When you’re shopping for a home loan, you’ll come across various mortgage options related to the down payment, loan term, and interest rate. Let’s focus on the interest rate and how your choice will affect your overall mortgage payment. There are two main options – fixed-rate and adjustable-rate. What’s the difference and how do you…Read More
Saving up for a down payment can be an obstacle for many first-time homebuyers. You want to take advantage of the historically low mortgage rates. Still, rent, utilities, childcare, and other monthly expenses make it difficult to save up that 20% down payment that most lenders require. According to the Homeownership Program Index, there are…Read More
Buying a home is an exciting milestone in your life. It’s an opportunity to put down roots and have a place you can finally call your own. But before you call a realtor, you need to establish a budget and ask yourself an important question: How much house can I afford? While having a gourmet…Read More
House hunting can be one of the most exciting times in your life, but it can also be one of the most challenging. Before you start your search, it’s important to ask yourself some questions such as: What type of house do I want? Where do I want to move to? What is my maximum…Read More
Congratulations – you’ve been pre-approved for a mortgage and started your journey to achieving homeownership! Now comes the fun part – choosing the must-haves for your dream home. You’ve figured out your budget, square footage, and the number of bedrooms requirements, but what about other features? If you haven’t decided on additional features for your…Read More
If staying inside our living spaces for the better part of 2020 made us realize anything, it’s “there’s no place like home.” Our homes became – and in most places remain – multi-functional spaces, serving as an office, a school, an entertainment center, and a shelter from what looms outside. And since we’re spending more…Read More
2020 has been a year like no other in our lifetime and if you’re like a majority of Americans you are probably counting down the days until we raise our glasses and start a new year. With the coronavirus pandemic ravaging the global economy and wiping out calendars and social gatherings the holidays will no…Read More
If you’re looking to buy a home in a suburban or rural area and have little or no down payment, consider a USDA Rural Development Loan. This can be a great option if you’re a first time home buyer or want to further away from a large, urban area. However, this doesn’t mean your new…Read More
It’s been an uncertain few months in the United States real estate market, largely due to the COVID-19 pandemic and an unstable economy. If you were planning on selling your home this fall, you may now be asking “is now a good time to sell?” or “should I wait to sell until everything settles down?”…Read More
Your credit score is the biggest factor in determining the mortgage rate you receive, or even if you qualify for a home mortgage. If you have a good or higher credit score, it can ultimately save you thousands of dollars over the life of the loan. According to Experian®, the minimum credit score needed to…Read More