This document provides an overview of things to consider when buying a home, including reasons to buy a home in the fall, the housing market outlook, tips for finding a dream home, benefits of owning versus renting, and information on mortgages, interest rates, and down payments. It emphasizes the value of working with a real estate professional to have an expert on your side during the home buying process.
This document provides an overview of key considerations for buying a home, including reasons to buy a home in the fall, current trends in home prices and mortgage interest rates, the benefits of hiring a real estate professional, common real estate terminology, and the financial benefits of homeownership. The main points covered are that home prices are projected to continue rising, mortgage rates are low but expected to increase, real estate professionals can guide buyers through the complex home buying process, and owning a home provides tax advantages and equity building over renting.
This document provides information about buying a home, including:
- 4 reasons to buy a home this fall, such as prices continuing to rise and interest rates projected to increase.
- How rising rents can trap renters and make buying a home more affordable long-term.
- How to consider the long-term cost of a home rather than just the price when buying.
- Recent data on home price appreciation nationally and by state over the last year.
- Why using a real estate professional is important when buying a home.
This document provides information for home buyers on things to consider when buying a home. It includes articles on reasons to buy a home now rather than wait, how rising rents can trap renters, and how interest rates and home prices are projected to change over the next year. It emphasizes the importance of working with a real estate professional given the complexities of today's housing market. The document also addresses common misconceptions about what is actually required to qualify for a mortgage.
This document provides tips and information for home buyers. It discusses reasons to buy a home in winter like prices continuing to rise and mortgage rates remaining low. It also covers what to expect from the home buying process like inspections, closing costs, hiring a real estate professional and more. The document provides market statistics and forecasts on home prices, inventory and mortgage rates. It emphasizes the benefits of working with a real estate professional and being pre-approved before starting your home search.
This document discusses factors to consider when buying a home, including:
- 4 reasons to buy a home this fall: home prices will continue rising, mortgage interest rates are projected to increase, owning a home means paying your own mortgage principal rather than a landlord's, and it's time to move on with your life.
- Getting pre-approved for a mortgage before home shopping shows sellers you're serious and can help speed up the process.
- Common misconceptions around down payments and credit scores needed to qualify for a mortgage. In many areas, a 3% down payment is possible in under 2 years of saving.
- The mortgage process involves paperwork to thoroughly verify a buyer's income, assets
The document provides information to help buyers consider factors when purchasing a home, including reasons to buy now such as projected rising interest rates and home prices, the importance of hiring a real estate professional to negotiate and guide through the process, common misconceptions about down payments and credit scores needed to qualify for a mortgage, and non-financial emotional reasons why Americans purchase homes.
This document provides an overview of key considerations for buying a home. It discusses 4 reasons to buy a home now rather than waiting, including that home prices are projected to continue rising and mortgage interest rates are also expected to increase. It also addresses common misconceptions about what is needed to qualify for a mortgage, noting that smaller down payments and average credit scores are often sufficient. The document provides supporting data and argues that both home prices and interest rates will likely be higher in the future, so buying now makes financial sense.
This document provides an overview of key considerations for buying a home, including reasons to buy a home in the fall, current trends in home prices and mortgage interest rates, the benefits of hiring a real estate professional, common real estate terminology, and the financial benefits of homeownership. The main points covered are that home prices are projected to continue rising, mortgage rates are low but expected to increase, real estate professionals can guide buyers through the complex home buying process, and owning a home provides tax advantages and equity building over renting.
This document provides information about buying a home, including:
- 4 reasons to buy a home this fall, such as prices continuing to rise and interest rates projected to increase.
- How rising rents can trap renters and make buying a home more affordable long-term.
- How to consider the long-term cost of a home rather than just the price when buying.
- Recent data on home price appreciation nationally and by state over the last year.
- Why using a real estate professional is important when buying a home.
This document provides information for home buyers on things to consider when buying a home. It includes articles on reasons to buy a home now rather than wait, how rising rents can trap renters, and how interest rates and home prices are projected to change over the next year. It emphasizes the importance of working with a real estate professional given the complexities of today's housing market. The document also addresses common misconceptions about what is actually required to qualify for a mortgage.
This document provides tips and information for home buyers. It discusses reasons to buy a home in winter like prices continuing to rise and mortgage rates remaining low. It also covers what to expect from the home buying process like inspections, closing costs, hiring a real estate professional and more. The document provides market statistics and forecasts on home prices, inventory and mortgage rates. It emphasizes the benefits of working with a real estate professional and being pre-approved before starting your home search.
This document discusses factors to consider when buying a home, including:
- 4 reasons to buy a home this fall: home prices will continue rising, mortgage interest rates are projected to increase, owning a home means paying your own mortgage principal rather than a landlord's, and it's time to move on with your life.
- Getting pre-approved for a mortgage before home shopping shows sellers you're serious and can help speed up the process.
- Common misconceptions around down payments and credit scores needed to qualify for a mortgage. In many areas, a 3% down payment is possible in under 2 years of saving.
- The mortgage process involves paperwork to thoroughly verify a buyer's income, assets
The document provides information to help buyers consider factors when purchasing a home, including reasons to buy now such as projected rising interest rates and home prices, the importance of hiring a real estate professional to negotiate and guide through the process, common misconceptions about down payments and credit scores needed to qualify for a mortgage, and non-financial emotional reasons why Americans purchase homes.
This document provides an overview of key considerations for buying a home. It discusses 4 reasons to buy a home now rather than waiting, including that home prices are projected to continue rising and mortgage interest rates are also expected to increase. It also addresses common misconceptions about what is needed to qualify for a mortgage, noting that smaller down payments and average credit scores are often sufficient. The document provides supporting data and argues that both home prices and interest rates will likely be higher in the future, so buying now makes financial sense.
This document provides an overview of key considerations for buying a home. It discusses reasons to buy now such as rising home prices and projected increases in mortgage interest rates. It also covers topics like the importance of hiring a real estate professional, actual down payment and credit requirements to qualify for a mortgage, and how even small increases in interest rates can significantly impact monthly mortgage payments. The overall message is that it may make financial sense for prospective home buyers to purchase now rather than waiting.
The document discusses reasons to consider buying a home this summer. It provides 4 key reasons: 1) home prices are projected to continue rising in the next year and next 5 years, so waiting does not make financial sense; 2) mortgage interest rates are also projected to increase in the next year, raising monthly costs; 3) whether renting or owning, households pay housing costs each month towards the principal of a landlord or their own home; 4) individuals should consider if non-financial reasons for wanting to buy now, like having a place for family, outweigh waiting for potentially lower prices or rates. The document advocates consulting professionals to take advantage of today's market conditions.
There is more to buying a home than looking at houses for sale online. This brochure is packed full of great information for both the first time home buyer, and experienced property owners. For even more information, CALL TROY 770-676-8999.
