Writing the Offer - Financial Considerations

It is standard practice to make a purchase offer contingent upon obtaining a mortgage. Because of this contingency, the seller will want the details of your financing plan included in the offer.

Down Payment
In the purchase offer, we will include the down payment amount you will apply toward the purchase. This will give the seller further evidence of your qualifications to secure a mortgage.

Interest Rate
Within the purchase offer, we will provide a safeguard against any dramatic change in interest rates between when the offer is made and when the loan is closed. The offer will not only be contingent upon qualifying for a mortgage, it will also be contingent upon an interest rate within a certain range.

Shopping for Interest Rates >

Seller Assistance
If the house you select is at the top-end of your budget range, we may want to include a request for seller assistance to pay a portion of the closing costs traditionally paid by the buyer or to help "buy-down" your interest rate. Other seller assistance may include having the seller "carry back" a second mortgage to cover your down payment or even 100% seller financing.

With any of these seller assistance options, you can expect to pay a higher purchase price than if you had handled the financing through a traditional mortgage lender.

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Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed3.87%4%
15-yr Fixed3.14%3.31%
1-yr Adj2.76%3.42%
* national averages



Mortgage Calculator:
Sales Price: $
Down: %
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Term: yrs
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Charleston Real Estate Resource – Debbie Donovan Realtor:

Debbie Donovan Charleston RealtorTake the frustration out of selling in today's challenging market by choosing an agent with a straightforward approach who gets results.  Debbie Donovan of Coastalina Realty of Charleston has a no-nonsense, can-do attitude.  She specializes in properly pricing homes so you get the result you want, a SOLD sign in your yard and the ability to move forward with your plans.  Add this to an aggressive internet strategy and you've got a winning combination.  Contact Debbie today at 843-327-6099 to discuss how she can help you get your home SOLD.    

Debbie Donovan
Coastalina Realty of Charleston
613 Long Point Road
Mt. Pleasant, SC 29464

843-849-7778 office
843-327-6099 cell



 
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