MORTGAGE term The term o f you r mo r tgage loan is how long you have to r epay the loan. Fo r most t y pe s of homes, mo rt gage t e rms are typ ical ly 15, 20 or 30 yea rs. Q ListReports• @ © Lis tReports 2021 , all rights reserved ,..--' lil B IIIll I ljf 11 1!:,t l .J lii I ! ~J!,e -, Ill i~l!S ~•~ 1j,,111-~:11 111 ;~iii
• DTI = Debt-to-income Debt expenses + Monthly housing payment Gross monthly income • Li stReports • © ListReports 2021 , all rights r eserved
MORTGAGE closing disclosure A fina l account in g of a loan's i n t eres t ra t e and f ees, clos i ng costs, month ly mortgage p aymen t an d t he grand to t al of all p ay ment s an d f inance cha r ges. ListReports" © Lis tRe ports 2021 , all ri g hts reserved_ Sou r ce : n.erdwalle ---- ----- -- -- -_..,::_-- - : _ ill
housing market ListReports• @ © Li ,tReport, 2021 , oll rights reserved ' . \1. \ C. ' * lntere;~ rates * * Speculative demand * * Supply of housing * * Economic growth * Source: economicshelp.org
MORTGAGE seller concessions Certa in costs assoc iated w ith home b uyin g t ha t t h e se ll e r ag r ees to p ay. Can in c lu d e cos t s r e lat ed t o n ee d ed r e p a ir s and/o r clos ing costs/f ees . Q Lis t Reports ® © Lis tRe p orts 2 0 22 , all ri g hts rese rve d ,t 11 1 1, • • ,I I \ Irbes . com
MORTGAGE preapproval letter A do cument fro m a lender sta t ing tha t the le nder is te n t atively w ill ing to len d t o you, u p to a certa i n loa n amount. Th is d ocument is not a gua ra n tee d loa n offer. Q ListReports • @ © Lis tRe ports 2021 , all ri g hts reserved • • . ' So u rce : co nsum erfinance .gov
MORTGAGE principal The port ion of yo u r mon t h ly payme nt that is used to r e duc e your ac t ua l loan ba lance . G> Li st Re port s• @ © ListReports 2022 , all ri ghts reserve d---'Sou rce: The Mortgage ~ cyclop ~dj a: , . .
1. Know how much you can afford to spend on a house 2. Create a budget 3. Automate your savings e , all rights reserve d
HOMEBUYING MYTH Bu ying a h ouse requ ires a 20% down p ayme n t . ListReports• ·-:: L1s.tRc-ports 2022, all rl(Jhts. reserved ., .. I I I . ,..,, . • ·~. 1111!'
Even if you previously owned a home, you (or your spouse) may still qualify as a first-time home buyer. G> ListReports· ct.i51Repo,ts 2022. BIi riohts ,~
• WHAT KIND OF HOUSE WEIGHS THE LEAST? A LilG!HlT H OUSEo lis tRe po rt s • 'l1stRcports 2022. au ngh1s reserved •
MORTGAGE equity In home o wne r sh i p, e q ui t y re f ers t o h ow m u c h o f y o u r home y o u act u al ly ownmean i ng h o w much o f the pr i nc i pa l loan you've pa id off. Qi Li stRep o r ts e © List Re po rts 2 0 22 , a ll ri ghts re se rved
HOMEBUYING MYTH L ook ing for a house is t he f i rst s t ep in the homebuy ing process . ListReports • ListRepo,1s 2022. al l ri ghts reserved Source: real tor.com
Using the equit Y, in y: ou r, liome fo r, low-cost loans for; otlie ri e urr:2 oses Gener.all y: lower, inter.est rates tnan ot li e r, t Y,e es of consumer; loar.,s ffili e interest is generall Y, tax-deductible ~ : ListRepor ts _.._,.:~~=- .. • <s:ListRep<>rts 2021, all !ights reserved Source: homeadvisor.com
