Mortgage Rates Hit Record Lows for Three Consecutive Weeks

Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):

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Posted on July 21, 2020 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, Housing Market Updates, Mortgage, Move-up Buyers, Rent vs. Buy, Seller Tips |

Why Homes Are More Affordable This Year

Today’s low interest rates are driving home affordability. Let’s connect to discuss how buying a home may be a great move for you this year.

Posted on July 20, 2020 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, First-time Homebuyers, Housing Market Updates, Mortgage, Move-up Buyers, Video |

Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]

Some Highlights

  • Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
  • Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan.
  • Let’s connect to determine the best way to position yourself for a move in today’s market.

Posted on May 28, 2020 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, First-time Homebuyers, Housing Market Updates, Infographics, Lending, Mortgage, Move-up Buyers |

20 Ways to Save Money and Stretch Your Household Budget

These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.

Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals. Continue reading

Posted on May 7, 2020 at 6:00 am
Jennifer Angel | Posted in Buyer Tips, Community, COVID-19, First-time Homebuyers, Millenials, Mortgage, Move-up Buyers, Newsletter, Seller Tips |

Is Now a Good Time to Refinance My Home?

With interest rates hitting all-time lows over the past few weeks, many homeowners are opting to refinance. To decide if refinancing your home is the best option for you and your family, start by asking yourself these questions: Continue reading

Posted on March 25, 2020 at 7:00 am
Jennifer Angel | Posted in Lending, Mortgage, Move-up Buyers, Seller Tips |

The #1 Misconception in the Homebuying Process

After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, Director of Economic Research at Zillow, explained in a recent article: Continue reading

Posted on February 21, 2020 at 11:00 am
Jennifer Angel | Posted in Buyer Tips, Buying Myths, First-time Homebuyers, Housing Market Updates, Lending, Mortgage |

Forget the Price of the Home. The Cost is What Matters.

Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased their 12-month projection for home values from 4.5% to 5.6% over the last few months. Continue reading

Posted on November 12, 2019 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, Housing Market Updates, Lending, Mortgage, Seller Tips |

VA Loans by the Numbers (Infographics)

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Posted on November 11, 2019 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, Downpayment, Housing Market Updates, Mortgage |

Taking the Fear Out of the Mortgage Process

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:

  1. Find out your current credit history and credit score– Even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® for all closed loans in September was 737, according to Ellie Mae.
  2. Start gathering all of your documentation– This includes income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval– A pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

Are you thinking of selling or buying real estate this year?  Contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.

Posted on November 1, 2019 at 7:00 am
Jennifer Angel | Posted in Buyer Tips, Buying Myths, First-time Homebuyers, Lending, Mortgage, Move-up Buyers |

Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC]

Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home. This stops many people from even trying to jump into homeownership! Here are some facts to help take the fear out of the process: Continue reading

Posted on October 31, 2019 at 10:41 am
Jennifer Angel | Posted in Buyer Tips, Buying Myths, Downpayment, First-time Homebuyers, Infographics, Mortgage, Rent vs. Buy, Seller Tips |