Frequently Asked Questions

Interested in learning more about the real estate process? Here are some frequently asked questions ( faq ) listed below. Contact Bowie Realty Inc. for more information.

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• ( Q ) The mortgage market and how it works

( A ) The mortgage market can seem complicated. Fact is, it is not as complicated as it is ever-changing. By understanding the market, you will get a better idea about mortgage programs offered by certain lenders. ( Learn more )

• ( Q ) Lower the payment of your current loan?

( A ) When you purchase a home and put down less than 20% of the purchase price, you will be required to pay Private Mortgage Insurance, or PMI. Many home buyers can save hundreds per month by removing their PMI. ( Learn More )

• ( Q ) Should you make additional mortgage payments?

( A ) Prepaying on your mortgage can save you major dollars throughout the life of your home loan. Here is a guide explaining when prepaying is the right decision, and just how much money you can potentially save. ( Learn more )

• ( Q ) What is a rate lock and how does it work?

( A ) When you are in that period of time between the approval and closing of a mortgage loan, the lender may offer to lock in your rate. It is important that you understand what a rate lock is and when it can help. ( Learn More )

• ( Q ) The pros and cons of refinancing

( A ) With declining mortgage rates over the last few years, more and more people are looking into refinancing their homes. Before you make a decision to take the plunge into mortgage refinancing, get all the facts. ( Learn more )

• ( Q ) The basics of reverse mortgages

( A ) For some people at or near retirement, reverse mortgages are a great way to generate a monthly income. But many people do not know or do not understand exactly what a reverse mortgage is and how it works. ( Learn more )

• ( Q ) 10 mistakes home sellers make

( A ) When selling your home, you can significantly increase your chances of a quick sale by avoiding common seller mistakes. Here is a list of common mistakes many homeowners make when trying to sell their home. ( Learn more )

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