This document provides information about factors to consider when buying a home. It discusses four reasons to buy a home this summer, including that home prices will continue to rise and mortgage interest rates are projected to increase. It also notes that whether renting or owning, households must pay a housing cost, and owning can help build wealth over time as home values appreciate. The document aims to help readers understand financial benefits of and timely considerations for homeownership.
Thinking about buying a home in San Diego? Here is a great guide to help you. The process of buying a home a home can be overwhelming at times, but you don't need to go through it alone.
The document provides an overview of various topics related to buying a home. It discusses reasons to buy a home now such as rising home prices and increasing mortgage interest rates. It also covers topics like how much paperwork is involved in getting a mortgage due to government regulations, and common misconceptions around down payments and credit scores needed to qualify for a mortgage. The document contains advice about hiring a real estate professional to help navigate the home buying process and negotiate a good deal. It includes surveys and data on home price forecasts, projected mortgage rates, down payments, and credit scores of home buyers.
Take a peek at the most recent sales trends and step by step home purchasing time line to help you decide if this is the right time for you to purchase a home.
National real estate trends and predictions for home buyers. This edition tells you the pros and cons of buying real estate this winter, where the rates are currently and where they may head in the future and why it's important to hire a real estate agent to guide you on your home purchasing journey.
The document provides an overview of various factors to consider when buying a home. It discusses how home prices and mortgage interest rates are projected to rise in the coming years. This would mean higher costs for homebuyers who wait. The document emphasizes that as prices rise, it may be better to buy a home now rather than waiting. Several articles examine projections for home price growth, rising mortgage rates, and the potential financial benefits of purchasing a home.
This document provides an overview of various topics related to buying a home. It includes articles on why buying a home now makes financial sense due to projected increases in home prices and mortgage interest rates. Other topics discussed include the importance of hiring a real estate professional to assist with negotiations and navigate the buying process. Additional pieces provide data on recent home price appreciation nationally and by state, compare the costs of renting vs buying, and examine projected mortgage interest rate trends. The document aims to inform potential homebuyers and emphasize the financial benefits of purchasing now versus waiting.
This document provides information and advice for homeowners considering selling their home. It discusses reasons why selling now makes sense due to strong buyer demand and limited housing supply. It also outlines tips for maximizing the sale price such as pricing the home slightly below market value and using a real estate agent who can help negotiate the best deal and properly market the home. Additional articles discuss factors like rising mortgage rates, home price appreciation trends in different areas of the country, and common mistakes made by homeowners who attempt to sell their home without an agent. The overall message is that hiring a knowledgeable real estate professional can help sellers navigate today's competitive housing market and get the best terms.
This document provides information and advice for potential home buyers. It discusses reasons to buy a home now rather than wait, such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of using a real estate professional for their negotiating skills and market expertise. Additional articles discuss saving for a down payment, the costs of renting vs buying, and the financial benefits of homeownership like building equity and tax deductions. The document aims to inform readers of current housing market trends and the process of obtaining a mortgage.
This document provides an overview of various topics related to buying a home, including:
- Home prices are projected to rise 3.4% annually over the next 5 years according to housing experts. Waiting to buy risks paying more.
- Mortgage interest rates are also expected to increase in the coming year, increasing monthly costs. It may be better to buy now before rates rise further.
- The mortgage application process requires extensive paperwork to thoroughly verify buyers' finances due to regulations put in place after the 2008 housing crisis. However, interest rates are very low by historical standards.
This document provides information to help readers consider factors involved in buying a home. It discusses 4 reasons to buy a home this summer, including that home prices are projected to continue rising. It also notes that mortgage interest rates are expected to increase over the next year. The document advises readers to work with a real estate professional when buying a home for their expertise and negotiating skills. It warns against getting trapped paying high rents and explains how homeownership can be more affordable than renting. The top reasons Americans buy homes include wanting more space and a place to call their own.
This document provides an overview of various topics related to buying a home, including:
- Home prices are projected to rise 3.4% annually over the next 5 years according to housing experts. Waiting to buy risks paying more.
- Mortgage interest rates are also expected to increase in the coming year, increasing monthly costs. Buying sooner allows locking in current rates.
- Professional assistance is recommended when buying a home to navigate the process and negotiate the best deal. Both the home buying process and mortgage qualifications involve significant paperwork requirements imposed after the 2008 housing crash to reduce risk.
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected price increases and rising mortgage interest rates. It emphasizes the importance of hiring a real estate professional to guide buyers and negotiate on their behalf. The document also outlines projections for home price increases nationally and by state over the next year, and expected increases in mortgage interest rates. It notes how even small rate increases can significantly affect monthly mortgage payments. Overall, the document advises that buyers consider long-term housing costs rather than just price when deciding whether to purchase now versus waiting.
This document provides information for potential home buyers on various topics related to the home buying process. It discusses reasons to buy a home in the summer, including that home prices are projected to continue rising in the next year. It emphasizes the importance of using a real estate professional when buying a home given the complex negotiations. It also notes that rents have been rising faster than home prices in many areas, so buying can be a way to avoid getting trapped paying high rents. Overall, the document aims to educate home buyers on current housing market trends and factors to consider when purchasing a home.
This document provides an overview of key considerations for buying a home, including:
- Prices are projected to continue rising over the next 5 years, so buying now makes financial sense. Mortgage rates are also expected to increase.
- It's important to work with a real estate professional given the complexities of the housing market and to have help negotiating the best deal.
- Rents are rising substantially faster than inflation in many areas, so buying can protect against being trapped paying high and ever-increasing rents.
- There are strong emotional and financial reasons why homeownership is an important part of the American dream and builds long-term family wealth.
- The mortgage application process is rigorous but
Learn about the best steps to take when buying your home this winter of 2018. We have made it easy to know how to get your home bought with the best terms
This document provides information for home buyers on various topics related to buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of hiring a real estate professional to negotiate the best deal and avoid potential pitfalls. It also examines projections that home prices will appreciate 3.6% annually over the next five years and mortgage interest rates are expected to rise slightly over the coming year. The document advises buyers to consider the long-term costs of homeownership rather than just the initial price.
Debbie Railey's Home Buyers Guide 2015 Summerexcell4him
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It also covers topics like the costs of owning versus renting, working with a real estate professional, and mortgage paperwork. Overall, the document advocates that now is a good time for interested buyers to purchase a home rather than waiting.
This document provides information on various topics related to buying a home. It includes articles on reasons to buy a home now rather than wait, the importance of hiring a professional real estate agent, projected increases in home prices and mortgage interest rates over the next few years, and the financial benefits of homeownership compared to renting. The document is aimed at educating potential homebuyers on current housing market conditions and factors to consider when purchasing a property.
