In the Market? Here’s What You Should Know About Contingencies
Even in a seller’s market, the majority of purchase contracts still include contingencies. Here’s a primer to help you navigate any that come your way!
Millions of homebuyers take months to find the home of their dreams, but about half don’t shop at all for the mortgage lender. In fact, shopping for the right lender is just as important as shopping for your dream home and, in the midst of the COVID-19 crisis, here are some updates you’ll NEED to know.
Single family homes in America are more expensive today than they have ever been. However, inventories are slowly improving, and prices are growing at a much slower pace and, in many markets, sales have been relatively soft even at today’s low mortgage rates.
Although markets are constantly changing due to the effects from mortgage rates, inventory, or even the seasonality in which you buy or sell, these are four signs you should look out for if you’re looking to buy.
Remarkably low mortgage rates improved affordability in and inventories of homes for sale in the first half of the year. But, through the second half of the year, shrinking supplies of listings and rising prices made it tough on buyers. Will conditions for first-time buyers be any better in 2020?
If you’re a first-time buyer, you may have encountered lenders who either suggest or require you to take a homeownership education course in order to be approved for a loan. Although it won’t help you find an affordable house in a tight market, it will help you understand how to keep it.
Making the decision to buy your first home often starts rather casually. It often begins at the dinner table or out for a walk in the most innocuous way possible.
From that initial discussion to completing the home purchase process can take 3 months, or 3 years. It all depends on where you stand – financially and with credit – along with the standing position of the housing market as a whole.
Potential homebuyer(s) need to weigh all the options, access all the factors and do what they can to make a wise decision… [read more]
Before we start it is important to understand there are a few parts and pieces of the home purchase process that you should never compromise. Comprise here – like choosing a mortgage lender based solely on interest rate or a real estate agent based on how much commission they will rebate at closing – will yield the same results as the craps table would.
Sometimes you win, but most of the time you lose… [read more]
One of the biggest traps new home-buyers fall into is using the maximum amount a mortgage professional qualifies them for instead of making sure they buy within their actual comfort zone.
In other words, buying within their budget.
You can’t buy within your budget unless you have one, so let’s get at it… [read more]
There might be some dissent amongst some housing professionals, but not everyone needs to own a home right now. Let’s face it reality, some people out there have no business owning a home at all, ever.
Most of you, however, will eventually buy a home and be perfect homeowners. You just need to do a little legwork and address a few poor early 20’s life choices.
Whatever your boat, here are some of the reasons you might consider waiting… [read more]
Your credit score, the algorithmic scoring model of your overall credit worthiness, comes into play frequently and consistently. Many times you may not even know it.
America operates in broken model of impersonal lending. A model far too heavily weighted on even more impersonal – and often inaccurate – FICO credit score.
From buying a car to getting a mortgage loan, your credit score matters. It even matters on less complex transactions; like getting a cell phone plan, activating utilities or renting a car… [read more]