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23 Common First-Time Homebuyer Questions: Your Questions Answered

Redfin

It covers a variety of fees like lender and title fees, property taxes, home inspection, and homeowners insurance, to name a few. What’s the difference between a fixed-rate mortgage and adjustable-rate mortgage? It’s important to note that with an ARM, your rate could increase or decrease.

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21 Essential Tips for First-Time Homebuyers

Redfin

Look into first-time homebuyer benefits Many programs are designed to make homeownership more accessible for first-time buyers by reducing upfront costs, lowering monthly payments, and helping with mortgage qualification. Adjustable-Rate Mortgage (ARM): Starts with a lower fixed rate, then adjusts based on market trends.

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Buy Your First Home in Massachusetts: 15 Questions Answered

Realty Biz

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Answer: What you can afford depends on your income, credit rating, current monthly expenses, down payment, and interest rate. What Is a Mortgage Pre-Approval? What Type of Mortgage Should I Choose?

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

The Close

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. Don’t you love it when the co-borrower is the client’s dad who comes along on the inspection and is suddenly an expert on chimney engineering? Got Clients With Interest Rate Questions?