CHEAT SHEET FOR FIRST-TIME HOMEBUYERS
If You’re Considering Buying A Home, It’s Good To Know Some Of The Important Real Estate Terms That Come Up Throughout The Transaction. Here’s A Cheat Sheet For Some Of The Terms That You’ll Want To Know About.
AMORTIZATION Repayment Of Mortgage Through Monthly Principal And Interest Installments During The Loan Period
DTI (Debt-To-Income Ratio) A Ratio That Compares The Costs Of A Homebuyer To Their Gross Income
CLOSING COSTS Fees For The Purchase Of A Property That Are Due At The Conclusion Of The Sales Transaction
CONTINGENCIES Conditions Included Into A Property Purchase Contract That Safeguards The Buyer In The Event Of A Problem
COMPS Homes In A Certain Region That Have Sold In The Last Few Months That A Real Estate Agent Analyzes To Assess The Worth Of A Home
