Some Highlights
- Buying a home? Knowing key housing terms and how they relate to today’s market is important.
- When mortgage rates and home prices rise, it impacts how much home you can afford.
- Terms like appraisal, which lenders rely on to validate a home’s value, and inspection contingency, which provides buyers with essential information on a home’s condition, directly impact the transaction.
- The unfamiliarity with the terms used throughout the process can intimidate you when buying a home in Chicago.
- Consult with real estate agents, so you have an expert guide and advice for any questions that may come up.
