HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. And with most loans, you can drop mortgage insurance when you reach 20% equity. Know your loan types.

Closing costs 117

Closing costs Loans Inspection Earnest money deposit 117

HomeLight

AUGUST 31, 2021

What is an excess deposit, and who will receive the funds listed on that line? In short, the excess deposit line represents any funds remaining from the buyer’s earnest money deposit after accounting for real estate agent commission fees. Excess Deposit. Principal Balance ($ amount). Seller Credit.

Earnest money deposit 101

Earnest money deposit Title Closing Loans 101

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? It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. Earnest money deposit. Home equity conversion mortgage.

Purchase and sale agreement 97

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