Buying Process


Buying Process / Process of buying a house and mortgage terms

What is a VA loan?

A VA loan is a mortgage loan for people who have served or who are serving in the military. Although the VA doesn’t lend the money, it backs loans that ...
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What is an open house?

An open house is a time when home buyers can view a home for sale that is on the market. This is not a private tour—it's a pre-scheduled gathering where ...
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Buying a short sale home

Purchasing a short sale home isn’t the same as buying a foreclosed property, since the owner is actually selling the home to avoid foreclosure. It takes longer than a conventional ...
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Things I should do before getting pre-approved for a mortgage loan

You must be able to show your income to be pre-approved for a mortgage. Ideally, you would be on the same job for the past two years. Be prepared to ...
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What is a conventional mortgage loan?

A conventional mortgage is a loan that is not backed by the government, as an FHA loan is. Conventional loans usually offer better interest rates than FHA loans do because ...
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What is a jumbo loan?

In most areas of the country, a jumbo loan is a mortgage greater than conforming loan limits - those loans that conform to Fannie Mae and Freddie Mac guidelines for ...
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How to find a home appraiser?

One good way to find a house appraiser who can assign a value to your property is to go to the website of the American Society of Appraisers. This site ...
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How long does it take to close on a house?

It depends on your situation. Your purchase contract should specify a closing date. Typically, the time from signing the purchase contract to the actual closing date ranges from one to ...
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How to see price trends of homes in the neighborhood where you want buy?

Look up the houses that have recently sold (within the past 6 months) in the neighborhood you're interested in. Do this by typing, "recently sold homes" and then your city ...
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