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Find a Type and Location For Your Property

clock March 28, 2014 09:46 by author MyTitleDirect
The next step in the home buying process will be to find out where you want to live and what type of home you want to live in. A.    Choosing a location you want to live in is very important. Maybe you’ve always wanted to live by the beach, in the big city or a little closer to your retired parents. Most buyers have a general location where they want to buy a home. Try to narrow your search down to a few neighborhoods, like a specific zip code or county. Having an idea of where you want to live will give you the best chance of finding the home you want.   Read the rest of the article on BuyHomeApp.com


What is a home appraisal and why do lenders need to know a home’s value?

clock March 20, 2014 07:35 by author MyTitleDirect
An appraisal is a report that outlines an appraiser’s professional opinion of your property’s value at a specific point in time, based on specific factors. These factors include the location of the property, square footage, age and room count. The appraiser will also take into account what comparable properties have recently sold for in your area. Whether you’re refinancing or buying, a bank must have a good idea of the value of your home because it determines your maximum approvable loan amount. Once they have your home’s value, they can determine your loan-to-value ratio. Your loan-to-value ratio is one of the criterions that banks use to establish how your mortgage will be structured - the other two being your credit score and your debt-to-income ratio. How much do appraisals cost?   Read more of this article on BuyHomeApp.com