Archives by Tag 'Buying'
Contingency contract
A contingency contract would be a contract that has one or more specific clauses that must be satisfied before the buyer and/or seller are required to close on the sale of the property. Some of the more common contingencies include financing, satisfactory inspections, repairs, clearing title, lender approval of a short sale, the selling of [...]
Buying a home should not depend on how well you speak English
John Trasviña, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity said in a HUD press release that; “When buying or renting a home, obtaining important housing information should not depend on how well people speak English.” His words were part of a HUD press release announcing the addition of brochures, factsheets, and other [...]
FHA will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit
Buyers using FHA financing may be able to take advantage of first time home buyer tax credit prior to closing. FHA will allow buyers who qualify to use tax credit for additional down payment, closing cost. Full report Similar posts: Discriminacion Es Ilegal Why should I consider an FHA mortgage?
Do you have the credit and income needed for buying a home?
Do you have the credit and income needed for buying a home? Before you start the home buying process you should make sure that your credit and income are sufficient enough to allow you to finance a home and make the monthly payments. You can speak with a professional lender and have them review [...]
Buying a home may require an appraisal
Appraisals are what a lender uses to determine the value of a home you are asking them to lend money on. An appraisal differs from a market analysis performed by a real estate agent. While most market analysis reports generally are close to the final appraised value, a lender requires a third party to complete [...]
You could cross your fingers or you could get a home inspection
Buying a home is a huge investment. I would suggest against crossing your fingers, hoping that there is nothing wrong with the home. For your safety and peace of mind you should definitely get a inspection of the home you are thinking of buying. Home inspections are inexpensive when compared to the thousands of dollars you [...]
Consult with a professional when buying or selling a home
Your professional real estate agent can help guide you through the home selling or home buying process. Choosing a full time real estate agent who lives works and knows the area in which you live and fully understands the conditions of the area’s real estate market will save you time and money. In order to [...]
This may be the largest loan you ever receive, choose wisely.
Photo by wwworks The loan you obtain to buy a home may very well be the largest loan you take out in your lifetime. You need to choose your loan program, rate and terms wisely. It would be in your best interest to interview several lenders before selecting the mortgage professional you feel comfortable with and are [...]
Make sure you can afford the payment
One thing is for certain, many people who own a home in this country are now realizing that they cannot afford the mortgage payment. Record foreclosures throughout the country are partially a result of payments being too high initially or the mortgage payment increasing significantly at some point during the mortgage term. Before you ever step foot [...]
Good Faith Estimate helps buyers understand their mortgage
Mortgage lenders and brokers are required by law to provide a buyer with a good faith estimate when the buyer is applying for a home loan. HUD is requiring that this estimate be easy for the buyer to read and provide clear answers to the questions the borrower may have regarding the mortgage. The good [...]