Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even […]
Ensure Your Offer is Taken Seriously with PYT
August 5, 2018 by ·
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to prepare for your home loan and […]
Credit Scoring Models- FICO (Fair Isaac) to Vantage
July 25, 2018 by ·
Credit scoring started in the late 1950’s to support lending decisions in large department stores. The concept was revolutionary and by the end of the 1970’s most of the nation’s largest commercial banks, finance companies, and credit card issuers used credit scoring. It became widely accepted once Fannie Mae and Freddie Mac fully endorsed the […]
What is the Mortgage Process?
April 25, 2018 by ·
Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Karen Jones […]
Why Getting Pre-Approved Should Be Your First Step
February 5, 2018 by ·
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get Buyer Credit Approved for a mortgage […]
There’s More to a Bubble Than Rising Home Prices
January 10, 2018 by ·
What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key […]
Thinking About Buying? Know Your Credit Score
December 20, 2017 by ·
Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process. Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your […]
Why Getting Pre-Approved Should Be Your First Step
October 27, 2016 by ·
In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved […]
In a Seller’s Market: Is it Time to Downsize?
June 24, 2016 by ·
A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market. In a recent blog, Dave Ramsey, the […]
You Can Save for a Down Payment Faster Than You Think
April 11, 2016 by ·
In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing […]
