The journey to homeownership is paved with paperwork, and at the very heart of this process lies a critical, yet often misunderstood, stage: mortgage ...
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The decision between a 15-year and a 30-year mortgage is one of the most significant financial choices a homebuyer can make, setting the trajectory fo...
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The choice between a 15-year and a 30-year mortgage is one of the most significant financial decisions a homebuyer or refinancer will make. This decis...
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The journey to homeownership is often symbolized by the quest for the perfect mortgage rate, but the financial responsibility extends far beyond that ...
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In the ever-evolving landscape of real estate financing, an often-overlooked option presents a unique opportunity for both buyers and sellers: the ass...
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A balloon mortgage can appear as an attractive, low-cost entry into homeownership, but it carries a unique set of financial risks that borrowers must ...
Read MoreYou cannot remove accurate negative information that is still within its reporting time limit. However, you can and should dispute any information that is: Inaccurate: The account isn’t yours, or the reported late payment is wrong. Outdated: The item is being reported past the 7-year (or 10-year) time limit. Incomplete: The information is missing key details. You can file a dispute for free directly with the credit bureaus online.
No, a pre-approval is a conditional commitment. The final loan approval is contingent on a satisfactory home appraisal, a clear title search, and no material changes to your financial situation (like job loss or new debt) between pre-approval and closing.
When you refinance your mortgage, your old loan is paid off and the existing escrow account is closed. The remaining balance in that account will be refunded to you, usually within 30-45 days after the payoff. When you sell your home, the escrow account is closed as part of the settlement process, and any remaining funds are returned to you after the sale is finalized.
You must ask the seller or their real estate agent directly. They should know the type of loan they have. The listing may even advertise “Assumable Mortgage” as a key feature to attract buyers.
Some closing costs are negotiable. You can often shop for services like the home inspection, title search, and homeowners insurance. You can also sometimes negotiate with the seller to pay a portion of the closing costs.
