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Low-Ball Offers
A low-ball offer is a term used to describe an offer on a house that is substantially less than the asking price. While any ... |
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Making the Offer
Your real estate agent will assist you in making an offer, which will include the following information: Complete legal ... |
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Market Measure
The best measure of market conditions is not the prices sellers are asking, but the difference (if any) between asking prices ... |
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Maximum Loan Amount
The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and ... |
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Mortgage
Generally speaking, a mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a lien (a legal claim) on ... |
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Mortgage Expiration
If you lock in a mortgage rate, make sure the expiration date leaves enough time to complete the real estate closing. The ... |
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Mortgage Factors
The amount of the down payment, the size of the mortgage loan, the interest rate, the length of the repayment term and payment ... |
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Mortgage Insurance
Mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home ... |
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Mortgage Insurance Coverage
Like home or auto insurance, mortgage insurance requires payment of a premium, is for protection against loss, and is used in ... |
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Mortgage Insurance Need
You need mortgage insurance only if you plan to make a down payment of less than 20% of the purchase price of the home. The ... |
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Mortgage Parts
The monthly mortgage payment mainly pays off principal and interest. But most lenders also include local real estate taxes, ... |
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Neighborhood Hunting
Narrowing your search for the perfect home can be a little easier if you start with a few neighborhoods and work your way out. ... |
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New Buyer Loans
Conventional mortgage loans usually can't be assumed by new buyers, but FHA and VA loans can be. The borrower must qualify for ... |
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New Locks
When buying a house, be sure to change the locks immediately. There is no telling how many people had access to the previous ... |
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Odd Rooms
Funky space? Think twice: When house-hunting, look closely at room shapes as well as sizes. Oddly shaped spaces can be ... |
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Old Home vs New
There isn't a definitive answer to this question. You should look at each home for its individual characteristics. Generally, ... |
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Pool Inspection
If you are buying a house that includes a swimming pool, plan to have the pool inspected separately by a pool specialist, not ... |
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Pre-Qualifying vs Pre-Approval
Pre-qualification is an informal way to see how much you may be able to borrow. You can be "pre-qualified" over the phone with ... |
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Property Tax Liabiliy
The total amount of the previous year's property taxes is usually included in the listing information. If it's not, ask the ... |
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Radon Test Device Placement
Radon testing device(s) should be placed in the lowest level of the home suitable for occupancy. This means testing in the ... |