This document provides an overview of key considerations for buying a home. It discusses reasons to buy now such as rising home prices and projected increases in mortgage interest rates. It also covers topics like the importance of hiring a real estate professional, actual down payment and credit requirements to qualify for a mortgage, and how even small increases in interest rates can significantly impact monthly mortgage payments. The overall message is that it may make financial sense for prospective home buyers to purchase now rather than waiting.
The document discusses reasons to consider buying a home this summer. It provides 4 key reasons: 1) home prices are projected to continue rising in the next year and next 5 years, so waiting does not make financial sense; 2) mortgage interest rates are also projected to increase in the next year, raising monthly costs; 3) whether renting or owning, households pay housing costs each month towards the principal of a landlord or their own home; 4) individuals should consider if non-financial reasons for wanting to buy now, like having a place for family, outweigh waiting for potentially lower prices or rates. The document advocates consulting professionals to take advantage of today's market conditions.
There is more to buying a home than looking at houses for sale online. This brochure is packed full of great information for both the first time home buyer, and experienced property owners. For even more information, CALL TROY 770-676-8999.
This document provides information about factors to consider when buying a home. It discusses four reasons to buy a home this summer, including that home prices will continue to rise and mortgage interest rates are projected to increase. It also notes that whether renting or owning, households must pay a housing cost, and owning can help build wealth over time as home values appreciate. The document aims to help readers understand financial benefits of and timely considerations for homeownership.
Thinking about buying a home in San Diego? Here is a great guide to help you. The process of buying a home a home can be overwhelming at times, but you don't need to go through it alone.
The document provides an overview of various topics related to buying a home. It discusses reasons to buy a home now such as rising home prices and increasing mortgage interest rates. It also covers topics like how much paperwork is involved in getting a mortgage due to government regulations, and common misconceptions around down payments and credit scores needed to qualify for a mortgage. The document contains advice about hiring a real estate professional to help navigate the home buying process and negotiate a good deal. It includes surveys and data on home price forecasts, projected mortgage rates, down payments, and credit scores of home buyers.
Take a peek at the most recent sales trends and step by step home purchasing time line to help you decide if this is the right time for you to purchase a home.
National real estate trends and predictions for home buyers. This edition tells you the pros and cons of buying real estate this winter, where the rates are currently and where they may head in the future and why it's important to hire a real estate agent to guide you on your home purchasing journey.
The document provides an overview of various factors to consider when buying a home. It discusses how home prices and mortgage interest rates are projected to rise in the coming years. This would mean higher costs for homebuyers who wait. The document emphasizes that as prices rise, it may be better to buy a home now rather than waiting. Several articles examine projections for home price growth, rising mortgage rates, and the potential financial benefits of purchasing a home.
This document provides an overview of various topics related to buying a home. It includes articles on why buying a home now makes financial sense due to projected increases in home prices and mortgage interest rates. Other topics discussed include the importance of hiring a real estate professional to assist with negotiations and navigate the buying process. Additional pieces provide data on recent home price appreciation nationally and by state, compare the costs of renting vs buying, and examine projected mortgage interest rate trends. The document aims to inform potential homebuyers and emphasize the financial benefits of purchasing now versus waiting.
This document provides information and advice for homeowners considering selling their home. It discusses reasons why selling now makes sense due to strong buyer demand and limited housing supply. It also outlines tips for maximizing the sale price such as pricing the home slightly below market value and using a real estate agent who can help negotiate the best deal and properly market the home. Additional articles discuss factors like rising mortgage rates, home price appreciation trends in different areas of the country, and common mistakes made by homeowners who attempt to sell their home without an agent. The overall message is that hiring a knowledgeable real estate professional can help sellers navigate today's competitive housing market and get the best terms.
This document provides information and advice for potential home buyers. It discusses reasons to buy a home now rather than wait, such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of using a real estate professional for their negotiating skills and market expertise. Additional articles discuss saving for a down payment, the costs of renting vs buying, and the financial benefits of homeownership like building equity and tax deductions. The document aims to inform readers of current housing market trends and the process of obtaining a mortgage.
This document provides an overview of various topics related to buying a home, including:
- Home prices are projected to rise 3.4% annually over the next 5 years according to housing experts. Waiting to buy risks paying more.
- Mortgage interest rates are also expected to increase in the coming year, increasing monthly costs. It may be better to buy now before rates rise further.
- The mortgage application process requires extensive paperwork to thoroughly verify buyers' finances due to regulations put in place after the 2008 housing crisis. However, interest rates are very low by historical standards.
This document provides information to help readers consider factors involved in buying a home. It discusses 4 reasons to buy a home this summer, including that home prices are projected to continue rising. It also notes that mortgage interest rates are expected to increase over the next year. The document advises readers to work with a real estate professional when buying a home for their expertise and negotiating skills. It warns against getting trapped paying high rents and explains how homeownership can be more affordable than renting. The top reasons Americans buy homes include wanting more space and a place to call their own.
This document provides an overview of various topics related to buying a home, including:
- Home prices are projected to rise 3.4% annually over the next 5 years according to housing experts. Waiting to buy risks paying more.
- Mortgage interest rates are also expected to increase in the coming year, increasing monthly costs. Buying sooner allows locking in current rates.
- Professional assistance is recommended when buying a home to navigate the process and negotiate the best deal. Both the home buying process and mortgage qualifications involve significant paperwork requirements imposed after the 2008 housing crash to reduce risk.
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected price increases and rising mortgage interest rates. It emphasizes the importance of hiring a real estate professional to guide buyers and negotiate on their behalf. The document also outlines projections for home price increases nationally and by state over the next year, and expected increases in mortgage interest rates. It notes how even small rate increases can significantly affect monthly mortgage payments. Overall, the document advises that buyers consider long-term housing costs rather than just price when deciding whether to purchase now versus waiting.
This document provides information for potential home buyers on various topics related to the home buying process. It discusses reasons to buy a home in the summer, including that home prices are projected to continue rising in the next year. It emphasizes the importance of using a real estate professional when buying a home given the complex negotiations. It also notes that rents have been rising faster than home prices in many areas, so buying can be a way to avoid getting trapped paying high rents. Overall, the document aims to educate home buyers on current housing market trends and factors to consider when purchasing a home.
This document provides an overview of key considerations for buying a home, including:
- Prices are projected to continue rising over the next 5 years, so buying now makes financial sense. Mortgage rates are also expected to increase.
- It's important to work with a real estate professional given the complexities of the housing market and to have help negotiating the best deal.
- Rents are rising substantially faster than inflation in many areas, so buying can protect against being trapped paying high and ever-increasing rents.
- There are strong emotional and financial reasons why homeownership is an important part of the American dream and builds long-term family wealth.
- The mortgage application process is rigorous but
Learn about the best steps to take when buying your home this winter of 2018. We have made it easy to know how to get your home bought with the best terms
This document provides information for home buyers on various topics related to buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of hiring a real estate professional to negotiate the best deal and avoid potential pitfalls. It also examines projections that home prices will appreciate 3.6% annually over the next five years and mortgage interest rates are expected to rise slightly over the coming year. The document advises buyers to consider the long-term costs of homeownership rather than just the initial price.
