Saving for a new home is unlike any other savings experience. You’re not just filling a bank account and hitting a number. Instead, you’re preparing for what is likely the largest purchase of your life. In a competitive housing market where bidding wars are common, you’ll want to have every advantage when saving for a…
If you’re a first-time home buyer, it can feel like you’re taking a crash course in the real estate industry. From the type of home you want to what you can afford to the myriad options for financing, it can be overwhelming. As mortgage professionals, we’ve seen it all from our side of the lending…
When you apply for a mortgage, lenders execute financial calculations to determine whether or not you qualify for a loan. Therefore, you should become familiar with the debt-to-income ratio (DTI) before buying your home. This formula will help you understand what lenders are looking for when approving loans and how to ensure your financial health…
Buying a house without a real estate agent can be scary if you do not know where to start. But, while it may not be easy to maneuver through without an agent, it is still possible to buy your dream house if you learn various tips and tricks. The tips will guide you in making…
How to Make Sellers’ Agents Know You Are a Serious Buyer Today’s housing market is experiencing increased competition. With lower housing inventory and fast-moving buyers, bidding wars and competitive offers have become more common. As a result, buyers may need to act more quickly to have an edge in this crowded landscape. One way to…
“You’ve Been Pre-Qualified!” We’ve all received mailers and emails letting us know that our finances are in good shape to buy a house. The message usually goes on to say that you’re a great potential customer to become a homeowner. After a pre-assessment of your finances, credit history, and earning potential, a lender has determined…
When you refinance your house, the new loan pays off the existing loan. The most obvious advantage of refinancing is helping financially strained borrowers to use some of the money from their home’s value to cater to other needs. This is especially helpful when you’re anticipating an increase in your budget. Other benefits include shortening…
“Is now the right time to buy a home?” This is a question that everyone should ask themselves when they start dreaming of a new house and saving up for a down payment. Whether you’ve been saving for several years or you have just started dreamily browsing Zillow, the best time to buy is mostly…
Did you know that when you pay property taxes, the money is used to fund government services? The government receives revenues by taxing the proceeds of investments and certain incomes. Such taxes fund the jobs of government employees and also help in infrastructure development. These taxes can be a burden on many homeowners. Fortunately, homestead…
According to Forbes, homeowners spend an average of $1,200 per month (or between 1-4% of their home’s value) to keep their homes in good condition. They do so to guarantee the safety and comfort of their families and preserve the investment value of their homes. For the homeowners wondering how to maintain the value of…
Every year, American homeowners spend more than $400 billion on home renovations. The average home remodel project costs between $3,000 and $25,000, depending on the scale of the renovations. Large-scale and whole-home renovations can go as high as $150,000 from beginning to end. But what are the best home improvements that will increase your home…
Buying a home is a big investment. For those purchasing their first home, budgeting can be a challenge if you don’t know what to expect. Choosing a house that you can afford is very important since it will affect your long-term financial health. But, how do you budget for a home? Here, we’ll look at…
