BuyNewBuyNow™ wants you to know all the facts about new home ownership to help you make an educated decision when it comes time to make the biggest purchase of you life. We are here to help you make your home more than just a house. Buy new and buy now. It's the smart thing to do for people looking for equity, appreciation and money saving tax deductions. While some naysayers point to a softening of the new home market, the reality is that there has never been a better time to buy a new home.

Learn more about why a new home is right for you, and about the home buying process.

• It's a Great Time To Buy New
  
  
• New Home F.A.Q.
  
  
• Term Glossary

Tax and Insurance Escrow
An account required by a mortgage lender to fund annual property tax assessments and hazard insurance premiums for the mortgaged property. Funded through monthly contributions by the mortgagor.

Tax Deferred Exchange (1031 Exchange)
Under Section 1031 of the Internal Revenue Code, some or all of the realized gain from the exchange of property may not need to be immediately recognized for tax purposes. Both properties in an exchange must be held for productive use in trade or business or for investment and must be of a like-kind.

Term Loan
A short-term loan requiring interest-only payments until maturity, at which time the entire principal is due and payable.

Term Loan
One with a set maturity date, typically without amortization.

Title
Evidence that the owner of land is in lawful possession thereof; evidence of ownership. Marketable title.

Title Company
One in the business of examining title to real estate and/or issuing title insurance.

Title Insurance
An insurance policy that protects the holder from loss sustained by defects in the title.

Title Report
A document indicating the current state of the title, such as easements, covenants, liens and any defects. The title report does not describe the chain of title.

Title Search
An examination of the public records to determine the ownership and encumbrances affecting real property.

Townhouse
A dwelling unit, generally having 2 or more floors and attached to other similar units via party walls. Town houses are often used in planned unit developments and condominium developments, which provide for clustered or attached housing and common open space.

Truth in Lending Act
A federal law requiring a disclosure of credit using a standard format. This is intended to facilitate comparisons between the lending terms of different financial institutions.