Debbie Railey's Home Buyers Guide 2015 Summerexcell4him
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It also covers topics like the costs of owning versus renting, working with a real estate professional, and mortgage paperwork. Overall, the document advocates that now is a good time for interested buyers to purchase a home rather than waiting.
This document provides information on various topics related to buying a home. It includes articles on reasons to buy a home now rather than wait, the importance of hiring a professional real estate agent, projected increases in home prices and mortgage interest rates over the next few years, and the financial benefits of homeownership compared to renting. The document is aimed at educating potential homebuyers on current housing market conditions and factors to consider when purchasing a property.
This document provides information on various topics related to buying a home, including:
- Reasons to buy a home now such as projected price increases and rising mortgage interest rates.
- The importance of hiring a real estate professional to guide buyers through the process and negotiate on their behalf.
- Analyses of home price trends nationally and by state over the last year, as well as projections that home prices will appreciate an average of 3.6% annually over the next 5 years.
- Explanations for the extensive paperwork required for mortgage loans today compared to the past in order to prevent foreclosures.
- Financial analyses of how even small increases in interest rates or home prices impact monthly mortgage
Things to Consider When Buying a Home - Summer 2015Tom Blefko
This document provides an overview of factors to consider when buying a home. It discusses how home prices are projected to rise significantly over the next 5 years according to surveys of economists. It also notes that mortgage interest rates are expected to increase by around 0.75% over the next year, which would increase monthly payments. The document therefore recommends buying now rather than waiting, to secure a lower price and interest rate before these anticipated changes occur.
This document provides an overview of factors to consider when buying a home. It discusses how home prices are projected to rise significantly over the next 5 years according to surveys of economists. It also notes that mortgage interest rates are expected to increase by around 0.75% over the next year, which would increase monthly payments. The document therefore recommends buying now rather than waiting, to secure a lower price and interest rate before these anticipated changes occur.
Are You Thinking About Buying a Home?
The process of buying a home can be overwhelming at times, but you don't need to go through it alone.
You may be wondering if now is a good time to buy a home...or if interest rates are projected to rise or fall. This free eGuide will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
Things to Consider When Buying a Home - Fall 2015Tom Blefko
This document provides an overview of key considerations for buying a home. It includes articles on reasons to buy now such as projected increases in home prices and mortgage interest rates. Other articles discuss why using a real estate professional is important, the costs of renting vs buying, and common misconceptions about qualifying for a mortgage. The document aims to inform potential homebuyers about current housing market conditions and factors to weigh when deciding whether to purchase.
This document provides an overview of key considerations for buying a home. It includes articles on reasons to buy now such as projected increases in home prices and mortgage interest rates. Other sections discuss the importance of using a real estate professional, understanding total home ownership costs beyond just price, and what to expect regarding paperwork for the mortgage process. The goal is to help buyers make informed decisions when purchasing a home.
This document provides an overview of key considerations for buying a home. It includes articles on reasons to buy now such as projected increases in home prices and mortgage interest rates. Other sections discuss the importance of using a real estate professional, understanding total home ownership costs beyond just price, and what to expect regarding paperwork for the mortgage process. The goal is to help buyers make informed decisions when purchasing a home.
This document provides an overview of factors to consider when buying a home, including reasons to buy now rather than wait. It discusses how home prices and mortgage interest rates are projected to increase in the coming years. It emphasizes the importance of working with a knowledgeable real estate agent who can guide buyers through the process and help negotiate a good deal. Projections from housing analysts and economists suggest home values will appreciate 3.6% annually over the next five years on average.
This document provides an overview of things to consider when buying a home. It discusses 4 reasons to buy a home this summer, including that home prices and mortgage interest rates are projected to continue rising. It also discusses the costs of renting versus buying, and emphasizes the importance of hiring a real estate professional when purchasing a home to guide you through the process and negotiate on your behalf. Additionally, it provides information on home price increases over the last year, factors to consider for mortgage qualification, and how purchasing a home can help build family wealth over 5 years.
This document discusses four reasons to consider buying a home now rather than waiting:
1. Home prices are projected to continue rising significantly over the next five years according to surveys of economists.
2. Mortgage interest rates are expected to increase over the next year, increasing monthly housing costs.
3. Homeowners pay down both principal and interest on their mortgage while renters only pay the landlord's costs.
4. Personal reasons for wanting to buy a home, like having a place for children to grow up, should be considered rather than just financial factors which may suggest waiting.
This document provides an overview of reasons to consider buying a home now rather than waiting. It begins by outlining projections that home prices will continue to rise 15.1-32.8% over the next 5 years and that mortgage interest rates will increase by around 1% in the next year. It then notes that whether renting or owning, households must pay housing costs, and owning allows building equity over time. Finally, it suggests considering non-financial factors like wanting the right home for one's family as reasons not to wait to buy.
KCM Keeping Current Matters is my resource for giving Buyers and Sellers in the Greater Lansing real estate market the tools they need to make good decisions. The Fall 2014 Guidebook just released for your enjoyment. Feel free to contact me at mike@mikebowler.com moving across town or across the nation.
Things to Consider When Buying a Home - Summer 2015Ellie George
This document provides an overview of key considerations for buying a home. It includes articles on reasons to buy now such as projected increases in home prices and mortgage interest rates. Other articles discuss the benefits of hiring a real estate professional, comparing the costs of renting vs buying, and perspectives on homeownership from renters and Harvard research. Throughout the document, it emphasizes the financial advantages of owning a home and encourages readers to meet with an agent if ready to purchase.
The document provides an overview of various factors to consider when buying a home. It discusses how home prices and mortgage interest rates are projected to rise in the coming years. This would mean higher costs for homebuyers who wait. The document also emphasizes the importance of hiring a real estate professional to help navigate the home buying process and negotiate on your behalf. Several articles examine current mortgage rates and home price data. Overall, the document suggests that from a financial perspective, now may be a good time for potential homebuyers to purchase rather than waiting.
El documento proporciona información sobre el mercado inmobiliario actual y consejos para los vendedores. Resalta que ahora es un buen momento para vender una casa debido a la fuerte demanda de compradores, menos competencia de otros vendedores, y un proceso de venta más rápido. Expertos predicen que la segunda mitad de 2019 será mejor para las ventas de viviendas gracias a las bajas tasas hipotecarias.
1) El documento ofrece consejos y consideraciones clave para comprar una casa, incluyendo las tendencias del mercado inmobiliario, tasas hipotecarias, razones para comprar ahora y la importancia de trabajar con un profesional.
2) Se predice que los precios de las casas y las tasas hipotecarias continuarán aumentando, por lo que es un buen momento para comprar.
