Mortgages are like any other loan, except bigger. Getting a mortgage also comes with more up-front costs. What is a mortgage principal? The mortgage principal is the amount you are borrowing. How is mortgage interest calculated? Interest is the amount you pay for the...
When deciding on whether a pool should be on your house hunting wish list, balance these two factors: Any increase in the value of the house will be less than what it costs you to install, maintain, and insure a pool. That is true everywhere in the country. How much...
When you create an offer on a house, the Seller is going to ask you to prove that your mortgage will close on time. All you need is a pre-qualification, right? Nope. You need a pre-approval. A pre-underwritten mortgage is even better! What’s the difference? A...
Getting a pre-approval will help a buyer get their offer accepted. It’s simple; the seller wants to know that the buyer’s mortgage will close on time. That means a house hunter needs to have their pre-approval in hand when they begin house hunting. Murphy’s Law...
A pre-approval is a letter from a lender. It states that the lender will give this borrower a mortgage for up to the amount on the letter. A pre-approval states that earnings and debt and credit history have been reviewed and approved. A pre-approval benefits both...
Indoor plumbing has been a thing for a long time now. If you read about housing in the early 20th century, you will read about apartment buildings with one bathroom shared with several households. That is mostly unheard of now. Before 1980, many single family houses...
Purchasing a home is likely one of the biggest financial investments you're ever going to make. A loan officer will tell you how much you can borrow at a certain interest rate, but it's critical that you thoroughly understand how much you can realistically afford to...
You might still be some years away from wanting to become a homeowner, but if you ever want to make that dream a reality, it's important to start saving in advance. Having enough to cover the 20% down payment will make a huge difference to your buying options. You'll...
It can be easy to dismiss the idea that your property purchase is an investment. After all, there is an emotional attachment you make after you've made a house a home. The homebuying experts at NAEBA recognize a home purchase is likely the biggest purchase that you...
Finding the perfect home is difficult enough, but there are many more challenges to overcome once you've found it. It's likely you're competing with multiple competing offers, so now the challenge is FINDING A STRATEGY to make your offer as strong as possible. Many...
The National Association of Exclusive Buyer Agents (NAEBA) is committed to working solely for real estate buyers. Towards that goal, our brokers and agents want you to purchase your home for the best possible price. However, it is possible to make an offer that is too...