What do you call a real estate agent who secretly moonlights as a detective? Sl10rlock Homes. ListReports• '&: L1stReports 2022. an rights rese, ved
BATHROOM TREND ALERT LILAC AND PURPLE HUES • . G listReports' CiLtstROPQ(lS 2022• all fights reso,vod Source: homesandgaroens.com
WHY WA9 Tl-I[ ROOF LONELY? . l • I '''i,Y r .... IT n
MORTGAGE Assessed value How much a home is wo rt h accord i ng to a pu b lic tax assesso r . Li stRe po r ts• i:;L,s tRepo rts 20?2 . all 11gh ts rese,ved
Similar but different terms you may be seeing in headlines right now Used mi t¢t4K4-~m lt:wk:14-t:> llru llit•1M i,1liMi m1Wi<4d·'4W s UstRepor 2 2. ell n h Deceleration Used to express an i ncrease in home prices , but at a slower pace . SolWce: keeplngcurren.tms tters com
MORTGAGE Amortization The pr o cess of com b in ing inte r est and pr inc ip a l in paym en t s rather than on ly pay in g off i n t e res t at the start, allO\N ing yo u to bu i ld more equ ity in your home early on . ListReports• i:;L,s tRepo rts 20?2 . all 11ghts rese,ved • /., • • . , /j,.'. ':.i,~ r ~: r.0 . ~Jt-·· r1,itJ'L , 'i.:4 .. ,, ,, •
.. , .. . 4" ., • ~~11 . 111:.->!· ' -- ~ --.,, :·• ··/•', .f!J\.: ·-· .....-..:.·.:..., ;¥_. . !'--:., ,,:.~•-' .... HOME SELLING MYTH Home listed values on li ne accurate.
HOME SELLING MYTH Selling homeyo ur will yourself save you money.
9 0 % of people hate carpeting . The other 10 % just hate your carpeting . Ci) ListReports• ClUstReports 2022 . au rights reserved . . ' . . ..,, ::Qlf • ~:;..,
HOMEBUYING MYTH If you don 't hove ch il d re n, the schoo ls in t he area don 't matte r. ListReports· ,~, L1stRepo,ts 2022 oll nghls reserved iWJ ,1 , IlfJI] _/ 1) unTITIU I ' - ...I _. ~/ijj/1
HOMEBUYING MYTH Your only up -f ront cost when buy i ng a home is t he down payment. ListReports· ,~, L1stRepo,ts 2022 oll nghls reserved
MORTGAGE DTI (Debt-to-Income ratio) Th e debt -to -i ncome (D TI ) r at io i s the pe r centage of you r gross month ly income th at goes to pa ying your month ly debt pa yments and i s use d by le nd e rs to determ i ne yo ur borrow i ng ri sk . ListRepor ts" @ © Lis tReports 2022 , all ri ghts reserve d Source: investopedia.com
HOMEBUYING MYTH You don't need a home i nspect ion .
HOMEBUYING MYTH Your only ongo ing cost w i ll be you r mo rt gage payment. ListReports' ::t,s.t Rc-f)O(ts 2022, all rl(Jht s reserv0d Sou,c~: moneytalknews.com
HOMEBUYING MYTH T he lowest in te r est r a t e is a lw a ys bes t . G ListReports ' ,,::L1stReports. 2022 alt 11ghts re,s.0rve-d Source: moneyta lks.nevJS.corn
+ '\. ' Professional listing photos '" +r • • "Stage your house 1ns1de & out ~', ,,,Be flexible with showing your home ,,,""" r Set" the right price for your sale I,. . ,. Offer+ virtual tours for buyers (check my caption for the most important tip!} ListReports @ llstReports 2022, all rights resff\/Qd Source : HGTV.com
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~')J J1L 1 ~p JJ.L '1J1:!~ F Dli ;\ }JJJ1-:iJI lD;\1\1~ DO NOT SWITCH BANKS. DO NOT BUY A NEW CAR. DO NOT APPLY FOR NEW CREDIT CARDS. Li st Repor t s• :ustRcpo!ls 2022. a1111gt1ts rcsc-rvco l ••• ••• 1_.•• ii\ II II DO NOT GET BEHIND ON YOUR BILLS. DO NOT MAKE UNUSUALLY LARGE BANK DEPOSITS. •
