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The Path to Your Home: A Practical Guide to Home Buying

The Path to Your Home: A Practical Guide to Home Buying
Learn from experience before you buy a house. Home buying can be confusing. How can you get on the right track? By learning the process. Written by a five-time home buyer, The Path to Your Home gives you plain English descriptions, simple definitions for real estate jargon, tips from eleven experts (real estate agents, mortgage lenders, financial advisors, a settlement agent, an attorney, an insurance agent, and a home inspector), things to consider and questions to ask, convenient charts, websites, programs, and publications. Prepare yourself. Know the basics.



Tips and Traps When Buying a Home by Robert Irwin,
Tips and Traps When Buying a Home by Robert Irwin,
The ultimate guide to worry-free home buying Can you afford to buy a home? Should you buy a single-family home, a co-op, or a condo? Do you always need a sizable down payment? How can you be sure you're getting the best possible deal? This completely updated new edition of Robert Irwin's classic guide for homebuyers provides authoritative, often -surprising answers to these questions and many, many more. You'll find out how to get a great deal on a home, whether the market is rising or falling; how to get a lender to put up all (or most) of your purchase price; and how to avoid getting caught in a bidding war over your dream home. "Tips and Traps When Buying a Home, Third Edition gives you practical, step-by-step information; proven home buying strategies; and indispensable advice current market conditions, new rules and regulations, and recent changes in lending practices. Whether you're buying your first home or your fifth, you'll learn plenty that you need to know, including how to: Boost your credit rating Make successful counter offers Get the best mortgage in town Save money by buying direct Analyze a home inspection Avoid getting gouged at the closing Robert Irwin is one of America's most respected experts in all areas of real estate and the author of more than 20 books, including the bestsellers in the McGraw-Hill Tips and Traps series. To date, his real estate titles have sold more than one and a half million copies.



Hard money lender - Hard money lenders are lending companies offering a specialized type of real-estate backed loan. Hard money lenders provide short-term loans (also called a bridge loan) that provide funding based on the value of real estate that has been collateralized for the loan.

Good faith estimate - A mortgage lender is required by the Federal Real Estate Settlement Procedures Act to provide you with a good faith estimate of the fees due at closing within three days of applying for a loan.

Equity loan - An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.

Commercial mortgage - A Commercial Mortgage is a loan made on real estate collateral, other than a residential property, in which a mortgage is given to secure payment of principal and interest, or just interest alone.



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