Real Estate Tips

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Blue Ridge Properties has compiled this list of tips to help with all of your real estate needs from staging and styling to sell your home fast to ensuring you get the best deal as a home buyer:

BRUSH UP ON THESE FINANCIAL TERMS

 

If you don't "speak finance" on a regular basis, here are a few terms that could come in handy.

 

Amortization:  This is the process of paying off a debt by making regular installments over time. For example, the amortization schedule for a mortgage calculates your monthly payments based on the amount borrowed plus interest over the life of the loan.

 

ARP:  An acronym for annual percentage rate, APR can refer to the interest rate on a mortgage, car loan, or credit card balance. Your APR is usually based on the U.S. Prime Rate and any additional margin your lender adds, and it can vary based on the type of transaction.

 

PITI:  This acronym stands for principal, interest, taxes, and insurance-the four components of a mortgage payment. It's important to understand PITI in order to get an accurate picture of what your monthly payment includes.


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321 Broad St

423-247-4181
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4610 Fort Henry Dr

423-239-0100
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