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 | Category: Buyer Tips, Housing Market Updates, Lending, Mortgage, Seller Tips

VA Loans by the Numbers (Infographics)

Continue reading

Posted on November 11, 2019 at 7:00 am
Jennifer Angel | Category: 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 Macsuggests 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 | Category: 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 | Category: Buyer Tips, Buying Myths, Downpayment, First-time Homebuyers, Infographics, Mortgage, Rent vs. Buy, Seller Tips

Things to Avoid After Applying for a Mortgage

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan. Continue reading

Posted on September 23, 2019 at 7:00 am
Jennifer Angel | Category: Buyer Tips, First-time Homebuyers, Lending, Mortgage, Move-up Buyers

How Much Do You Know About Down Payments?

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today. Continue reading

Posted on August 9, 2019 at 7:00 am
Jennifer Angel | Category: Buyer Tips, Downpayment, First-time Homebuyers, Lending, Mortgage, Move-up Buyers

3 Powerful Reasons to Buy a Home Now

Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today. Continue reading

Posted on August 2, 2019 at 11:00 am
Jennifer Angel | Category: Buyer Tips, Buying Myths, First-time Homebuyers, Housing Market Updates, Lending, Mortgage, Move-up Buyers, Seller Tips | Tagged , , , ,

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Continue reading

Posted on July 23, 2019 at 8:00 am
Jennifer Angel | Category: Buyer Tips, First-time Homebuyers, Infographics, Mortgage, Seller Tips

What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

Continue reading

Posted on June 7, 2019 at 10:39 am
Jennifer Angel | Category: Buyer Tips, First-time Homebuyers, Mortgage, Move-up Buyers, Seller Tips

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Continue reading

Posted on April 27, 2019 at 8:00 am
Jennifer Angel | Category: Buyer Tips, Downpayment, First-time Homebuyers, Infographics, Lending, Mortgage, Move-up Buyers