Definition: closing costs Closing costs are the fees paid at the time of the closing of a real estate transaction.
Definition: mortgage rate lock A mortgage rate lock is an agreement between the borrower and lender that allows the borrower... read more →
Definition: rental property A rental property is a property which the owner receives payment from tenants in return for using... read more →
So, you’re getting ready to sell. An important next step is getting your home inspected. Here are some steps to... read more →
Clutter is something that everyone has to deal with. When you want it to be gone, here are a few... read more →
Are you one of the lucky people who has an extra room in your house? Are you uncertain what you should... read more →
Definition: rent (verb) To pay someone for the use of something or occupancy of somewhere.
Definition: property tax A property tax is a levy on the value of the property by government authority.
Definition: (home) buyer A home buyer is a person who is looking to purchase a new home.
Definition: zoning Zoning is the regulation of the use of real estate property by local government, restricting property to residential,... read more →
Definition: condo Short for condominium, a condo is on of a group of housing units, in which each homeowner has... read more →
Definition: (home) seller A (home) seller is the person who puts a home on the market for sale.
Definition: debt-to-income ratio (DTI) A debt-to-income ratio, also referred to as DTI, is a way a lender measures an individual’s... read more →
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 →
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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 →