Real Estate

When buying a home, lenders almost always check your credit history to assess how likely you are to repay the loan. But what if you don’t have a credit history at all? Maybe you’ve never used credit cards, taken out a loan, or your credit profile is too thin to generate a score. If you’re asking, “Can you get a mortgage with no credit history?” the answer is yes—though it’s more challenging,...

Key takeaways: A broker’s open is an exclusive event for real estate agents, not the general public. It helps agents evaluate a property’s marketability and provide feedback to the listing agent and seller. Understanding the difference between an open house and a broker’s open can give sellers a strategic edge in negotiations. What is a broker’s open? A broker’s open, or broker open house,...

Key Takeaways You can sell your house during forbearance. However, you are still responsible for repaying your home loan. If the value of your home is greater than the amount you owe on the loan, you can sell your home and use the profits to cover the payments you missed while in forbearance. Refinance your mortgage: You may be able to get a lower mortgage rate or lower monthly payment if you refinance...

Key takeaways: No primary residence exclusion available: When selling a second home, you can’t use the primary residence exclusion that allows $250,000/$500,000 in tax-free gains. Multiple tax reduction strategies exist: Various approaches can help reduce your capital gains tax burden on second home sales. Key strategies include: Increasing your cost basis with improvements, potentially using 1031...

Selling a home can feel overwhelming, but a closing checklist for sellers helps keep everything on track. From gathering documents to scheduling the final walk-through and coordinating with your agent, lender, and buyer, it ensures a smoother, less stressful process. Whether you’re selling a home in Cedar Falls, IA, Morgantown, WV, or Flagstaff, AZ, this Redfin guide will walk you through a...

Applying for a mortgage is one of the biggest financial steps you’ll ever take – and while many applications are approved, not every loan makes it through underwriting. Naturally, that raises the question: How often does an underwriter deny a loan? On average, about 1 in 10 mortgage applications are denied. That means the majority are approved, but there are still a number of reasons why an...

Key takeaways:  Sellers sometimes agree to cover closing costs to attract buyers or speed up the sale, but this concession comes at a cost. On a $400,000 home, a 3% closing cost concession could reduce your net proceeds by $12,000. Raising the sale price to offset these costs may create appraisal or financing challenges, while also lowering the buyer’s financial commitment. Before...

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Key takeaways: Real estate contracts must include key elements like the offer, acceptance, and consideration to be legally binding. Missing or unclear terms can lead to disputes, delays, or even failed transactions. Buyers, sellers, and investors can avoid pitfalls by understanding essential contract elements and reading every clause carefully. Real estate contracts are the backbone of every property...

Key takeaways: Buyer concessions are seller-offered incentives that make a home purchase more affordable for buyers.  Common types include covering closing costs, repair credits, mortgage rate buy-downs, and HOA fees.  Concessions can help sellers attract buyers in slower markets and ease financial stress for first-time buyers. What are buyer concessions in real estate? When you’re buying a home, the...