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Real Estate Term of the Week

Construction Loan: A loan borrowed to finance the construction of a home. Typically only interest is paid during the construction period. The money is advanced incrementally during construction, as construction progresses. When the home...

Real Estate Term of the Week

Safe Withdrawal Rate: A safe withdrawal rate is used for retirement planning and estimates the amount you can spend each year without ever worrying about running out of money. Depending on the risk level...

Real Estate Term of the Week

Bumpable: When a home is listed as “bumpable,” the seller has already received an offer from a buyer. However, the buyer may need to meet certain conditions before the purchase can be completed. Commonly,...

Real Estate Term of the Week

Credit Utilization: The percentage of a consumer’s available credit that he or she has used. The credit utilization ratio is a key component of your credit score. It’s a formula that divides your outstanding...

Real Estate Term of the Week

Escrow: A neutral third party or attorney that handles the exchange of money and documents once mutual acceptance is reached on an offer. Escrow handles the transfer of the buyer’s loan documents and property...

Home Selling Tips for Summer

It’s the time of year when “for sale” signs pop up in home owners’ yards as fast as the grass grows. If you’re considering putting your home on the market this summer, make sure...