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FHA mortgage limits
FHA mortgage limits FHA mortgage limits are the dollar amount limits for qualifying mortgages that the FHA will insure as part of its single-family home […]
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FHA funding fee
FHA funding fee The Federal Housing Administration (FHA) requires an FHA funding fee and a monthly insurance premium (MIP) for most of its single-family programs. […]
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Fannie Mae
Fannie Mae The Federal National Mortgage Association (Fannie Mae) purchases and guarantees mortgages from lending institutions in an effort to increase affordable lending. Fannie Mae […]
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Equity
Equity Equity is the amount your property is currently worth minus the amount of any existing mortgage on your property.
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Earnest money
Earnest money Earnest money is a deposit a buyer pays to show good faith on a signed contract agreement to buy a home. The deposit […]
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Down payment programs or grants
Down payment programs or grants A down payment grant or program typically refers to assistance provided by an organization such as a government or non-profit […]
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Down payment
Down payment A down payment is the amount you pay toward the home upfront. You put a percentage of the home’s value down and borrow […]
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Demand feature
Demand feature The Closing Disclosure has a statement that reads “Your loan has a demand feature,” which is checked “yes” or “no.” A demand feature permits […]
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