Close of Escrow: When you’re buying a home, one of the most important steps in the process is the closing of escrow. This is the final stage of the home buying process, where all the funds are transferred and ownership of the property is transferred from the seller to the buyer. The term “close of … Read more
A cash-out refinance is a type of mortgage refinance that allows homeowners to access the equity in their homes and receive a cash payout. In a cash-out refinance, the homeowner refinances their existing mortgage for more than they owe and receives the difference in cash. Cash-out Refinance for Homeowners This type of refinance can be … Read more
[et_pb_section fb_built=”1″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] When you’re buying a home, “cash to close” is a term you’ll hear often. It refers to the amount of money you’ll need to bring to the closing table to complete the transaction. In this article, we’ll explain … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] When you’re in the process of buying a home, you’ll probably come across the term cash reserve at some point. It’s an amount of money that you set aside … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] When you’re in the process of getting a mortgage or trying to understand the financial terms associated with it, you may come across the term “basis points.” Understanding what basis points … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] Appreciation is a term used in the mortgage industry to describe the increase in value of a property over time. In other words, it’s the amount by which the value of … Read more
When it comes to buying a home, a crucial step in the process is obtaining an appraisal. An appraisal is an estimate of the value of a property, conducted by a licensed appraiser who assesses the condition of the property and compares it to recent sales of similar properties in the area. This process helps … Read more
A common financial term that refers to the process of spreading out a loan or debt over a fixed period of time, typically through regular payments. It is commonly used in mortgages, auto loans, and other types of financing. Understanding the basics of amortization is important for anyone who is taking out a loan or … Read more
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”] If you’re considering buying a home, you may be considering an Adjustable-rate mortgage (ARM) as one of your financing options. An ARM is a type of mortgage loan where the interest rate adjusts … Read more
No-Doc Mortgage No-doc mortgage, also known as no-income or stated-income mortgage allows an applicant to qualify for lending using non-standard documentation. A no-doc mortgage does not require income verification from the borrower. Instead, lenders approve this loan based on the declaration that the borrower can afford to make the loan payments. No doc mortgages come … Read more