Down Payment Misperceptions Persist
January 10, 2022 The majority of home buyers—87%—finance their home purchase. But some aspiring buyers may delay their purchase due to persistent myths over down payment requirements. Thirty-five percent of consumers believe they need a down payment of 16% to 20% of the purchase price. Ten percent believe they need more than 20% for a […]
What Are Experts Saying About the Current Mortgage Rates?
Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison. Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers […]
7 Tax Benefits of Owning a Home: A Complete Guide for Filing This Year
What are the tax benefits of owning a home? Plenty of homeowners are asking themselves this right around now as they prepare to file their taxes. You may recall the Tax Cuts and Jobs Act—the most substantial overhaul to the U.S. tax code in more than 30 years—went into effect on Jan. 1, 2018. The […]
Do you know the Difference between an Appraisal and a Home Inspection?
If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. […]
What Record-Low Housing Inventory Means for You
The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which […]
Financial Fundamentals for Homebuyers
When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses. From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning. Reach out to a local […]
Mortgage Rates Hit Record Lows. Could They Fall Even Further?
One of the few bright spots for home buyers and owners in 2020—a year marred by a pandemic, economic recession, social unrest, wildfires, hurricanes, and a highly polarized presidential election—has been rock-bottom mortgage interest rates. Mortgage rates have been tumbling since COVID-19 disrupted the nation’s economy, achieving what many experts had believed was impossible: They […]
Home-Buying FAQ: Your Top Questions About Purchasing Property During the Coronavirus Pandemic
The coronavirus pandemic has thrown millions of people’s financial plans off the rails, and that certainly includes home buying. If you were hoping to purchase a property soon, you no doubt have a lot of questions—about whether it’s possible to buy or tour a house now, COVID-19’s impact on home prices, and more. We’re already […]
Mortgage FAQ: Essential Answers to All Your Questions About Home Loans in the Coronavirus Era
With the economy in unprecedented territory and the phrase “housing crash” on the lips of economists, mortgage holders have questions. And current homeowners aren’t alone: First-time home buyers in search of a new mortgage also have questions on how and when to proceed. For borrowers (and potential borrowers) in search of answers, we present your most frequently […]