September 14

Buyers Prepare for House Hunting

A professional analysis used to estimate the value of ahome. A necessary step in validating a home's worth to youand your lender as you secure financing. The fees required to complete the real estatetransaction. Paid at closing, they include points, taxes,title insurance, financing costs, and items that must beprepaid or escrowed. Request an estimate of closingcosts from your mortgage lender. A number from 300 to 850 based on an analysis of yourcredit history. Helps lenders determine the likelihood that you willrepay future debts. Typically 3-20% of the purchase price of the home. Some zero down programs are also available. Ask your mortgage lender for more information. The interest rate you pay to borrow money whenbuying a home. The lower the rate, the better. A letter from a lender indicating that you qualify for amortgage for a specific amount. A real estate agent is a licensed professional whoprovides services in buying and selling homes. They are there to help navigate the legal aspects of thesale, as well as negotiate the best deal for you.


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