3) Contratar a un agente inmobiliario experto puede ahorrar dinero y hacer que el proceso sea más fácil.
This document provides tips and information for homeowners considering selling their house. It discusses reasons why selling in the fall makes sense, including strong buyer demand, less competition from other sellers, and a quicker home selling process. It also outlines expert predictions that the housing market will continue strengthening in the second half of 2019. The document advises homeowners that now is a perfect time to sell due to low inventory, high buyer demand, and the potential for price appreciation. It argues that hiring a real estate professional provides advantages over selling a home as a for-sale-by-owner.
Este documento discute dos factores clave a considerar en el mercado de bienes raíces actual: las tasas de interés y el inventario. Las tasas de interés de las hipotecas han disminuido recientemente desde su punto máximo en 2018, pero siguen siendo más altas que hace un año. El inventario de viviendas sigue siendo bajo, lo que impacta la asequibilidad. Ambos factores afectan el poder adquisitivo de los compradores y su capacidad para comprar una casa.
Este documento discute varios factores a considerar al comprar una casa. Brevemente resume 4 razones para comprar una casa este verano, incluyendo que los precios y tasas de interés probablemente seguirán aumentando. También analiza 2 factores clave en el mercado actual: las tasas de interés han aumentado pero se han estabilizado, y el inventario está aumentando aunque sigue siendo bajo. El documento sugiere reunirse con un agente para discutir cómo esto podría afectar planes para comprar o vender.
Este documento proporciona información sobre factores a considerar al vender una casa. Resalta que la demanda de compradores sigue superando la oferta de viviendas disponibles, lo que mantiene los precios altos. También destaca 5 razones para vender una casa en primavera, incluyendo la fuerte demanda actual de compradores, menos competencia en el mercado, y procesos de venta más rápidos. El documento analiza cómo la escasez de viviendas afecta el mercado inmobiliario.
This document provides information to help homeowners considering selling their house this spring. It discusses the strong buyer demand and lower housing inventory that creates a seller's market. It also outlines 5 reasons to sell in the spring, including strong buyer activity, less competition from other sellers, a quicker home selling process, an opportunity to move up to a premium home before prices increase further, and that it may be time to move on with your life goals. The document provides tips on accurately pricing your home, choosing a real estate professional to represent you, and preparing your home to sell.
Este documento ofrece consejos sobre la compra de una casa. Resume cuatro razones para comprar una casa esta primavera: 1) los precios seguirán aumentando, 2) se proyecta que las tasas hipotecarias aumentarán, 3) de todos modos se estará pagando una hipoteca ya sea propia o ajena, y 4) es tiempo de continuar con la vida. También analiza dos factores clave en el mercado actual: las tasas de interés y el inventario disponible. Finalmente, ofrece recomendaciones sobre cómo prepararse para comprar una casa en un mercado
This document provides information for potential home buyers. It begins with an overview of factors impacting the current housing market, including interest rates and inventory levels. It then discusses reasons why buying a home this spring makes financial sense, such as prices continuing to rise and interest rates expected to increase. The document provides tips for buyers, such as getting pre-approved, understanding common real estate terms, and noting that down payments of less than 20% are widely available. Overall, it argues that owning a home is a sound financial decision that builds wealth.
This “Buyer Guide” will give you powerful marketing materials to share with clients, and help you simply and effectively explain the current market opportunities to potential buyers
Este documento proporciona información y consejos sobre la venta de una casa. Resume el mercado inmobiliario actual, incluyendo la fuerte demanda de compradores y la escasez de inventario. Ofrece cinco razones para vender una casa en invierno: 1) la alta demanda, 2) menos competencia, 3) un proceso más rápido, 4) aprovechar los altos precios para mudarse a una casa mejor, y 5) seguir adelante con la vida. Finalmente, analiza cómo los aumentos de precios han generado plusvalía para muchos pro
Este documento ofrece consejos y consideraciones para las personas que están pensando en vender su casa. Brevemente resume las principales ideas discutidas, incluyendo que ahora es un buen momento para vender debido a la fuerte demanda de compradores y baja oferta de casas, que los precios de las viviendas continuarán apreciando, y que vender podría ayudar a las personas a continuar con sus vidas de la manera que desean.
This document provides information and advice for homeowners considering selling their house. It discusses reasons why winter is a good time to sell, including strong buyer demand, less competition from other listings, and a quicker home selling process. It also covers topics like housing market trends, the impact of low inventory, tips for getting the best price when selling, and factors to consider like interest rates and home affordability. The overall message is that current market conditions favor sellers, so homeowners should take advantage and list their home if they are ready to move.
This document provides an overview of key considerations for buying a home. It discusses how interest rates and housing inventory impact home prices and purchasing power. It also outlines reasons to buy now rather than waiting, such as how rising prices and interest rates will increase costs. The document provides tips on factors to research like mortgage rates and closing costs to best prepare for the home buying process.
This “Seller Guide” will help you simply and effectively explain the current market to potential sellers, and give you powerful marketing materials to share with clients, or bring to your pre-listing appointments.
This “Buyer Guide” will give you powerful marketing materials to share with clients, and help you simply and effectively explain the current market opportunities to potential buyers.
It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone.
You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet.
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
This “Seller Guide” will help you simply and effectively explain the current market to potential sellers, and give you powerful marketing materials to share with clients, or bring to your pre-listing appointments.
This “Buyer Guide” will give you powerful marketing materials to share with clients, and help you simply and effectively explain the current market opportunities to potential buyers.
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
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Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
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Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
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The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
2. What to Expect from Your Home Inspection
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18
20
22
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Having a Professional on Your Side Makes a Difference8
10
11
13
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Buying a Home: Do You Know the Lingo?
Americans Rank Real Estate as a Best Investment for 6 Years
Running
10 Steps to Buying a Home
Things to Avoid After Applying for a Mortgage
Have You Put Aside Enough for Closing Costs?
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6
7
WHAT’S HAPPENING IN THE HOUSING MARKET?
WHAT YOU NEED TO KNOW BEFORE YOU BUY
WHAT TO EXPECT WHEN BUYING A HOME
4 Reasons to Buy a Home This Fall3
Tips for Searching for Your Dream Home
Looking to Upgrade Your Current Home? Now’s the Time to
Move Up!
What’s the Latest on Interest Rates?
Powerful Reasons to Own Instead of Rent
Where Are Home Prices Heading?
What You Should Know About Down Payments
5 Reasons to Hire a Real Estate Professional
TABLE OF CONTENTS
3. Below are four great reasons to consider buying a home today instead of waiting.
1.Prices Will Continue to Rise
CoreLogic’s Home Price Index reports that home prices have appreciated by 3.4%
over the last 12 months. The same report predicts that prices will continue to
increase at a rate of 5.2% over the next year.
Home values will continue to appreciate. Waiting may not make sense any longer.
