Toronto Realty Blog

MARCH 28, 2024

Those who know me – at least, through TRB, are fully aware of my thoughts on pre-construction condos, the pre-construction condo industry, and the way that pre-construction condos are sold and eventually built. Your “Buying Pre-Construction Condos and CAKE! Time flies when you’re having fun, right?

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Pre-qualification Marketing Construction Development 74

Realty Biz

MARCH 30, 2023

Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process. Refinancing works by taking out a new loan and using the funds to pay off existing mortgage and home equity loans.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

RIS Media

FEBRUARY 16, 2022

” “With such sharp increases in home prices over the last year, we’re seeing tons of demand come from current homeowners who’ve decided to tap into their home equity to move up into their dream home,” said Erik Throm, an agent with Fast Real Estate in San Francisco.

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Pre-qualification Equity Agents As-is 98

Marco Santarelli

OCTOBER 6, 2023

Buying a house with no money down is possible, but it requires a good credit score. To buy a house with no money down, you typically need a credit score of at least 620. However, certain programs like FHA loans and VA loans allow for lower credit scores. It's important to note that these are just minimum credit scores. Key Features: 1.

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VA loan FHA loan Pre-qualification Debt-to-income ratio 52

HomeLight

OCTOBER 9, 2023

A Top Agent Can Help You Find A House You Can Afford We analyze millions of home sales to find buyer’s agents who will show you the right home at the right price. Our service is 100% free, with no catch. Agents don’t pay us to be listed, so you get the best match. It might not happen for a year or two, but you should put a plan together.

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Pre-qualification Pre-approval Agents Loans 88

Realty Biz

SEPTEMBER 30, 2023

They can help you navigate the mortgage process and identify suitable options based on your financial situation and provide you with a pre-approval. Longer time to build equity: With a higher interest rate and potentially larger down payment, it may take longer for you to build equity in your home.

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Finance Debt-to-income ratio FHA loan Mortgages 97

Redfin

JULY 11, 2023

Government-backed loans, such as FHA or VA loans, provide more flexible qualification criteria and specific benefits. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. It acts as a financial agreement between the borrower and the lender, where the property serves as collateral.

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Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

RIS Media

SEPTEMBER 21, 2020

percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity. Pre-approval : A thorough assessment of a borrower’s income, assets and other data to determine a loan amount they would qualify for. . The document includes loan terms, monthly payment and closing costs.

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Pre-approval Pre-qualification Title search Inspection 59

HomeLight

DECEMBER 6, 2021

You will just need to prepare for some additional complexities, such as: Taxes: It’s not a guarantee that you’ll owe taxes, but you may have to report a “gift of equity” that exceeds a certain amount to the IRS. You can easily find a top agent with relevant qualifications for the job through HomeLight.

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Purchase and sale agreement Marketing Equity Inspection 105

HomeLight

JULY 30, 2021

Can you really rent-to-own a house like you would a refrigerator? Is it a viable option for those buyers who might need a little extra time to save or build their credit? Just how does all of this work, and can it help you make your own dreams of homeownership come true? Let’s take a look at everything you need to know about rent-to-own homes.

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Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

The Close

DECEMBER 29, 2022

And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. The catch is that they must sell one property and buy a similar one within a set time frame. Active contingent.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

OCTOBER 5, 2020

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. You go out of your way sometimes to drive past a certain house you’re in love with. It has everything you’ve ever wanted. Short sales are rarer in the housing market nowadays. What’s a short sale?

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Short sale Sales Pre-approval Pre-qualification 73

Redfin

APRIL 7, 2023

Get pre-approved for a mortgage My advice to first-time homebuyers is to find a good loan officer and get pre-approved, fully underwritten approval is best. – Robert Cenzer | Redfin Agent Don’t jump in and start house hunting until you have been pre-approved by your local bank or lender.

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Pre-approval Agents Pre-qualification Debt-to-income ratio 58

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Source: (Jeremy Yap / Unsplash). What is HUD? Johnson in 1965.

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Pre-approval Pre-qualification FHA loan Inspection 89

Redfin

JULY 30, 2021

However, you may spend more to sell your home if you make pre-listing repairs and upgrades, hire a stager, or professional cleaning service. . Learn how selling to an iBuyer differs from the traditional home sale process and when you should consider selling your home for a direct cash offer. What is an iBuyer?

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Pre-qualification Closing costs Equity Sales 63

HomeLight

AUGUST 16, 2021

“One of the best lessons I have learned over the years from other investors is that you don’t find deals, you make them,” explains Mark Motes, a real estate investor at Mark Buys Houses , who buys fixer-upper properties in the Birmingham, Alabama, market with a team of local experts. There is never a perfect investment situation.

