Definition: first time home buyer A first time home buyer is an individual who has had no ownership in a... read more →
There comes a time in most people’s lives where they look around at the home they once thought was perfect... read more →
Paint Like a Pro: How to Paint a Room Here are some tips and tricks if you want to paint,... read more →
Moods and Colors Colors of your room are often a reflection of your personality. However, did you know that colors... read more →
One of the most taxing parts about moving is packing. You never realize how much stuff you actually have until... read more →
Every year, PANTONE releases a color of the year, which is a symbolic color selection that shows a color snapshot... read more →
First Time Homebuyer Mistakes Many first-time homeowners don’t know what to expect. Many people make mistakes that can ultimately prevent... read more →
When getting pre-approved, there are some documents that you might be asked for. Documents needed for a mortgage pre-approval: Proof... read more →
[av_one_full first min_height='' vertical_alignment='' space='' custom_margin='' margin='0px' padding='0px' border='' border_color='' radius='0px' background_color='' src='' background_position='top left' background_repeat='no-repeat' animation='' mobile_display=''] [av_textblock size=''... read more →
Definition: HUD The United States Department of Housing and Urban Development, otherwise known as the HUD, is a Cabinet department... read more →
Selling your house is an important and time-consuming task. Here is a timeline to follow to help you in the... read more →
When making the decision to sell your house, you may be wondering if you need to repair anything in your... read more →
A Few Quick Tips on Avoiding Stress When Buying a Home Buying a home can be a stressful process. Here... read more →
Definition: property address The property address is a way to define or pinpoint where a piece of property is located.
Definition: processing fee A processing fee is a fee charged to process a loan application, including applications for credit checks,... read more →
Definition: principal balance The principal balance is an amount owed in order to satisfy the payoff of the underlying obligation,... read more →
Definition: pre-qualification Pre-qualification is the initial evaluation of credit worthiness of a potential borrower that is used to determine the... read more →
Definition: pre-approval Pre-approval is the evaluation of a potential borrower by a lender to determine whether the borrower qualifies for... read more →
Definition: payment cap A payment cap is a set upper-limit on the interest rate to protect you when getting an adjustable-rate... read more →
Definition: origination fee An origination fee is a fee charged by a lender entering into a loan agreement to cover... read more →
Definition: mortgage insurance Mortgage Insurance is a policy that compensates lenders or investors for any losses incurred due to the... read more →
Definition: lien A lien is a legal right to the possession of a property owned by another person until a debt owed by... read more →
Definition: jumbo loan / jumbo mortgage A jumbo loan, or jumbo mortgage, is a home loan that exceeds conforming loan... read more →
Definition: joint ownership Joint ownership, or joint tenancy, is the right of ownership held by two or more individuals, in... read more →
Definition: investment property An investment property refers to a property in which the owner uses to earn money through rentals, for... read more →
Definition: HUD loan HUD loans are made available for people who are dedicated to financial responsibility and restoring their financial... read more →
Definition: MLS (multiple listing service) A multiple listing service, or MLS, is a service that provides a searchable database of property... read more →
Definition: home price index A home price index is a tool that measures changes in single-family home prices in a... read more →
Definition: good faith estimate A good faith estimate is the estimate of fees due at the closing for a mortgage... read more →
Definition: flood certification A flood certification is a document that states the flood zone status of a real estate property,... read more →
Definition: fair market value Fair market value is the estimate of the market value of a property. FMV is based... read more →
Definition: FHA Loan A FHA loan is a mortgage issued by federally qualified lenders and insured by the FHA. FHA loans... read more →
Definition: FHA FHA stands for Federal Housing Administration. The Federal Housing Administration is a government agency that sets standards for construction, underwriting,... read more →
Definition: escrow Escrow is the monetary assistance offered by a third-party on behalf of the transacting parties.
Definition: equity Also known as real property value, equity is the amount the owner would receive after the property is... read more →
Definition: earnest Earnest, or earnest money, is an amount of money paid to confirm a contract.
Definition: deed of trust A deed of trust is a deed where a legal title in real property is transferred... read more →
Definition: credit (loan related) Credit is a contractual agreement when a borrower receives something of value now and agrees to... read more →
Definition: contingency A contingency is a provision in a real estate contact that details that the contract would cease to... read more →
Definition: construction loan A construction loan is a short-term loan which is used to finance building a home or other... read more →
Definition: closing agent A closing agent is an impartial third party who oversees the final details of a real estate... read more →
Definition: closing Closing is the final step in a real estate transaction, also known as a completion or settlement.
Definition: closing statement A closing statement is a document used in real estate transaction, which details the fees, commissions, insurance,... read more →
Definition: co-borrower A co-borrower is any additional borrow whose name will appear on loan documents and whose income and credit... read more →
Definition: cash out refinance A cash out refinance is the replacement of your first mortgage, where the interest rate is... read more →