by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
In a fixed-rate mortgage, the interest on the loan remains the same for the entire life of the loan. In most cases, the term for the loan is 15 or 30 years. With a shorter term loan, a homeowner is able to build equity faster. Due to the fixed rate, borrowers with...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
This is a strategy that is used by investors to purchase a home that needs work, make repairs and upgrades, and then sell for profit. It is typical that these homes are purchased for cash in an auction setting to be...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A real estate agent is a licensed professional in their working state to assist in buying and selling properties. Real estate agents are associated with real estate companies and are typically paid on commission. For a seller, a real estate agent can help a homeowner...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
An estate refers to all of a person’s possessions, including any real estate, bank accounts, investments, personal property, cash, and insurance policies. Real estate is commonly the highest valued possession in a person’s estate. When a person passes...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
The principal balance of a mortgage loan is the amount of the payoff. The principal is reduced with each monthly installment which also includes taxes, interest, and...
