The Close

FEBRUARY 6, 2024

They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. That may sound like a lot to add, but when your buyers roll it into their mortgage, it should not change their monthly payment so much that it prevents them from qualifying for their loan.

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HomeLight

APRIL 19, 2021

Sellers appreciate cash offers because of their faster timelines, as there’s no need to wait for a mortgage loan. A lot of times, it’s not unusual for a homebuyer to submit an offer, and they’re being asked to wire over 10% within a week” for an earnest money deposit. Things move really quickly here,” says Chou. “A

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HomeLight

MARCH 2, 2023

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. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. Loans are between 3%-3.5%

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Closing Earnest money deposit Sales Inspection 91

HomeLight

JUNE 30, 2021

A financing contingency — which says that if your lender can’t close the mortgage on your home, you can back out — will protect you if you need to sell your current home to get the money to qualify for your new loan. Ask for a rent-back clause. In hot markets, many sellers are asking for — and getting — rent-backs.

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Rent back Inspection contingency Earnest money deposit Finance 104

Realtor.com

OCTOBER 29, 2020

If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. Clear the title. Review your closing disclosure.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 20, 2023

Offer a larger earnest money deposit. Earnest money shows you are serious about the deal because you’re tying up your funds in escrow. Money talks! Offer to accept a rent-back agreement. For example, he mentions looking into a bridge loan. “It Offer over asking price.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 89