Realty Biz

MARCH 30, 2023

Understand the Types of Mortgages, Interest Rates, and Fees Before you can get started, it's important to understand the different types of mortgages available and the associated interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

Mortgages 101

Mortgages Pre-approval Pre-qualification Due diligence 101

HomeLight

MARCH 22, 2022

Who doesn’t love the charm that popular Netflix shows (we’re looking at you, Outer Banks ) make us weep to call home? Ever heard of the due diligence fee in North Carolina? North Carolina is unique with its due diligence expense. NC Home Advantage Mortgage. Asking your bank if they have or know of one.

Due diligence 105

Due diligence Closing costs Earnest money deposit Loans 105

Realtor.com

MARCH 15, 2021

Typically, sellers who finance the home sale charge a higher interest rate than a traditional mortgage lender would. The seller is acting like a bank in this scenario — but unlike a bank or traditional mortgage lender, they may not be able to sell the loan or rely on other funds should you default on your mortgage.

Finance 70

Finance Due diligence Fixed-rate mortgage Lending 70

Fancy Pants Homes

JUNE 9, 2022

Doing your due diligence on mortgage providers, asking for quotes from several different institutions, and consulting advisors from both leading and smaller providers can help you identify and lock in the best rates available to you. The interest rate is not the be-all-end-all, contrary to popular belief.

Mortgages 59

Mortgages Due diligence Equity Fixed-rate mortgage 59

HomeLight

AUGUST 31, 2021

That may be around the same or double what you’ll pay again in closing costs when you eventually get a mortgage on the house. You’re likely to run into appraisal problems , and no bank is going to sign off on a mortgage for more money than the house is actually worth. Do your due diligence. Proceed with caution.

Purchase and sale agreement 124

Purchase and sale agreement Due diligence Closing costs Mortgages 124

The Close

DECEMBER 29, 2022

It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Due diligence period.

Purchase and sale agreement 98

Purchase and sale agreement Title Pre-approval Proof of funds 98