How Long Is a Home Loan Pre-Approval Letter Valid?
As a rule, homeowners and real estate agents ask for proof that a lender has pre-approved a buyer for a mortgage before they agree to show the property they have on the market. The practice protects the seller from unsavory surprises. It also clarifies for home buyers the ...
How to Buy Real Estate With a 401(k)
Diversifying assets to include real estate can help you spread risk across a mix of investments. Whether buying property for direct use or for rental income, your 401(k) might be a funding source. ...Read More
What Is a First Trust Deed?
A first trust deed is a document used by mortgage lenders to establish its priority lien on a property. If you default on your home loan, this deed protects the lender and ensures it has priority ...Read More
What Automatically Denies a Mortgage?
Mortgage lenders reject about 30 percent of home loan applications and 50 percent of refinance applications, according to Bankrate.com. Mortgage lending guidelines have tightened in recent years, and ...Read More
Hard-Money Loan vs. All-Cash Offer
Sometimes, traditional bank financing isn't available for a real estate transaction. This can happen for any number of reasons, but the upshot is the same: If you want to purchase a home, you may ...Read More
Closing Cost Rules
The most enjoyable part of homebuying is supposed to be the closing. But all too often, buyers have been met with settlement fees far higher than they'd anticipated. The disappointment and ...Read More