The kids have flown the nest and you’re faced with the proverbial decision on your lifelong home – do you stay or do you go? While it’s never an easy decision to sell and buy again, “downsizing” paves the way for a new style of homeownership. If you’re thinking of purchasing a new home as an empty-nester here are a few things to consider in your search.
Buying your first home used to fall in line with a sequence of other big life events. You got a job, you got married and you bought a home. Many of today’s first-time homebuyers have broken away from that series – getting married later, having kids later and settling into homeownership later. So that begs the question: when is the best time to buy your first house?
When buying a home, you have a lot of choices: what type of loan you want to use, what neighborhood you want to purchase in, which real estate agent you want to work with, etc. When you apply for a mortgage, a big choice is what type of mortgage lender you want to do your financing. Will you go to your bank, find a mortgage broker or work with a mortgage banker? We’ve laid out the definition of each type of lender to help you make the choice that’s right for you.
You’ve probably been told that the longer you stay in a home, the more financially beneficial homeownership is. But when you’ve been living in your 2-bedroom, 1.5-bathroom home for six years and added two kids and a dog into your household, how long is too long. After all, starter homes are called starter homes for a reason. Here are a few ways to tell it’s time to upsize your home.
Buying and financing a home includes navigating the world of mortgage terminology, a lot of which are acronyms, i.e. DTI, PMI, PITI, and APR. When shopping for a mortgage or any type of credit product, for that matter, keep in mind that the advertised interest rate isn't the same as your loan's annual percentage rate (APR). Here's what you should know about the difference between a mortgage rate and APR.
Though every real estate market is different, the spring and summer months are a very popular time for sellers to list their homes. In fact, a new Zillow analysis found that in all but five of the U.S.’s biggest markets, the best month to list your home is April or May.
Buying a home takes several steps, especially if you’re like the majority of homebuyers who finance their homes. While you’re eager to get into your new house, you’ll need to practice patience in a few of the steps throughout the homebuying process. Here are some typical timeframes of the steps to buying a home.
You’ve weighed the pros and cons from pricing and customization to location and home maintenance and decided that a new home is a better fit for you than purchasing an existing home. But what type of new home is the right choice for you? Learn the differences here.
As one of the most popular times of the year to buy or sell a home, the 2017 spring housing market is off to an early start. See what mortgage rates, home prices, homebuyer traffic and home inventory are doing to shape this year’s spring market.
With mortgage rates still favorable, home prices rising and the number of existing homes on the market near record a record low, having sound financing is essential if you hope to purchase a home heading into the busiest homebuying season of the year. Here’s how a loan commitment gives you a head start against other buyers in the market.