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Banks Pre-qualification Investor Short sale 103

HomeLight

JANUARY 4, 2022

It wasn’t long ago that the decision to sell your house for cash was associated with a neglected or foreclosed property whose value had plummeted, as an investor swooped in to snatch it up for a bargain. A 2022 market survey conducted by HomeLight echoes that cash is here to stay. Sell Your House for Cash: Request an Offer Today. Request Offer.

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Investor Finance Inspection Sales 98

HomeLight

AUGUST 16, 2021

Are you open to doing some sweat equity in the beginning?” Painting walls and replacing floors can add instant equity to your home — but these jobs require hard work, and they’re not for the buyer who wants a flawless, move-in ready abode. ”), then you may need to back up a step or five. How do you know where to begin?

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Closing costs Purchase and sale agreement Inspection Loans 103

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. He explains that owning a house is the most constructive and easiest way to build wealth, and even if you pay more now, you are still building equity, and will likely enjoy significant tax benefits.

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HomeLight

APRIL 30, 2022

Type in your address on the site to estimate your home’s value, track equity, calculate potential home sale profit, and view local market trends. and the questions about how to even find a house (do you have to wait until it’s been listed on the MLS, or is there a better way?) — you’re already overwhelmed.

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Closing MLS Pre-qualification Due diligence 82

Kyle Handy

FEBRUARY 24, 2023

As a real estate agent, team leader, or broker, you always look for ways to improve your processes and increase your bottom line. A customer relationship management (CRM) is a critical aspect of any business, and having the right CRM software can make a huge difference in your success. This is where Chime comes in. What is Chime CRM?

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Brokerage Pre-qualification Sales Technology 52

Toronto Realty Blog

MARCH 14, 2022

Part of me wanted to play off the old, “what came first, the chicken or the egg?” ” riddle, but the more I thought about it, the more I realized the analogy isn’t that apt. Anybody read this in a previous blog post? It was an odd experience even though it shouldn’t have been.

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Pre-qualification Sales Closing Renovation 77

HomeLight

APRIL 11, 2022

A property’s appraised value also indicates how much you’ll pay in real estate taxes — and gives you an idea of how any improvements you make can add to your home’s equity. You might have heard that the home appraisal process is nerve-racking for sellers, who are eager to see what financial value a professional appraiser places on their home.

Loans 98

Loans Pre-approval Agents Inspection 98

HomeLight

AUGUST 31, 2020

And what that pre-qualification entails is asking a series of detailed questions to not only gather as much data and information as I can as far as the who, what, where, and why, you know, somebody’s motivation, what they’re looking to accomplish, timeframes, things of that nature. This is the first of a two-part series.

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Pre-qualification Agents Due diligence As-is 92

HomeLight

DECEMBER 30, 2021

Taking on a mortgage is no casual agreement — which is why the loan qualification process is so stringent — but you’ll nearly always have options. When you signed on the dotted line for your 30-year mortgage , it probably felt equal parts daunting and surreal. Hey, you never know!). What do financial experts think about early mortgage payoff?

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Mortgages Principal Loans Purchase and sale agreement 82

HomeLight

MAY 31, 2021

The minimum down payment can be as low as 3%, but that is contingent on the buyer’s qualifications. When it comes to house-hunting , finding your dream home is only part of the equation. Source: (Gonzalo Facello / Unsplash). How much mortgage do I qualify for? What is the best way to utilize my down payment money and maximize my buying power?

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Mortgages Debt-to-income ratio Loans Closing costs 57

Toronto Realty Blog

MARCH 25, 2022

The group also wants first-time homebuyers to have access to mortgage terms of up to 30 years for insured mortgages and recommended making mortgage qualification stress tests consistent for both insured and uninsured mortgages, setting the stress test level to two percentage points above the contract rate. “To Oh, of course not!

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Purchase and sale agreement Construction Pre-approval Development 78

HomeLight

MAY 17, 2021

In this week’s episode of The Walkthrough, agent and coach Aaron Novello shares how pre-qualifying sellers has helped his team win 80% of its listing appointments. Inventory is at record lows across the country. Just like buyers are competing for scarce homes that they want to buy, agents are competing for scarce listings.

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Pre-qualification Agents As-is Due diligence 58

HomeLight

DECEMBER 6, 2022

A house is typically a person’s largest financial asset, and the decision to sell solo is often understandably driven by a desire to save on commission fees and pocket more equity from a hard-earned investment. In recent years, the hot New Jersey real estate market and a steep rise in equity added extra incentive to maximize profits.

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Purchase and sale agreement MLS Pre-approval Agents 73