Real estate transactions can be confusing and difficult to follow if you do not fully understand the terminology that is commonly used. At HomeLink Realty, our goal is to help you through the home-buying and home-selling process in a way that helps you understand each step of the transaction. That is why we provided a list of common terms below that you might encounter throughout the process.

 

Financial Terms

Appraisal - An unbiased, professional opinion of the value of a property.

Closing Costs  - The fees and expenses that are associated with finalizing a real estate transaction.

Debt-to-Income Ratio (DTI) - A number used by mortgage lenders to determine affordability. If your monthly debt payments are $2,000 and your gross monthly…

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