When buying a home, this is going to involve some upfront expenses on your part. And while you’ll get that money back (and more) as you gain equity, that process takes time. If you plan to move too soon, you may not recoup your investment. For example, if you’re looking to sell and move again […]
A real estate agent can help you apply the findings in the home inspection report, and they will guide you so you can avoid reacting emotionally. NAR research shows buyers appreciate a real estate professional’s experienced eye in pointing out unnoticed features and faults of a property, according to the National Association of REALTORS®. An agent […]
Buyers occasionally change their minds about purchasing a home. They may have faced a job relocation, found a house they liked better, been unable to sell their current house, or just fallen out of love with this home. Some options include: If the contract includes contingencies — such as for the sale of a current […]
The Home Inspection can sometimes uncovers serious problems. No home is perfect, but serious problems —for example, with the home’s foundation or major systems — may concern you enough to renegotiate with the seller. Some options include: Ask the seller to make some of the repairs flagged in the inspection report. Use the inspection report […]
When applying for a mortgage, the amount a lender will preapprove you for will be based on multiple factors including: Income: Your gross monthly income and any other income you receive. Credit score: Higher credit scores — 700 or above — tend to qualify for larger loan amounts and lower interest rates, even though lower scores are […]
Here are the primary steps for a Home Loan Preapproval: Initial application: You’ll contact a lender and provide basic financial information. Document collection: You’ll provide requested documents like pay stubs and bank statements. Credit check: The lender will pull your credit report — revealing your credit score and credit history — as as a basis for evaluating whether […]
Cost savings are a big driver for living in a multigenerational home. We have noticed the trends of more siblings pooling financial resources to qualify for a mortgage and young adults moving back with their parents to cut expenses. We have seen a lot of first-time home buyers who are on the sidelines right now […]
If you refinance your home, you may have to pay closing costs; discount points (used to increase the lender’s yield or profit on the loan and equal to one percent of the loan amount); appraisal fees; application or loan processing fees; document prep and recording fees; origination or underwriting fees; lender or funding fees; loan […]
Hiring an agent when you decide to buy a home helps you understand the buying process and the local market. They’ll also go over contracts and fine print with you, so you understand what you’re agreeing to. Plus, they’re good at negotiating, making sure you get the best deal. Expert advice from a trusted real […]
If you think about everything that needs to be done to sell your house, you certainly will feel overwhelmed. Take one step at a time, one small task at a time. Break it down to manageable-sized chores and you’ll have better results. First things first – have a garage sale. Whatever doesn’t sell needs to […]
