Property taxes are a fundamental aspect of real estate ownership, serving as a primary source of revenue for local governments to fund essential services and infrastructure projects. Understanding property taxes is necessary for property owners to manage their financial obligations and plan for the future. Let’s delve into the basics of property taxes in real estate, how […]
In the realm of real estate, the term ‘REO’ is a unique one. It stands for Real Estate Owned, a term that refers to properties that have been foreclosed upon and repossessed by the lender or financial institution. These REO properties, unlike others, become available for sale after unsuccessful foreclosure auctions, offering a distinct opportunity
REO in Realty: Understanding Real Estate Owned Properties Read More »
Realty Income Corporation, often referred to as “The Monthly Dividend Company,” has a robust track record of consistently paying and increasing dividends to its shareholders. This unwavering commitment to dividend payments, even during economic uncertainty or market volatility, showcases Realty Income’s resilience and reliability. Let’s delve into the factors that underpin this stability and what
Will Realty Income Cut Dividend? Understanding the Factors at Play Read More »
Understanding property taxes is not just a matter of financial literacy, it’s a crucial aspect of real estate ownership and investment. Whether you’re a homeowner or an investor, property taxes can significantly impact your financial planning and decision-making. Let’s delve into what property taxes entail, how they are calculated, and their significance in the realm of reality. Local
Property Taxes in Realty: Understanding the Basics Read More »
In the world of real estate, various individuals and entities play crucial roles in facilitating transactions, navigating legal complexities, and ensuring smooth operations. Let’s explore the principles involved in realty and their significance in the real estate ecosystem. In summary, realty principals encompass various individuals and entities involved in real estate transactions, including buyers, sellers,
Principals in Realty: Understanding Key Players in Real Estate Transactions Read More »
Pre-qualification is an essential step in the home buying process, providing prospective buyers with valuable insights into their mortgage options. Let’s delve into the fundamentals of pre-qualification and its significance in navigating the real estate market. Pre-qualification involves a preliminary assessment of a borrower’s financial information by a lender to estimate the maximum amount they
Understanding the Basics of Pre-Qualification in the Home Buying Process Read More »
The term “principal” holds significant importance in finance, representing a fundamental concept in various financial transactions and investments. Let’s delve into what principal means and its role in finance. The principal refers to the original money invested, loaned, or borrowed in finance. It serves as the foundation of a financial transaction and determines the initial
Understanding the Concept of Principal in Finance Read More »
In the competitive real estate landscape, being prepared is paramount, and one of the most crucial steps buyers can take is obtaining a pre-approval. Let’s delve into the significance of pre-approval and why it’s a game-changer in the homebuying process. Pre-approval, unlike pre-qualification, is a preliminary evaluation conducted by a lender to assess a borrower’s
The Power of Pre-Approval in Real Estate: A Buyer’s Essential Step Read More »
In the dynamic world of real estate, the Multiple Listing Service (MLS) stands as a cornerstone, revolutionizing how properties are bought and sold. Let’s explore the significance of MLS and its role in facilitating efficient transactions for buyers, sellers, and agents alike. The MLS is a comprehensive database of properties listed for sale by real estate
Unlocking the Power of Multiple Listing Service (MLS) in Real Estate Read More »
The term “mortgage note” frequently arises in real estate transactions, yet its significance might remain obscure to many. Let’s unravel the mystery surrounding this critical document that is the backbone of home financing. Essentially, a mortgage note is a legal document outlining the terms and conditions of a loan between a borrower and a lender. It serves
Mortgage Notes: Understanding the Backbone of Home Financing Read More »
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| Provider and Settlement Service | Charge or Range of Charges |
|---|---|
| Sonic Realty LLC | 1%-6% of purchase price |
| Sonic Title Agency, LLC | Title Insurance Policy: $950 - $1706 on a $250,000 property. (Rates vary and are dependent on the state, selling price, and loan amount on the property.) Title Search Fee: $250 - $325 (where applicable) Closing Fee: $450 - $650 |
| Sonic Loans Inc. This company provides various real estate mortgage loan origination activities either as a third-party originator or a mortgage broker, including loan pre-qualification, competitive bid process (when providing third-party origination services), loan origination, loan pre-approval, loan structuring, processing, and closing. | Loan Origination Charge: 0-3 % of loan amount (may include 3rd party fees) Loan Discount Fee/points: 0.5%-6% of loan amount. Application/Processing Fee: $0.00 - $875.00 Flood and tax service: $0.00 - $95.00 Underwriting Fee: $0.00 - $1295.00 Document Review Fee: $0.00 - $400.00 Appraisal Fee: $0.00 - $850.00 Credit Report Fee: $0.00 - $135.00 Actual charges may vary according to the particular lender selected, the particular services provided, and the underlying transaction, borrower selections, etc. Some or all of these fees may be charged by third parties and/or the Member Mortgage Lender/Mortgage Broker. The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.75% of the loan amount to Sonic Loans in connection with a range of loan origination services provided by Sonic Loans to the Member Lender/Mortgage Broker. The fees are paid either directly to Sonic Loans by the Member Lender/Mortgage Broker or billed directly to you at closing. |
| Provider and Settlement Service | Charge or Range of Charges |
|---|---|
| Appraisal Fee | $0-$800 |
| Credit Report Fee | $63-$125 |
