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What To Know When Buying A Home
Part 1 of Paper
.... finding a home. Some prefer renting; yet, many prefer to buy a home. Buying a home can be exciting and perplexed. Getting the proper information can greatly help ease the anxiety and fears of such a great purchase.
The first step for a homebuyer is to understand the basic terminology used by banking institutions..... Part 2 of Paper
....nce on some loans.
Contract- binding legal agreement between two or more parties hat delineates the conditions for the exchange of property.
Deed- a legal document that formally conveys ownership of property from the seller to the buyer.
Equity- the value of property actually owned by the homeowner: purchase price plus depreciation, plus improvements, less mortgage and liens.
Federal National Mortgage Association (FNMA called Fannie Mae)- privately owned corporation created by congress that .... |
| Number of words: 972 - Approximate pages: 4 |
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