Remove Banks Remove Debt-to-income ratio Remove Earnest money deposit Remove Fixed-rate mortgage
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51 Brilliant Real Estate Tips for Buyers to Edge Past the Competition

HomeLight

A lender with a local presence will likely know the ins and outs of your market better than a big bank, and they’ll have local relationships that will make closing your deal easier. Sure, you might have to pay a slightly higher rate to go with a local mortgage company, but you’ll also typically get more personalized service.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Debt-to-income ratio (DTI).