HomeLight

JANUARY 17, 2024

Buying a house is a major milestone, but what happens when you have second thoughts, or you can’t fulfill the agreement you signed? Backing out of a home purchase isn’t a decision made lightly, yet it’s a scenario that buyers might face. But what’s the real meaning of backing out of a home purchase?

Purchase and sale agreement 103

Purchase and sale agreement Debt-to-income ratio Title search Finance 103

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. With that said, it’s recommended to work with a knowledgeable, local mortgage broker.

Closing 62

Closing Title search Purchase and sale agreement Title 62

HomeLight

AUGUST 16, 2021

The mortgage loan process is pretty messy! Follow the list, and you’ll save yourself a lot of headaches and make the mortgage loan process a lot smoother. Proof of income. Businesses have expenses, which eat into how much you take home and have available to spend on a mortgage. Source: (Mangostar / ShutterStock).

Loans 104

Loans Mortgages Bankruptcy Purchase and sale agreement 104

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death). Problem: You lost your job.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

MARCH 17, 2021

The planning stage (1 to 3 years before purchase). It takes a lot of planning and preparation, possibly even some soul-searching, to decide what’s the right move in your situation. Whether you have a stable income to cover mortgage costs. Source: (Shopify Partners / Burst). Figure out your budget.

Pre-approval 98

Pre-approval Purchase and sale agreement Title Closing 98

Redfin

AUGUST 3, 2022

Homeownership offers stability and a sense of security and safety, but the process of making the biggest purchase of your life can seem overwhelming. Determining how much house you can afford is the first step in the home buying checklist – setting a realistic budget will relieve stress in the long run and help narrow your home search.

Pre-approval 73

Pre-approval Purchase and sale agreement Title Debt-to-income ratio 73

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Active contingent. Amortization.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98