HomeLight

JANUARY 27, 2021

Home financing. Your mortgage payment is more than just the cost of the principal and interest on your loan. Make sure you budget for the entirety of your monthly mortgage payment, not just your principal and interest! Whatever your needs, make sure you find the right agent with the personality and work style to meet them.

Closing costs 119

Closing costs Loans Inspection Earnest money deposit 119

HomeLight

JUNE 30, 2022

Line up financing. It’s important to line up financing well in advance of when you want to start making offers. Be sure to do your research to find a reputable lender who can guide you through financing your first home purchase. Transaction details: the purchase agreement and a copy of your earnest money deposit.

Purchase and sale agreement 68

Purchase and sale agreement Inspection Earnest money deposit Closing costs 68

Redfin

AUGUST 3, 2022

Here are the steps to determine how much house you can afford: First, determine your debt to income ratio (DTI). This is your monthly expenses versus your cash intake or the bills you pay divided by your gross monthly income. Debts include recurring bills, such as car payments, daycare payments, and student loans.

Pre-approval 75

Pre-approval Purchase and sale agreement Title Debt-to-income ratio 75

The Close

DECEMBER 29, 2022

How else would you and your clients understand how much is being paid in principal and interest over the years? This works in your client’s favor if they are collecting on investments, but against them when applied to debt. A short-term loan that covers the cost to build a property until the owner can secure long-term financing.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97