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How to Determine if Rent-to-Own or a Mortgage is Best for You

Realty Biz

Rent-to-own is a contract between the homeowner and the buyer that sets aside a certain percentage of rent towards an agreed-upon home purchase price. Under these agreements, the buyer pays a slightly higher-than-average rental price as well as a one-time option fee between 3% and 7% of the total home price. Mortgage Pros and Cons.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property.

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What Does Clear to Close Mean, And How Much Longer Before I’m a Homeowner?

HomeLight

Bankruptcy documents. What happens before the clear to close? According to Ellie Mae’s Origination Insight Report for 2019 , the average closing takes about 47 days from start to finish. During those weeks prior to getting the green light and being clear to close, there are quite a few things that need to happen first.

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6 of the Top We Buy Houses for Cash Companies in Lakeland, Florida

HomeLight

Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer within a week and close in as little as 10 days. They usually present a take-it-or-leave-it sale price. If you accept the offer, you’ll both sign a sales contract.

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Ready to Apply For a Loan? You’ll Need This List of Mortgage Documents

HomeLight

If you have a job where you get a predictable salary, and you don’t have any blemishes on your credit, the list of mortgage documents is relatively short, according to Richie Helali, mortgage sales leader at HomeLight Home Loans. Bankruptcy discharge papers. Proof of assets, such as bank statements or investment account statements.

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6 of the Top We Buy Houses for Cash Companies in Atlanta

HomeLight

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Atlanta. Get an offer in as few as 48 hours and close in as little as 10 days. After one showing, sellers get a no-obligation offer and can choose their closing date. Simple Sale (a HomeLight platform).

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7 of the Top We Buy Houses for Cash Companies in Chicago

HomeLight

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Chicago. Get an offer in as few as 48 hours and close in as little as 10 days. They also promise a fast, easy, and transparent selling process, with closing in as little as 24 hours. Simple Sale (a HomeLight platform).