The major problem that the vast majority of buyers will run into – especially when purchasing their first home – has to do with a lease agreement that is still active with their apartment complex at the time of the purchase.
The major problem that the vast majority of buyers will run into – especially when purchasing their first home – has to do with a lease agreement that is still active with their apartment complex at the time of the purchase.
Last week’s economic reporting included readings on sales of previously-owned homes, the minutes of the Federal Reserve’s most recent Federal Open Market Committee meeting, and weekly readings on average mortgage rates and jobless claims.
Buying a house can be expensive, and it can take a long time to save up money for a down payment; however, it might be time for you to stop renting and buy your own place. What are some of the top reasons why it might be time to put down some roots?
When you are purchasing a home, your lender may recommend you obtain a mortgage pre-approval before you find the home of your dreams. There are some benefits to being pre-approved before you find a home, but oftentimes, people confuse pre-qualifications with pre-approvals.
Do you want to purchase a house? If you cannot pay cash for your house, you will need to apply for a mortgage. A mortgage loan originator can help you find the right mortgage to meet your needs. What are some of the job duties of a mortgage loan originator, and how can they help you with the financing process?
Last week’s economic news included readings on housing markets, inflation, retail sales, and data on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also published.
At the point where the buyer finds a home and decides to make an offer, the contract should be written contingent on an acceptable inspection. If serious issues are found, the buyer has the options of requesting certain items to be fixed, to be compensated for the costs of repair, for a lower purchase price or to cancel the contract.
Congratulations! You have finally closed on your home loan, and you are excited to get moved in. Or, you may have just refinanced your home, and you are excited to enjoy it.
In these days of low interest rates, it can be a great idea to get into the real estate market and invest in a home. However, if you don’t have the funds saved up to buy a home outright, it may seem like more of a burden than it’s worth. The good news is that you might qualify for a mortgage loan, which tend to come with more favorable terms than a traditional bank loan. Here are three reasons why a mortgage might just be the best money you ever borrow.
You are probably excited to close on your home, but you may have also seen that your interest rate might be a bit higher. If you are looking for a way to save money, particularly if you have a lot of work to do on the home, you might be looking for a way to reduce your interest rate during the first couple of years. One option is to perform a 2-1 buydown. What do you need to know about this option, and how do you know if it is right for you?
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