Nolo's Essential Guide to Buying Your First Home (78 page)

Read Nolo's Essential Guide to Buying Your First Home Online

Authors: Ilona Bray,Alayna Schroeder,Marcia Stewart

Tags: #Law, #Business & Economics, #House buying, #Property, #Real Estate

BOOK: Nolo's Essential Guide to Buying Your First Home
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Exclusive buyer agents (EBAs)
 
Executors, for probate property
 
Expenses, home-related
 
for budget worksheets
 
factory made homes
 
home office tax deductions
 
recurring costs
 
reducing
 
sole property and
 
tax deductions for
 
Experian
 
Expiration date, in offers
 
F
 
Factory made (modular and manufactured) homes government-assisted loans
 
million-dollar
 
overview
 
style websites
 
Family members
 
attorney referrals
 
information on neighborhoods
 
mortgage broker referrals
 
notifying of move
 
real estate agent referrals
 
Family members, gifts from
 
avoiding gift taxes
 
for down payments
 
gift letters
 
overview
 
preventing emotional fallout
 
Family members, loans from
 
assessing feasibility of
 
benefits to borrower
 
benefits to lender
 
creating loan documents
 
default provisions
 
for down payments
 
forgiven loans
 
how to approach lender
 
interest rates
 
legal review of private loan agreements
 
loan terms
 
overview
 
structuring
 
thanking lender
 
Fannie Mae
 
mortgage application requirement
 
secondary mortgage market and
 
Farm animals, restrictions on
 
Federal Housing Administration (FHA) loans
 
assumability
 
credit history requirements
 
down payment requirements
 
drawbacks
 
overview
 
Federal Housing Administration Rehabilitation
 
Mortgage Program [Section 203(k)]
 
Federal Motor Carrier Safety Administration, mover licensing
 
Feng shui tips for assessing houses
 
FICO (Fair Isaac Corporation) score
 
Final Walk-Through Checklist
 
existing house
 
newly built houses
 
Financial Information for Lenders Checklist
 
Financial planners, as information resource
 
Financing
 
80/10/10 formula (piggyback loans)
 
80/20 formula
 
all-cash offers
 
arranging to pay for closing costs
 
for bank-owned property purchases
 
budgeting
 
contingency clauses
 
debt-to-income ratio
 
evaluating finances
 
information resources
 
little or nothing down payments
 
for manufactured homes
 
mortgage broker planning role
 
for newly built houses
 
overcoming financial roadblocks
 
overview
 
for public sale or auction properties
 
taking on excessive debt
 
UCC-1 Financing Statement
 
See also
Affordability issues; Deposits; Mortgages
 
Financing sources
 
401(k)s
 
alternatives
 
for co-op buyers
 
current assets
 
for down payment
 
family or friends
 
IRA withdrawals
 
seller financing
 
sellers
 
See also
Loan entries
 
Fires
 
homeowner’s insurance rates and
 
insurance discounts for lowered risk
 
See also
Insurance, hazard
 
First Digs
 
First-Look Home Inspection Checklist
 
First-time homebuyer tax credit
 
Fishman, Stephen, background and thoughts
 
5/25 loans
 
Fixed-rate mortgages
 
15-year
 
30-year
 
40-year
 
assumability
 
balloon loans
 
FHA loans
 
higher-than-required monthly payments
 
hybrid loans
 
interest rates
 
overview
 
two-step loans
 
VA loans
 
Fixer-uppers
 
extent of renovation
 
FHA loan restrictions
 
intrafamily loans and
 
overview
 
resale value
 
tearing down vs. remodeling
 
See also
Remodeling
 
Fixtures and personal property, purchase agreement clause
 
“Flipping” houses
 
Floods
 
hazard insurance exclusions
 
homeowner’s insurance rates and
 
insurance for
 
risk website
 
Foreclosures
 
assets removed from foreclosed properties
 
buying foreclosed properties
 
of CIDs
 
cost to lender
 
defined
 
down payment amount and
 
FHA loans
 
home equity loans/lines of credit and
 
mortgage fraud and
 
preforeclosure
 
public sale or auction properties
 
real-estate-owned properties
 
redeeming property
 
state laws
 
websites
 
where most happen
 
Forms-ROM
 
installing onto computer
 
list of
 
overview
 
PDFs and government forms
 
using files to create documents
 
Form 1003.
See
Uniform Residential Loan Application
 
For Sale By Owners (FSBOs) agent’s role in buying
 
buying with no agent
 
dealing with FSBO sellers
 
disclosure requirements
 
finding FSOB houses
 
house visits
 
overview
 
websites
 
401(k)s, borrowing from for down payments
 
Fraudulent practices
 
failing to disclose
 
house flipping
 
mortgage fraud
 
Freddie Mac
 
loan limits
 
mortgage application requirement
 
secondary mortgage market and
 
Friends
 
attorney referrals
 
cobuying arrangements
 
home inspector referrals
 
house tips from
 
information on neighborhoods
 
mortgage broker referrals
 
notifying of move
 
real estate agent referrals
 
Friends, gifts from
 
avoiding gift taxes
 
gift letters
 
overview
 
Friends, loans from
 
assessing feasibility of
 
benefits to lender
 
creating loan documents
 
default provisions
 
for down payments
 
how to approach lender
 
interest rates
 
legal review of private loan agreements
 
loan terms
 
overview
 
structuring
 
thanking lender
 
Full-service rebate (discount) agents
 
Future house, predictions
 
G
 
Gadow, Sandy, background and thoughts
 
Gardening.
See
Landscaping and gardening
 
Gas.
See
Utilities
 
General inspections
 
buyer present at
 
cost of
 
for newly built houses
 
overview
 
sample inspection report
 
standard inspection list
 
what is included in
 
what is not included in
 
See also
Inspections/inspection reports
 
Gift letters
 
Gifts, from relatives or friends
 
gift tax avoidance
 
overview
 
preventing emotional fallout
 
recordkeeping
 
Golden Pyramid House

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