Charleston SC Real Estate Video Blog with Jeff Cook

Buying a Charleston home? Get a full home search

Selling your Charleston home? Get a free home value report

Today, mortgage expert Todd Sevier joins us again to dig deeper into the lending process. Today he answers: What's the difference between a fixed-rate mortgage and an adjustable-rate mortgage?

A fixed-rate mortgage means that the rate you lock in when you are granted a loan remains the same for the duration of the loan. Some things, like taxes and insurance, can change over time, but the majority of your mortgage payment (the principal and interest) will never change. The most common loan is a 30-year fixed-rate, but you can also get loans for shorter periods.

An adjustable-rate mortgage is

typically going to have a lower start rate that will be fixed for a period of anywhere from 2-10 years. In that time frame, the rate will adjust. It can go up or down, depending on where the market is at that particular time. A rule of thumb when getting an adjustable rate is you should know what your future plans entail. If you get an adjustable-rate loan that will change in five years, do you plan on selling by then? If so, that loan may be a great option for you; if you're planning on living in the home for a longer period of time, you want to get a fixed-rate loan.

If you have any specific questions about this topic, or if you need real estate assistance of any kind, don't hesitate to reach out to us. You can reach Todd at (843) 408-0856 or by email at Todd@scmtgpro.com. We would love to hear from you!

Buying a Charleston home? Get a full home search

Selling your Charleston home? Get a free home value report

Today, we're excited to have our friend Todd Sevier of ResMac Home Loans join us today to discuss the current state of the mortgage market.

The first thing people ask when it

comes to buying a new home is how much they can actually afford. The primary things lenders are looking at are credit, income, and assets. An ideal credit score would be above 600, and the lender will also check to ensure you haven't had any foreclosures or bankruptcies in the recent past.

When looking at income, they will check to ensure you have a stable job and are current with all your payments. Also, your lender will check to make sure you have the available assets to put forward as a down payment if you are able to obtain the loan.

If you would like additional information about the mortgage market here in Charleston, or if you would like real estate assistance of any kind, don't hesitate to reach out to us! If you would like to reach Todd directly, you can call him at (843) 408-0856 or email him at Todd@scmtgpro.com. We would love to hear from you!

Why hire the Jeff Cook Team to represent you?

As the #1 Residential resale agent in the Charleston area for 5 years in a row, Jeff Cook is more than capable of handling the sale of your home in a satisfactory manner. You will not find a more experienced, driven, and successful group than the Jeff Cook Real Estate Group. Whether you are looking to buy or sell, you will find a team that is willing to put your satisfaction at the forefront of the business.

Jeff hopes to provide you with a superior buying and selling process with free reports on Charleston homes for sale and local listings of all homes for sale in Charleston. With a deep knowledge of the local area and a decade of experience within the field of real estate, Jeff is sure to exceed all of your expectations. If you want someone who will work tirelessly to ensure your satisfaction, then you are looking in the right place.

Jeff Cook
Jeff Cook Real Estate
Offices in Summerville, Charleston,
West Ashley, and Mount Pleasant
(843)225-2002
Info@JeffCookRealEstate.com

Erich - "The Jeff Cook team was very helpful through the whole process. Everyone was incredibly pleasant and they really kept me calm during times I was worried that nothing was going to happen. They always gave me good information and were very willing to work with me."

Lee - "I was very impressed with how they kept in contact with me. There wasn’t a week that went by where I didn’t hear from them. Jeff has the most knowledge and we really felt that he would be able to take care of our needs and concerns."

Jeff - "When we found the home we wanted, we told our Realtor at Jeff Cook Real Estate and told her what we were looking for. She worked very hard to get us into the house quickly and really made sure things were moving along. She even made calls to the utility company and home inspectors that, to me, was above and beyond!"

See what our thrilled Charleston real estate clients have to say

"Our real estate agent, the divine Becca Hodges and the entire Jeff Cook team made buying a home in Charleston SC, while still living in Kodiak Alaska, 4500 miles away, anxiety free. Becca was able to take our long lists of wants and needs in a home and set up multiple search criteria. Essentially, the home of our dreams found us. She happily met with our parents, multiple times, as our stand-ins for showings and never wavered at the challenge of a 4 hour time zone difference for many phone conversations. Working with Becca Hodges and Jeff Cook Real Estate was a pleasant experience. We highly recommend them."

- - - - - - -

We had to move to another city before our house was sold and we were scared to death of having to pay a mortgage and rent at the same time for too long. Luckily, Jeff Cook and his team quickly sold our house. We had multiple showings daily for two weeks with great feedback (painting allowance requested, power wash the house, etc.). Those few things were done and soon enough we had two offers. Within the month we were under contract, and closed not even two months later. It felt like a miracle honestly, and we even came out on top! The team works so seamlessly together, and is efficient in each of their roles, you never have to wonder if they've forgotten about your house. I really can't express my thanks enough, they were a dream team to work with! Its just too bad we weren't buying in the area again. Jeff Cook move to Atlanta!"

Click Here For Even More Reviews

Pages

What Loan Products Are Available in the Charleston Area?

What's the First Step of the Lending Process?