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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for: New construction loans. Reviewing / appealing property tax assessment. Property division in separation / divorce. Estate settlements. Tax implications for final probate.

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5 Expenses Homeowners Pay That Renters Don't

Zillow

So before you meet with a real estate agent, consider these five costs homeowners pay that renters don't - they could make you reconsider buying altogether. Property taxes. As long as you own a home, you’ll pay property taxes. Both lifestyles afford their fair share of pros and cons.

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Say What? Home-Buying Lingo You Should Know

Zillow

Closing : A one- to two-hour meeting during which ownership of a home is transferred from seller to buyer. A closing is usually attended by the buyer, the seller, both real estate agents and the lender. Closing costs : Fees associated with the purchase of a home that are due at the end of the sales transaction.

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Important Mortgage Acronyms

Assurance Financial

Instead of writing a check to put down your earnest money, you can send it to your real estate agent using an ACH. Municipalities often use FMV to determine the tax rate on a home. A home with a high FMV will have higher property taxes than one with a lower FMV. HOA (Homeowners Association).

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Build Equity Every time you make a mortgage payment, you build equity in your home. Think of equity as the amount of money your home is worth after what you owe is deducted. When your home value goes up and you start paying off the loan's principal balance, that builds equity. How Do You Qualify for HUD Programs?

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The Complete Guide to Buying a Home After College

Raleigh Realty

The challenges of buying a home as a recent college graduate are similar to that of buying a home as a government employee. These challenges can be overcome if you find a great real estate agent. Build Equity Your home will have a value assigned to it, and you'll be making mortgage payments.

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What’s Included in Closing Costs?

PennyMac

An escrow account is a special account that holds money for property taxes, premiums, homeowners insurance and mortgage insurance. Some lenders require you set aside a few months of property tax and mortgage payments in an escrow account as part of your closing costs. Property Tax. 0.50% of your loan value.