There are three values for any home on the market: What the seller thinks it’s worth, what the buyer thinks it’s worth and what a professional appraiser will think it’s worth. The key to a…
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FHA and VA Loans Might Put Ownership in Reach
Buying a home might be a pretty conventional act, but financing one doesn’t have to be. Loans backed by federal agencies can be a big help if you’re low on cash or your credit score isn’t where…
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First-Time Buyer: Loan Programs Can Be Tricky
You may be a first-time home buyer and not even know it. That’s because in the world of real estate, “first time” really means “first time in a while.” Most programs aimed at helping first-time…
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What Is Escrow and How Does It Work?
No matter where you’re buying a home, at some point you’re going to find yourself deep in escrow. (Don’t worry. It’s not as bad as it sounds.) What is escrow? In real estate, it has several meanings,…
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How to Find and Work Effectively With a Lender
As a home buyer, you’ll be shopping for more than a house. You’ll also be shopping for a mortgage. Finding the right lender can save you money and stress, but first you have to know…
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What Type of Mortgage Is Best for You?
Just as homes come in different styles and price ranges, so do the ways you can finance them. While it may be easy to tell if you prefer a rambler to a split-level or a…
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Is Getting Pre-approved for a Home Loan the Same as Pre-qualifying?
When you want to make an offer on a house, chances are the seller will want to know whether you’re pre-approved or pre-qualified for a loan. What difference does it make? It depends on you…
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What Is a Mortgage and How Does It Work?
Perhaps the most intimidating part of buying a home is applying for a mortgage. You may know exactly what “APR,” “points” and “fixed-rate” mean — but if this is your first home, or you just need a…
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Comparative Market Analysis: What is a CMA Report for Real Estate Buyers?
A comparative market analysis, commonly abbreviated as CMA, is a report prepared by a real estate agent to help a client determine the value of a home. The report analyzes three or more recently sold…
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How Much Is a Down Payment on a House?
How much you’re required to put down on a house is determined by the type of loan you get, but it generally ranges from 3% to 20% of the purchase price of the home. Beyond…
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