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Comparable Sales
Your real estate agent can give you a ballpark figure by showing you comparable listings. If you are working with a realtor, ... |
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Comparing Loan Terms
First, devise a checklist for the information from each lending institution. You should include the company's name and basic ... |
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Contingency Clauses
Contingency clauses should satisfy the concerns of both the buyer and seller. Buyers also can protect themselves by inserting ... |
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Credit Bureau Scores
A credit bureau score is a number, based upon your credit history that represents the possibility that you will be unable to ... |
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Credit History
There are three major credit reporting companies: Equifax, Experian, and Trans Union. Obtaining your credit report is as easy ... |
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Deciding on a Community
Select a community that will allow you to best live your daily life. Many people choose communities based on schools. Do you ... |
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Department Of Housing And Urban Development
Also known as HUD, the U.S. Department of Housing and Urban Development was established in 1965 to develop national policies ... |
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Direct Buy Escrow
If you buy a house directly from a seller, without brokers, have an attorney keep your deposit in and escrow account. Too ... |
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Discount Points
Discount points allow you to lower your interest rate. They are essentially prepaid interest, with each point equaling 1% of ... |
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Down Payment
There are mortgage options now available that only require a down payment of 5% or less of the purchase price. But the larger ... |
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Earnest Money
Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to ... |
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Easement Access
If the sewer line or drain line for a home you are buying crosses another property, make sure there is a recorded easement ... |
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Energy Efficient Mortgage
The Energy Efficient Mortgage (EEM) allows a homebuyer to save future money on utility bills. This is done by financing the ... |
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Escrow Account
Established by your lender, an escrow account is a place to set aside a portion of your monthly mortgage payment to cover ... |
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Excluded from Neighborhoods
Immediately contact the U.S. Department of Housing and Urban Development (HUD) if you ever feel excluded from a neighborhood ... |
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Extra Inspections
If your home inspector discovers a serious problem, another more specific inspection may be recommended. It's a good idea to ... |
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Federal Housing Administration
Now an agency within HUD, the Federal Housing Administration was established in 1934 to advance opportunities for Americans to ... |
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FHA Timing
If you're refinancing an FHA loan, try to schedule the closing for as close to the end of the month as possible. Unlike ... |
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Final Walk-Through
This will likely be the first opportunity to examine the house without furniture, giving you a clear view of everything. Check ... |
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First-Time Homebuyers
Lenders now offer several affordable mortgage options, which can help first-time homebuyers, overcome obstacles that made ... |
