Thursday, December 30, 2021 / by Client Care Coordinator
Wednesday, September 4, 2019 / by Client Care Coordinator
Whether you are a first-time home buyer or a third-time home seller, the real estate transaction can be confusing and stressful enough even without the many terms and acronyms used during the process. But don’t be overwhelmed — we’ve compiled a mini-glossary of the important terms you should know and familiarize yourself with to help you better understand what’s going on with the home sale.
It’s good to remember what Steve Jobs said: “There’s always one more thing to learn.”
The ABCs of Real EstateA: An appraisal is a professional estimate of the value of the property by a certified appraiser. Lenders always require a home appraisal before they will issue a mortgage. Appraisers look into similar homes in the area that have been sold recently, also known as “comps,” and also take into account the home’s condition, square footage, location, a ...
Wednesday, August 28, 2019 / by Client Care Coordinator
In simplest terms, a mortgage is a long-term loan designed to help borrowers purchase a house. It allows
individuals to become homeowners without making a large down payment and thus, fulfilling The American
Dream. Once you become a homeowner, a mortgage represents one of your life’s biggest financial commitments.
So it’s important to understand the structure of your payments — what percentage goes to principal, interest,
and taxes, and what you currently owe on your loan balance
I’m a first-time home buyer. Once I closed on my new home, when will my mortgage payment start?Mortgage payments usually start one full month after the last day of the month in which the home purchased closed. Unlike rent payments, which are usually paid in advance on the first day of the month, mortgage payments are paid in arrears. It means the payment is expected to be made at the end of the month. For an ins ...