Glossary Of Home Financing Terms

203(k): this FHA mortgage insurance program enables homebuyers to finance both the purchase of a house and the cost of its rehabilitation through a single mortgage loan. A “A” Loan or “A” Paper: a credit rating where the FICO score is 660 or above. There have been no late mortgage payments within a 12-month period. […]

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Glossary of Home Buying & Selling Terms

A Acceleration Clause A provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed. Acceptance A party’s consent to enter into a contract and be bound by the terms of the offer. Adjustable Rate Mortgage (ARM) A mortgage whose interest rate […]

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Home Financing FAQs

What do lenders generally focus on when you apply for a loan? Lenders look most closely at the “three Cs”-cash, credit, and collateral. Cash means you have enough money for a downpayment and closing costs. Good credit means you have borrowed money in the past and repaid your debts on time and in full. Collateral […]

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Home Buying FAQs

What is an adjustable-rate mortgage? An adjustable rate mortgage, or ARM, offers a lower initial interest rate than most fixed rate loans. However, that rate resets periodically, usually in relation to an index. When the rate changes, the monthly payment will go up or down accordingly. For example, the rate on a 5/1 ARM is […]

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Home Buying Tips & Tricks

Home Buying Tips, Tips and Tricks to save time and money, Las Cruces Home Buyers,

Stay ahead of the game with current real estate information and tips that will save you time and money!  Check back for new tips and tricks every two weeks.   1.  How To Buy A Home With Zero Cash The Zero Cash Down Payment Program offers you a way to buy a home with no […]

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Las Cruces Farmers Market

Las cruces crafts & farmers market

Wouldn’t it be great to have the number one large farmers markets right around the corner and easily accessible? Fortunately, we have one! The Las Cruces Farmers and Crafts Market has won multiple awards over the past few years and has become a staple of Las Cruces living. The market started in 1971 when a […]

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