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Curious about 'Home Inspection'? It's a detailed examination of a property's condition, offering valuable insights before you make the big move. Think of it as a thorough check-up for your potential home, ensuring you make an informed decision on your journey to homeownership.
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Let's talk 'Appraisal'—the home's report card! This report determines its market value, helping you and your lender make informed decisions. It's like a helpful guide on your homebuying adventure, ensuring you're on the right track to your dream home. #MortgageVocabulary
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Unlocking the mystery of mortgages! APR, or Annual Percentage Rate, is your total cost of borrowing, including interest and fees. Knowing your APR helps you make informed decisions on your home financing journey. #Mortgage101 #FinancialLiteracy
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Navigating the homebuying process? Familiarize yourself with "Closing Costs." These are the fees and expenses you'll incur during the final stages of a real estate transaction, so budget accordingly to streamline your homeownership journey. #MortgageVocabulary #HomeBuyingTips
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Let's chat about the 'Deed of Trust'—your homeownership hero! This document secures your mortgage by giving your lender an interest in your property. It's like a pact, ensuring a trustworthy partnership on your exciting journey to owning a piece of the world. #MortgageVocabulary
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Understanding your financial health is key in the mortgage game. The Debt-to-Income Ratio, or DTI, is a crucial metric lenders use to assess your ability to manage monthly payments. Keep it low for a smoother path to homeownership. #MortgageVocabulary #FinancialFitness
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Navigating the path to homeownership? Familiarize yourself with 'Down Payment.' It's the initial upfront payment you make when purchasing a home, a crucial part of the homebuying process. Plan wisely to pave the way to your dream home. #MortgageVocabulary #Homeownership
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Ever heard of 'Earnest Money' in real estate? It's a deposit you provide to demonstrate your serious intent to buy a property. Offering earnest money can strengthen your offer and show sellers you're committed to the deal. #MortgageVocabulary #RealEstateTips
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Curious about 'Escrow' in the homebuying journey? Think of it as your trusty middleman! It's a safe account where funds are held during the sale, giving you and the seller peace of mind. It's like having a financial BFF for a smooth ride into your dream home! #MortgageVocabulary
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