Mortgage rates and home prices are two factors that will dictate where and how much home you buy. While these factors are determined by events that are out of your control, there are other factors that you can control that could help get you in the best possible shape to buy a home. Let’s look at two steps to make your home purchase more affordable
There are options available for home improvement financing and in this post we’ll briefly cover the cash option and also how to leverage your home’s equity.
How important is it to get pre-approved for a home loan? The outcome of getting pre-approved 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.
Rent reporting is a big deal if you plan to purchase a home in the future. If it seems like the scales are tipped against you in terms of buying a new home, the scales may have just moved a bit in your favor. Major credit agencies have begun to accept rent payment as part of their credit calculations, giving renters who want to become first time home buyers the leverage they deserve but didn’t always get. Here we take a look at rent reporting, ways to do it, and why it’s important for renter’s credit and future purchasing power.
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”
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”
Interest rates are at all time lows, I’m sure you’ve heard. But what exactly is an interest rate? Why does it matter if they’re low? How can you get an interest rate even lower? In this edition of Open House, I’ll address all these common questions and more as you prepare to buy or refinance a home. Read More “Open House: Guide to Interest Rates”
There are a lot of factors that are bringing more and more people into the housing market race. Lowest mortgage rates in history, the emergence of flexible work options and working from home, stimulus payments that allowed some Americans to remove debts, and a need to be closer to family. Maybe some or all of these apply to you too. But you think there’s no way you can afford to buy a house. Not on your salary, not in your state or city, not with all the items on your wish list. I’m here to tell you you’re wrong. And I know that from experience. Read More “Open House: Yes, You Can Afford To Buy A House”
Do you need assistance with coming up with money for your down payment? See Grants are like loans, usually given by the Federal Government, that don’t need to be paid back. Grants can make a significant impact on both the ability to buy a home or not, and how much home you can afford. Luckily, there are lots of police officer grants for those looking to buy a home. Read More “Police Officer Grants Available for Down Payment Assistance”
When buying a home, who wouldn’t want to receive free money to apply to your mortgage or down payment? Grants are like loans, usually given by the Federal Government, that don’t need to be paid back. Grants can make a significant impact on both the ability to buy a home or not, and how much home you can afford. Luckily, there are lots of options for grants for law enforcement officers looking to buy home. Read More “Law Enforcement Grants For Buying a Home”