House | Buying Terms

: Most lenders prefer your annual income to be between $100,000 and $125,000 to approve a $400,000 mortgage. Essential real estate terms you should know | Opendoor

: A deposit made to the seller to prove you are serious about buying the home. house buying terms

: The portion of the home's value that you actually own, calculated as the market value minus your remaining mortgage balance. : Most lenders prefer your annual income to

: The legal concept of ownership. The Title Deed is the physical (or digital) paper that serves as evidence of that ownership. : The legal concept of ownership

: A neutral third party that holds funds and documents until all conditions of the sale are met.

: The primary contract between a buyer and seller that outlines the price, terms, and conditions of the sale.