A home inspection examines a home’s condition to find any major safety or structural issues. Inspections usually look at a home’s...

Appreciation is a home’s increased value over time. Historically, real estate appreciates from 3% – 5% each year nationally Considering...

A purchase agreement is a contract between a buyer and seller stating the terms of the home sale. It may stipulate conditions like sale...

A bridge loan is a temporary loan used while permanent financing is being secured. Bridge loans often have higher interest rates. They...

Amortization refers to a payment schedule outlining what goes toward principal and interest balances. Typically, payment goes toward...

Blanket mortgages cover more than one plot of land financed by the same borrower. This can help save time and money. For example, a...

Compound interest accumulates from both your principal balance and interest owed. On a loan, this means you will progressively owe more...

The government retains the right to take private property and convert it for public use if it compensates the owner fairly. This right is...

A homeowner’s association is a private association that manages a planned community or condominium. When you purchase a property that is...

Private mortgage insurance is a policy that protects your lender in case you default on your loan. Usually, if your down payment is less...

A buyer’s agent represents the buyer’s interests – finding a home within budget that matches their preferences. The listing agent...

Lenders use this index to adjust their interest rates on adjustable-rate mortgages. COFI uses changing economic conditions to provide a...

A contingency is a condition that must be met before the sale is legally binding. For example, a buyer can make their offer contingent on...

When a buyer and seller agree on a purchase agreement, the home moves to “under contract” status. This means both parties are legally...

A Seller’s Disclosure is a legal document sellers must fill out stating any home defects that may affect its value. Requirements on what...

Assessed value is a professional estimate of a home’s market price for property tax purposes. Similar properties, the home’s location and...

The real estate market will vary in who it favors: buyers or sellers. In a buyer’s market, conditions favor those looking to purchase...

Amortization is the schedule of your mortgage payments spread out over time. In real estate, a buyer's amortization schedule is usually...

Blanket mortgages cover more than one plot of land financed by the same borrower. This can help save time and money. For example, a...

If a buyer wants a home already under contract, they may request to be “next in line” by submitting a backup offer. Backup offers must...