As the buyer, you should make sure to bring a binder for homeowners insurance (document proving you have adequate homeowners insurance), a paid receipt for the first year’s premium and a certified or cashier’s check for your down payment and closing costs. Knowing your housing needs — and selecting a real… – Source
It also coaches homeowners, using video tutorials. “Applying for a loan modification is a stressful process that can take several months without a lot of communication back and forth from the lender,” Nurse said. “The best way to ease that stress is to know as much as you can about your… – Source
The median down payment for all home buyers was 11 percent, ranging from 5 percent for first-time buyers to 15 percent for repeat buyers. “To illustrate, the median price paid by repeat buyers in the survey was 2. 1 percent higher than in the 2010 study, but their income was 11…. – Source
Results are generated based on millions of data points including population demographics, housing trends, local points of interest, and school ratings. “Many industry studies show that home buyers start their search on the Internet before they contact a real estate professional,” adds Heithaus, a third generation real estate professional. “By offering… – Source
While many home inspection companies offer only handwritten notes at the end of the inspection process, Pillar To Post inspectors—who are required to complete an intensive two-week training course that includes a combination of both classroom and in-field training—end every inspection by printing off a computer generated report. “We take the… – Source
To understand the current and future picture for housing prices in your market, you need a sense of what inventory, employment and the current price picture looks like. Mortgage Rates. When demand is greater than supply, the difference between sales prices and list prices shrinks, or sales prices exceed list prices,… – Source
Is the contract sales price a fair assessment of the property value based on a well-prepared comparable market analysis (CMA) from your real estate agent as opposed to an online AVM? What do you do when the appraisal on the dream home you want to buy comes in below the price… – Source
American Home Shield’s website offers homeowners an interactive experience where they can review a range of options and custom-design plans based on the cost and coverage level that is right for them. “In today’s economy, home warranties make sense more than ever,” says Chapman. “Not only are they a great tool… – Source
Under the terms of the HPA, mortgage lenders or servicers must automatically cancel borrower-paid MI coverage when the mortgage has amortized to 78 percent of the original property value, with all unearned premiums returned to the borrower within 45 days of the cancellation or termination date. This provision also requires that… – Source
By simply spending a few hours researching how a mortgage works, and by shopping around for the most competitive rates and fees, buyers can save a lot of money. • Nearly half (45 percent) of polled prospective home buyers believe that they should always buy mortgage discount points when obtaining a mortgage…. – Source
Michael Collins and Collin ORourke of the PolicyLab Consulting Group and sponsored by MBAs Research Institute for Housing America (RIHA), examines the effectiveness of the predominant types of pre-purchase and post-purchase counseling and education, and discusses recommendations for future studies on the effectiveness of these programs. Over the past decade, concerns… – Source