Marco Santarelli

DECEMBER 22, 2020

A real estate mortgage note is a promissory note secured by a mortgage loan. The promise to pay which is called a promissory note, which states how big the loan is, and what the interest rate and the terms of the loan are. Therefore, the loan amount would be $120,000. It is not the same as a mortgage loan.

Mortgages 122

Mortgages Purchase and sale agreement Fixed-rate mortgage Loans 122

Redfin

SEPTEMBER 4, 2024

Refinancing your mortgage can be a strategic move to either lower your monthly payments, shorten your loan term, or tap into your home’s equity. Essentially, “ refinancing ,” means to finance once again or renegotiate the terms of one loan in lieu of another with better terms. However, did you know refinancing a mortgage can cost you?

Mortgages 69

Mortgages Debt-to-income ratio Closing costs Principal 69

HomeLight

JUNE 9, 2023

you probably already know you’ll need a down payment , and to talk with a loan officer and real estate agent at some point. How do I know which type of home loan to choose?” However, there are some instances when having a lease makes more sense than taking out a mortgage loan. What’s the deal with earnest money ?

Title 105

Title Loans Title search Inspection 105

HomeLight

AUGUST 31, 2021

The Closing Disclosure is issued by the buyer’s lender, and is designed to be compared to the Loan Estimate, which is the first estimate of fees the buyer gets when they borrow money. Lender: The name of the company financing the loan for the buyers. Loan Amount. Existing Loan(s) Assumed or Taken Subject to.

Earnest money deposit 105

Earnest money deposit Title Closing Loans 105

Redfin

DECEMBER 15, 2023

So, if you’re fairly new to homeownership, perhaps you recently bought a townhouse in Alexandria, VA , or a home in Seattle, WA , with mortgage rates beginning to trend downward, you may soon have truly viable options to refinance your high-interest loan for a lower interest rate, keeping more money in your pocket.

Fixed-rate mortgage 69

Fixed-rate mortgage Mortgages Title search Equity 69

HomeLight

APRIL 29, 2021

It’s customary for the seller to pay for closing costs like title search, title insurance, and transfer taxes. Loan payoff amount. You must pay off your mortgage before you can transfer the title to a new owner. Loan payoff includes the remaining principal and interest owed up until closing.

Closing costs 85

Closing costs Closing Seller concession Homeowner’s association 85

HomeLight

NOVEMBER 1, 2021

These costs may include mortgage payoff, title fees, prorated property taxes, real estate transfer taxes, loan reconveyance and reconveyance recording fees, real estate attorney fees, and real estate agent’s commission as well as buyer concessions and additional fees. Loan Payoff Fee. Title fees: $550. Deed Preparation.

Closing costs 98

Closing costs Closing Purchase and sale agreement VA loan 98

HomeLight

MAY 3, 2023

Title fees (0.5%-1%) 1%) Title fees go toward covering insurance policies that offer protection to both the lender and buyer if a costly title issue crops up with a home after it’s purchased. Fannie Mae guidelines cap seller concessions — also called “interested party contributions“ — for conventional loans.

Seller concession 111

Seller concession Purchase and sale agreement Inspection Title 111

Redfin

AUGUST 29, 2024

Your credit score is important as it influences whether you qualify for a loan, the type of loan, and what interest rate you’ll receive. Generally speaking, a credit score of 620 is the minimum credit score for a conventional loan, although some lenders look for a score of 700 for new homebuyers.

Earnest money deposit 63

Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

Redfin

AUGUST 3, 2022

Debts include recurring bills, such as car payments, daycare payments, and student loans. The safest rule of thumb dictates that your mortgage loan payment should not exceed 28% of your monthly gross earnings. PMI becomes part of your mortgage payment to protect the lender—not you—if you stop making payments on your loan. .

Purchase and sale agreement 76

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

HomeLight

JANUARY 11, 2023

One of the principal founders has been in real estate for more than 30 years, lives in Orlando, and has a current broker’s license with Sand Dollar Realty. That includes an average of 16 days on market, plus the typical 49 days a buyer needs to close on a purchase loan. Title search. No text blasts or constant messaging.

Purchase and sale agreement 97

Purchase and sale agreement Closing costs Closing Agents 97

Housing Wire

APRIL 30, 2024

The Biden Administration’s pilot program would put Fannie Mae and Freddie Mac in charge of resolving any title-related claims that arise for qualified borrowers refinancing – a seismic shift in the housing finance system. Title insurance is equally important when homeowners refinance.

Title 375

Title Due diligence Title search Principal 375

RIS Media

MAY 24, 2021

If you choose a conventional or FHA loan, a down payment is required. The amount of the down payment that’s needed is based on the home’s price and property type, as well as the loan product. For a conventional loan, exactly how much depends on the lender and loan type—you might put down 3%, 10%, 20% or more.

Closing costs 98

Closing costs FHA loan Principal Loans 98

Realty Biz

JANUARY 10, 2021

In a nutshell, a reverse mortgage is an excellent loan product for seniors. The borrower’s age and current interest rates are two factors that affect the principal limit that can be borrowed. Anyone applying for this type of loan will need to attend an information session from a counselor approved by the HUD.

Mortgages 111

Mortgages Due diligence Equity Title search 111

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.

Purchase and sale agreement 98

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