article thumbnail

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

HomeLight

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

Closing 101
article thumbnail

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

HomeLight

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5% Do they need to do a rent-back on the house, or do they want a quick close?

Closing 106
article thumbnail

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

The Close

Earnest money deposit. Also known as a “good faith deposit,” it’s the amount of money a buyer puts in escrow to show their commitment to purchase a property. Jumbo loans generally require stricter qualifications, higher credit scores, and higher income and/or cash reserves. Loan officer.