Now, as buyers ask, “Are interest rates going up?”, a closer look reveals they are in fact moving higher, but remain low by historical standards. The mortgage rate environment this year has changed drastically from the previous few years, when borrowers enjoyed historically low interest rates.
If you are a firefighter first time home buyer, there is help out there. It’s not obvious and it can take a while to find the help that’s right for your situation. Ideally you will be able to find a program that’s easy to understand, easy to apply for, and easy to qualify for. Let’s see if we can help with your home search.
Buying a home is one of the most significant purchases you will make, so it’s likely you won’t take the process lightly. While many would-be homeowners take the time to plan out financing for a home, some may not be budgeting appropriately, and accounting for the extra costs for buying a home many potential buyers may not be aware of!
Buying your first home is an important and exciting time. The lead-up is often years of preparing your savings, your finances, and your vision of the perfect home.
In today’s market, finding the perfect house can be a greater challenge than it used to be. Housing inventory is tight, which means picking the right house at the right price is often easier when done with the help of an experienced real estate agent who understands your unique priorities.
It’s a hard market for first-time home buyers: home prices are up, inventory is low and mortgage rates are getting more expensive. But depending on which market you are looking for housing, buying may still come out a winner on affordability compared to renting.
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.
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.
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.
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.
Getting to know what first time home buying programs are available, and learning what they can provide you and your family is a good first step to take before buying your first home. Going through the process of buying your first home can be a bit intimidating. It tends to be a big purchase, with many steps, and typically costs a lot of money. Here we provide a snapshot of different first time home buying programs that may be available to you. As you take this significant step toward owning a home, we want to help you get the most you can, for the least amount of money. Read More “First Time Home Buying Programs | How to Get Them”