Remove Closing costs Remove Loans Remove Pre-qualification Remove Title search
article thumbnail

Buy Your First Home in Massachusetts: 15 Questions Answered

Realty Biz

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Online mortgage calculators can provide a rough estimate, but getting pre-approved by a lender will give you a more accurate figure. What Is a Mortgage Pre-Approval? What Are Closing Costs?

article thumbnail

15 Homebuying Terms You Should Know When Searching for Your New Home

RIS Media

Closing : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. Mortgage interest rate : The price of borrowing money.

Insiders

Sign Up for our Newsletter

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

article thumbnail

17 Home Closing Delays and How You Can Avoid Them

HomeLight

These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. How it can delay closing. Dodge move.

Closing 113
article thumbnail

How to Buy a House in the Bay Area: 14 Steps to Close the Sale

HomeLight

With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well.

Closing 92
article thumbnail

This Checklist and Timeline Is Your GPS for Buying a House

HomeLight

Your debts include student loans, car loans, child support payments, and credit card bills, plus your mortgage. Paying off some loans before you start house-hunting can help you to qualify for a bigger home loan. Be ready to pay closing costs, which could be up to 5% of the price of the house. .

article thumbnail

How to Buy a House in San Diego: 14 Steps to Close the Sale

HomeLight

With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

Closing 97
article thumbnail

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

The Close

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.