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First American Home Buyers Protection Corporation
Home buyers benefit:
- Coverage for unexpected repair or replacement costs of many of your home's
major systems and appliances.
- Convenience with access to our network of local certified contractors through our
service representatives available 24 hours a day, 365 days per year.
- Budget protection by only paying a nominal service fee per trade call in most
situations. Home sellers benefit:
- Competitive edge for a faster sale.
- Potential additional negotiating power to sell at a higher price.
- Reduce after-sale liability. Did you know?
- First American Home Warranty is rated "A" (Excellent) by A.M Best.
- A typical First American contract holder averages approximately two claims per
contract per year.
- We responded to over 800,000 service requests in 2004.
- We saved our contract holders $88 million on their covered systems and
appliances during 2004.*
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First Time Buyers >Good Faith Estimates
Several years ago the U.S. Congress tried to protect consumers from a few unscrupulous lenders by requiring all lenders to calculate and disclose the annual percentage rate (APR) you pay on your mortgage loan. But most homebuyers will learn more by directing their attention to the Good Faith Estimate of Settlement Costs (GFE). Although Congress meant well, in practice the APR is not helpful and may be confusing.
If you are looking for a good way to understand your costs of borrowing and/or to compare one lender's costs to another, the GFE is your best bet. Get your lender(s) to provide a written GFE before you commit your mortgage business. When reviewing a GFE, keep in mind that the lender actually controls only a certain portion of the disclosed costs. Other parties typically control costs of appraisal, settlement, title insurance, recording fees and taxes, survey, and the "prepaid" expenses of homeowner's insurance, mortgage insurance, real estate taxes, etc. Review these origination fees, discount points, etc. and you will have the ability to understand the full costs of your proposed mortgage loan.
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| Q |
What is considered one of the slimmest buildings ever designed?
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| A |
The Carnegie Hall Tower, designed by Cesar Pelli, is only 50 feet wide and 60 stories high. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