2.Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-
year fixed rate mortgage are around 3.6%. Most experts predict rates will rise over
the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac,
and the National Association of Realtors are in unison, projecting a rate increase by
this time next year.
An increase in rates will impact your monthly mortgage payment. A year from
now, your housing expenses will likely increase if a mortgage is necessary to buy
your next home.
3
4 Reasons to Buy a Home This Fall
4. 3.Either Way, You Are Paying a Mortgage
Some renters have not yet purchased a home because they are uncomfortable taking
on the obligation of a mortgage. Everyone should realize that unless you are living
with your parents rent-free, you are paying a mortgage – either yours or that of your
landlord.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you
to have equity in your home that you can tap into later in life. As a renter, you
guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?
4.It’s Time to Move on with Your Life
The cost of a home is determined by two major components: the price of the home
and the current mortgage rate. It appears that both will be on the rise.
But what if they weren’t? Would you wait?
Examine the actual reason you're buying and decide if it is worth waiting. Whether
you want to have a fantastic place for your children to grow up, greater safety for
your family, or you just want to have control over home renovations, now could be
the time to buy.
If the right thing for you and your family is to purchase a home this year, buying
sooner rather than later could lead to substantial savings.
4
5. Bottom Line
If you’re serious about growing your assets and making the most powerful investment
in your family’s future, feel confident that Americans rank homeownership as the best
option on your side today.
5
Americans Rank Real Estate
as a Best Investment
for 6 Years Running
6. Questions continue to rise surrounding where home prices will head throughout the
rest of this year, as well as where they may be going in the near future. Here is a
look at the forecast from top experts:
6
Where Are Home Prices Heading?
Bottom Line
Experts predict home price appreciation to continue over the next few years. The
increase is projected to be steepest throughout the rest of 2019, and prices should
continue rising as we move through 2020 and beyond. With appreciation growing,
now is the best time to buy.
7. Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling
at near-historic lows. This is big news for buyers looking to get more for their money
in the current housing market.
As a potential buyer, the best thing you can do is work with a trusted advisor who can
help you keep a close eye on how the market is changing. Relying on current expert
advice is more important than ever when it comes to making a confident and
informed decision for you and your family.
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Bottom Line
Even a small increase (or decrease) in interest rates can impact your monthly
housing cost. If buying a home is on your short list of goals to achieve, let’s get
together to determine your best move.
What’s the Latest on Interest Rates?
According to Freddie Mac’s
Primary Mortgage Market
Survey, “the 30-year fixed-rate
mortgage (FRM) rate averaged
3.60 percent, the lowest it has
been since November 2016.”
Sam Khater, Chief Economist at
Freddie Mac, notes that this is
great news for homebuyers. He
states, “…consumer sentiment
remains buoyed by a strong
labor market and low rates
that will continue to drive
home sales
into the fall.”
8. In today’s fast-paced world where answers are a Google search away, there are some who
may second-guess the benefits of hiring a real estate professional. The truth is, the addition
of more information brings more confusion. Shows like Property Brothers, Fixer Upper, and
dozens more on HGTV have given many a false sense of what it’s like to buy or sell a home.
Now more than ever, you need an expert on your side to guide you toward your dreams and
not let anything get in your way of achieving them. Buying or selling a home is definitely
not something you want to DIY (Do It Yourself )!
Here are just some of the reasons you need a real estate professional in your
corner: There’s More to Real Estate Than Finding a House You Like Online
There are over 230 possible steps that must take place during every successful real estate
transaction. Determining your price, submitting an offer, and successful negotiation are
just a few key parts in the process. Don’t you want someone who has been there before?
Someone who knows what the actions are to ensure you achieve your dream?
You Need a Skilled Negotiator
In today’s market, hiring a talented negotiator could save you thousands, even tens of
thousands of dollars. Each step of the way – from the original offer, to the possible
renegotiation of that offer after a home inspection, to the potential cancellation of the
deal based on a troubled appraisal – you need someone who can keep the deal together
until
it closes.
8
Having a Professional on Your Side Makes
a Difference
9. What Is the Home You’re Selling Worth in Today’s Market?
There is so much information out there in the news and on the Internet about home
sales, prices, and mortgage rates. How do you know what’s specifically going on in your
area? Who do you turn to in order to competitively and correctly price your home at
the beginning of the selling process? How do you know what to offer on your dream
home without paying too much or offending the seller with a lowball offer?
Dave Ramsey, the financial guru, advises:
“When getting help with money, whether it’s insurance, real estate or
investments, you should always look for someone with the heart of a teacher,
not the heart of a salesman.”
Hiring an agent who has his or her finger on the pulse of the market will make your
buying or selling experience an educated one. You need someone who is going to tell
you the truth, not just what they think you want to hear.
Bottom Line
Today’s real estate market is highly competitive. Having a professional who’s been there
before to guide you through the process will give you a huge advantage.
9
10. Freddie Mac – My Home Section
Buying a Home: Do You Know the Lingo?
To confidently point you in the right direction,
here is a list of some of the most common
terms used in the home-buying process.
Appraisal – A professional analysis used to estimate the value of
the home. A necessary step in validating the home’s worth to
you and your lender to secure financing.
Closing Costs – The costs to complete the real estate
transaction. Paid at closing, they include: points, taxes, title
insurance, financing costs, and items that must be prepaid or
escrowed. Ask your lender for a complete list of closing cost
items.
Credit Score – A number ranging from 300-850 that is based on
an analysis of your credit history. Helps lenders determine the
likelihood that you’ll repay future debts.
Down Payment – Down payments are typically 3-20% of the
purchase price of the home. Some 0% down programs are also
available. Ask your lender for more information.
Mortgage Rate – The interest rate you pay to borrow money to
buy your home. The lower the rate, the better.
Pre-Approval Letter – A letter from a lender indicating you
qualify for a mortgage of a specific amount.
Real Estate Professional – An individual who provides services in
buying and selling homes. Real estate professionals are there to
help you through the confusing paperwork, find your dream
home, negotiate any of the details that come up, and to help
you know exactly what’s going on in the housing market.
The best way to ensure your home-buying process is a confident one is
to find a real estate pro who will guide you through every aspect of
the transaction with ‘the heart of a teacher’, putting your family’s
needs first.
10
11. Owning a home has great financial benefits. In a recent research paper
titled, ”Homeownership and the American Dream,” Laurie S. Goodman and Christopher
Mayer of the Urban Land Institute explained:
“Homeownership appears to help borrowers accumulate housing and nonhousing
wealth in a variety of ways, with tax advantages, greater financial flexibility due to
secured borrowing, built-in ‘default’ savings with mortgage amortization and
nominally fixed payments, and the potential to lower home maintenance costs
through sweat equity.”
