A bridge loan helps a potential homebuyer who wants to buy a new home before selling their current home. Most homebuyers plan to use the proceeds from selling an existing home as a down payment for a new home. Therefore, they will include this stipulation in the purchase and sale agreement when submitting an offer as a …
Learn the secret of adjustable-rate mortgages
With fixed rates up and home prices still on the rise, many Connecticut homebuyers are investigating adjustable-rate mortgages (ARMS), so how do you know if an ARM is right for you? Certainly, ARMs are not for everyone; however, in a rising rate environment, many first-time homebuyers will look to an ARM which may have …
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What you need to know about closing costs
What you need to know about closing costs When planning to buy a new home saving for the down payment and applying for a mortgage are usually top of mind, but there are other costs associated with paying for a new home. Closing costs are fees that the borrower must pay to third-party vendors who provide services …
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9 steps to becoming a homeowner
9 steps to becoming a homeowner As a first-time homebuyer in Connecticut, you might be excited to find your dream home but also intimidated by the process. Real estate terms can be challenging to understand. And then there is the preparation you must do to get financed. We get it. Understanding all that goes into the …
Purchasing a home is a significant decision
Purchasing a home is one of the most significant decisions you will make in your lifetime If being a first-time homebuyer is a journey, then a loan officer is the tour guide. And if this journey is one of the most significant you will make in your lifetime, the tour guide had better know the way. It is essential to …
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