Remove Closing costs Remove Construction Remove Design Remove Pre-approval
article thumbnail

7 Things Sellers Need to Know About FHA Loans When Fielding Offers

HomeLight

As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. An official FHA loan appraiser must conduct the appraisal, following HUD’s designated guidelines. of all mortgage originations.

FHA loan 109
article thumbnail

How Does Canada’s Home Ownership Rate Look?

Toronto Realty Blog

With an increasing population, we might expect that the number of new dwellings constructed is not in line with the number of new entrants to the market. Each estate is designed to be self-contained with amenities within walking distance from each other. HDB blocks are also being built with standardized construction systems.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

42 Steps to Homeownership: The Resourceful Buyer’s Go-To Guide

HomeLight

Some savings you can use toward a down payment and closing costs? The higher your score, the more likely you’ll be approved for a mortgage, and the better rate you’ll be offered. Estimate your down payment and closing costs. As for closing costs, they can add up to between 2% and 5% of the loan amount.

article thumbnail

Selling a Home at Auction: Pros, Cons, and How to Get Started

HomeLight

Mike McClung, a home construction expert and CEO of Integrity Cash Home Buyers in Norfolk, Virginia, notes that many of the homes that go to auction are foreclosed properties. Reduction of long-term carrying costs, such as property taxes and ongoing maintenance. Your home will be visible to pre-qualified, serious buyers.

article thumbnail

Starting from Scratch: What to Do When Your Real Estate Listing Agreement Expires

HomeLight

“We’ve fallen short on providing constructive feedback and working with the seller to figure out the disconnect.” “When selling to a cash buyer or iBuyer, there are fewer closing costs involved, so the hypothetical net proceeds may end up being more favorable than you expect,” says Poe.

article thumbnail

Renting vs Buying in Austin, TX: Which is Right for You?

Redfin

You’ll need to factor other costs into the equation such as closing costs , home inspection fees , and appraisals , when determining how much house you can afford. Reach out to a few mortgage lenders to get a pre-approval so you can gain insight into your financing options and other costs you may need to consider.

article thumbnail

Welcome to The Pass: Your Guide to Buying a House in El Paso

HomeLight

These numbers will help immensely as you start the process of getting pre-approved for a mortgage. There are also additional expenses to consider, including taxes, home insurance, home maintenance, and inspection costs. The neighborhood has existed since the late 1890s and was designated a historic district in the 1980s.