A community lending program is a type of mortgage that helps people with low to moderate incomes buy a home by lowering the down payment, making credit requirements more flexible, and giving them money that traditional loans don't always give.
Community Seconds is a Fannie Mae program that lets approved nonprofits, government agencies, and employers give home buyers a second mortgage to help them pay for their closing costs or down payment.
A comparative market analysis (CMA) is a report that looks at similar homes that have recently sold or been listed in the same area to figure out how much a property is worth on the market.
In real estate, condemnation is the legal process by which the government takes private property for public use or says that a building is unsafe. The owner is then entitled to fair payment.
A condo association is made up of all the owners of units in a condo complex. It takes care of shared spaces, collects fees, enforces community rules, and keeps the building's common areas in good shape.
A condominium is a privately owned apartment or house in a larger building or community where owners share common areas, amenities, and maintenance responsibilities. These are managed by a homeowners association.
A construction loan is a short-term loan that pays for the cost of building a new home. The money is given out in stages as the work is done, and then it becomes a permanent mortgage or is replaced by one.
A contingent offer in real estate is a purchase agreement that has certain conditions, called contingencies, that must be met before the sale can close. This protects the buyer from unexpected problems.
A conventional mortgage is a home loan that the federal government does not insure or guarantee. It usually follows the rules set by Fannie Mae and Freddie Mac for lending.
Correspondent lending is a mortgage model where a lender originates, underwrites, and funds your home loan using its own money, then sells that loan to a larger investor after closing.
What you are paying for when you sit at the closing table On closing day, the majority of purchasers have one question they are hesitant to speak aloud. Which...
Why selling a house generates more paper than buying one When they enter a house for sale, the majority of consumers concentrate on the price. In actuality,...
