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First Time Home Buyers

Four Low Down Payment Mortgage Programs

Four Low Down Payment Mortgage Programs Too many Americans who want to buy a home feel they can’t because they don’t have the cash to put 20 percent down on the mortgage. It’s safe to say that the down payment is one of the biggest obstacles to homebuying today. And, it doesn’t have to be. Here are four low down payment mortgage programs to get you in the home of your dreams. 1. Fannie Mae’s...

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Mortgage Interest Rates Are Still Great! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment...

The Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to...

Low Interest Rates Have a High Impact on Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...

The Mortgage Process: What You Need to Know

What You Need to Know About The Mortgage Process What you need to qualify in today's market: Down Payment - Generally between 5-20% of the purchase price. However, many home buyers are putting down 10% or less - with some putting down as little as 3% Income Verification, Credit History & Asset Documentation - the paperwork needed to apply for a mortgage on the balance of the purchase price of...

Benefits of owning a home

The 5 Greatest Benefits of Homeownership

Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves your community. Let’s expand on...

The High Impact of Low Interest Rates on Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...

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