Home buying terminology is its own language at times. This glossary of terms for home buyers is something we hope you will reference again and again during your journey. It’s alphabetically organized and ideal for learning on the go. Knowing a few of these terms can make you look like a smart buyer ready for a competitive market. Read More
“Home Buying Terminology | Terms for Home Buyers to Know”
Category: Buying a House
Where are Mortgage Rates Headed? Homebuyers Want to Know
The war in Ukraine has created some market volatility, but that’s not unusual. In uncertain times global investors will look to move their investments into areas they feel are safe from conflict. This can cause fluctuations in the prices of US Treasuries, and yes, even mortgage bonds – which in turn impacts mortgage interest rates.
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House Hunting Checklist | Home Buyers Pick Must-Haves (Free Printable PDF)
The Homes for Heroes house hunting checklist is a simple tool to help home buyers determine the absolute must-haves for their new home, and what are the extended nice-to-haves. Some checklists are a home buying wish list. But as this post will illustrate, the key to this exercise is to actually narrow down your wish list to the true essentials (Must-Haves). Everything else is gravy (Nice-to-Haves)! This checklist will define your targeted house search criteria and help streamline your house hunting experience.
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How to Get Pre Approved for a Home Loan and Save Money at Closing
How important is it to get pre approved for a home loan? The outcome of getting a home loan pre approval is receiving a pre-approval letter. This letter is the golden ticket that allows you to be seriously considered by a seller to purchase their home. Without one, your chances of winning the bid on a home with multiple offers is slim to none. Therefore, it’s good to know the process of how to get pre approved for a home loan and other answers to commonly asked questions about mortgage pre-approval.
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Accessing Down Payment Assistance for First-Time Home Buyers
With rising interest rates it’s clear that the spigot of refinancing that have buoyed mortgage volumes over the past two years is about to slow to a trickle. With lenders shifting their attention to first-time buyers, now is the time to address the affordable home crisis, where accessing down payment assistance can play a big role.
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Housing Bubble Forming? Depends Who You Ask
If you’re concerned that the current hot housing market is unsustainable you aren’t alone. A Redfin study found that 77% of homebuyers surveyed believe there is a housing price bubble. Meanwhile, 44% of real estate agents believe there’s a housing bubble in the market where they work.
Mortgage Ready | These are the Future Mortgage Borrowers
Housing affordability is an increasing concern, but there is a population of 41 million people, 45 years or younger in the U.S. who are “mortgage ready” according to a Freddie Mac report.
That’s a lot of potential first-time buyers. Homeownership is critical for building long-term wealth, and most first-time homebuyers rely on obtaining a mortgage to become homeowners.
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Extra Cost To Buy a House | What You Need to Know
You’ve been saving to buy a new home, but what will it actually cost to buy a house you want? You have your down payment fund built up, and you’re pre-approved. It is our duty to inform you there are many fees, taxes and up front costs you’ll need to be prepared to pay – on top of your down payment. When you’re saving up to buy your dream home, these additional costs to buy a house. Read More “Extra Cost To Buy a House | What You Need to Know”
How Rising Inflation Rates May Impact Your Next Home Purchase
By now you’ve probably read the headlines on the impact rising inflation is having on the economy. Read on if you want to know how it is impacting your ability to purchase a home. Read More “How Rising Inflation Rates May Impact Your Next Home Purchase”
Finance Buying a House with a Home Mortgage Loan
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”
