Tag: financing

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The Difference Between A Deposit And A Down Payment

Many of the terms used by real estate professionals are confusing when you are buying a home for the first time. In my experience, two of the most confusing and misunderstood terms used are “deposit” and “down payment.” They both require cash from a buyer. So, you may ask, “What’s the difference?

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When You Fall In Love With A Home That’s Pending Sale

What Does It Mean?
A house that is pending sale is not yet sold. The homeowner has an offer, but it has not yet closed. If financing falls through or the inspections reveal something that the current homebuyer is not prepared to deal with, the home could still be yours.

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Buyers Guide To Financing A Home

Setting A Budget The budget you would like to have and the budget you should have are two different things. Use receipts of past purchases to inform your budget. This will help you understand how much money you actually have to spend on housing. Tracking expenses will also give you insight about possible savings. Debt Reduction Debt to income ratio or DTI is something … Read More Buyers Guide To Financing A Home