HomeLight

JANUARY 5, 2022

“They help clients save money by representing both sides and a pre-arranged discount.”. Not all states require you to hire a real estate attorney to buy or sell real estate, but it’s almost always advisable to get legal representation in a sale among parties with a pre-existing relationship. Don’t: Be lenient on the pre-approval step.

Pre-approval 111

Pre-approval Purchase and sale agreement Title search Title 111

HomeLight

NOVEMBER 1, 2021

The appraisal helps ensure that the mortgage company doesn’t lend more than the property is worth. A buyer who makes an offer on your home should present you with a letter that proves they’ve been pre-approved for financing in an amount that is equal to or more than the purchase price.

Purchase and sale agreement 111

Purchase and sale agreement Backup offer Proof of funds Finance 111

HomeLight

SEPTEMBER 30, 2020

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. In terms of lending limits, 203(k) loans are subject to the same local lending limits as FHA loans. You’ll either need a mortgage or cash (with proof of funds).

Earnest money deposit 98

Earnest money deposit FHA loan Pre-approval Finance 98

Redfin

AUGUST 29, 2024

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Get pre-approved As you’re researching how to buy a house, you will want to get a mortgage pre-approval. The number is then multiplied by 100 to get the final percentage.

Earnest money deposit 63

Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

Marco Santarelli

AUGUST 16, 2024

Laying the Foundation: Pre-Investment Essentials A successful real estate investment journey begins with a solid foundation. Factor in down payment, closing costs, renovation expenses, and a reserve fund for unexpected repairs. Explore financing options: Research mortgages, hard money loans, and private lending options.

Due diligence 52

Due diligence Purchase and sale agreement Renovation Title search 52

The Close

DECEMBER 29, 2022

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. In a no-cost mortgage, the lending institution pays all of the closing costs in exchange for the borrower paying a higher interest rate. Pre-approval. No-cost mortgage.

Purchase and sale agreement 98

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