Do You Know Enough about the Homebuying Process?

Do You Know Enough about the Homebuying Process?

When you buy your first home, you have a lot to learn about the homebuying process and the decisions that need to be made along the way. You need to understand many new terms and make confusing decisions about mortgages, homebuyer programs, and more. What is PMI and will you have to pay for it? […]

Are You Being a Realistic Homebuyer?

Are You a Realistic Homebuyer?

You have been dreaming of buying your own home. You have your finances in perfect order. You have a good steady job and you are planning on living in the home long term. According to television, all you have to do is visit three homes, decide which big expensive house you want and somehow, all […]

Are you planning to live in your home for the next 5 to seven years?

Are You Planning to Stay in Your Home for 5 to 7 Years?

You know that buying a new home is expensive. However, you might not understand that a significant portion of that cost happens up front, when you close on the home. Transaction costs come in the form of title fees, home inspections, loan origination fees, appraisal fees, and other closing costs. Long term, these costs would be […]

Are you Mortgage Ready?

Are You Mortgage Ready?

Based upon your answers to the first two questions, you might have some idea about your ability to qualify for a mortgage. However, one of the most common mistakes that potential homebuyers make is to assume that they won’t qualify for a mortgage. Don’t assume that you wont qualify. Go ahead and meet with a […]

Have you saved enough money to buy a home?

Have You Saved Enough Money to Buy a Home?

Do you have enough money for a down payment, for closing costs, and to have an emergency savings fund? Typical mortgages will require you to have a down payment equal to at least 3% of the home’s purchase price. On the other hand, some specialty mortgage products (such as VA loans and Rural Development Loans) […]

Is your credit history good enough to buy a home?

Is Your Credit History Good Enough to Buy a Home?

Buying your first home is not easy. Especially post recession, when the banks tightened up on their lending requirements and consumer protection regulations have changed.  The homebuying process requires discipline, commitment, and a willingness to climb the steep learning curve to becoming a homebuyer. However, interest rates are still a tremendous bargain and homeownership is […]

Keeping Fluctuating Mortgage Rates in Perspective

  Do you obsess about fluctuations in mortgage interest rates? The average 30 year mortgage rate just went down from last week’s 4.01% to 3.97%, a difference of .04 percentage points. Well…so what? What does that small change mean to you, the homebuyer? Are you keeping fluctuating mortgage rates in perspective? In a nut shell, it […]

Man shovels snow from his driveway.

How to Shovel Your Driveway

Use Your Tax Refund to Grow Your Down Payment

Are you facing a bump on the road to buying your own home? You really want to buy a house or a condo. Your rent is going up faster than your paycheck and you want to invest in your future instead of your land lord’s. But coming up with a down payment is a big obstacle. […]