An Escrow Settlement Statement, also known as the TRID form, HUD, or Escrow Closing Statement, is an important document in real estate transactions. This form provides a detailed breakdown of all financial transactions involved in the purchase or sale of a property....
In the real estate industry, the term “escrow” can refer to two distinct concepts with each an important part of the property buying process. If you are involved in buying a home, know the difference between “being in escrow” for a real estate...
Understanding the mechanics of loan assumptions and the role of escrow is crucial for home purchasers when navigating a transaction involving a conventional or VA loan assumption. A loan assumption occurs when a buyer takes over the seller’s existing mortgage...
A seller wrap real estate transaction, also known as a wraparound mortgage or simply a “wrap,” is a type of creative financing arrangement used in real estate transactions. In a seller wrap transaction, the seller acts as the lender, offering financing to...
Every house is unique; appraisers are trained and licensed for expertise in putting a value on properties. Appraisers don’t work for the buyer or the seller; their primary mission is actually to protect the lender who’s risking money against the...
You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you’ll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years....
