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.
All you Need to Know About Home Loan Closing Costs & Fees | Detailed Guide |EZ Fundings Read More »
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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If you plan on buying or refinancing a home, your realtor may request that you obtain pre-approval for a loan before submitting an offer (click and read “The Power of a Pre-Approval for Home Loan“). However, it may be wise to consider conditional loan approval if your offers are consistently being rejected. Let’s explore what
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Are you planning to buy a home? Is it your first time? Then the chances are that you have many questions on your mind. It can be difficult to make an informed home buying decision for first-time home buyers with so many unanswered questions. But don’t worry, we have you covered. Hence, these are some
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When you apply for an FHA loan or make a down payment of less than 20 percent on your conventional loan, you, the loan borrower, will have to provide mortgage insurance. Read on to learn about this in detail. Get your copy of the First-time Home Buyer Guide for FREE. Click here. Mortgage Insurance- What
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The rule of thumb is to make a minimum of 20 percent of the purchase when making a down payment. However, that doesn’t mean you have to postpone the dream if you can’t afford it. In fact, a down payment assistance program is one of the best and most feasible ways to start your homeownership
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