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Key takeaways: Local tax collectors use the assessed value to figure out your yearly tax bill, while lenders use the appraised value to approve your mortgage or refinance loan. It is normal for the appraised value to be higher than the assessed value because tax...
Key takeaways: Mortgage brokers act as a link between you and multiple lenders to help you compare rates and find the best loan for your specific situation. Working with a broker often provides more options than a direct lender since brokers can shop around at...
Key takeaways: A settlement statement acts as a final receipt that breaks down every cost, credit, and fee in your real estate transaction. It shows exactly how much the buyer needs to pay to close and the net profit the seller will receive. Most buyers receive a...
Key takeaways: Buyers usually pay for loan-related fees and inspections, while sellers cover the real estate agent commissions and transfer taxes. Closing costs typically range from 2% to 5% of the purchase price, but in California, higher property values and local...
Key takeaways: A flag lot is a piece of land behind another property that connects to the street via a long, narrow driveway. These properties offer greater privacy and lower land prices, but often require shared-access agreements and have less curb appeal. Lenders...
Houses come in all shapes, sizes, and stories. And truthfully, the stories are where things get interesting. Hidden staircases? They exist. Mansions with zip codes of their own? Also real. The world of real estate has its fair share of surprises, and these fun facts...
Buying a home on one income feels like trying to win a tug-of-war alone, especially for first-time home buyers in California. You can do it, but it takes serious effort. Bring in a co-borrower, and the rope starts moving your way. A co-borrower shares the loan...
Building wealth through real estate sounds easy until it is time to buy your first property. Then the questions start piling up. Should you begin with a single rental or save for a multi-unit property? You might worry about choosing the wrong neighborhood, borrowing...
At ID Mortgage Broker, we believe homeownership is a right to which everyone is entitled, regardless of residency status in this country. For those with no Social Security Number but an Individual Taxpayer Identification Number, ITIN mortgage loans are a legitimate...
With all the options available for mortgages, it can undoubtedly be overwhelming; this is why we at ID Mortgage Broker work so hard to make it easier and more personalized to your financial situation. One innovative option is the asset depletion mortgage. This loan...
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