Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may...
Mary’s Blog
Thursday December 9th, 2021 Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home. To determine whether you should...
Thursday November 18th, 2021 For Buyers, For Sellers, Housing Market Updates Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the...
Your DTI ratio compares your monthly debts from bills against your gross monthly income to see how your money is balanced. Your debt-to-income ratio (DTI) is very important when applying for a mortgage, but the numbers are not set in stone. For the best overview of your debt-to-income ratio and your mortgage application, speak with a lending professional today! What is a Debt-to-Income...
Buyers often don’t realize that the final walk-through before closing is a vitally important part of the homebuying process. They should be reminded that this final walk-through can determine if and when they will close on their new home. The ideal time to do the final walk-through is right before heading over to the closing. If there is a large measure of time before that, the status of the house...
If you follow the financial news, you know that the Fed recently had one of their scheduled meetings to discuss and comment on policy. First, who is the Fed? The Federal Reserve Board (the Fed) is the central banking system of the U.S. The Fed supports the U.S. economy with monetary policy. The Fed indicated it could start raising rates in 2022. These are charges for overnight loans from bank to...
When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer. Know Your Numbers Having a...
In many areas, homes that have been recently updated or renovated are flying off the market, often at a profit for the sellers. But what about a fixer-upper that the seller wants to list “as-is”? There are pros and cons to this approach. Sellers save the money they would spend on major repairs or upgrades, and the home could sell fast, since “as-is” properties typically attract flippers,...