What is an Over-inflated Appraisal and How Does it Affect Home Buyers?
An appraisal is an important number in the process of buying a home. The appraisal will tell the seller, lender, and buyer how much a home is worth. Since the purpose of an appraisal is to protect the lender and buyer from overpaying, it is usually part of the closing process of a home purchase.
What is EAHP? How Can it Help You with Homeownership in D.C.?
Homeownership in the nation’s capital is possible through a special program for DC government employees. Eligible employees can apply for financial assistance through the Employer-Assisted Housing Program (EAHP). The program provides assistance with down payment and closing costs toward an employee’s first home.
Can You Purchase a Multiple Home Property With an FHA or a HomePossible Loan?
Owning the perfect home in the perfect city, in the perfect neighborhood is a dream for most. What most are not aware of is that there are loans available for those who do not have as much cash to put down up front. FHA loans and the Home Possible loan are two types of loans which are alternatives to the conventional loan.
Reasons to Become a Landlord
Many people debate whether or not you should rent or buy a home. Many are happy renting. They have a place to live without any responsibilities that come along with homeownership. However, just as many people don’t want to waste their money by renting. They want to work on paying off their home and getting equity.
5 Questions All Listing Agents Should Ask Lender’s About The Buyer’s Pre-Qualifications
There is a lot involved in the process of obtaining a mortgage and buying a house, and all parties involved should keep in mind that they are all there to help each other. Everyone has specific areas of expertise, and they all expect to answer questions in order to ensure that the process runs as smoothly as possible from start to finish!
Three Most Important Numbers to Consider for a Mortgage Application
When you are ready to buy a home, most people realize that the first step in the process is obtaining financing for the purchase. After all, the amount that you are approved for ultimately determines which home you can buy. Many people begin by looking at numbers – the amount of their monthly income, how much of a down payment they can afford, and the approximate amount of the payments they can handle.