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Going to Extremes

Appraisal Buzz

Does the cost of homeowners insurance affect the price of a home? In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. In some markets, the answer is increasingly yes.

HOA 195
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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. They are also used to assess the value of the home for home improvement loans and insurance evaluations. What is a Home Appraisal and Why is it Important?

Appraisal 106
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5 Expenses Homeowners Pay That Renters Don't

Zillow

Homeowners insurance. Homeowners insurance protects you against losses and damage to your home caused by perils such as fires, storms or burglary. It also covers legal costs if someone is injured in your home or on your property. Homeowners insurance is almost always required in order to get a home loan.

HOA 36
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Say What? Home-Buying Lingo You Should Know

Zillow

Cancellation of escrow : A situation in which a buyer backs out of a home purchase. Capacity : The amount of money a home buyer can afford to borrow. Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.

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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. FHA Mortgage Insurance Premium. If you’re using an FHA loan for your mortgage, you’ll need to pay the mortgage insurance premium (MIP) upfront as part of your closing costs. Escrow Deposit.

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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. They just oversee the process.

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5 Key Property Features When House Hunting

PennyMac

Potential property value increase: According to the sales comparison approach (SCA), one of the most recognizable forms of valuing residential real estate, a “finished” garage that feels like an extension of the home’s indoor living space is one of several features that can increase overall home value.

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