House Buying Terms Access

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

: A legal document that formally transfers ownership from the seller to the buyer. It must be signed by the seller and is typically filed with local government records. house buying terms

Real estate professionals often use specific "rules" to help buyers determine if they can afford a home: : The primary contract between a buyer and

: A guideline suggesting you should have a 30% down payment, spend no more than 30% of your income on mortgage payments, and the home price should not exceed 3 times your annual income. Real estate professionals often use specific "rules" to

: The portion of the home's value that you actually own, calculated as the market value minus your remaining mortgage balance.

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