Related FAQs
Learn what a mortgage gift letter is and how it helps lenders confirm that the gifted funds for a down payment or closing costs are not counted as debt. Read more
Learn what a mortgage gift letter is and how it helps lenders confirm that the gifted funds for a down payment or closing costs are not counted as debt. Read more
Market value is the amount of money that a property would be sold for on the open market. This is determined by an appraiser based on its condition and comparable properties that have recently sold. Note that market value may not match the purchase price. Factors that affect market value on a home include: The house's age Location Square footage The number of beds and bathrooms Special features like a garage or pool What several comparable homes, or ``comps,'' have sold for recently In a hot housing market where homes receive multiple offers and sell quickly, you may be willing to pay more to keep up with or outbid the competition. More resources 10 factors that impact your home property value What does comparable sale or comp mean in real estate? A complete guide to what an appraisal is and the home appraisal process. Read more
Market value is the amount of money that a property would be sold for on the open market. This is determined by an appraiser based on its condition and comparable properties that have recently sold. Note that market value may not match the purchase price. Factors that affect market value on a home include: The house's age Location Square footage The number of beds and bathrooms Special features like a garage or pool What several comparable homes, or ``comps,'' have sold for recently In a hot housing market where homes receive multiple offers and sell quickly, you may be willing to pay more to keep up with or outbid the competition. More resources 10 factors that impact your home property value What does comparable sale or comp mean in real estate? A complete guide to what an appraisal is and the home appraisal process. Read more
Thinking short-term? A 5/1 ARM fixes the rate for five years, then adjusts yearly. Learn about lower initial payments, rate resets, and whether it fits you. Read more
Thinking short-term? A 5/1 ARM fixes the rate for five years, then adjusts yearly. Learn about lower initial payments, rate resets, and whether it fits you. Read more