Category: Experienced Homebuyer

Refinancing your home essentially means trading in one mortgage for another. There are many reasons you might want to refinance your home: to reduce the interest rate, take out equity for home projects, or reduce other debt. Regardless of the reason, the steps to refinancing are the same.

Private mortgage insurance (PMI) is an often-overlooked cost that homeowners may need to pay when buying their new home. Understanding PMI can help you to avoid paying it or saving money in the long term.

In this quick video, we’ll explain what land loans are and how they work.

In this quick video, we’ll explain what a construction-to-permanent loan is and how it can help you build and finance your home.

We hear from many customers that they would love to buy or build a new home, but with mortgage rates at 20-year highs, it does not seem to make sense. And why should it? If you bought or refinanced your home back in 2020 and have a 30-year fixed rate locked at 3%, it will cost you a lot more money in the long run by buying a new home today. Well, that may not be the case.

Existing home inventory is low. This is excellent news for sellers. National Association of Realtor data found existing single-family home prices increased by 4.3% during the second quarter of 2019. In this environment, listing homes at the higher end of the market is unlikely to deter eager buyers. Increased housing demand and low inventory can lead to homes selling quickly, at or above the asking price.

Before your lender will let you buy a new home, you’ll need to have it appraised. This is an often overlooked but important step in your homebuying journey.

Thinking about refinancing your mortgage? Consider these ideas to determine if now is the right time for you.

You’ve spent weeks, even months searching for your dream home.  You’ve viewed countless listings with your realtor and attended several open houses on your own.  Finally, your hard work has paid off.  You’ve found the home of your dreams and it falls with your budget; however, reality now sinks in.  You’re going need to sell your current home in order to make the down payment on the new one and the fear that your dream home will be sold to someone else while this happens becomes real.

Do you know the difference between a conforming and a non-conforming mortgage loan? We can help.