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  2. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    Note too that after you’ve submitted an offer on a house, the property’s appraisal must meet or exceed the purchase price of the home you’re buying. Dig deeper: How much does a 1% mortgage ...

  3. Good faith estimate - Wikipedia

    en.wikipedia.org/wiki/Good_faith_estimate

    This is an upfront charge paid to the lender to get a lower mortgage rate – the same as “buying the rate down” 803 - Appraisal Fee; This is the cost of the independent appraisal. It is usually paid by the buyer. 804 - Credit Report; This is the cost of the credit report. The lender does not have to pass this cost along to the buyer.

  4. How to prepare for FHA appraisal requirements - AOL

    www.aol.com/finance/prepare-fha-appraisal...

    The home came through the appraisal well and you can move forward with the purchase. Low appraisal. The appraiser believes the home is not worth enough to secure the loan. The lender may still be ...

  5. Real estate appraisal - Wikipedia

    en.wikipedia.org/wiki/Real_estate_appraisal

    The leading appraisal organization for personal property valuation is the American Society of Appraisers which is a sponsor member of the Appraisal Foundation and awards the ASA (Accredited Senior Appraiser) designation to candidates who complete five years of documented appraisal experience, pass a comprehensive exam along with required ...

  6. How long does it take to buy a house? - AOL

    www.aol.com/finance/long-does-buy-house...

    Required documents typically include recent paystubs, tax returns and bank statements. Step 2: Go house-hunting. Once you’re preapproved for a mortgage, you’ll know how much house you can ...

  7. Broker's price opinion - Wikipedia

    en.wikipedia.org/wiki/Broker's_price_opinion

    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.

  8. How much does a home appraisal cost? - AOL

    www.aol.com/finance/much-does-home-appraisal...

    Property size. Generally, a larger property will cost more to appraise. Needed repairs. Expect to pay more for a home with extensive damage, because it requires extra effort on the appraiser’s part.

  9. Letter of credit - Wikipedia

    en.wikipedia.org/wiki/Letter_of_credit

    Standby letter of credit (SBLC): Operates like a commercial letter of credit, except that typically it is retained as a standby instead of being the intended payment mechanism. In other words, this is an LC which is intended to provide a source of payment in the event of non-performance of contract.

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