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Realty Professionals, Inc.
26040 Detroit Road, Ste #3
Westlake, OH 44145
Phone: (440) 835-0272
Fax: (440) 835-0287
Toll Free: (800/877) 835-0272
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The Accredited Buyer Representative (ABR®) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYER'S AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS® who meet the specified educational and practical experience criteria.GRI stands for Graduate REALTORS® Institute. The GRI designation acknowledges REALTORS® who have completed a comprehensive education program that provides practical real estate training. This program is above and beyond the education required to earn a real estate license.An arrangement by which real estate brokers place their listings together so that all members of the multiple-listing service have an opportunity to sell properties listed by other members of the service.A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS® (USA) or the Canadian Real Estate Association (Canada). The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.CRS stands for Certified Residential Specialist. The CRS is a nationally-recognized designation. REALTORS® with the CRS are acknowledged for advanced study in listing, selling, investment, taxes and a proven record of experience in applied residential marketing.The Christian Fish, also called the Jesus Fish or Ichthys, was a secret symbol of early Christianity.Hold mouse over logo for description.
Types of Loans
  • Fixed Rate Loans—An excellent way to lock into a low interest rate for the life of your loan.

     
  • Adjustable Rate Mortgages (ARM's)—The flexible loan, with lower initial rates and payments.

     
  • Initial Fixed Rate Loan—Start with a rate generally lower than standard fixed rate loans.
30 Year Fixed Rate
Borrower Goals Loan Parameters
•  Plan to live in the property over 10 years
•  Like total payment stability
•  Interest rate & monthly payment remain the same for 30 years

15 Year Fixed Rate
Borrower Goals Loan Parameters
•  Plan on staying in property over 10-15 years
•  Want to pay off property faster than 30 years
•  Lower interest rate than 30 year loan
•  Interest rate & monthly payment remain the same for 15 years

10/1 Year semi-fixed
Borrower Goals Loan Parameters
•  Plan to live in property approximately 10 to 12 years
•  Like initial payment stability, can accept interest rate change later
•  Interest rate & monthly payment fixed for the first 10 years
•  Starting the 11th year, interest rate adjusted every year, so payment is subject to change every year for remainder of loan

7/23 (2-Step) or '30/7 + 23'
Borrower Goals Loan Parameters
•  Plan to live in property approximately 7 to 8 years
•  Can tolerate one payment adjustment
•  Interest rate & monthly payment fixed for the first 7 years
•  Conversion option: On the 8th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan

7/1 Year semi-fixed rate
Borrower Goals Loan Parameters
•  Plan to live in property approximately 7 to 8 years
•  Like initial payment stability, can accept change later
•  Interest rate & monthly payment fixed for the first 7 years
•  Starting the 8th year, interest rate adjusted every year, so payment is subject to change every year for remainder of the loan

5/25 (2-Step) or '30/5 + 25'
Borrower Goals Loan Parameters
•  Plan to live in property approximately 5 to 6 years
•  Can tolerate one payment adjustment
•  Interest rate & monthly payment remain fixed for the first 5 years
•  Conversion option: On the 6th year, interest rate adjusted to reflect prevailing fixed interest rates, resulting payment will remain the same for remainder of loan

5/5 & 5/1 Year semi-fixed rate
Borrower Goals Loan Parameters
•  Plan to live in property approximately 5 to 6 years
•  Like initial payment stability, can accept later changes
•  Interest rate & monthly payment remain fixed for the first 5 years
•  Starting the 6th year, interest rate adjusted every 5 years(for 5/5 ARM) and every year (for 5/1 ARM)

3/3 & 3/1 Year semi-fixed
Borrower Goals Loan Parameters
•  Plan to live in property 3 years or less
•  Like initial payment stability, can accept later changes
•  Interest rate & monthly payment remain fixed for the first 3 years
•  Starting 4th year, interest rate adjusted every 3 years (for 3/3 ARM) and every year (for 3/1 ARM)

Adjustable rate loans
Borrower Goals Loan Parameters
•  Want to take advantage of lowest rate possible
•  Are willing to accept yearly payment changes OR
•  Cannot qualify at higher rate programs
•  Interest rate adjusted every year, so monthly payment is subject to change every year for entire 30 year loan term
•  Potential higher payments (at maximum interest rate)