South Haven

1101 54th St, Grand Junction MI home

BIG PRICE REDUCTION!! This home has a delightful setting. It is only 1 acre, but with the trees surrounding the property you feel like you’re way out in the country. Concrete sidewalks provide easy, safe accessibility. Nicely landscaped plants by walks. The inside has been well kept up and is ready to warmly welcome you in. The master bed and bathroom are nice sized. The LR (12×15) gives plenty of room for the family or for entertaining. The third bedroom doorway was modified to make it a den, but could easily be modified back to a bedroom (or leave it the way it is). The kitchen has oak cabinetry (upgraded at the factory) and looks very good, with ample room in kit. The back porch invites you to sit outside and enjoy the country. The garage is plenty big (24×24) giving you lots of room. Lights by the driveway and doorways help brighten the dark night. Set on block walls (not skirting). Wired at factory for AC. This home is a wonderful place. Subject to short sale.

70013 16th Ave, South Haven Michigan Home SOLD

Owner wants an offer!! Make an offer and the owner will work with bank, needs to sell ASAP!!

Here is a great 3 bedroom, 1 1/2 bath ranch priced to sell. This home with acreage has had some recent updates and is just minutes from South Haven. Breezeway between house and garage. A must see. Seller will look at all offers. Square footage, room dimensions and site dimensions are approximate.

Call or email today to schedule a viewing:

Tom Frame - (269) 580-2259 or tframe {at} kalvan.com

5085 103rd Ave, Grand Junction Michigan Home SOLD

This home sits on a 1.13 acre lot that overlooks beautiful Osterhaut Lake. The Custom Built home is brand new and has never been lived in. The kitchen and living room have 17 ft. vaulted ceilings. The kitchen is furnished with wood flooring and Maple cabinets, along with formica countertops and Moen faucets.

The living room has a woodburning fireplace with a custom built oak mantle. Off of the front of the home is a large wooden deck to relax on. This well built custom home comes complete with Copper water lines, 200 amp electrical service, 90% gas furnace, recessed lighting, ceiling fans and much more.

Contact Tom for more info, and to see this property!
(269) 580-2259 or email at tframe {at} kalvan.com

South Haven and Bangor Homes - Should you buy mortgage points?

This is part 2 in a series about understanding your mortgage. Read more: Understanding Mortgage Points

You can also “buy” points to improve the interest rate you get on your mortgage.  If you have the available cash on hand, and have long-term plans to stay in the house, you may think about “buying down” points to qualify for a better interest rate.  Though you’ll have to bring more money to closing, you’ll enjoy lower monthly payments over the life of your mortgage.

Generally, for each point prepaid, the interest rate on your mortgage will drop about a quarter (.25) of a percent (unfortunately it’s not a one-percent-for-one-percent deal!)  Additionally, lenders usually set the number of points that you can prepay (so you can’t just pay a little more for a 0% nterest rate).

When to Buy Down Points

When should you prepay points?  It depends.  If you have the extra cash on hand, there might be a better way to invest it.  Sit down and do the math before you decide (I used to be a teacher, so I’m happy to help with this).  Divide the total cost of the points by the savings in each monthly payment.  That answer is the number of payments it takes to break even.  If the number of months to payback is longer than you plan to have the mortgage, another loan option should be considered.

If you don’t have cash available, don’t think about borrowing it.  Doing so will increase your loan amount and total costs because you’ll be paying interest on that for the life of the loan as well.

If you’re looking to buy real estate in South Haven or Bangor, you really need to understand all of the costs of your mortgage.  I’d be happy to meet with you to explain!

South Haven and Bangor Michigan - Understanding mortage points

You need to understand ALL of the costs of your mortgage!

When you’re getting ready to purchase a South Haven or Bangor home, it’s really important that you understand all the different costs that are involved with your home purchase.  Today we’ll talk about what it means to pay “points” on your mortgage.

Points are simply fees paid to receive a home mortgage. Consider them your “cost” to get a mortgage.  Each point is 1% of the total loan amount.  So, one point (one percent) of a $80,000 loan is $800.

The two most common types of “points” are:  Loan origination points and Discount points.

Loan Origination Points are the fees that your lenders will charge you to obtain your mortgage. Similar to interest rates, points (or sometimes even fractions of points) will often vary between lenders.  Some lenders don’t even charge points, so take the time to shop around.

Discount Points are the fees that lenders charge for the interest rate you’ll pay on a mortgage.  Once again, one point equals one percent of the total loan amount.  The numbers of points charged changes with the time, location, lender and the local mortgage and investment market.

More discount points may be charged if you have had credit problems. Sometimes, lenders may also only qualify you for a higher mortgage rate than advertised.  Those with poor credit may find they have to pay anywhere from 2 to 4 times the points as those with good credit.  That’s why keeping a good credit history and comparing all the costs of a mortgage is so important.

