Nolo's Essential Guide to Buying Your First Home (79 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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Good Faith Estimates (GFEs)
 
Google, information on neighborhoods
 
Government-assisted loans
 
application procedures
 
FHA loans
 
overview
 
state and local programs
 
VA loans
 
website
 
Grading, not-yet-built houses and
 
Grucza, Paul, background and thoughts
 
Guaranteed replacement coverage, hazard insurance
 
H
 
Haunted houses, disclosure requirements
 
Heating and cooling equipment
 
documents related to
 
energy efficiency and
 
high-efficiency, tax credits for
 
home warranties for
 
inspecting
 
recalled equipment
 
Historic landmark status
 
guaranteed replacement coverage and
 
restrictions associated with
 
Home businesses
 
homeowner’s insurance coverage
 
recordkeeping
 
tax deductions for
 
zoning restrictions
 
Home equity lines of credit
 
Home equity loans
 
interest rates
 
for remodeling
 
tax deductions for
 
Home Inspector Interview Questionnaire
 
Homeownership
 
investment benefits
 
personal benefits
 
price of
 
reasons for resisting
 
vs. renting
 
by single persons
 
tax benefits
 
Home warranties
 
builder warranties for newly built houses
 
common policy exclusions
 
cost of
 
governmental regulations
 
overview
 
policy premiums
 
preexisting condition clauses
 
questionable value of
 
House purchase contracts.
See
Purchase agreement clauses; Purchase agreements
 
House size
 
adding onto house
 
homeowner’s insurance rates and
 
small houses
 
very large houses
 
House styles
 
CC&R rules
 
cost considerations
 
design and upgrades for not-yet-built houses
 
factory made homes
 
homeowner’s insurance rates and
 
old houses
 
staging and
 
See also
Common interest developments; Newly built houses
 
House Visit Checklist
 
Housewarming parties, tips on low-cost
 
Housing and Economic Recovery Act, seller-funded down payment assistance
 
Husk, Mary I., background and thoughts
 
Hybrid loans
 
I
 
Ideal house
 
dream list
 
housebuying fantasies
 
lifestyle, plans, and values
 
overview
 
Identity, proof of buyer’s
 
Income, gross
 
for budget worksheets
 
in debt-to-income ratio
 
expected increases in
 
recordkeeping
 
Indexes, for ARMs
 
Inflation guards, hazard insurance
 
Inspection contingencies
 
for newly built houses
 
overview
 
removing
 
timeframe for completion
 
who pays for repairs
 
Inspections/inspection reports
 
“as-is” property
 
bringing reports to closing
 
certificates of occupancy
 
for co-op buyers
 
First-Look Home Inspection Checklist
 
general inspections
 
for newly built houses
 
overview
 
pest inspections
 
precontract inspections
 
for public sale or auction properties
 
real estate agent role
 
recordkeeping
 
sample report
 
seller-commissioned
 
specialized inspections
 
state laws
 
understanding
 
who pays for
 
See also
Property inspectors
 
Insulation
 
energy efficiency and
 
tax credits for
 
Insurance
 
auto
 
health
 
See also
Private mortgage insurance
 
Insurance, hazard
 
actual cash value coverage
 
coverage for expensive items
 
earthquake insurance
 
exclusions
 
flood insurance
 
guaranteed replacement coverage
 
inflation guards
 
living costs
 
ordinance or law endorsements
 
overview
 
personal possession replacement
 
pet liability coverage
 
replacement cost coverage
 
for separately itemized property
 
Insurance, homeowners’
 
benefits of high deductible
 
bringing proof of to closing
 
cost of
 
defined
 
discounts for lowered risk
 
for home-based businesses
 
obtaining, contingencies clauses
 
proof for preapproval
 
recordkeeping
 
risk factors that affect rates
 
shopping around for
 
Insurance, liability
 
for former owners as tenants
 
for medical bills
 
overview
 
personal liability
 
pet liability issues
 
Insurance agents or brokers, when to use
 
Insurance claims, homeowner’s insurance rates and
 
Interest, mortgage
 
defined
 
down payment amount and
 
on home equity debt
 
tax deductions for
 
Interest-only loans, ARMs
 
Interest rates
 
advertised vs. offered rates
 
annual percentage rate
 
base rate
 
benefits of finding lowest
 
for co-op buyers
 
credit scores and
 
current rate websites
 
down payment amount and
 
IRS minimum rate for private loans
 
loan-to-value ratio and
 
locking in
 
mortgage payments and
 
mortgage rate buydowns
 
overview
 
points and
 
recordkeeping
 
refinancing and
 
researching
 
risk and
 
teaser rates
 
on Truth-in-Lending Disclosure Statement
 
Interest rates, for specific types of loans
 
ARMs
 
balloon loans
 
fixed-rate mortgages
 
home equity lines of credit
 
home equity loans
 
hybrid loans
 
intrafamily loans
 
investment property loans
 
“jumbo” loans
 
seller-financed loans
 
two-step loans
 
International Society of Arboriculture
 
Internet aggregators, for preapproval
 
Internet providers.
See
Utilities
 
Investments
 
cashing out for down payments
 
foreclosed properties as
 
homeownership value as
 
interest rates on investment properties
 
See also
Family members, loans from; Friends, loans from
 
IRAs, withdrawals for down payments
 
IRS, minimum rate for private loans
 
See also
Tax entries
 
IRS Form W-2, recordkeeping
 
IRS Form 709, gift tax return
 
IRS publications
 
521, Moving Expenses
 
530, Tax Information for First-Time Homeowners
 
555, Community Property
 
950, Introduction to Estate and Gift Taxes
 
J
 
Joint ownership.
See
Cobuying arrangements
 
Joint tenants with right of survivorship
 
“Jumbo” loans, interest rates
 
Junk fees
 

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