Most people searching for a home will likely need some form of financial assistance to make the home purchase. Mortgage loans are a type of loan given by a bank or lender designed to be applied towards home purchases. There are all kinds of mortgage types, designed with different financial needs in mind. We’ll walk through the types of mortgages, what they mean for the borrower (you), and some tips for getting approved. Read More
“Finance Buying a House with a Home Mortgage Loan”
Category: Buying a House
Is There Any Relief in Sight For the Housing Shortage Supply?
In 2021, the supply and demand imbalance fueled runaway house prices, as well as incredible competition as the limited supply of housing available was snapped up quickly. Sellers were clearly in control and there’s unfortunately no sign of that dynamic abating in 2022. According to the latest Market Pulse Report from HouseCanary, a real estate valuation brokerage, inventory levels dropped again in December to near-record lows. HouseCanary expects the nationwide shortage of homes for sale to persist well into the spring, projecting another double-digit home price increase by the end of 2022. Read More “Is There Any Relief in Sight For the Housing Shortage Supply?”
What to Expect from the First Time Home Buying Process
Buying your first home is a major, expensive decision, and you shouldn’t start the process without doing any research. Knowing what to expect during the home buying process can save you from possible mistakes, and give you the confidence you need to dive head first into the home buyer pool. One of the biggest challenges of buying your first home is knowing where to start. Luckily, Homes for Heroes has the complete first time home buying process laid out for you to review. Let’s go through what you’ll need to know and do to buy your first home. Read More “What to Expect from the First Time Home Buying Process”
How to Get a Mortgage With Bad Credit
What’s the best way to get mortgage-ready in this crazy competitive housing market? All of the headlines out there suggest it’s a tough market for buyers, and that’s true. So, should you try getting a mortgage with bad credit? The quick answer is “yes”. But, you need to start improving your credit goals immediately, as the housing market will only get more competitive. The housing market has been on a trajectory that has seen home prices skyrocket as demand soars beyond available inventory. This helped raise mortgage borrowing to record heights last year, and is expected to drive lending even higher this year. Read More “How to Get a Mortgage With Bad Credit”
Should I Buy a House in 2022?
As we start a new year, one of your resolutions might be to buy a house in 2022. But with an intimidating housing market, you might not be sure if now is the right time, or if you’re prepared to buy a house. We’ve looked at the trends from the end of 2021 to make predictions for the housing market in 2022 to give you a better idea on if 2022 is the year for you to buy a home.
What housing shortage? Veteran mortgages hit an all-time record high
Where there’s a will there’s a way! Despite most people struggling to find a home in today’s hot housing market for the ninth fiscal year in a row, mortgages to our Veteran’s increased year-over-year, up 11.4% compared to fiscal year 2019, according to data from the Department of Veterans Affairs. Overall, the Department of Veterans Affairs loan insurance program backed an all-time record high 1.2 million loans. Read More “What housing shortage? Veteran mortgages hit an all-time record high”
How the Housing Shortage Has Reshaped the Way We Buy Homes
Would you ever consider making what might be the largest purchase of your life without actually having seen the asset? Probably not but that is the state of the housing market today. A shortage in housing supply, low-interest rates, and a pandemic-fueled desire for more space has created intense bidding wars, and it’s not likely to disappear anytime soon. Read More “How the Housing Shortage Has Reshaped the Way We Buy Homes”
Here’s Why 2022 May Be a Better Market for Home Buyers
Double-digit home price appreciation that we’ve seen in the last 12 months shouldn’t be read as an indication that there is trouble ahead for the housing market in 2022. In fact, economic forecasts call for continued strength in US housing as we look into the New Year. Read More “Here’s Why 2022 May Be a Better Market for Home Buyers”
Open House: Guide to Homeowners Associations
You might have heard of a homeowners association from a relative, coworker or friend. And your experience with a homeowners association is probably highly negative or highly positive, depending on your acquaintance’s experience. So, what exactly is this polarizing component of different communities? In this Open House, we’ll dive deep into what a homeowners association is and if they’re the right fit for you. Read More “Open House: Guide to Homeowners Associations”
First Time Home Buyer Program for Teachers | Save with Homes for Heroes
Buying a home for the first time is exciting, but also expensive. While historically people saved 20% for their down payment, you can still get a great home and good mortgage with less, thanks to first time home buyer programs for teachers. Between grants, national funding, and different types of loans, there are home buying programs specifically for teachers to help with down payment costs.
Read More “First Time Home Buyer Program for Teachers | Save with Homes for Heroes”