What is a promissory note? It’s an important but often misunderstood part of getting a mortgage to buy a home.
The post What Is a Promissory Note? What You’re Really Promising, Revealed appeared first on Real Estate News & Insights | realtor.com®.
What is the first step in buying a home? Long before you peruse listings or check out open houses, you should talk to a lender about getting a mortgage.
The post What’s the First Step in Buying a Home? Your Answer Here appeared first on Real Estate News & Insights | realtor.com®.
Here’s the breakdown of everything you need to know about applying for a home loan when you’re self-employed.
The post Must-Know Facts for the Self-Employed Homebuyer appeared first on Real Estate News & Insights | realtor.com®.
Homebuyers are caught in a paradox. Even as home prices have begun to dip, the cost of purchasing a home has risen.
The post Home Prices Would Need To Fall This Much for Buyers To Get a Break appeared first on Real Estate News & Insights | realtor.com®.
Rising mortgage interest rates have hit homebuyers like a sucker punch—and they’re poised to deliver another bruising blow.
The post Homebuyers Are About To Suffer Another Devastating Blow: Interest Rates Climb Again appeared first on Real Estate News & Insights | realtor.com®.
Since lenders realize that buying a house does take time, pre-approval has a shelf life, but not an indefinite one. In general pre-approval is good for about three months.
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What are comps? Short for “comparables,” they help you figure out what a home is worth based on the selling prices of similar properties in the area.
The post What Are Comps? A Way to Pin the Right Price on a Home appeared first on Real Estate News & Insights | realtor.com®.
The housing market is in a scary place these days, but if the COVID-19 pandemic has taught us anything, it’s that things can change quickly.
The post Mortgage Rates Just Hit a 20-Year High—and That’s Not the Scariest Part appeared first on Real Estate News & Insights | realtor.com®.
Only 1 in 4 households can afford the median-priced home at current mortgage rates. Here’s how many more get locked out with every rate hike.
The post Yikes! Every Time Mortgage Rates Rise, Buyers Need To Make This Much More To Afford a Home appeared first on Real Estate News & Insights | realtor.com®.
What does mortgage pre-approval mean? It means a lender has guaranteed to give you a home loan.
The post What Does Mortgage Pre-Approval Mean? A Major Advantage When Buying a Home appeared first on Real Estate News & Insights | realtor.com®.