Seller concessions are closing costs that the seller has agreed to pay. Sometimes, you can ask the seller to contribute to specific closing costs. Other times, sellers may just pay a percentage of the total closing costs. Read on to know the limits of seller concessions. Get your copy of the First-time Home Buyer Guide […]
The Limits of Seller Concessions – EZ Fundings Home Loans Read More »
There are many benefits of seller concessions. Seller concessions are closing costs that the seller has agreed to pay. Sometimes, you can ask the seller to contribute to specific closing costs. Other times, sellers may just pay a percentage of the total closing costs. Get your copy of the First-time Home Buyer Guide for FREE.
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Backed by the Department of Veteran Affairs, VA loans offer tons of benefits as an active duty service member and veteran that wish to become homeowners. Read on to learn how you can benefit, as long as you meet the criteria. But, before we review the benefits, it is essential to know the eligibility requirements.
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If you are about to tie the knot, then congratulations to you! You are likely to be super excited to plan your future at this stage like starting a family and buying a home. Homeownership is the American dream. However, we’d suggest that you don’t rush into getting a home loan without doing the research.
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If you are purchasing a home on a mortgage that too for the first time, your lender may order a home appraisal. This is a vital aspect of the home buying process. Read on to learn about home appraisal in detail. Home Appraisal- What is it? It is an unbiased professional opinion of the property’s
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Buying a property is challenging, but the benefits of it make it all worthwhile. Consider buying a home if you’re tired of paying rent and delaying your homeownership dream. Don’t keep living as a tenant without any benefits. Take charge and think about your future. Learn about buying a property and its advantages. There are
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To buy a second home and to make your primary home a rental space is a great idea. This is because you can have an extra source of monthly income that can cover or offset your mortgage payment. And that this strategy makes the homeownership process less expensive and easier than getting a new investment
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Budgeting for closing costs becomes necessary after purchasing a home. These expenses and fees are part of securing a home loan and are commonly referred to as mortgage closing costs. It’s important to note that closing costs go beyond the down payment. That is typically ranging from three to five percent of the loan amount.
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Most people use the terms preapproval and prequalification interchangeably. But actually, they are pretty different. And that is precisely what we’ll focus on in today’s blog post. Through here, let us help you understand the difference between the two. After that, you can take the steps towards homeownership confidently. What is Prequalification? Prequalification is an
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With a conventional mortgage, you also have to buy private mortgage insurance (PMI), especially if you make a payment of less than 20 percent. For example, if you purchase a home for $400,000, you will have to make a down payment of $80,000 if you wish to avoid PMI. On the other hand, if you
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