Redfin

JANUARY 28, 2025

Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. From evaluating the loan terms to understanding the hidden costs, assuming a mortgage isn’t a decision to take lightly.

Loans

HomeLight

OCTOBER 31, 2024

Current property ownership documents You’ll also need documentation to prove property ownership: Property deed and title documents: These establish legal ownership. The title is the concept of legal ownership granted by the deed. Any second mortgage documents: Documents for any home equity loan or HELOC associated with the property.

Purchase and sale agreement

Redfin

JUNE 23, 2025

Home appraisal If the buyer is financing the home, the lender will usually require a home appraisal to ensure the home’s value supports the loan amount. Title search and insurance A thorough title search is essential to uncover any potential issues with the property’s ownership. How the Process Works 3.

Due diligence

Redfin

JUNE 5, 2025

Many cash buyers assume that by sidestepping a home loan, they also bypass the complex array of fees associated with closing. Sellers often prefer cash buyers because there’s less risk of a loan falling through, and the whole closing process can happen much faster. home purchases were made in cash in 2024.

Closing costs

Windemere Buying

MAY 19, 2025

Even if you are pre-approved for your mortgage , you may not be able to obtain the right loan for the home. A title contingency allows you to raise any issues you may have with the title status of the property and stipulates that the seller must clear these issues up before the transfer of title can be completed.

Home sale contingency

Redfin

JUNE 27, 2025

Not getting pre-approved for a home loan before starting your search A common mistake for first-time homebuyers is jumping into the search without first getting pre-approved for a mortgage. Even a small difference in your mortgage rate can really add up over the life of the loan, so it’s worth your time to shop around.

Pre-approval

Redfin

JUNE 11, 2025

Appraisal contingency When a buyer finances a home, lenders require an appraisal to confirm the property’s value supports the loan amount. Reasons for denial can include credit issues, job changes, or changes in loan terms. The title company typically conducts this search shortly after the contract is signed.

Purchase and sale agreement

Redfin

JULY 30, 2025

Even without liquid funds, buyers can explore bridge loans, private lenders, or creative financing to structure a cash-like offer. A cash offer simply refers to a situation where a buyer pays the entire purchase price upfront, without using a mortgage or other loan. What is a cash offer? Does a cash offer really mean all cash?

Purchase and sale agreement

HomeLight

MARCH 24, 2025

Confirm the status of the mortgage You need to know whether there are any outstanding liens , such as a mortgage, home equity loan, or HELOC (line of credit) attached to the inherited house. This can be done through a title search , which will reveal any debts or claims against the property, including unpaid taxes.

Purchase and sale agreement

Redfin

FEBRUARY 20, 2025

Closing fees and other administrative costs Closing fees are administrative costs related to the home sale and title transfer. Title search fees: A fee to research the property’s title and ensure there are no liens or ownership disputes. Recording fees: Fees for registering the new owner in the public records.

Closing costs

Redfin

JULY 9, 2025

Determine your budget Estimated time: 2-4 weeks Before jumping into your home search the first step is to determine how much you can afford. It’s best to shop around to find the best rate and determine the best type of mortgage loan for you. Don’t just default to your current bank.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

Pro Tip: Setting aside enough for a solid down payment can result in better loan terms and reduced monthly payments. These include fees for obtaining the loan and transferring ownership. A fixed-rate mortgage has the same interest rate for the entire loan term, providing predictability and stability to borrowers.

Purchase and sale agreement

HomeLight

NOVEMBER 15, 2024

When inheriting a property, you need to make sure you know if there are any liens like a mortgage or an equity loan that need to be paid,” Hillman says. Hillman says a title search will help to reveal the status of the property.

Pre-approval

Redfin

JUNE 30, 2025

Here’s a breakdown of who typically needs to attend—or be represented: Buyer: The buyer is usually present to sign loan documents (if financing) and other paperwork, like the deed and closing disclosure. This often involves paying off any existing mortgages, resolving tax liens, or addressing other title defects before or at closing.

Closing

Redfin

JUNE 17, 2025

The steps of the due diligence period can include any of the following: Home inspection Pest inspection Appraisal Negotiation of closing costs Title search and title insurance Renegotiations (if applicable due to home inspection) During this period before settlement, the buyer and seller are able to continue negotiations.

Closing

Rochester Real Estate

NOVEMBER 5, 2015

Title Search and Examination Before completing a real estate transaction, verifying the property’s title is crucial to ensure it is free from any liens, encumbrances, or disputes. Real estate lawyers conduct thorough title searches to uncover property ownership rights issues.

Purchase and sale agreement

Redfin

JULY 24, 2025

We’ll explain how it’s possible to roll closing costs into your new loan, potentially eliminating the need for upfront cash. Refinancing a mortgage, explained by Redfin , involves replacing your existing home loan with a new one, often to secure a lower interest rate or different loan terms.

Mortgages

Redfin

JULY 11, 2025

Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan. Even with pre-approval, unexpected financial changes or lender decisions can prevent final approval.

Earnest money deposit

Redfin

FEBRUARY 21, 2025

Whether you’re preparing for a move, considering a home equity loan, or simply maintaining your propertys clean title, uncovering liens early can save you from unexpected costs and stress down the road. Many counties maintain online databases where you can search property records by address or the owner’s name.

