Crystal Webster
913 908-9801

Crystal is the friendliest, most helpful agent that we could have asked for. We felt that Crystal broke down the client-agent barrier in a way that was comfortable, kind and HELPFUL! We can't wait to recommend her to other home-buying family member and friends!

~ Dave W.

Frequently Asked Questions

Click on the question to get the answer. Or, add your question below and we’ll get it answered for you!

I’m a first time home buyer, where do I start?

Great Question! There are lots of questions you need to answer before you actually start the home buying process but probably the mos important is ‘How much will a bank loan me?’ The best way to answer that question is to get pre-approved for a mortgage. (This will also be needed in order to make an offer on the home you want.) Head over to the Resources area of our website for great lenders that will work with you to get that pre-approval.

Once you know what the bank will loan you you’ll want to think about how that fits into your monthly budget. How much do you actually want to spend on your home every month? And remember, what you spend monthly is not just the mortgage payment: it also includes utilities, insurance, property taxes, maintenance, etc.

What’s all in my mortgage payment? What’s P.I.T.I. mean?

P.I.T.I. stands for Principle, Interest, Taxes, and Insurance. Sometimes you’ll also hear people call it P.I.T.I.I. for Principle, Interest, Taxes, Insurance, and (more) Insurance).

Principle and interest make up the largest portion of your monthly payment. The principle amount actually goes to pay down your loan balance. The interest goes to the bank that holds your loan as payment for allowing you borrow money from them. When you get a fixed interest loan the sum of the principle and interest can never change (just the allocation between the 2 does). So that over time you pay more towards the principle of your loan and less goes to pay interest.

Just like you pay property taxes on your car you also have to pay property taxes on your home; and that amount is normally a few thousand dollars a year. The bank helps you by taking the amount you’ll owe at the end of the year and dividing it by 12 (12 months in a year, get it?) and makes you pay that much each month. Then, at the end of the year when taxes are due the bank pays the taxes for you.

Insurance works the same way. You need to have insurance on your home (in case it burns down or hit by a tornado, etc). That is due yearly and usually around a thousand dollars. The bank breaks up that payment into 12 and collects that from you every month. At the end of the year they pay your insurance for you!

The second insurance is if you need private mortgage insurance on your – that’s if you have less then 20% equity in your home. An amount is added every month until you have 20% equity in your home (or forever, depending on the type of loan you get) to help the bank recoup their losses should you decide to stop making your mortgage payments and get foreclosed on.

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December 2017
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