Read more: Should you buy mortgage points?

If you think you’re ready to purchase your South Haven or Bangor home, you really owe it to yourself (and your bank account) to really understand your mortgage. I’d be happy to meet with you and answer any questions you may have. Feel free to call me at (269) 580-2259, or email me at tframe (at)kalvan.com

South Haven summer getaways

With the Annual Blueberry festival coming up soon, I thought I would offer up a quick video for those that aren’t yet familiar with our beautiful town and all that it has to offer. Already coming up for Blueberry Fest? Don’t miss some of our other attractions!

First-time-buyers: Glossary of Basic Terms

If you’re new to the real estate market, it’s always good to familiarize yourself with some of the unfamiliar terms. You don’t want to agree to something you’re not comfortable with, simply because you didn’t know what the term meant. Here are a few basic terms that I think first-time buyers in South Haven and Bangor should know.

Annual percentage rate (APR): Yearly interest on a loan, expressed as a percentage. Includes fees and other costs so you can compare offers from different lenders. The lower the APR, the better.

Appraisal: An estimate of a property’s value. A lender will usually require an appraisal, and won’t approve a loan for more than this figure.

Back on Market (BOM): A property that has been relisted because a previous deal fell through. These are often described as “no fault of seller” to assure buyers that there is nothing wrong with the house.

Closing attorney or escrow agent: A neutral party, they work with all parties - the lender, title insurance company, buyer and seller - to make certain that all the details of the closing come together without a hitch.

Comparative Market Analysis: These are also known as “comps”, and are a comparison of the value of a certain home with other similar properties in the area. They are usually based on sales and offering prices, along with number of bedrooms, similar home features, land acreage, etc. As your agent, I will put these together for you when you’re starting to zero in on a specific house, to make sure that it is appropriately priced, and a good value for you.

Credit bureau score: a number showing how likely you are to default on a loan, based on your credit history.

Down payment: The amount of a home’s price you pay in cash; usually from 0% to 20%

Lock-in: A lender’s guarantee that you’ll get a specific interest rate if your loan is closed within a certain period. Interest rates can change at any time, so if you think you have a good rate, be sure to lock it in.

Mortgage banker: A lender, bank or company that provides loans.

Mortgage broker: A person or firm that arranges loans from multiple lenders.

Preapproval: A lender’s promise (subject to final guarantee) to supply you with a specific amount for a mortgage.

Prequalification: A lender’s informal estimate of the maximum you’d be allowed to borrow.

Private mortgage insurance (PMI): Protects the lender if you default on a mortgage; only required if your down payment is less than 20%.

South Haven and Bangor events - Van Buren County Fair

This week marks the annual Van Buren County Fair, located at the county fairgrounds in Hartford, MI. This is a great event that my family and I really enjoy. My daughter won’t be showing her horse this year, but we’ll still go to cheer on her friends, and enjoy the local agricultural community.

Highlights:

Monday night - Truck and Car Derby at 7pm

Tuesday night - Super Farm Tractors at 7pm

Wednesday night - Pickup and Semi Truck Pulls at 7pm

Thursday night - Square Dancing at 7pm, Classic Rock & Blues at 8pm, and Fireworks at 10pm

Friday night - Super Kicker Rodeo and the Backroads Band at 7pm

Saturday night - Demolition Derby at 7pm

For more details on the schedule of the various events, visit their website at www.vanburenyouthfair.com

First-time-buyers: Glossary of Abbreviations

As a first time buyer, it can be confusing to look through all the housing ads, and try to make sense of all the various terms and abbreviations. Some are obvious (okay, ba stands for bath, pretty easy). But if the agent gets too excited, it can read like alphabet soup:

Great 3 br/2ba home on .5 ac with w/w cpt in the fdr, and lovely dk in the bkyd.

So, here is a translation of some of the most common abbreviations, just for you!

ac: acre

a/c: air conditioner

appls: appliances

ba: bath

BOM: back on the market

br/bd: bedroom

clsts: closets

dk: deck

dr: driveway

d/w: dishwasher

fdr: formal dining room

FSBO: for sale by owner

gar: garage

lr: living room

occ: occupancy

pkg: parking

spac: spacious

stu: studio

terr: terrace

w/d: washer/dryer

w/w cpt: wall-to-wall carpet

Hopefully this helps you decipher more descriptions in your exciting search for your first South Haven/Bangor home. Are there any other abbreviations you’ve seen that you need help figuring out? Post a comment and let me know. I’m here to help!

And if you’ve come across what sounds like the perfect home, and are ready to start looking, I’d be happy to give you more information, beyond just the basic description. Feel free to contact me anytime.

Want more? Check First-time home buyers: Glossary of basic terms