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.
Low existing home inventory isn’t new housing market issue. Low mortgage rates and rising home values have made many real estate markets extremely competitive with homes selling above listing price within a matter of days. According to the most recent existing home sales report, inventory is at its lowest in nearly two decades. Here’s how you can prepare for buying a home when inventory is tight.
Your loan has been fully approved and closing day has been marked on your calendar. While anticipating the day your home finally becomes your own, you’ve started to browse for furniture and appliances to deck out your new digs and intend on applying for a store credit card to score a discount. But wait; can you apply for credit when getting a mortgage?
We’re only months away from the busiest homebuying season. Whether you’re planning to make a home purchase yet this winter or are waiting until spring, you’re likely making strides to get your credit score and finances in the best shape possible. Another step you should pay a good amount of attention to: your path to home financing. Here’s what you need to know about pre-approvals versus loan commitments to determine which is the right step for you.
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.
Preparing to buy a home should start long before walking through a potential home to purchase, so if buying a home is one of your 2017 resolutions, you will find these tips helpful for building a healthy credit score. Your first official step to buying a home should always be meeting with a lender for a pre-approval, but your credit is a mortgage factor you should be continually working on when you're wanting to achieve home financing.
Tired of paying your landlord's mortgage? Keeping your eye on mortgage rates? Want to cash in on the tax benefits of homeownership? There are a million reasons why buying a home is a good idea, so we’ve compiled some of the biggest reasons why you should make your home purchase in 2017.
Happy New Year! 2016 was a hot year in the real estate market with high homebuyer demand, low inventory and historically low mortgage rates throughout the majority of the year. If this is the year you want to become a homeowner, here are 7 resolutions to make to set yourself up for the best homebuying and home financing experience.
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.