If you’re in the market for a new home, getting a mortgage is par for the course, unless you’re able to pay for the property in cash. Having an understanding of important real estate terms helps to make the home buying process easier. Once you have a handle on the real estate lingo, we recommend reviewing the various types of mortgage loan options.
While there are many types of mortgages, here are some of the most common you may encounter, especially as a first-time homebuyer.
Popular Mortga...
Moving can be a stressful situation for all members of the family, both human and animal. But while you know the reason for packing up all your belongings and moving into a brand-new space, there is really no way to explain it to your dog.
Dogs are very much creatures of habit and routine, so something as big as moving into a new home can be the catalyst for some understandable anxiety. The change can be especially stressful if your dog has only ever lived in one place for his entire life.
...
Last week, the U.S. Federal Reserve lowered interest rates for the first time in over a decade. The decrease is for 25 basis points or a quarter of a percent (0.25%). This is the first time we’ve seen a decrease since 2008. In January, the Fed announced they would hold off interest rate hikes as 2018 had four consecutive months of increases. As of July, the federal funds rate has been reduced.
How will this interest rate cut affect you?
Buying a home, a car, and using credit cards generally...
Buying a home (especially your first home) can be a very intimidating process, but it’s an incredibly rewarding one! Since buying a home will more than likely be the largest purchase of your life, you want to make sure every step you take is one in the right direction.
Here are some useful tips for first time home buyers that will help make the home buying process a little easier.
Know What You Can Afford
There’s no way to ease into how vital finances are for buying a home. This is especial...
If you’re looking to buy your first home, the cost is one of the most important factors to consider. And the cost of buying a home goes beyond the home’s list price and how much can you afford to pay monthly for your mortgage. When buying a home, there are other factors that need to be considered, as well, such as the down payment, closing costs, and other taxes and fees that are due in addition to your monthly mortgage payment.
Traditionally, we consider 20% to be the magic number when It co...
If you’ve been looking to buy a home recently, you might have heard people talking about there being low inventory in the housing market. And if you’re having trouble finding homes in your price range, you’ve likely experienced this firsthand.
But what does low inventory mean when it comes to real estate? Real estate inventory correlates to home availability: in situations where there are few homes available, there is “low inventory.” If people are not looking to sell, there are no homes for...
Whether you’re looking to buy or sell your home, spring can be an especially busy time for real estate. As the snow melts and the flowers begin to bloom, everyone is ready for a little bit of change.
If you are looking to buy a new home this spring, we can help! Follow these tips to help make sure your home buying experience goes as smoothly as possible!
