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Short Sale Mortgage Loans: What Borrowers Need To Know

HomeLight

Even a brand-new home is often in need of at least one minor repair before closing! In general, acquiring a loan for a short sale home is no different than getting a loan for a standard transaction. You can even get an FHA loan for a short sale , but be aware they have guidelines around this type of sale.

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Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

Loan origination fee, loan discount, appraisal fee, credit report, lender’s inspection fee, mortgage broker fee, tax service fee, flood certification fee, flood monitoring, etc. May vary widely between lenders and are not dependent on the cost of the loan. Here’s how you can explain it to your buyers: 1.

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What is Covered Under a Builder Warranty in New Construction Homes?

Realty Biz

When purchasing a brand new construction home, they are often covered by a warranty for about the first one or two years of ownership. All VA and FHA loans require that a brand new construction home carry a warranty before the loan will be approved. What is Covered in a New Construction Warranty?

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Assumable Mortgages: What to Know Before Taking Over a Home Loan

Redfin

When it comes to buying a home, most buyers are familiar with securing a brand-new mortgage. Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. But what about stepping into someone elses shoes?

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Educate your real estate clients to make a connection that lasts

Easy Agent Pro

Budgeting, credit scores, how to prepare for the buying/selling process, down payment assistance programs, appraisals, inspections and VA/FHA loan information are just a few. In turn, you receive massive market exposure, establish yourself as an expert and achieve brand recognition for your real estate client education efforts.

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What to Know About Buying a House: 11 Things to Know Upfront

HomeLight

They fell in love with a home and rushed into buying, heedless of whether it was outside of their price range or maybe ignoring issues found during the inspection. If you expect to pay between 3% (the minimum for a down payment) to 6%, then some of your options include an FHA loan, a Fannie Mae HomeReady loan, or a conventional loan.

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Buying a House Online? How to Get it Done in 15 Steps

HomeLight

Or that FHA loan limits vary widely, too? Buyers who are moving from one area of the country to another could be shocked at the difference in prices and loan limits. When it’s time for the inspection, they’ll reassure you that a damp basement is normal for the town, or tell you to get it checked out by a professional.