Title search

Redfin

JULY 29, 2025

A larger down payment can lead to a smaller loan, potentially lower interest rates, and can help you avoid private mortgage insurance (PMI) if you put down at least 20%. Purpose: These fees cover the services and administrative work needed to process your loan and legally transfer ownership of the property. What happens on closing day?

Closing costs

Housing Wire

MARCH 10, 2025

But even with these added costs, the system remains significantly cheaper than private title insurance in other states. AOL vs. title insurance Unlike private insurance models that primarily rely on automated or digital title searches, ITG requires an attorneys title opinion based on a 40-year abstract before issuing a policy.

Title

HomeLight

FEBRUARY 20, 2025

Financing contingency: The buyer must qualify for a mortgage loan and receive financing for the deal to continue. Title contingency: The sale of the home is contingent on the title search showing no issues or concerns. Home sale contingency: Buyers purchase is dependent on the sale of their existing home.

Inspection contingency

Housing Wire

FEBRUARY 25, 2025

The best hard money loans for real estate depend on your investment strategy, whether youre financing a short-term flip, a rental property or a large-scale development. Youll also learn how hard money loans work, what it takes to get approved and key factors to consider before applying.

Hard money loan

Housing Wire

MAY 11, 2023

This integration allows lenders to access Flueid’s title data and insights during the loan application process, resulting in time savings and a simplified consumer experience. Loan officers and underwriters can now easily check title information and review critical insights to understand the status of a property and consumer.

Loans

Housing Wire

JANUARY 8, 2021

Loan Origination Fee. Loan origination fees are what lenders charge to set up a loan. The costs vary depending on the lender, but typically range between 0.5% – 1% of the loan amount. If your loan is insured by the Federal Housing Administration, the FHA charges an upfront premium of 1.75% of the loan amount.

Closing costs

Housing Wire

APRIL 10, 2023

As a follow-up, HousingWire sat down with Peter Richter, co-founder and president at Flueid, to discuss why mortgage lenders should be asking for a quick, data-driven title check at loan application, rather than an instant title commitment, to understand and verify what’s going on with a property and consumer from the start.

Title

Housing Wire

DECEMBER 16, 2022

Title insurance is different than most other insurance products. There are also strict guidelines for the way title and settlement fees are disclosed to consumers and when changed circumstances allow for alterations to the disclosures. The buyers purchased title insurance, which turned out to be an excellent investment.

Title

Housing Wire

JUNE 21, 2022

In a refinancing, homeowners obtain a new loan and lenders require a new title search and a title insurance policy on that loan to protect their investment. Professionals conduct the search and examine documents, with title companies regularly providing a discount, or “reissue rate” on a refinance.

Title

Housing Wire

AUGUST 6, 2021

Refinancing means taking out a new mortgage loan and replacing it with your current one. With a lower interest rate, homeowners pay less in interest and can even shorten the length of their loan. There’s also a chance your lender will require another title search and title insurance, which would add to your costs.

Title search

Housing Wire

MARCH 2, 2021

HousingWire: What are some due diligence and underwriting challenges loan originators face today? Historically low interest rates in 2020 led to an all-time high in mortgage lending for new loans, but with forbearance moratorium deadlines being extended, some lenders are getting nervous. It’s easy to see why. Altisource does.

Title

Housing Wire

MARCH 23, 2021

One emerging form of fraud we have seen plaguing our industry has nothing to do with the loan manufacturing process, but rather with the labor used to generate the loans. Given the historic volatility of 2020 (driving loan demand) and the search for elusive industry experience, underwriters have become a prized catch.

Lending

Housing Wire

JUNE 24, 2021

Closing Complex Loans Faster With a Digitized Client Workflow. Join this webinar for a discussion on changes in market demographics, suppliers and how focusing on customer experience and taking a few simple steps during the mortgage loan process can close deals 3x faster.

Title

Housing Wire

OCTOBER 27, 2023

There are many factors to consider when selecting a title company, including local expertise, service standards, market conduct, and commitment to the community. Using Home Closing 101, consumers can contact local title agencies to compare rates and find a company that feels like the best fit for them.

Title

Housing Wire

OCTOBER 29, 2020

We offer a span of comprehensive product options throughout the entire loan lifecycle and help manage loans from start to finish, including title searches, processing, underwriting, closing and disposing of them and even take them into the post-closing and servicing process. Security is a major priority for us too.

Due diligence

Housing Wire

MAY 17, 2023

“Consumer loan demand was mixed, with home-equity and used auto loans showing some increased demand over the last few months,” the Federal Reserve Board of Governors noted. Another area to watch is the performance of loans approved through automated processes.

Equity

Housing Wire

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. The research also finds that title and settlement fees increase with loan amount (a 1% increase in loan amount is associated with a $7.41 increase in fees).

Title

Housing Wire

APRIL 6, 2021

She received help from family members and was also able to take a loan out against her 401(k) to make up the difference. One California-based real estate agent who originates her own loans told HousingWire that she believes appraisers are being far too conservative in this high-octane market, and are also using bad comps.

Title search