Category: Experienced Homebuyer

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.

Let’s look at how a cash-out mortgage refinance works, and some potential pros and cons.

Congratulations, you have found your dream home! You and your realtor have worked out all the details with the seller and have finally agreed to the purchase price. Now what?

You’re ready to buy a new home. You’ve agreed on a price, have a mortgage ready, and booked the movers. However, there is one final expense you’ll need to deal with before you can sign your paperwork, collect your keys, and move in. It’s called closing costs. Understanding what closing costs are and how much you’ll need to pay for them will help you budget for your new home.

Multi-generational living is defined as adults from multiple generations living in the same home. This form of living is on the rise in the U.S. after declining for years and a record 60.6 million Americans live in multigenerational households according to data from Pew Research Center. Reasons include growing racial and ethnic diversity in the U.S., more young adults living at home, economic necessity and a larger percentage of the US population over age 65.  Whatever the reason that may be causing you to consider multigenerational living with some planning, you can make this living arrangement work for everyone.

How Much of Your Income Should Go Toward Housing? If you’re ready to start house-hunting – or if you’re just looking to build a better budget – you need to know how much of your income should go toward housing.

One of the biggest joys of owning a home is that your mortgage payment allows you to build equity in it. Home equity is the difference between your home’s value and what you owe. Some homeowners enjoy building equity so much; they want to know ways they can build it faster. Here we explore ways you can do that.

Additions and major home renovation projects make your house feel more like a home and potentially boost its functionality and resale value. But unless you are in a position to pay cash for renovations, you’ll be looking to finance them in the form of a loan.  There are many different options you should consider based on the scope of your project, amount you are looking to borrow and the equity available in your home.  Here we’ll discuss three of the more common ones that are available to borrowers today.

You’ll want to weigh your options carefully and choose the type of mortgage that makes the most sense for your individual situation.