Cedar Falls and Waterloo real estate and homes for sale in Iowa - Celia Simmer & Elke Simmer Gerdes

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Real Estate Dictionary

Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

VA guarantee

An insurance contract for which the Veterans Administration (VA) guarantees the lender's recovery of a designated percentage of the loan amount from the insurer in the event that the borrower defaults on the loan

VA loan, or Government mortgage

A mortgage loan available to qualified military veterans which is guaranteed by the Department of Veteran Affairs, usually offering either no down payment or a low down payment

Valuation

The estimated of value of a property

Variable rate mortgage, or Adjusted rate mortgage

A mortgage with interest rates that may fluctuate based on market conditions

Verification of Deposit

A statement signed by the borrower's financial institution that verifies the current balances in the borrower's accounts

Verification of Employment

A statement signed by the borrower's employer that verifies the borrower's current position and salary

Vest

To pass an immediate right on to a person

Vested

Having the right to withdraw a percentage of a fund before its agreed-upon maturity date; e.g., the percentage vested to individuals with retirement funds differs; if someone is 80% vested, that means they can only withdraw 80% of the funds set aside for them until its maturity

Department of Veterans Affairs (VA)

A federal agency that insures residential mortgages made to eligible military veterans, which thereby encourages loans being made to veterans

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Real Estate Tips

First Time Buyers >The Real Bottom Line

An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!

The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.

When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.

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Real Estate Trivia

Q	What famous American monument is also the world's heaviest statue?
A	The Statue of Liberty, officially named "Liberty Enlightening the World", weighs 54.31 million pounds.
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Celia Simmer & Elke Simmer Gerdes, REALTORŽ, real estate agent and broker for Cedar Falls and Waterloo, Iowa home listings, property and land for sale

Celia Simmer and Elke Simmer
TRAPP REALTORS
3321 Cedar Heights Dr.
Cedar Falls, Iowa 50613
Cell: 319-240-4337 or 240-3034
Toll Free: 877-292-2121
Office: 319-277-2121 ext 204
Fax: 319-277-2127
Email: Celia@CF4Sale.com
Email: Elke@cfu.net
Are you interested in buying or selling real estate in Waterloo or Cedar Falls, Iowa? If so, you've come to the right place! My name is Celia Simmer, and for the last 15 years, I've specialized in helping my clients find the perfect home or commercial space in beautiful Black Hawk County. Elke Gerdes, my daughter, and I would like you to allow us to be your guides.

Want to invest in housing for your University of Northern Iowa student? Need school information from this area? As a life-long residents and graduates of UNI, we know the town and its market. We've worked with buyers in Waterloo and Cedar Falls; Denver, Dike, Hudson, and Wavery.

Introducing people who are relocating to this area is easy for us, having been raised here ourselves and raising our children here. We take great pride in providing top quality real estate service and first class performance.

www.CedarFalls4Sale.com is brought to you by Celia Simmer & Elke Simmer Gerdes, real estate for
Cedar Falls and Waterloo, Iowa

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