Homes for Heroes Blog - Hero Savings, Buying and Selling Tips

Home Mortgage Refinancing Options | 4 Main Types and How to Save

December 28, 2020July 28, 2022 / in Mortgage and Refinance / Maggie Looker

There are four main types of home mortgage refinancing options to consider that can help lower your monthly mortgage payments or put some cash in your pocket. You could save money on interest, lower your monthly mortgage payment, or get cash for home improvements, just to name a few. Due to some stipulations and conditions with some mortgage refinancing options, it can be challenging to know which is right for you. Here’s a closer look at the four most common types of home mortgage refinancing options and a great way to save some money when going through the process.

Is Refinancing Your Mortgage Worth It?

December 21, 2020July 22, 2022 / in Mortgage and Refinance / Maggie Looker

When considering the process of refinancing your mortgage, many people choose not do it because they hate filling out financial paperwork and the closing costs are too much. The key question to refinancing your mortgage is will you save money if you do it? The hope is that by getting a better interest rate, home owners can lower their monthly payments and come out ahead. But that isn’t always the case, and sometimes the timing just isn’t right to refinance. Here are five reasons why you may consider not refinancing your mortgage and some other helpful tips.

Low Mortgage Interest Rates Call for Refinancing

December 15, 2020December 30, 2020 / in Mortgage and Refinance / Maggie Looker

In 2020, mortgage interest rates dropped to an all-time low and went under three percent for the first time ever. In fact, the mortgage interest rate dropped 14 times in 2020. This was in response to the global coronavirus pandemic, after rates had been declining for years prior. The Federal Reserve, who is responsible for influencing interest rates, has said that rates will remain low, potentially for several years. With these historic low rates, now is an excellent time to consider buying or refinancing your home.

Downsizing Your Home: What You Need to Consider

December 1, 2020March 1, 2023 / in Buying a House / Homes for Heroes

There are a lot of reasons why people want to downsize when buying a home. The kids are off to college or buying homes of their own, you’re getting older, or you just realize you don’t need as much space as you thought you did. But downsizing almost always impacts the way you live in one way or another. So, it’s worth taking a thoughtful look at what’s important to you and what will be important in your new, smaller home. Here are the top things to consider when downsizing your home.

Questions to Ask to Get the Most Value from a Home Inspection

November 11, 2020January 31, 2023 / in Buying a House / Luke Feldbrugge

There are a lot of steps to buying a house, and while they are all important, some are just more valuable than others. Writing an earnest money check, for example, is necessary, but it doesn’t do much for you as a buyer. A home inspection, on the other hand, can be extremely valuable, potentially helping you save money when you negotiate the home price or keeping you from buying a total lemon.

Getting the keys to your new home is a monumental moment after a long waiting period. The inspection report can give you up-to-date information relating to the nature and location of any defects (if there are any). However, to get the most value out of your home inspection, you need to ask the right questions.

How to Submit a Winning Offer with an FHA Loan

November 4, 2020 / in Buying a House / Luke Feldbrugge

Many first-time home buyers use FHA loans because of the significant benefits they provide. But there are some unique considerations you have to keep in mind, particularly when it comes to actually writing an offer. Here’s a quick introduction to FHA loans as well as some tips on how to submit a winning offer using one of these loans.

Submit a Winning VA Loan Offer

October 27, 2020May 31, 2023 / in Buying a House / Homes for Heroes

When presented with an offer on a home that involve government-backed loans like VA loans, sellers can be hesitant. This is mostly because some people believe that VA loans make a deal harder to close. That may have been true at one point, but is far from the truth now. Still, these beliefs persist. So, if you’re an active duty military member or veteran using a VA loan to buy a house, you’ll need to make sure your offer is as strong as possible to be accepted. Here are some tips on purchasing a house with a VA loan and crafting a winning offer.

Write a Letter to Buy a House – Tips for Writing a Personal Letter to Sellers

October 21, 2020February 9, 2021 / in Buying a House / Luke Feldbrugge

Many housing markets are extremely competitive, with multiple offers coming in for desirable homes, especially moderately priced ones. So, if you find a house that you love, you need to do everything you can to make the strongest possible offer. For years, real estate experts have recommended writing a personal letter to a home seller to explain why you want to buy the house. But in the age of technology, many people wonder, “Do I really need to write a letter to buy a house?” The short answer is yes. A personal letter is your opportunity to make a meaningful connection that motivates the seller to accept your bid. Let’s look at some tips for writing a strong personal letter as well as some special considerations for heroes.

What to Consider When Buying a House from a Family Member

October 14, 2020February 9, 2021 / in Buying a House / Luke Feldbrugge

Many heroes enter their professions because they are continuing a family legacy. It’s not uncommon to see whole families of teachers, men and women following in their parents’ footsteps to become police officers or firefighters, or military service members carrying on a proud family tradition. But home ownership can be a legacy too, and many people want to pass down the homes they cherish to their children or other relatives. Other times heroes want to purchase a home from a family member to help them out or return to live in their childhood home. But buying a house from a family member comes with unique emotional and legal considerations, so it isn’t as easy as just handing over the keys. Here are some tips on how to buy a house from a family member while making the process as quick and painless as possible.

How Accurate is an Online Home Value Estimate?

October 6, 2020July 16, 2022 / in Buying a House / Luke Feldbrugge

Whether you’re looking to buy or sell a home, major real estate sites like Zillow and Redfin make it easy to get a home value estimate. The information is listed prominently when you look up any address or use their search tools. But housing markets are in constant flux and there are countless variables that factor into a home’s true value. So, just how accurate and reliable are these estimates? To help you make the most of online resources and get the best possible price for your home, here’s a look at how online calculators determine home values and how you can use that information to your advantage.

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