This just might be the biggest real estate decision that you’ve never heard of. Even seasoned homebuyers can get confused by title insurance, and why their lender requires them to purchase it. In short, title insurance protects homeowners against any defects found in your title and acts as a “safety fence” around the ...
Q&A With Security Abstract Q: What is title insurance and how can I find out how much it will cost? Is it mandatory even if I’m buying new construction? A: Title insurance is protection against loss if a covered defect is found in your title. When you buy a home, you are given a title...
If you didn’t find your dream home this past spring or summer, you just might be in luck. While it may seem counterintuitive, the holiday season is typically one of the best times of the year for buyers, and here’s why: 1. Home prices are typically at their lowest point of the year in December,...
Conventional wisdom suggests that you should purchase a home as soon as you can financially afford to do so – after all, real estate tends to be a strong, stable investment. But we recognize that buying a home doesn’t make sense for all people, and we encourage all of our clients to consider the following:...
If you’ve purchased multiple homes or have experience in the real estate industry, you might be familiar with the conventional wisdom that suggests buyers will save money if they settle at the end of the month. However, it’s not that simple – and many buyers may actually benefit more from closing earlier in the month....
Is fall the new spring when it comes to the real estate market? As borrowers rush to refinance or purchase their new home before November 8th, lenders around the country have been busy processing mortgage applications in time for Election Day. Spring tends to be the busiest time of year for the real estate market,...
When it comes to purchasing a home, there’s far more to it than the down payment! Buyers also have to shell out a pretty penny for other costs associated with purchasing a home, including appraisals, credit report fees, transfer tax, and title insurance. While these fees can quickly add up, a recent study by Bankrate.com...
Title insurance just may be the biggest real estate decision that you’ve never heard of! If you’re buying a home with someone else, there are three ways to take concurrent ownership: Tenancy by the Entirety (this option is exclusively reserved for married couples) Joint Tenancy Tenancy in Common. Tenancy by the entirety may be ...
If you’re obtaining a mortgage for your new home, you’ll likely be making a down payment. While some loan types don’t require a down payment (namely, VA or USDA loans), the vast majority of borrowers are required to pay at least 3.5% towards their new home at settlement time. If you’re able to pay 20%...
Quickly Purchase A Home Many of our buyers are curious about the timeline of a home purchase — after all, how long does it really take to get a mortgage and secure title insurance and make it to the settlement table? It depends largely on whether or not you’re securing a mortgage (you probably are),...
1st Time Buyer Program From Fannie Mae! Good news! Government mortgage giant Fannie Mae is beginning to offer to pay the closing costs for first time buyers (and anyone who hasn’t owned a home in three years). Move-in ready 3 bedroom home for just $172,900! Wondering what the catch is? We have more good news!...
Myths for A First Time Buyer As you might have guessed, there are a lot of myths surrounding the home buying process! Because laws, regulations, and standard practices change somewhat frequently, we find that information that first time buyers have received (usually from their parents) may be a bit outdated. The biggest myth involves the amount...
Settlement (also known as the “closing”) is the day that you officially take possession of your new home. It’s an exciting time and is usually hosted at a title insurance company or real estate agency. A few weeks prior to settlement, an exact time and location will be set up. We always have lots of...
For those who don’t know what’s happened in my life this past year, it’s been a tough one. My mom passed away in April 2019. My siblings and I were tasked with the BIG job of selling the family home. It was an emotional process, clearing out 59 years of family life. With blood, sweat...
Have you seen EveryHome’s nifty closing cost calculator yet? Not only can it calculate the approximate amount that you’ll need to bring to the settlement table, but it can also estimate your monthly mortgage payment! Under each home on our website, there is a blue button titled “Closing Costs” (click here for an ...
