Mortgage FAQs

Yes, you can buy before selling through several tools. A bridge loan or buy-before-you-sell program taps your current equity to fund a non-contingent offer on the new home. A HELOC opened before listing is often cheaper. A sale contingency or a back-to-back closing can also bridge the gap, each with its own...

Check the HUD condo lookup for FHA approval, then have a local lender screen the building against Fannie's rules. Scaffolding, unfunded critical repairs over $10,000 per unit, thin reserves, or an all-cash sales history signal trouble. The association's questionnaire, often returned 20 days later, is the common deal-killer. Non-QM financing remains the fallback when a project...

A South Florida buyer typically pays 2% to 5% of the purchase price at closing when financing, or about 1% to 1.5% in cash. Expect documentary stamps on your loan, the intangible tax, lender fees, title insurance, and prepaid taxes and insurance. These costs sit on top of your down payment. #video-what-closing-costs-will-i-pay-as-a-buyer-in-south-florida# Start With an...

A listing agent should call the buyer's lender before presenting any offer to the seller. That conversation covers responsiveness, verification of income and assets, credit status, automated underwriting results, and loan commitment timelines. Most agents skip this entirely. They receive an offer, forward it to the seller, and ask, "What do you think?" without gathering a single...

A mortgage preapproval means a lender has verified your income, pulled your credit, reviewed your assets, and confirmed you can afford a specific loan amount. A prequalification is a rough estimate based mostly on verbal information you provide over the phone. Nationally, about 15% of homes under contract in late 2025 fell out of escrow, and financing problems were a top reason. In...