Information you may find helpful..

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1. APR: Annual Percentage Rate - The total cost of a mortgage, including fees.
2. ARM: Adjustable-Rate Mortgage - A mortgage with an interest rate that changes over time.
3. CMA: Comparative Market Analysis - An estimate of a property's value.
4. FHA: Federal Housing Administration - Insures loans for low down payments.
5. FSBO: For Sale By Owner - When the homeowner sells without a realtor.
6. HOA: Homeowners Association - An organization that manages shared properties.
7. MLS: Multiple Listing Service - A database of properties available for sale.
8. PMI: Private Mortgage Insurance - Insurance to protect lenders in case of default.
9. REO: Real Estate Owned - Properties owned by a lender after foreclosure.
10. ROI: Return On Investment - The potential profit from a real estate investment.
11. USDA: United States Department of Agriculture - Offers home loans for eligible rural properties.
12. VA: Veterans Affairs - Offers home loan programs for eligible veterans.

Real Estate Terms:

1. Appraisal: An evaluation of a property's value by a qualified professional.
2. Closing Costs: Fees associated with finalizing a real estate transaction.
3. Down Payment: The initial payment made by the buyer toward the purchase price.
4. Earnest Money (Trust Money): A sum of money paid by the buyer as a show of good faith when making an offer on a property. It's held in escrow until the closing of the transaction.
5. Escrow: A neutral account where funds are held during the buying process.
6. Equity: The difference between a property's value and the mortgage owed.
7. Inspection: A thorough examination of a property's condition before purchase.
8. Listing: A property that's officially on the market for sale.
9. Mortgage: A loan used to buy a home, paid back over time with interest.
10. Title: Legal ownership of a property.
11. Under Contract: A property that has an accepted offer but hasn't closed yet.

While other items may be needed, this is a list of common documents a lender may request:

Proof of Identity and Residence:

• Driver's license or government-issued ID
• Proof of your current residence (utility bills, lease agreement, etc.)

Proof of Income:

• Pay stubs for the past 2-3 months
• W-2 forms or tax returns for the past 2-3 years
• If self-employed, business tax returns and profit/loss statements

Employment Verification:

• Contact information for your current employer
• Recent pay stubs or an employment verification letter

Credit Information:

• Consent for the lender to pull your credit report

Assets:

• Bank statements for the past 2-3 months to verify savings and checking accounts
• Documentation of any other assets, such as stocks, bonds, or retirement accounts