Peet Law Group
Fred Peet
June 2022
Real
Peet Law Group Representing buyers and sellers throughout Vermont


Is a Bigger Down Payment Always Better?
When you’re buying something major with a loan, namely a house, you likely need a down payment. A down payment covers part of the purchase price.
      Your down payment plays a role in whether you are approved for a mortgage at all. Down payments also impact your interest rate and the borrowing costs throughout the life of your loan.
      Your down payment usually comes from your savings. The down payment should be a percentage of the total purchase price, and then you pay off the rest of the loan by making installment payments.
      If you’re buying a house for $200,000 and want to make a 20% down payment, it’s $40,000.
MORTGAGE RATES
U.S. averages as of June 2022:


30 yr. fixed: 5.1%
15 yr. fixed: 4.31%
5/1 yr. adj: 4.2%






You would pay that when you close on your home loan. Then, you’re actually only borrowing $160,000.
      There are arguments to be made both for and against

Comparing a Pre-Approval and Pre-Underwriting
     When you’re shopping for a new home, there are a lot of steps in what can be an overwhelming and frustrating process.
      Much of that frustration comes from getting mortgage financing.
      Before you start to look for a home, you might decide to get pre-qualified or pre-approved. There’s also the option to go through pre-underwriting. When the housing market remains competitive and bidding wars are common, there are some benefits to pre-underwriting, which we detail below.
      What is Pre-Qualification? Pre-qualifying for a loan is a single step on your way to a pre-approval. Pre-qualifying is part of a process when you work with a lender, and they decide the type of guarantee they will



How to Stock Your Airbnb
     When you own a short-term rental, your ultimate goal is to increase the occupancy as much as possible, meaning more revenue. You need to build a strong reputation and have great guest reviews to do this.
      Impeccable guest reviews mean your listing is honest and transparent, so they know what to expect. You also want to go the extra mile to make their experience great.
      While an Airbnb experience is different from staying in a hotel, you still want your guests to have what they need. There’s no requirement that you have to stock a short-term rental with hotel-like amenities and supplies, but not doing so could be disappointing, and your reviews and ratings could take a hit.
      When you supply what your guests needs, it’s an upfront cost, but often not a major one, and it can easily pay for itself and then some.
      So what’s most important to the

Peet Law Group
55 Patchen Road
South Burlington, VT 05403

3533 Woodstock Road
White River Junction, VT 05001

800-683-3903 (toll free)
office@peetlaw.com





Meet Our Real Estate Law Team

  Attorneys:
     Fred V. Peet
     Richard C. Maxson
     Christopher M. Perra
     Kevin J. Shortell
     Paula LeBlanc
     William Flender
     Eric Derry

Paralegals/Legal Assistants:
     Doreen Guthrie
     Sherry Morin Barton
     Amy Benway
     David MacPeek
     Shawn A. Nelson
     Karen Eddy
     Elise Martin
     Marcy Brigham
     Sheri Slack
     Linnea Oosterman
     Samantha Kittredge
     Kristy Farnham
     Carol Davis
     Kate Miller
     Corrine Bergeron-Douglas
     Katherine Peranio

Closing Coordinators:
     Katy Baker   
     Laura Martin



  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles
May Real Estate Roundup
Debt Avalanche vs. Snowball Method
FHA vs. Conventional Loan: Which is Right for You?
What is a Hard Money Loan?
What Should You Know If You Inherit a House?


Fred Peet
E-mail: fpeet@peetlaw.com
Website: http://www.peetlaw.com
802-860-4767 (phone)
800-683-3903 (toll free)
802-860-2822 (fax)
Peet Law Group
(802) 860-4767
55 Patchen Road South
Burlington, VT 05403


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