Remove HOA Remove Home Value Remove Market Value Remove Property Taxes
article thumbnail

Home Appraisals – What Do They Look For?

D Fritz Appraisals

Read on for more information about how a home appraiser determines the value of your property. What is a Home Appraisal and Why is it Important? A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property.

Appraisal 105
article thumbnail

Say What? Home-Buying Lingo You Should Know

Zillow

Comps : Or comparable sales, are homes in a given area that have sold within the past six months that a real estate agent uses to determine a home's value. Condo insurance : Homeowners insurance that covers personal property and the interior of a condo unit should damage occur. Lenders reward lower LTV ratios.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. Homeowners Insurance.

article thumbnail

Important Mortgage Acronyms

Assurance Financial

FMV (Fair Market Value). A home’s fair market value or FMV is the price it would sell for under normal conditions. FMV isn’t necessarily the sale price of a home, as other conditions can affect its final price. Municipalities often use FMV to determine the tax rate on a home.