If you're just jumping into the game of home purchasing, you are likely considering all of your loan options and may even have heard the term mortgage lock. For those who don't like to gamble, a mortgage rate lock can offer a bit of reassurance, but there are also some downsides to this type of protection. Before signing off on this, here are the details on rate locks so you can make an informed decision.
With COVID and social distancing keeping people apart, buying a home unseen in person has become a real challenge. Digital tools and online presentations of homes for sale have ramped up in response, making it possible to see properties with both static images/photos and with "360 degree" views or interactive walkthroughs. However, these are not real-time images of the home itself. They are professionally-developed representations of a property, and a lot of software work goes into making those images marketing ready.
There can be a lot of excitement when it comes to the realization that you've inherited a home, but simply because it's an inheritance doesn't mean there aren't a few strings attached. Whether you're expecting to be gifted with a home in the future or you're currently going through this process, here are a few things you may need to watch out for.
Being a homeowner is exciting. It can be financially rewarding, too. Unfortunately, it can also put you in a tough legal position.
Buying real estate and or taking out a home loan is a significant milestone in life. Frequently, it means that a new phase is starting, whether it's a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To ensure a smooth transaction, home buyers should be sure to mind the following tips.