Are You a Realistic Homebuyer?
/in Hombuyer /by Tim McMurdoYou 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 Stay in Your Home for 5 to 7 Years?
/in Hombuyer /by Tim McMurdoYou 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?
/in Hombuyer /by Tim McMurdoBased 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?
/in Hombuyer /by Tim McMurdoDo 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?
/in Hombuyer /by Tim McMurdoBuying 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
/in Hombuyer /by Tim McMurdoDo 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 […]
Use Your Tax Refund to Grow Your Down Payment
/in Hombuyer /by Tim McMurdoAre 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. […]
Give the Gift of Expert Advice this Holiday Season with a Homebuyer Gift Certificate
/in Hombuyer /by Tim McMurdoWe all know someone that wants to start looking for their first home. For first-time homebuyers, the entire process is intimidating. There are a lot of questions that buyers want to ask, but there is not always an expert at hand to give the answers they need. Buying a home is one of those times when […]
Is the Housing Crisis Over?
/in Homeowner /by Tim McMurdoUnemployment figures are down, home values are on the rise, and the economy is generally moving in the right direction. However, many people are still feeling the effects of the home crisis. Unfortunately, this means they are struggling to pay their mortgages or their home is under water (they owe more than the home is […]