Posts Tagged ‘down payment’
Buyer Tip – Do not max out your budget!
Maxing out your home buying budget can be tempting especially after pre-approval, but it can also cause plenty of financial risk down the road. Making sure you leave yourself enough room for other financial goals is sure to help you in the long term. A rule of thumb to keep in mind when purchasing your…
Read More4 Tips For Buying Your First Home
If “Buy my first home” is at the top of your list of life goals, here are 4 tips to getting those papers signed and having the keys in your hand. 1. Clean Up Your Credit Your credit score is one of the main factors that determines whether you get a loan to purchase your…
Read More7 Budgeting Tips To Help You Buy Your First Home
So you’ve decided to purchase your first home. Congratulations! Purchasing a home is a huge decision, and it can be one of the most exciting and rewarding experiences of your life. But purchasing a home requires capital, and if your savings account is looking a little trim, it means that you will have to do…
Read MoreThe Mortgage Process: What You Need to Know
Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
Read MoreMore Than Half of All Buyers Are Surprised by Closing Costs
According to a survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than…
Read MoreMillennial’s eGuide To Home Ownership Now Available
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone. This eGuide was created to help answer the questions that first-time millennial homebuyers frequently ask about the market, benefits of homeownership, qualifying for a mortgage, and so much more! You may be wondering if now…
Read MoreHappily Ever Homeowner
Married couples once again dominated the first-time homebuyer statistics last year at 66% of all buyers, according to the most recent Profile of Home Buyers & Sellers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. Many couples are deciding…
Read MoreNumber of Buyers Putting Down Less Than 10% Hits 7-Year High
According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high. Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream…
Read MoreDon’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750
The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they…
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