Let’s simplify real estate terms to make home buying easier! 🌟🏡
Mortgage: A loan secured by your home. It includes the amount borrowed plus interest. 🏠💳 Down Payment: No need for 20% down; options start at 3.5%, with special programs for first-timers, med school grads, veterans, and more. 🗝️ Equity: The part of your home you actually own, calculated as the home’s value minus the mortgage balance. 🍰 Appraisal: A report that determines your home’s estimated value, used by lenders to ensure the loan amount is appropriate. 💰✨ Closing Costs: The final fees in your purchase, covering everything from down payment to taxes and insurance. 🎉 Contingency: A clause in your offer that allows for a home inspection to check for issues before finalizing. 🔍 Pre-Approval Letter: Shows sellers how much you can borrow, making you a more attractive buyer. 🌈 Clear to Close: Approval from the underwriter, green-lighting your closing date. 🎉🗝️
Today is a good day to get started, let’s embark on this exciting journey together. Reach out to Ashe County Realty today, and let our experienced team guide you through the real estate market. Whether it’s a cozy cabin in the mountains or a charming home in town, we will help you find the perfect place to call your own.