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Ted Lockwood, REALTORŽ, real estate agent and broker for Traverse City, Leland, Suttons Bay and Elk Rapids Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

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Looking for Traverse City, Leland, Suttons Bay and Elk Rapids homes? Search everything the web has to offer, right here! Don't miss my Feature Homes.

Need local Traverse City, Leland, Suttons Bay and Elk Rapids real estate information? I've summarized much of what is important about the Traverse City, Leland, Suttons Bay and Elk Rapids real estate market in this site.

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Contact me with confidence! I guarantee your privacy will be respected. And I offer the services on this site for free and without obligation. Why? I want to be YOUR Traverse City, Leland, Suttons Bay and Elk Rapids Realtor. As your trusted, professional real estate partner, I will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible.

Buying and selling a home is one of the biggest events in your life. As a top Traverse City, Leland, Suttons Bay and Elk Rapids Realtor, I have the experience and track record you are looking for. Please let me help.

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School Reports in Traverse City, Leland, Suttons Bay and Elk Rapids, Michigan

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Schools in Traverse City, Leland, Suttons Bay and Elk Rapids

Financing Your Home >Mortgage Terms

New mortgage loan products offer a more complex selection of terms. Lenders now offer mortgages that are blends of short-term ARMs and 30-year fixed-rate loans with a lower fixed-rate of interest for a period of five, seven or ten years. Be sure that you understand what happens at the end of the initial term before you sign on the dotted line for such a loan.

Many of these loans revert to a 1-year adjustable rate loan at the end of the initial term and can be adjusted once a year based on an index tied to the cost of money. You should know how much over the index your rate will be set and the limit or cap on how much your payments can increase. A "balloon" note requires the entire balance to be paid to the lender after the initial period of the loan ends. Most of these loans require the lender to guarantee to refinance the note at that point if payments have been timely. The lender should spell out how the re-finance rate will be determined and what costs will be involved. These loans can help you buy a more expensive house than you could afford with a 30-year fixed rate mortgage, but be sure that you understand the terms and the potential risks.

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Q	Where would you go to visit the largest ancient castle in the world?
A	You would travel to Prague, Czech Republic, to see the Prague Castle, built in the 9th century, with a total surface area of 18 acres.
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Lender
Standard Federal Bank
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Ted Lockwood
RE/MAX Bayshore Properties, Ltd.
500 South Union Street
Traverse City
MI 49684
231-941-4500
231-218-5186
Fax: 231-941-4595
Email: ted@teddylockwood.com

Ted Lockwood is a lifetime resident of the Grand Traverse area. He knows the area, and he knows real estate. He is easily accessible, just call or email!

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