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Surprising Things You Should Know About Cash Homebuyers

Realty Biz

Cash Buyers Should Show Proof of Funds While not as complicated as being approved for a mortgage, cash homebuyers should show proof of funds for their offer to stick. Proof of funds is a document demonstrating that the potential buyer or entity has enough money to complete the purchase.

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Are HUD Homes a Good Deal? How to Tell If the Properties Are a Fit

HomeLight

The mortgage insurance protects lenders in case the buyer defaults on the loan, allowing those lenders to serve more borrowers. Buyers with lower credit scores or lower down payments can sometimes get an FHA loan even if they can’t get approved for a conventional loan. Next, explore financing options.

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Buying a Historic Home? What to Know Before Buying and How to Preserve it

Redfin

Depending on where the home is located, there may be fewer available lenders or they may charge higher interest rates for the loan. Additionally, if you plan to get a VA loan or FHA loan , historic homes may not qualify if they require extensive repairs.

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

Redfin

Jumbo loan: Also known as non-conforming loans, jumbo loans exceed the limits set by conforming loans. These loans are typically issued for more expensive homes and come with stricter qualification requirements. Credit score requirements are typically lower, and down payments can be as low as 3.5%.

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An Agent Guide to Writing a Home Offer Letter (+ Templates)

The Close

Financing Type Provide details about the type of financing being pursued, whether it's a conventional mortgage, FHA loan, cash, or another option. If the offer is cash, submit redacted proof of funds to strengthen the offer further. This will help justify the closing timeline.