House Buying — Terms

: The legal concept of ownership. The Title Deed is the physical (or digital) paper that serves as evidence of that ownership.

: The portion of the home's value that you actually own, calculated as the market value minus your remaining mortgage balance. house buying terms

: A framework suggesting you have three months of living expenses saved, three months of mortgage payments in reserve, and have compared at least three properties. : The legal concept of ownership

: A legal document that formally transfers ownership from the seller to the buyer. It must be signed by the seller and is typically filed with local government records. : A framework suggesting you have three months

: Most lenders prefer your annual income to be between $100,000 and $125,000 to approve a $400,000 mortgage. Essential real estate terms you should know | Opendoor