Don’t get overwhelmed with one of the most important buying decisions in your life. We discuss new home financial topics including marketing information and the new home building, buying and selling processes.
Wanting to build a new home but worried about rising interest rates? An extended rate lock may be the answer for you. Extended rate locks provide an option to lock in your loan at a set interest rate for up to 270 days. This provides protection against future interest rate increases in a rising rate …
NEWS FLASH: there’s no perfect time of the year to put your current home on the market. There are seasons when going to market can be easier, depending on your geographical region, but the truth is there are no blanket absolutes. It all depends on the home you’re selling, where it is, the real estate …
These words sound so similar, but in the mortgage business, they mean two very different things. A prequalification letter and a preapproval letter are similar. Both are free and provide you with the maximum amount of money the bank is willing to lend you, based on certain financial assumptions you provided the lender. Neither letter represents …
There are a few circumstances where you can and may prefer to purchase a new home before selling your previous home. If you are in a hot seller’s market where homes are selling quickly, for example. If you are buying new construction, you have extra time to sell your current home while your new home …
You might think all appraisals are the same, but a buyer’s choice of financing has an impact on the process. It can affect who can perform the appraisal, the minimum health and safety standards the house must meet, and the cost of the appraisal. Appraiser qualifications Not all appraisers can perform every type of loan …
The economy is strong, rates are still low, and the real estate industry is hot. For people wanting to purchase a home but struggling to scrape up the down payment, there is hope. Many people are aware that they do not need a 20% down payment. But, what you might not be aware of is …
Are you a seasonable Florida resident or wannabe? Once summer humidity retreats and leaves began turning brilliant colors, do you dream of bicycle rides on the beach? Shirtsleeve weather in January? Do you vacation for extended periods in the Sunshine State, or frequently, and dread leaving? Sounds like seasonal residency might be for you. Whether …
It’s no secret that buying a home is one of the biggest financial decisions you will make in your lifetime. It may also become one of the busiest times in your life as well. In this busy, modern world many of us shop online for goods and services, such as groceries or home owner’s insurance and …
Etiquette experts agree that giving someone a gift of cash for a birthday, graduation, or wedding celebration is commonplace. But, did you know that it’s also common to receive a gift of cash for a down payment on a home? In fact, in 2017, the National Association of Realtors Profile of Homebuyers and Sellers estimates …
According to a report by The Lenders Network, the average down payment in 2016 was 6%. If this is similar to the percentage that you plan on putting down, then your loan will require mortgage insurance. Mortgage insurance is a type of insurance that is required by the lender when putting down less than 20%. …