Feb 27 2010
Buying a home in today’s marketplace is a bit intimidating.
» Escrito en Home, Other por Admin a las 02:35Buying a home in today’s marketplace is a bit intimidating.
Assumption
An agreement between buyer and seller in which the buyer assumes responsibility for the seller’s real estate agent existing mortgage. This agreement usually saves the buyer money because closing costs and the current interest rate, possibly higher, do not apply.
Buy-down
A method of lowering the buyer’s monthly payment for a short period of time. The lender or homebuilder real estate for sale subsidizes the mortgage by lowering the interest rate for the first few years of a loan.
Caps
A limit in the amount the interest rate or monthly payments for an adjustable rate mortgage that may change.
Popularity: 23% [?]
