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Blog
News You Can Use Vol 3
Looking back over the past year, these are some of the highlights of 2018 for OPT… Donating over $10,000 to local community organizations and causes such as the PA and Sequim Food Banks, scholarship funds for local high school kids, Operation Uplift, The Trey Green...
News You Can Use
November is a month where we take time to appreciate what we have and express our thanks to all of those who are serving or have served in our nation’s military. We are the land of the free because of the sacrifices and service of our Veterans and their families, we...
What Is Equity?
Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market…
What Are Real Estate Commissions?
Like the video says – real estate agents aren’t paid by the hour! They’re paid a percentage of the purchase price in a successful real estate transaction…
What Is “Prime”?
The Prime Lending Rate – sometimes just called “Prime” - is the interest rate that banks charge each other for overnight loans. Some consumer rates – like ARMs – are set in relation to Prime…
What Are Discount Points?
Discount points allow you to lower your interest rate. While this video simplifies things to help you remember, “points” are essentially prepaid interest with each point equaling 1% of the total loan amount…
What Is An Escrow Account? Do I Need One?
As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance…
What Steps Need To Be Taken To Secure A Loan?
You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application…
What Is A Mortgage?
The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate…
What Is Loan To Value (LTV) And How Does It Affect The Size Of My Loan?
While this video simplifies things to help you remember, the loan to value ratio is the amount of money you borrow compared with the price or appraised value of the home you are purchasing…