Let’s break down 5 major financial benefits of homeownership:
1. Housing Is Typically the One Leveraged Investment Available
Homeownership allows households to amplify any appreciation on the value of their homes
by a leverage factor. A 20% down payment results in a leverage factor of five, meaning every
percentage point rise in the value of your home is a 5% return on your equity. If you put down
10%, your leverage factor is 10.
Example: Let’s assume you purchased a $300,000 home and put down $60,000 (20%). If the
house appreciates by $30,000, that is not only a 10% increase in value but a 50% increase
in equity.
2. You’re Paying for Housing Whether You Own or Rent
Some argue that renting eliminates the cost of property taxes and home repairs. Every
potential renter must realize that all the expenses the landlord incurs (property taxes,
repairs, insurance, etc.) are baked into the rent payment already – along with a profit
margin.
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Powerful Reasons to Own Instead of Rent
12. 3. Owning Is Usually a Form of “Forced Savings”
Studies have shown that homeowners have a net worth 44X greater than that of a
renter. As a matter of fact, it was recently estimated that a family buying an average-
priced home this past January could build $42,000 in family wealth over the next five
years.
4. Owning Is a Hedge Against Inflation
House values and rents tend to go up at or
higher than the rate of inflation. When you
own, your home’s value will protect you
from that inflation.
5. There Are Still Substantial Tax Benefits
to Owning
We know that the new tax reform bill puts
limits on some deductions on certain homes.
However, in the research paper referenced
here, the authors explain:
“…the mortgage interest deduction is not the main source of these gains; even
if it were removed, homeowners would continue to benefit from a lack of
taxation of imputed rent and capital gains.”
Bottom Line
From a financial standpoint, owning a home has always been and will always be better
than renting.
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13. In today’s market, low inventory dominates the conversation in many areas of the country. It
can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five
tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.”
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you’re serious about buying your dream home is to get pre-qualified or pre-
approved for a mortgage. Even if you’re in a market that is not as competitive, understanding
your budget will give you the confidence of knowing whether or not your dream home is
within your reach. This will help you avoid the disappointment of falling in love with a home
well outside your price range.
2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’
Do you really need that farmhouse sink in the kitchen to be happy with your home choice?
Would a two-car garage be a convenience or a necessity? Before you start your search, list all
the features of a home you would like. Qualify them as ‘must-haves’, ‘should-haves’,
or ‘absolute-wish list’ items. This will help you stay focused on what’s most important.
3. Research and Choose a Neighborhood Where You Want to Live
Every neighborhood has its own charm. Before you commit to a home based solely on the
house itself, take a test-drive of the area. Make sure it meets your needs for “amenities,
commute, school district, etc. and then spend a weekend exploring before you commit.”
4. Pick a House Style You Love and Stick to It
Evaluate your family’s needs and settle on a style of home that will best serve those needs.
Just because you’ve narrowed your search to a zip code doesn’t mean you need to tour every
listing in that vicinity. An example from the article says, “if you have several younger kids
and don’t want your bedroom on a different level, steer clear of Cape Cod–style homes,
which typically feature two or more bedrooms on the upper level and the master on the
main.”
5. Document Your Home Visits
Once you start touring homes, the features of each individual home will start to blur
together. The article suggests keeping your camera handy and making notes on the listing
sheet to document what you love and don’t love about each property you visit.
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Tips for Searching for Your Dream Home
14. 14
Looking to Upgrade Your Current
Home? Now’s the Time to Move Up!
In every area of the country, homes that are listed in the top 25% of the price range
for that area are considered 'premium homes.' In today’s real estate market, there
are deals to be had at the higher end. This is great news for homeowners who want
to upgrade from their current house and move up to a luxury or premium home.
But what if luxury or premium homes are out of your price range, yet you’re ready
to make a move? The current decrease in demand for luxury homes coupled with the
increase in demand for traditional homes is positioning a place for move-up buyers
to dive into a niche market between these two price points. The Luxury Report by
ILHM points out,
“Choosing to live in this niche helps avoid the heavy taxes of the very high-end
price point. But more importantly, it affords a lifestyle that offers luxury
amenities, easy access to travel, and time to relax or partake in a favorite
adventure or activity. As well as the opportunity of owning multiple homes – in
other parts of the country or abroad.”
This means there is a great opportunity today for those who would like to move up to
a home with similar amenities to the luxury market, but aren’t ready to take on the
price tag and responsibilities of owning a home in the upper-end of the market. A
move up to this niche will increase your home equity as value appreciates and put
you one step closer to your dream of trading up to a luxury or premium home in the
future.
Bottom Line
If you're debating upgrading your current house, let’s get together to see what will
be best for you and your family.
16. Regardless of your degree of experience with homeownership, you probably have plenty of
questions surrounding your down payment. What is truly required for a down payment? How
can you best source down payment assistance? Let’s answer those questions here.
1. How Much Do You Really Need for a Down Payment?
There is a long-standing misconception about down payment requirements. A recent survey
from Fannie Mae shows only 17% of consumers know the minimum options are actually
between 1 – 5% of the purchase price. 40% don’t know how much they need at all.
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What You Should Know About Down Payments
There are many mortgage loans
available that require as little as 3%
down for first-time buyers. Some
only ask for 3.5% down from repeat
buyers. There are even loans
available for veterans that provide
0% down payment options too.
The reality is, you don’t always
need a 20% down payment to buy.
That puts homeownership in a much
closer reach for many potential
buyers, maybe even you!
17. 2. How Can I Get Help with My Down Payment?
Regardless of the loans available, many buyers still need assistance with a down payment.
The great news is there are a lot of ways to tap into down payment assistance options.
Here are just a couple of them:
Assistance from Family Members
The National Association of Realtors (NAR) said, “a third of recent first-time buyers
received down payment assistance from family members.” They also mentioned, “the
average net worth of those aged 75 and over stands at $264,800…They just might offer
the boost the next generation needs to become homeowners.”
That means one of the ways to find help with a down payment is to accept a gift from a
family member. If this is an option for you, make sure you talk to your loan officer before
you accept the money to ensure you document the process the way your loan requires.
This way, it will be received properly and you will still have the ability to qualify.
Down Payment Assistance Programs
The reality is, not everyone has a loved one or a family member who can provide help
with a down payment. There are, however, more than 2,500 down payment assistance
programs available (by local areas like city, county, or neighborhood), and some of them
are even specifically for first-time buyers.
The gap, as mentioned in the same survey, is “only 23% of consumers are familiar with
low down payment programs.”
That’s why it is so important to get familiar with these options by doing your homework
before you plan to buy a home. Determine what is available in the area you ultimately
want to live so you have all the necessary details to take advantage of the best option for
your family.
Bottom Line
If buying a home is one of your long-term goals, you may be able to get there sooner than
you think by tapping into one of the many down payment assistance programs available.
