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Understanding the Closing Costs Associated With a New Home Purchase

RIS Media

It has become common practice in some markets to ask the seller to pay some or all of the closing costs when you purchase a home. Some simple rules to remember on the different kinds of loans: – On VA loans, you can ask the seller to pay everything, meaning the buyer is making no down payment and paying no closing costs.

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Mortgage Rates 2024: Can Assumable Mortgages Get You a Lower Rate?

Marco Santarelli

An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan. Here's how it works: The seller's original mortgage terms, including the interest rate, loan balance, and repayment schedule, are transferred to you, the buyer.

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Short Sale Mortgage Loans: What Borrowers Need To Know

HomeLight

Even a brand-new home is often in need of at least one minor repair before closing! If you must acquire an FHA or VA loan for the short sale, be aware that the property must meet certain livability standards. Closing costs. The last and most costly hurdle you will need to clear is paying the closing costs.

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9 Email Ideas to Send to First-Time Homebuyers

BAM Media

Closing costs (to put the horror stories they’ve heard into perspective) #3— “Glossary of Real Estate Terms: Speak Like a Pro!” Not knowing key real estate terms can make first-time buyers feel lost and overwhelmed—and less likely to want to move forward, even if now is the best time for them to do so.

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Assumable Mortgages: What to Know Before Taking Over a Home Loan

Redfin

When it comes to buying a home, most buyers are familiar with securing a brand-new mortgage. Assumable mortgages offer a unique alternative, allowing buyers to take over the sellers existing loan – potentially locking in a lower interest rate and saving money over time. But what about stepping into someone elses shoes?

Loans 31
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Ask Brian: Can I Buy a House Without a Real Estate Agent?

Realty Biz

For instance, along with the down payment, an agent can help you understand how much money you’ll need for closing costs. As an example, you’ll probably pay for the appraisal as a closing cost. But even before closing, you’ll need to pay for a professional inspection out of your pocket. Understanding the paperwork.

Agents 84
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Can Assumable Mortgages Offer Hope for Home Buyers in 2025?

Marco Santarelli

An assumable mortgage is a way to take over the existing mortgage on a property instead of getting a brand-new loan. Here's how it works: The seller's original mortgage terms, including the interest rate, loan balance, and repayment schedule, are transferred to you, the buyer.