Realty Biz

JANUARY 19, 2024

From three decades working as a Realtor, there are common denominators for first-time home buyers going through the purchase process with ease. This includes understanding the terminology, legal aspects, and financial considerations of purchasing a property. It's advisable to reach out to multiple lenders and obtain pre-approval.

Debt-to-income ratio 100

Debt-to-income ratio Pre-approval Purchase and sale agreement Inspection 100

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. For example, on a 95% LTV purchase with a 640 FICO, there is an additional 275 bp fee added on top of the base g-fees and MI expense.

Debt-to-income ratio 370

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 370

The Close

DECEMBER 29, 2022

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Active contingent. Call option.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. Give your loan officer full disclosure from the start – tell us everything.

Closing 63

Closing Title search Purchase and sale agreement Title 63

Redfin

FEBRUARY 10, 2021

Later in the year, the worst of the pandemic will hopefully be behind us, and as businesses reopen and daily activities become safer, a new batch of homebuyers and sellers will enter the housing market, making for the strongest year of home sales since 2006. ”. There is a shortage of homes for sale. We’re in a seller’s market.

Debt-to-income ratio 76

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

HomeLight

AUGUST 16, 2021

With this expert-backed guide, we’re here to help: Here’s how to apply for a first time home buyers loan in eight manageable steps. Source: (LinkedIn Sales Solutions / Unsplash). For these loans, qualified first-time buyers can make a down payment as low as 3%. Step 5: Get preapproved for your loan.

Loans 95

Loans VA loan FHA loan Purchase and sale agreement 95