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18. Things to Avoid After Applying for a Mortgage
Congratulations! You’ve found a home to buy and have applied for a mortgage! You're
undoubtedly excited about the opportunity to decorate your new home, but before you
make any large purchases, move your money around, or make any big-time life
changes, consult your loan officer – someone who will be able to tell you how your
decisions will impact your home loan.
Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may
seem obvious, but some may not.
1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be
able to track the source and amount of your annual income. If possible, you’ll want to
avoid changing from salary to commission or becoming self-employed during this time as
well.
2. Don’t Deposit Cash into Your Bank Accounts. Lenders need to source your money and
cash is not really traceable. Before you deposit any amount of cash into your accounts,
discuss the proper way to document your transactions with your loan officer.
3. Don’t Make Any Large Purchases like a New Car or Furniture for Your New Home. New
debt comes with it, including new monthly obligations. New obligations create new
qualifications. People with new debt have higher debt to income ratios…higher ratios make
for riskier loans…and sometimes qualified borrowers no longer qualify.
4. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you are obligated. As we
mentioned, with that obligation comes higher ratios as well. Even if you swear you will
not be the one making the payments, your lender will have to count the payments
against you.
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19. 5. Don’t Change Bank Accounts. Remember, lenders need to source and track assets.
That task is significantly easier when there is consistency among your accounts. Before
you even transfer any money, talk to your loan officer.
6. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a
new car. When you have your credit report run by organizations in multiple financial
channels (mortgage, credit card, auto, etc.), your FICO® score will be affected. Lower
credit scores can determine your interest rate and maybe even your eligibility for
approval.
7. Don’t Close Any Credit Accounts. Many clients have erroneously believed that having
less available credit makes them less risky and more likely to be approved. Wrong. A major
component of your score is your length and depth of credit history (as opposed to just
your payment history) and your total usage of credit as a percentage of available credit.
Closing accounts has a negative impact on both those determinants of your score.
Bottom Line
Any blip in income, assets, or credit should be reviewed and executed in a way that
ensures your home loan can still be approved. The best advice is to fully disclose and
discuss your plans with your loan officer before you do anything financial in nature. They
are there to guide you through the process.
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20. You made an offer and it was accepted. Your next task is to have the home inspected prior
to closing. Agents often recommend you make your offer contingent on a clean home
inspection.
This contingency allows you to renegotiate the price you offered for the home, ask the
sellers to cover repairs, or in some cases, walk away if challenges arise. Your agent can
advise you on the best course of action once the report is filed.
How to Choose an Inspector
Your agent will most likely have a short list of inspectors they’ve worked with in the past
to recommend to you. HGTV suggests you consider the following five areas when
choosing the right home inspector for you:
1. Qualifications – Find out what’s included in your inspection and if the age or location
of your home may warrant specific certifications or specialties.
2. Sample Reports – Ask for a sample inspection report so you can review how
thoroughly they will be inspecting your dream home. In most cases, the more detailed
the report,
the better.
3. References – Do your homework. Ask for phone numbers and names of past clients
who you can call to discuss their experiences.
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What to Expect from Your Home Inspection
21. 4. Memberships – Not all inspectors belong to a national or state association of home
inspectors, and membership in one of these groups should not be the only way to
evaluate your choice. Membership in one of these organizations does, however, often
mean continued training and education are required.
5. Errors and Omission Insurance – Find out what the liability of the inspector or
inspection company is once the inspection is over. The inspector is only human, after
all, and it is possible they might miss something they should see.
Ask your inspector if it’s okay for you to tag along during the inspection, so they can
point out anything that should be addressed or fixed.
Don’t be surprised to see your inspector climbing on the roof or crawling around in the
attic and on the floors. The job of the inspector is to protect your investment and find
any issues with the home, including but not limited to: the roof, plumbing, electrical
components, appliances, heating and air conditioning systems, ventilation, windows,
fireplace and chimney, foundation, and so much more.
Bottom Line
They say, ‘ignorance is bliss,’ but not when investing your hard-earned money into a
home of your own. Work with a professional you can trust to give you the most
information possible about your new home so you can make the most educated
decision about your purchase.
21
22. There are many potential homebuyers and sellers who believe they need at least a 20%
down payment in order to buy a home or move on to their next home. Time after time, we
have dispelled this myth by showing there are many loan programs that allow you to put
down as little as 3% (or 0% with a VA loan).
Once you have saved enough for your down payment and are ready to start your home
search, make sure you've also saved enough for closing costs.
Freddie Mac defines closing costs as follows:
“Closing costs, also called settlement fees, will need to be paid when you obtain a
mortgage. These are fees charged by people representing your purchase, including
your lender, real estate agent, and other third parties involved in the transaction.
Closing costs are typically between 2 & 5% of your purchase price.”
We’ve heard from many first-time homebuyers that they wished someone had let them
know closing costs could be so high. If you think about it, with a low down payment
program, your closing costs could equal the amount you saved for your down payment.
Here is a list of just some of the fees that may be included in your closing costs,
depending on where the home you wish to purchase is located:
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• Government recording costs
• Appraisal fees
• Credit report fees
• Lender origination fees
• Title services (insurance, search
fees)
• Tax service fees
• Survey fees
• Attorney fees
• Underwriting
fees
Is There Any Way to Avoid Paying Closing Costs?
Work with your lender and real estate agent to see if there are ways to decrease or defer
your closing costs. There are no-closing cost mortgages available that feature a higher
interest rate or wrap closing costs into the total cost of the mortgage (meaning you’ll end
up paying interest on your closing costs). Your lender can help you find the option that best
fits your needs.
Homebuyers can also negotiate with the seller over who pays these fees. Sometimes
the seller will agree to assume the buyer’s closing fees in order to get the deal
finalized.
Bottom Line
Speak with your lender and agent early and often to determine how much you’ll be
responsible for at closing. Finding out you need to come up with thousands of dollars right
before closing is not a surprise anyone wants to experience.
Have You Put Aside Enough for Closing Costs?
23. 23
5 Reasons
to Hire a
Real Estate Professional
Contracts
They help with all disclosures and contracts necessary in
today’s heavily regulated environment.
Experience
They are well-educated in and experienced with the entire
sales process.
Negotiations
They act as a “buffer” in negotiations for all parties
throughout the entire transaction.
Pricing
They help you understand today’s real estate values when
setting
the price of a listing or making an offer to purchase.
Understanding of Current Market Conditions
They simply and effectively explain today’s real estate
headlines and decipher what they mean to you.
24. CONTACT ME TO TALK MORE
Anthony D’Alicandro
Broker/Owner
Dwell Real Estate
Northfield, NJ
anthonydalicandro@gmail.com
www.dwellsouthjersey.com
(609) 742-5254
I’m sure you have questions and concerns about buying a home.
I would love to talk with you about what you read here, as well as help you on the path to
buying your new home. My contact information is below. I look forward to hearing from
you!
Equal Housing Opportunity