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The Latest Home Buying Guide

Buyer’s Agent
A realtor who represents the buyer in finding a house. Paid by the
seller.
Comparative Market Analysis (CMA)
A comparison of home values in the area you are looking to buy.
Used to ascertain the value of the house you are interested in.

Contract
Document with the terms of the sale that is signed by the buyer and
the seller.

Closing
The process of completing the sale. All paperwork is signed and
witnessed. Money is paid and keys handed over.

Closing costs
All the fees and expenses associated with buying and selling a home
that are paid at closing.

Closing Disclosure
Form provided by the lender within three business days of closing,
that shows final details about your mortgage. Included are your
loan amount, fees, closing costs, special features, and other
important information.

Contingencies
Special clauses in a purchase contract that must be satisfied before
closing takes place. If not done, the buyer can walk away without
losing his or her deposit. Most common contingencies include:
Financing, appraisal & inspection.

Debt-to-income ratio
Used in conjunction with the housing expense ratio to determine

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