Buying a House Archives

Why Rent-to-Own Homes May Not Be the Best Option

March 25, 2020July 13, 2021 / in Buying a House / Maggie Looker

Home ownership is still a major part of the American dream for most people, and many can’t wait for the day when they stop renting and finally own their own home. But making that transition from renting to owning can be difficult financially, which is why some people take it quite literally, choosing to live in a rent-to-own home.

A rent-to-own home offers a unique opportunity for many prospective home buyers. But that doesn’t always mean it’s a good idea. Rent-to-own agreements come with a lot of risk for both renters and sellers. Here’s a look at how rent-to-own homes work and why you may want to consider other options.

Military Housing: Your Guide to BAH Rates and Savings

May 30, 2019February 10, 2021 / in Buying a House / Maggie Looker

The United States provides a Basic Allowance for Housing, or BAH, for all military members when governmental quarters are not available. The BAH helps ensure that military members have equitable housing compensation. The BAH you receive depends on the housing rates near your base, your dependency status, utilities, renters’ insurance, and your pay grade. If those variables change at all in your area, there will likely be a corresponding change in your BAH rate. Here are some frequently asked questions about BAH, a link to a BAH calculator, as well as some tips on how you can save money when buying a home in 2021.

What Does a Title Company Do?

May 23, 2019July 15, 2022 / in Buying a House / Luke Feldbrugge

If you’re asking what does a title company do, you’ve come to the right place for an overview of the services they provide. These days, numerous parties are involved in every real estate transaction; including home buyers, home sellers, real estate agents, mortgage lenders, real estate attorneys, home inspectors and title companies. Most of these are familiar to the average home buyer, but the title company is not known as well as the others. Understanding their importance is key to protecting the investment in your next home.

4 Main Types of Home Loans

May 13, 2019January 19, 2024 / in Buying a House / Maggie Looker

Before you study up on the types of home loans available, we always recommend determining how much house you can afford first. Once you know what you can afford to pay for a house, then you can focus on which loan type is best for you. This mortgage calculator is also a great tool to estimate your monthly mortgage payment. If you know what you can afford, the following will cover the four main types of home loans: Conventional loan, FHA loan, VA loan and USDA loans. Chances are you qualify for more than one type so spend a little time getting to know the pros and cons of each.

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Best Mortgage Calculator to Estimate Monthly Payments

May 7, 2019April 26, 2024 / in Buying a House / Maggie Looker

The Homes for Heroes mortgage calculator helps estimate how much house you can afford before starting the home buying process. It will help you understand and plan for your ongoing financial commitment if you choose to purchase a home. This mortgage calculator not only provides you a monthly mortgage payment estimate, but it also breaks out estimates for your principal, interest, property tax and insurance (PITI) for different loan types. Try it out yourself below, and read on for more information about estimating your monthly mortgage payment.
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10 Steps to Closing on a House for Homebuyers

April 4, 2019June 3, 2021 / in Buying a House / Luke Feldbrugge

Hopefully you’re here because your purchase offer was accepted by the seller. You’ve finished celebrating that victory and now you’re preparing for what comes next. If not that’s alright. You’ll get there soon. Closing on a house is a process that takes some time, involves many people and a lot of paperwork. Did you know the average time it takes to close on a house is around 45 days? Your home buying team (real estate, mortgage, title and home inspection specialists) plays an important role in bringing everything together for your closing. Here are the things you need to know about the process of closing on a house and where you can save some money with Homes for Heroes.

8 Tips for Negotiating a House Price

March 29, 2019June 1, 2023 / in Buying a House / Maggie Looker

When buying a house, your real estate agent will handle a lot of the paperwork and help with things like managing your house search, writing up your purchase agreement and of course negotiating a house price when you enter a purchase agreement. They will negotiate with the seller on your behalf. But, you will ultimately make the final decision on everything in the purchase agreement. That’s why it pays to know what goes into negotiating a house price. Here are eight important tips for your negotiations.

How to Make an Offer on a House | Purchase Agreement

March 28, 2019January 22, 2021 / in Buying a House / Luke Feldbrugge

When you find a house you want, how to make an offer on a house becomes extremely important to getting it. Your real estate agent’s expertise plays an important role in the process. Your offer should set you apart from other potential buyers without paying more than necessary. With so many factors to consider, here are the important steps to take when making an offer on a house.

House Searching – 4 Tips to Beat Other Buyers

March 9, 2019January 31, 2023 / in Buying a House / Maggie Looker

Your house search probably began online, browsing listings to see what is available and what they cost. If you’re looking for a competitive edge, you’ve come to the right place. Consider this: the average home buyer will spend over four months house searching before they actually buy. During that time you will compete with other home buyers to get the house you really want. To get you ready to take action when you find the right house, here are four important house searching tips to help you beat out other home buyers.

Where Should I Live? 4 Important Factors to Consider

March 5, 2019January 19, 2024 / in Buying a House / Luke Feldbrugge

When thinking about purchasing a new home it is wise to first ask yourself, where should I live? There are four main factors to consider when determining the location of a new home: convenience, safety, amenities and cost. After you figure out what you want, then you need to determine what you can afford and where those homes are located. Here’s a look at each factor, why they’re so important to finding the right home, and some resources to help you determine where you should live.

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