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Buyers: Don’t Be Surprised by Closing Costs!

Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a mortgage? By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before the scheduled closing on their home. The closing disclosure includes final details about the loan and the closing costs. But what are closing costs anyway? [...]

By |2018-11-26T05:00:12+00:00November 26th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on Buyers: Don’t Be Surprised by Closing Costs!

Will Your Side Hustle Buy You a House This Year?

The top concern for most first-time home buyers is their ability to save for a down payment. According to a new survey, 36% of millennials took on a second job to make their dreams of homeownership a reality in 2017.  Among millennials with incomes over $100,000 a year, the top ways to come up with the necessary funds were to sell stocks (20%) or to sell cryptocurrency (16%). The most popular method of savings was the most traditional; 60% of those saving for a down [...]

By |2018-11-21T05:00:30+00:00November 21st, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Millennials|Comments Off on Will Your Side Hustle Buy You a House This Year?

Females Are Making It a Priority to Invest in Real Estate!

Everyone wants a place to call home; a place that gives them a sense of security. We are currently seeing major interest from females who want to achieve this dream, and the numbers are proving it! In 2018, for the second year in a row, single female buyers accounted for 18% of all buyers. In 2017, 60% of millennial women listed as the primary borrowers on mortgages were single. According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of [...]

By |2018-11-20T05:00:12+00:00November 20th, 2018|First Time Home Buyers, For Buyers, Housing Market Updates, Millennials, Move-Up Buyers|Comments Off on Females Are Making It a Priority to Invest in Real Estate!

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

By |2018-11-16T05:00:40+00:00November 16th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Infographics, Rent vs. Buy|Comments Off on The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

Wage Increases Make Home Buying More Affordable

Everyone knows that housing affordability has been negatively impacted by rising prices and increasing mortgage rates, but there is another piece to the affordability equation – wages. How much a family earns obviously impacts how easy or difficult it is for them to afford to own a home. Because of an improving economy, wages are finally beginning to increase – and that dramatically affects home affordability. According to the National Association of Realtors’ (NAR) September 2018 Housing Affordability Index, wages have increased in every region [...]

By |2018-11-15T05:00:41+00:00November 15th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on Wage Increases Make Home Buying More Affordable

VA Home Loans by the Numbers [INFOGRAPHIC]

Some Highlights: The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans & 2 million active duty service members which helps them achieve their dreams of homeownership. In 2017, $189 billion was loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.

By |2018-11-09T05:00:50+00:00November 9th, 2018|First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers|Comments Off on VA Home Loans by the Numbers [INFOGRAPHIC]

75% of Renters Have Been Misinformed

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home. In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to [...]

By |2018-11-08T05:00:07+00:00November 8th, 2018|Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy|Comments Off on 75% of Renters Have Been Misinformed

5 Tips When Buying a Newly Constructed Home

The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place. To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction: 1. Hire an Inspector Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying [...]

By |2018-11-06T05:00:45+00:00November 6th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers, New Construction|Comments Off on 5 Tips When Buying a Newly Constructed Home

2 Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that, “Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership. Thirty-nine percent of renters believe that more than 20% is needed for a down payment and many renters are unaware of low–down payment programs.” Myth #1: “I Need a 20% Down Payment” Buyers often [...]

By |2018-11-05T05:00:21+00:00November 5th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers|Comments Off on 2 Myths Holding Back Home Buyers

Taking Fear Out of the Mortgage Process

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification. For many, the mortgage process can be scary, but it doesn’t have to be! In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and good credit history. [...]

By |2018-10-31T04:00:55+00:00October 31st, 2018|First Time Home Buyers, For Buyers|Comments Off on Taking Fear Out of the Mortgage Process