In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of […]
Things to Avoid After Applying for a Mortgage
October 14, 2019 by ·
You have decided that you are going to take action to purchase your own home and have applied for a home loan with your Mortgage Loan Officer. Of course, you are going to obtain your Credit Approval from underwriting to ensure a smooth process. You’re undoubtedly excited and nervous about the opportunity and want to […]
Renters Paying Substantially More While Owning Costs Less
September 12, 2019 by ·
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.” Why the difference between the costs of renting versus owning? […]
3 Questions You Need To Ask Before Buying A Home
September 5, 2019 by ·
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Ask yourself the following three questions to help […]
Refinance Mortgages, HELOCS and Taxes
August 26, 2019 by ·
Once upon a time, if you used your home as collateral to borrow money, you could almost always count on claiming the interest expense as a deduction on your income taxes. These days, your ability to claim interest deductions will depend on how you use the money and how much you borrow.* Let’s take a […]
How Quickly Can You Save Your Down Payment?
August 19, 2019 by ·
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from HUD, Census and Apartment List, we determined how […]
How to Put Your Housing Cost to Work for You
July 30, 2019 by ·
There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time. The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments […]
Do 46 Million Millennials Know They Are Mortgage Ready?
July 24, 2019 by ·
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as part of attaining the American Dream. Millennials have taken longer to obtain traditional milestones than the generations before them, such as getting married, having kids, and buying a home. However, that does not mean that they […]
How Can I Increase My Family’s Net Worth?
July 17, 2019 by ·
Every three years, the Federal Reserve conducts their Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by […]
Why Homeownership Matters Now More Than Ever
June 24, 2019 by ·
Study after study shows that no matter what generation Americans belong to, the vast majority believe that homeownership is an important part of their American Dream. The benefits of homeownership can be broken into two main categories: financial and non-financial (often referred to as emotional or social reasons.) For Americans approaching retirement age, one of […]
