Contracts

The Two Most Important Criteria to Securing a Home Loan

So you've agreed on a price for your new dream home and now all you need is to secure a home loan. This lengthy, detailed process involves mounds of paperwork, but in essence the whole thing can be boiled down to two pertinent factors—creditworthiness and debt-to-income ratio. These are the primary criteria used by banks [...]

Glossary of Real Estate and Financing Terms

A Adjustable Rate Mortgage (ARM): A mortgage loan that allows the interest rate to fluctuate over the maturity of the loan. Two of the benefits of an ARM are that the initial rate is lower than most other types of loans and these loans are usually assumable. Adjustment Period: The length of time between an [...]

By |2016-10-18T02:23:02+00:00April 23rd, 2010|Contracts|

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