REAL ESTATE FINANCES

Buying, Selling and owning real estate can be a very complicated financial endeavor. The information on this page should be considered an introduction to real estate finances. If you seek more technical or detailed information or guidance, you're welcome to contact Signature Realty Services, and you're also strongly encouraged to consult with a financial professional.

LENDERS

   Recommended Lenders & Current Interest Rates

The lenders recommended on this web site took two steps to get here. First, buyers chose to work with them. Second, the lenders always performed as promised. When they say a loan is good, it is good. If they say a buyer can shop for a $200,000 house, SRS can conduct its realty duties confident that the buyer will be able to close. There are no last-minute glitches, no hidden or surprise costs. Lender funds are always disbursed in time for scheduled closing. The lenders on this web site can be trusted to perform professionally and deliver as promised.

Of course, you're welcome to contact the lender of your choice. And there are lenders in Bloomington (and elsewhere) who perform equally responsibly. The only reason those lenders aren't included is that Signature buyers simply haven't chosen them. If you are a Signature buyer and choose a lender not on this list, just make sure you let your agent know. Your Signature agent will want to reserve the opportunity to interview your lender and ensure they will perform in your best interest and will have funds available at closing.

   Interviewing Lenders

Here are a few handy questions and tips to help you decide on which lender is best for you. Lenders have different programs, rates and costs, so it is in your interest to investigate your options and ensure you are comfortable with the lender and loan product that you select.

PROPERTY TAXES

Aside from your mortgage, property taxes will likely be your next-largest recurring expense associated with owning property. Elected officials at the state level in Indiana are moving forward with efforts to modify property taxes in this state, so government funding in general and property tax calculation in particular could be totally changed by this time next year.

MORTGAGE CALCULATOR

This is a simple and handy three-scenario calculator that will let you compute three monthly payments side-by-side so you can see which mortgage works best for you. Note that the calculated payment includes only principal and interest. It does not include property taxes, insurance, HOA dues, or other costs that might comprise a monthly payment associated with owning your property.

INVESTOR WORKSHEET (Excel file format)

Are you thinking of buying investment property? Enter purchase price, annual income and annual expenses, and this spreadsheet will calculate the property's cash flow before tax, cap rate and cash on cash.

NOTE: At the first dialog box, select 'Enable Macros' or the spreadsheet won't work. Do you need an Excel file viewer? Go to www.microsoft.com, search for Excel File Viewer to download and install the viewer, then come back here and run the investor worksheet.

THE IRS AND REAL ESTATE

yuck ...nuff said ... but, being a necessary evil, you might want to visit here and see which rules affect you. Whether buying or selling, whether owner occupied or investment property, you should know the rules and how they can benefit you.

MISCELLANEOUS FINANCIAL RESOURCES

Here you'll find a hodgepodge of links and information that might fit into your realty interests.