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

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? If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Earnest money deposit. Original principal balance.

Purchase and sale agreement 98
Purchase and sale agreement Title Proof of funds Pre-approval 98
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Home Buying Checklist: A Survival Guide for Buyers

Redfin

AUGUST 3, 2022

224,000/100 = $2,224 is the maximum monthly mortgage payment, including principal, interest, taxes, house insurance (PITI) plus mortgage insurance, that you could afford according to the 28% rule. . Research mortgage options and get pre-approved for a home loan. Here’s a quick example: Say your monthly gross income is $8,000.

Pre-approval 76
Pre-approval Purchase and sale agreement Title Debt-to-income ratio 76
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