Bay River News

Aug. 14, 2023

Financing Basics

When buying a home, land, or commercial property, there are two ways to pay for it - use 100% of your own funds or finance it and repay the money over time.  Paying cash is the simplest way to purchase real estate, but not everyone has the financing ability to do this.  Financing allows the buyer to put down less cash and repay the loan by making payments, typically monthly, but sometimes other time periods.  There are many variables that will determine the type of loan, the terms of the loan, and the buyer's/borrower's ability to obtain the loan.  If you are selling a property, it's important for you also to understand the basics of financing and how it can affect the sale.


1. The borrower's financial ability to repay the loan

2. The property

3. Intended use

Feb. 2, 2023


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Bay River Realty Client Appreciation 2022

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Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates