Home buying jargon that a first-time home buyer should know – Buying a house can be an exciting time, but it can also be a confusing time when it comes to the jargon that is used for home lending. Finding financing that is suitable for your current financial situation is important, but it is easy to be stumped by the jargon that is used on your way there.
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Are you buying a first home but confused by jargon? Let us explain – If you’re a first-time buyer, chances are you’re bamboozled by the jargon involved in mortgages and home- buying. There are several initiatives around to give people a leg-up on the housing ladder,
Identify the actions related to buying a home and those for. – The number of actions needed included for home seller checks include employment records of the buyer, credit checks, historical verifications. When one shows inability to pay for previous loans , he/she would show characteristics of a defaulter and there is no home seller that would sell to someone that would not be able to pay.
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Wisconsin Department of Financial Institutions – Buying a Home: A Glossary of Terms. Thinking of buying a home, refinancing your home, or taking out a home equity loan? If any of these events are imminent in your future don’t let lender language be a barrier to successful borrowing. Preparing for any financing activity begins with learning the lingo of the finance world.
Real Estate Terminology for Home Buyers | Nolo – Real estate broker: A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and the power to supervise agents. However, in some states, the term "broker" is used for all agents.
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