Signing a purchase agreement for a home is an exciting day for both buyers and sellers. After possibly months of searching for the perfect home, buyers can breathe that first sigh of relief knowing what home they're going to buy, at what price, and on what date. It's the first time buyers can start to [...]
Whether you finally got a bid after months on the market or you carefully chose an offer out of dozens on the table, one thing’s for certain: accepting an offer on a house is pretty darn exciting. Finally, you’re done! You can rest easy, stop with those showings, and move onward and upward to better [...]
What are these and why do I need them? Points are one type of fee paid at closing by you to your mortgage lender. There are two types of points: origination and discount points. Origination points are charged to recover some costs of the loan origination process. Depending on the lender, the origination point(s) may [...]
When you're a first-time homebuyer, the entire concept of closing costs may be elusive and intimidating. You know they're coming, but you have no idea what to expect. Luckily, a little knowledge can go a long way. Fees for loan application services and costs associated with your monthly mortgage—usually referred to as closing costs—can be [...]
Closing costs can be confusing. Not only do they cost you an additional few thousand dollars come closing day; they also cover fees and expenses you’ve likely never heard of, making them even more perplexing for a first-time buyer.