For homebuyers who are struggling to come up with a minimum 5% down payment that conventional mortgages require, an FHA-backed home loan can sometimes be the best route to take. The criteria is also not as strict as conventional mortgage programs, which means stellar credit isn’t always mandatory to be accepted.
Coming up with a sizeable down payment these days can be pretty tough, especially when you consider the soaring home prices that buyers have been facing lately. Conventional mortgages require at least 5% down, but a minimum of 20% is needed in order to avoid having to pay the extra costs associated with private mortgage insurance (PMI).
When you buy a home, you have the option to include a home warranty in the sale of the property, or purchase it after the deal closes. These warranties cover the repair or replacement of any mechanical systems or major appliances that come with the home and are good for a certain time period.
Home inspections are important clauses to include in a purchase agreement. They provide buyers with the opportunity to uncover any potential issues with the property in question before signing on the dotted line.
It’s customary to call a real estate professional to help you when you’re on the prowl for a resale home, but what about if you’re interested in new construction? Isn’t it enough just to deal with the builder to choose a lot, select your home’s layout, and seal the deal? After all, you don’t have to deal with a seller or need a home inspection.
Holding an open house shortly after your home hits the market is a great strategy to attract prospective buyers. Make the most out of your open house by following these tips.
Popcorn ceilings were pretty popular from the 1950s through to the 1980s because they were affordable and made finishing a ceiling easy. But these days, popcorn ceilings – which are typically sprayed-on stucco – are nothing more than an outdated eyesore.
Out of all the questions that clients have when it comes to real estate transactions, how commissions are paid is one of the most common. Who’s responsible for paying the commission? How much is it? When and how is it paid?
All those tax returns that you’ve been filing over the years could one day prove to be very important documents if you ever decide to buy a home in the future. While they might just be gathering dust in your filing cabinets, at some point you might need to submit your tax returns to your lender in order to provide proof of your taxable income.
Just about every homeowner knows the danger of carbon monoxide and how it can build up in the home without offering any signs of its presence. It’s colorless and odorless, and can be deadly.
