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Private mortgage insurance (PMI), paid by the buyer but may be reimbursed by the seller. Lenders will typically require that a mortgaged property be insured if the down payment is less than 20 percent, and will usually require that the first full year's mortgage insurance premium (MIP) be paid in advance by the buyer.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser. A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO. A BPO can be either an exterior drive-by or a full interior report.
This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. Since the HPI index only includes houses with mortgages within the conforming amount limits, the index has a natural cap and does not account for ...
Many in the real estate industry worry that first-time homebuyers — those who need expert guidance the most, and who are already severely hampered by high prices and high mortgage rates — will ...
Counties with a home rule charter may design their own form of county government, but are still generally subject to the County Code (which covers first-, third-, fourth-, fifth-, sixth-, seventh-, and eighth-class counties) or the Second-Class County Code (which covers second-class and second-class A counties).
The city of Erie received $76 million as part of the $1.9 trillion federal stimulus bill signed into law in 2021 by President Joe Biden to aid in the recovery from the COVID-19 pandemic.
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
Anyone with questions can visit the Erie Parking Authority’s website or call the authority at 814-456-7588. The authority handles enforcement of on-street and metered parking for the city.