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About East Oregonian : E.O. (Pendleton, OR) 1888-current | View Entire Issue (Oct. 1, 2016)
14E // Real Estate & Home Builders Guide // October 2016 WHITNEY AND ASSOCIATES Each Office Is Independently Owned And Operated S EA Q U IS T ED UC PEND LETO WALL N LARGE 4 BEDROOM, 2 bath home with 2 fireplaces! *HUD OWNED* $121,468 RMLS # 16628362 LLA LARGE 4 BEDROOM, 3 bath tri-level home on a corner lot. $229,500 MLS # 116219 WALL UNION CUTE 2 BEDROOM, 1 BATH on a .28 acre lot. $74,575 RMLS # 16514299 A WA A WA WALL A WA MILTO N-FRE EWAT ER CLEAN AS A WHISTLE 3 bedroom, 1 bath. Amazing garden areas! $129,900 RMLS # 16338741 725 S. Main Street, Milton-Freewater, OR 97862 Paul R. Seaquist Valerie Alderson Principal Broker 509-520-3331 Principal Broker 541-969-9964 Christopher was born and raised in Pendleton, Oregon. He attended college at Blue Mountain Community College, transferred to University of Idaho and finished his schooling by graduating at Oregon State University with a bachelor of science in Agriculture. While going to school, Christopher worked in sales and established a great passion working with people. He has been a devoted member of the Pendleton community and highly involved in Round-up and Happy Canyon, Boy Scouts of America and F FA Alumni. At 24 years old he holds a variety of accomplishments such as Eagle Scout, BMCC Ambassador, Happy Canyon Minor Volunteer Award, FFA President, College Honor Roll and has his FFA State Degree. LLA 3 BEDROOM, 1 BATH HOME with fenced back yard. $101,500 MLS # 115797 e-mail: paul@seaquist-realestate.com e-mail: valerie@seaquist-realestate.com e-mail: manningbroker@gmail.com www.eohomes.com www.tourmf.com ED UC RED LLA 3 BEDROOM, 2 BATH with fenced back & covered deck. *HUD OWNED* MLS # 116003 $81,000 www.coldwellbankerwhitney.com cb@coldwellbankerwhitney.com Christopher D. Stuvland is our newest member of the Coldwell Banker Whitney & Associates family. He is extremely excited to pursue and devote his time to provide the excellent service that was built on the Whitney & Associates name. R EA L ES TA T E RED 37 SE Dorion Pendleton, OR 97801 541-276-0021 • Fax 541-276-6749 Tammy Manning (541) 938-3331 Broker 541-620-2181 My Commitment To You: I understand and agree that, the best relationships are built on trust, mutual respect and a shared interest in the success of both parties. The core values of integrity, diversity, effort, accountability and service align with my personal belief of what a successful business relationship should be based upon. I am excited to promote the real estate industry and the benefits of owning property. I look forward to the opportunity of being part of the community and building new relationships as a member of the Coldwell Banker Whitney and Associates team. Give me a call today 541-969-5383 and we can get started! H om e B uyer s ' Glossary Adjustable-rate Mortgage (ARM) - A mortgage for which the interest rate and the payments change during the life of the loan. Agreement of Sale - The contract in which the seller agrees to sell and buyer agrees to buy, with conditions and terms spelled out and signed by both parities. Amortization - A plan for gradually repaying, in periodic payments, money borrowed. Balloon Mortgage - A mortgage that has a large amount of the principle due at the time of maturity. Bridge Loan - A loan that finances a mortgage at the end of one loan and the start of a new one. Closing Costs - Expenses and fees that are added to the price of the property, paid by the buyer and the seller at the closing. The Agreement of Sale states who pays which costs. Commercial Bank - A financial institution authorized to provide a variety of financial services, including consumer and business loans (generally short-term), checking services, credit cards and savings accounts. Condominium - The buyer owns title to a residential unit, shares common areas with other unit owners and pays maintenance fees to the condominium association for property upkeep. Conventional Loan - A loan not guaranteed by the VA or insured by the FHA. Co-op - In exchange for the right to occupy a co-op unity, the buyer owns shares in the co-op corporation (made up of co-op residents), rather than owning real property. Federal National Mortgage Association Payment Cap - Limits the amount that a monthly payment on an ARM loan can increase at the time of adjustment. (FNMA or Fannie Mae) - A privately owned and managed corporation that purchases mortgage loans originated by other lenders. Fannie Mae issues stocks and securities to obtain funds for its purchases. Points - One percent of the amount of the mortgage loan. arrived at by dividing the borrower's fixed monthly obligations by the borrower's monthly income. Fixed-Rate Mortgage - A loan that has one Prepayment - Payment of a mortgage loan, Due-on-sale Clause - A mortgage stipulation demanding payment of the entire loan balance upon sale or other transfer of the real estate securing the loan. Intermediate-term Loan - A home loan of Debt-to-income Ratio - A percentage Equity - The ownership interest remaining in property after payment of all liens or other charges on the property. Escrow - Funds left in trust with a third party, to be paid to a designated recipient at a designated time. F ederal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) - A quasi-governmental secondary market agency that purchases whole mortgage loans. Freddie Mac sells interest in pools of mortgage loans to obtain funds for mortgage loan purchases. Federal Housing Administration (FHA ) - A government agency within the Department of Housing and Urban Development that administers many programs involving housing loans made from private funds, including mortgage insurance for lenders and rent or interest assistance for low-income tenants and mortgagors. set interest rate. Installment Debts - A buyer's long-term debts; they usually extend for periods longer than nine months. less than 30 years. Life-of-loan Cap - A consumer protection on some adjustable loans. It limits the total upward adjustment that may occur during the life of the loan. Also known as an overall cap. Loan-to-value Ratio - The relationship between the amount of a home loan and the total value of the property. Lenders may limit their maximum loan to 80-95 percent of value. or portion of the loan, before the due date. Prime Rate - The interest rate that banks charge to their preferred customers. Changes in prime rate are used as indexes in some adjustable rate mortgages, especially home equity lines of credit. Principal - The basic loan amount, separate from interest, insurance, and taxes. Private Mortgage Insurance (PMI) - The insurance coverage offered by a private company that protects a lender against loss on a default mortgage loan. Its use is usually limited to loans with high loan-to-value ratios. The borrower pays the premiums. Lock-in Rat e - A rate commitment made by lenders when making a mortgage loan to commit to or "lock in" that rate pending loan approval. Lock-in commitment periods vary. Title Search - A check of title records to Market Value - The highest price the buyer is willing to pay for a property and the lowest price the seller will accept. assure that the buyer is purchasing property with no liens, encumbrances, or other claims which might adversely affect the title's value or marketability. Mortgage - A lien or claim on property given by a buyer to a lender as security for money borrowed. Mortgage Broker - An individual or company that obtains mortgages for others by finding lending institutions, insurance companies, or private lenders to lend money. Title - Proof of ownership. Veterans Administration (VA) - A government agency that helps veterans of the armed forces obtain housing.
