You’ve found the house you love, put in a good offer and it was accepted. If you’ve applied for a mortgage, the next step is to undergo a comprehensive appraisal of its worth. And be warned: An unfavorable home appraisal can squash a real estate deal. Here, realtor.com offers insight into how the home appraisal process works. Appraisals estimate
Hoping to buy a home? One number you’ll want to get to know well is your credit score. Also called a credit rating or FICO score (named after the company that created it, the Fair Isaac Corporation), this three-digit number is a numerical representation of your credit report that outlines your history of paying off debts. Why does your credit score
Buying a house is exciting, but the home loan process sometimes can be a bit daunting. Here, realtor.com offers some expert mortgage advice that should work well in 2019. 1. Consider an adjustable rate mortgage You’ve probably always assumed you’d get a 30-year mortgage with a fixed interest rate, but if you’re not buying your forever home then the benefits
According to realtor.com, these five money mistakes could lead to your mortgage being derailed. 1. Moving money around If you have cash in the bank, do not move it anywhere while you wait to close. Buying stock, for example, will lower your net value and reduce the cash you can bring to closing. 2. Taking a leave of absence
Purchasing a home for the First-time is a major commitment. That’s why you should work with a fiduciary financial planner to help make sure you can buy a house that you can afford without sacrificing your financial future. Then, a Realtor can help you track down the right house, while a lender will help you find great mortgage options. Here,
If you’re ready to take the leap and become a home owner, that usually means you’ll have to get a mortgage. Unfortunately, not everyone who wants to buy a home can qualify for a mortgage because lenders try to make certain you’ll pay back your debt before they allow you to borrow. Depending on the lender and the type of
You know you need to be organized before looking at homes, but does that include securing a pre-approval letter from the bank? Truth is, getting pre-approved can improve your chances of falling into the sellers’ good graces, so you want to get it done as soon as possible in the home-buying process. Here, realtor.com discusses what a pre-approval letter actually is and more. What is a
If you’ve decided to purchase a home, visiting open houses is a crucial part of the process. However, launching straight into the search without preparing properly could land you in trouble—both financially and emotionally. Here, realtor.com explains how to lay the proper groundwork to guarantee good decisions—and a home you’ll adore. 1. Make sure your credit is in order A
If you’ve never attempted to get a mortgage before, be warned: It can be a mystifying process. Toward that end, Forbes debunks six of the most common mortgage myths to help you go into the mortgage process feeling informed. Getting pre-qualified is the same as getting pre-approved Although these two terms may sound the same, there is a world of
You’ll need a mortgage unless you’re planning on buying a home with cash, and to get approved for a home loan you need to qualify for a mortgage, here are 3 things to know before applying for a mortgage. That requires some careful planning that begins with arming yourself with the right knowledge about the home loan application process. Here,
