Flower Mound, Plano and Frisco real estate and homes for sale in Texas - The Rhodes Team, REALTORS® The Rhodes Team REALTORS(r) for Flower Mound, Plano and Frisco, Texas real estate - NUMBER1EXPERTS™ The Rhodes Team NUMBER1EXPERTS(tm) for Flower Mound, Plano and Frisco, Texas real estate
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Real Estate Tips
First Time Buyers >The Seller May Pay

The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.

One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.

Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.

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Real Estate Trivia
Q 
What does the term ARM stand for?

A 
An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
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The Rhodes Team, REALTOR®, real estate agents and broker for Flower Mound, Plano and Frisco Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Rhodes Team
Keller Williams

3204 Long Prairie Road, Suite C
Flower Mound, TX 75022
18383 Preston Rd. #150 Dallas, TX 75252
Tel: 972-899-5600
Toll-free: 800-356-6659
Fax: 972-380-7971
Email: russellrhodes@NUMBER1EXPERT.com

Verna and Russell are a mother and son duo who have combined forces to provide superior services to their clients throughout Flower Mound, Lewisville, Coppell, Carrollton, Frisco, Plano, The Colony, Grapevine, Southlake, Argyle, Lantana, Double Oak, Highland Village, Corinth, Bedford, Euless, Corinth, Little Elm, Denton, Dallas, Trophy Club, Richardson, Allen and surrounding areas. They have over 30 years of combined experience and have sold over 2400 homes. Russell is dedicated to running the business in a way that pleases and brings honor to God. Their group, The Rhodes Team, is comprised of eleven licensed agents and two non-licensed members whose goal is to assist their clients with a servant’s heart. They are committed to providing first class service before, during and after the sale. They will be there when you need them. ALWAYS!

Allen, Argyle, Bedford, Carrollton, Coppell, Corinth, Dallas, Denton, Double Oak, Euless, Flower Mound, Frisco, Grapevine, Highland Village, Lantana, Lewisville, Little Elm, Plano, Richardson, Southlake, The Colony, and Trophy Club.

*Each office is independently owned and operated.

Equal Housing MLS REALTOR


Keller Williams real estate and homes for sale in Flower Mound, Plano and Frisco Texas

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