. Is there a better way? Absolutely. […]

Rent-to-own, or lease purchase, is a legal means of buying a home with a future closing date, usually one to five years from the date of the rent-to-own contract. Until then, the homebuyer rents the home before applying for a mortgage to buy the home. The concept can benefit both homebuyers and home sellers, but […]

As a first-time homebuyer, you may be racking your brains trying to figure out how to make more money quickly for a down payment to qualify for a mortgage loan. You need to have cash tucked away that’s hopefully building interest, yet it also needs to be accessible in case the right home comes along […]

With its small-town charm and temperate climate year-round, the Smith Mountain Lake area presents many perfect opportunities to enjoy a day or two out in the great outdoors. Below, you’ll find my most recommended activities, sure to fit a variety of interests and preferences. TOP ACTIVITIES IN SMITH MOUNTAIN LAKE Hiking The Smith Mountain Lake […]