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.