Coming up with 20% for a down payment helps you avoid having to buy private mortgage insurance (PMI). For down payments less than 20% of the purchase price, the mortgage lender will require you to buy PMI. Why is the Read more
The Federal Housing Administration (FHA) provides insurances to lenders who offer mortgages to borrowers making low down payments of 3.5% of the sale price. Features of FHA loans: Low down payment with a minimum 3.5% of the sale price Easier Read more
Now that you have selected a home within your purchase price, hopefully you have done some homework on the additional out of pocket expenses that you have to come up with besides securing a mortgage loan. 10% to 20% for Read more
Co-ops target home buyers who intend to live in their co-op purchase as a primary residence. Buying a co-op requires a board package of 2-3 years of tax returns, references, and a board interview because co-op boards look for potential Read more
A rebate real estate agent will be your main point of contact and available to answer any questions or point you to other real estate professionals. His main goal is to help you complete the home purchase starting from the Read more
A prequalification loan letter is not as good as a preapproval loan letter because the information provided by you to the lender is not verified. You basically let them know your income and debts allowing the lender to come up Read more
Start with Zillow and Trulia to get the final price of recently sold homes 3 to 6 months ago. Narrow the homes sold to a 6 block radius of the area where you want to buy at. If you are Read more
A well staged home adds value to the seller’s asking price. Do you notice that every piece of furniture seems to fit in perfectly, the living space clutter free, soothing background music once you enter, smell of fresh baked cookies Read more
Luxury Condo Doorman Pet Friendly Elevator In-Unit Washer / Dryer Outdoor Space Dish Washer Gym Parking Sky View Parc Yes 2 rooftop dog parks Yes Yes Private 6-acre rooftop garden w/ BBQs, swimming pool, tennis courts, basketball court, children’s playgrounds Yes Yes Yes Read more
“As-is” means like it sounds. If a used car is listed “as-is” by the car dealership, then the buyer takes the car “as-is” after paying. Any issues found with the car afterwards is the responsibility of the new owner and Read more