You likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home … Continue reading...
Buying a Home, You Need a Plan
How do I begin the home buying process? How do I know if a house is well built? How do I make an offer on a property? What goes into a contract offer? What is an appraisal? What is a contingency? How many days do I have to review condo or HOA documents? How long does it take to move into a house once a contract is accepted? Why should I work with a local lender? … Continue reading...
Tips on Buying This Spring
This Spring Presents Sellers with a Golden Opportunity If you're thinking of selling your house this year, timing is crucial. After all, you'll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. If that's the case, you should know you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity. 1. The Number of Homes on the Market Is Still Low Todays limited supply of houses for sale is … Continue reading...
Now is the Time to Think About Buying
With Rents on the Rise – Is Now the Time To Buy? According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. … Continue reading...
Interest Rates are Still Low, Buy Now!
If your aspiration is to own a home or move to a larger one, now is a good time with careful consideration. … Continue reading...
Why Wait!
Waiting To Buy a Home Could Cost You Some Highlights If you’re thinking of buying a home but wondering if waiting a few years will save you in the long run, think again. The longer the wait, the more you’ll pay, especially when mortgage rates and home prices rise. Even the slightest change in the mortgage rate can have a big impact on your buying power no matter your price point. Don’t assume waiting will save you money. Let’s connect to set the ball into motion today while mortgage rates are hovering near historic … Continue reading...
Interest Rates July 16, 2021
Home Borrowing Costs Decline Again After a spike in the 30-year fixed-rate mortgage (from the lows seen in early January of 2.65% to a high of 3.18% by April 1st), home borrowing costs declined in April and May, now resting just above their historic lows. The run-up in rates from January to April was due in part to the specter of rising inflation as the U.S. economy emerged from the pandemic shutdowns. Pent-up consumer demand along with stimulus checks pushed prices for most goods and services higher while supply constraints added fuel to the fire. Lumber costs skyrocketed while oil … Continue reading...