HomeLight

JULY 31, 2022

Before properties can be financed, their value and condition is typically examined by a state-licensed, independent appraiser contracted by the buyer’s mortgage company. These are standards related to the overall condition of a property which will play a role in the willingness and/or ability of a lender to finance a buyer’s loan.

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Closing FHA loan Purchase and sale agreement Inspection 98

HomeLight

JANUARY 12, 2022

Broken down by type of loan, you can expect the following: . Conventional loan. And in some scenarios, the seller won’t be required to attend in-person if they pre-sign the deed and other documents. Below are some of the most common holdups: Buyer financing (22% of delays). So if you list your home on Jan.

Closing 108

Closing Purchase and sale agreement Pre-approval Inspection 108

Redfin

MAY 2, 2023

Get your finances together Getting your finances in order is crucial when buying a home in Colorado. Additionally, it’s important to review your credit report and score, as these can impact your ability to get approved for a mortgage and affect your interest rate.

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Pre-approval FHA loan Loans Finance 58

HomeLight

JUNE 30, 2021

“You can walk in without [taking] any money out of your pocket,” says Richard Helali, mortgage sales leader at HomeLight Home Loans (though note that you may be responsible for some closing costs, depending on your situation). Financing a home may be more feasible than you think! USDA loan. Source: (Thought Catalog / Unsplash).

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VA loan FHA loan Mortgages Closing costs 65

Redfin

AUGUST 3, 2023

Prioritize your finances Before embarking on this significant investment, assessing your financial health, understanding your budget, and determining how much you can afford is essential. Get pre-approved from a lender Getting pre-approved from a lender is crucial when buying a house in Georgia, as it offers several significant advantages.

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Purchase and sale agreement Pre-approval Debt-to-income ratio Loans 56

Redfin

JUNE 14, 2023

Prioritize your finances Getting your finances in order is crucial for the homebuying process in North Carolina, as it sets the foundation for a smooth and successful transaction. Firstly, having your finances in order allows you to determine your budget and understand how much you can comfortably afford to spend on a home.

Pre-approval 58

Pre-approval Debt-to-income ratio Closing costs Title 58

HomeLight

AUGUST 20, 2021

The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. FHA loans require a special appraisal. The FHA appraiser ensures that the property meets HUD’s minimum property requirements.

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FHA loan Inspection Pre-approval Loans 103

HomeLight

MAY 19, 2022

Consider a pre-listing inspection. A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Not every buyer who has an approval letter will get to the finish line.”. Be aware of minimum property standards for certain loans.

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As-is Inspection Investor Closing costs 96

HomeLight

MAY 23, 2022

It’s worth noting there are many buyers out there looking for a renovation project. It’s worth noting there are many buyers out there looking for a renovation project,” says Muncey. “So, Consider a pre-listing inspection. That being said, a pre-listing inspection isn’t a necessity.

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As-is Inspection Investor Sales 89

HomeLight

APRIL 11, 2022

Though they’re rare, some lenders will issue appraisal waivers , which allow a financed offer to proceed without an appraisal if the lender is confident in a home’s value. An appraiser looks at the age of the home, the square footage, the layout, the location, utilities, and various upgrades or renovations.

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Loans Pre-approval Agents Inspection 100