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Earnest money deposit
| Глоссарий в сфере недвижимости и ипотеки |
Earnest money is a deposit (usually 1-2% of the home’s total purchase price) made by a homebuyer at the time they enter into a contract with a seller. earnest money demonstrates the buyer`s interest in the property and is generally deducted from your total down payment and closing costs.
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Fha mortgage, английский
Federal housing administration (fha) loans have been around since 1934 and are meant to help first-time homebuyers. the fha insures the loan, making it easier for lenders to offer the homebuyer a better deal, including a lower down payment (as low as 3.5% of the purchase price), low closing costs, and easier credit qualifying.
Comparable sales, английский
Comparable sales are used by an appraiser to establish how much a home is worth based on what other similar homes in the area have sold for recently. only homes that have legally closed count as a comp -- and most lenders and insurance providers require appraisers to use at least three closed sales.
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