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How to Buy a House in 15 Steps: The Ultimate Guide

Redfin

A mortgage calculator will estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and PMI. These loans are typically issued for more expensive homes and come with stricter qualification requirements. What’s an earnest money deposit?

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? Earnest money deposit. Also known as a “good faith deposit,” it’s the amount of money a buyer puts in escrow to show their commitment to purchase a property. Original principal balance.