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Terre Haute Area Association of REALTORS
Friday, Nov 7, 2008 @03:41pm EST
Terre Haute Area Association of REALTORS®, Inc.
1616 South 13th Street
Terre Haute, IN 47802
Phone: (812) 234-8732
Fax: (812) 238-2213
E-mail: thaar@thaar.com
The Terre Haute Area Association of REALTORS®, Inc. (THAAR) is committed to providing resources to members to encourage and enhance ethical behavior compatible with professional service and integrity, to promote functioning in ways that support effectiveness and efficiency; therefore, allowing the organization and its members to earn the respect and trust of the public.
THAAR is a member of the National Association of REALTORS (NAR).
The NAR is the largest trade association with 1.3 million members working for America’s property owners.
What is a Terre Haute Area Association REALTOR®?
A THAAR member is a real estate agent that has become a member of the National Association of REALTORS® (NAR).
The term REALTOR® is a registered membership mark that identifies a real estate professional who is a member of the National Association of REALTORS®. Only real estate licensees who are members of the NAR are properly titled REALTORS®. These members are committed to treat all parties in a transaction honestly and follow a strict Code of Ethics.
Why use a Terre Haute Area Association REALTOR®?
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. This is how a REALTOR® can help:
• Determine your buying power
• Provide sources to assist you in your home search
• Assist in selection process; providing local community information
• Help you negotiate; advise recommended or required inspections
• Provide you understanding of different financing options
• Ability to know when, where and how to advertise your property
• Guide you through closing process for smooth transaction
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Local Stocks
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Financial Focus
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Types of Auto Loans
There are two types of auto loans: long-term and short-term.
Lending companies usually offer long-term loans only for new cars. A long-term loan generally lasts for a period of 36, 48 or 60 months. Loans for used vehicles are usually only available for shorter terms of 24 or 36 months.
Longer term plans carry a smaller monthly payment; however, you will pay more over the life of the loan. A three-year $15,000 loan that is lengthened to four years will decrease your monthly payment from $450 to $377. However, your interest rate will increase from 5 percent to 9.5 percent. The total amount you pay over the life of the loan would increase from $16,200 to $18,096. Our Auto Loan Early buyoff calculator helps you find out how much interest can you save by increasing your monthly payment (shortening your loan term).One potential pitfall of a long-term loan is that the car's value can drop below the loan principal amount if the vehicle is destroyed or stolen during the first year or two.
Short term plans will mean higher monthly payments, but you will be charged less interest and will pay less overall.
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Types of Mortgage
Fixed-rate and adjustable rate mortgages are the two most basic kinds of mortgage loans. You can choose a mortgage with the same interest rate forever, or one that changes.
Fixed-rate Mortgages
This is a very stable kind of mortgage. A fixed rate mortgage keeps the same interest rate for the life of the loan. For most people, especially first time homebuyers, this is the best option because you pay the same monthly principal and interest rate.
Adjustable Rate Mortgages (ARM)
Interest rates for adjustable rate mortgages (ARM) can change over time. Some people like these because you can get a lower interest rate and monthly payment in the beginning of your mortgage. Every ARM starts with an adjustment period, a specific amount of time when your interest rate stays the same. After this, your interest can go up or down, and can only go as high as the lifetime cap.
There are many combinations of fixed-rate and adjustable rate mortgages, so be sure to consult your homeownership counselor for help.