Buying a home is likely the biggest purchase you’ll make in your lifetime, so it makes sense that preparing to buy one takes a little longer than most other purchases. With that being said, there are several mistakes you should avoid if you hope to purchase a home in the next few months.
With mortgage rates and rent prices climbing on top of the availability of several down payment assistance programs, there’s no better reason to purchase your first home sooner rather than later. Here’s how the Illinois Housing Development Authority's loan program 1stHomeIllinois makes homeownership even more enticing for first-time buyers.
Closing costs and down payments are common homebuying hurdles. Though low down payment mortgage options are readily available to homebuyers, adding that with 2 to 5 percent of a home’s purchase price in closing costs can tally up quickly. The Compass Grant Program is here to help borrowers cut down on those costs.
Buying a home is a big financial and lifestyle decision, and if it’s your first home, it can be nerve-racking. Though your mortgage banker and real estate agent will be there to guide you, there are certain things you should be aware of before jumping into your homebuying journey. Here’s our list of the biggest first-time homebuyer blunders and how to avoid them.
Closing costs and down payments are common homebuying hurdles. With that being said, we are excited to announce our introduction of Associated Bank’s Homeowner’s Edge Loan Plus (HELP) program at Compass Mortgage.
When you get a mortgage, you will most likely be paying closing costs at the finalization of your purchase or refinance. These costs, which typically range from 2 to 5 percent of your home’s purchase price, are charged by your mortgage lender and third parties that have performed services related to your home purchase (a lot of behind-the-scenes players are involved in the home buying and financing process). See here what you can expect to pay within your closing costs and ways you can try to minimize what you need to bring to closing.
You’ve been diligently working on the steps to go from renting to homeownership, setting aside money for a down payment and paying down your credit cards, but are you still buying in to some of the biggest homebuying myths?
Increasing mortgage rates coupled with rising home prices and rent costs are among a few of the reasons 2017 could be a good year for you to buy a home. Here’s what you can and should be doing now if 2017 is the year you want to get out of the rental circuit.
Buying a home, especially your first home, can sometimes be a confusing process. With new terms like earnest money and title search jumping out at you from purchase contracts and mortgage documents, you may find your head spinning. That’s why we’ve compiled some of the common home financing terms you should understand when purchasing a home.
If you’re thinking of purchasing a home in the near future because of high rent, you’re not alone. In the first quarter of 2016, one in four homebuyers was looking to purchase a home because of their expensive rent, according to Redfin. Homeownership is a big decision, so whether you plan to buy this fall or down the road, walk through these initial steps to go from renting to owning.