Looking to buy in a community with an HOA? Here’s what you need to know about your membership options. So you’ve found your dream home, but it happens to be in a neighborhood with a Homeowners Association, commonly known as an HOA. There are plenty of rules and regulations you’ll have to follow as a homeowner […]
Category Archives: For Buyers
Gap Between Homeowner and Renter Net Worth Continues to Widen
One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home. Every three years the Survey of Consumer Finances […]
A New Offer From Rocket Mortgage and Rocket Homes Claims to Help Buyers Save on Closing Costs
Rocket Mortgage, today announced BUY+, a collaboration with sister company Rocket Homes that it alleges keeps cash in consumer’s pockets. Clients who obtain purchase financing from Rocket Mortgage and find a home with the help of a Rocket Homes Partner Real Estate Agent, will receive a credit equal to 1.5% of their loan amount to put […]
How Changing Mortgage Rates Can Impact Your Purchasing Power
The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power. The chart below helps show the general relationship […]
Buying a Vacation Home – 7 Steps to Financing a Second Home
Buying a second home is a big step, but one with personal and financial rewards. Perhaps the most obvious is — it’s a place to holiday. Owning a vacation home beats staying in a tiny hotel room, spares the hassle of having to make reservations, or worrying about the cost of rental rates and restaurant prices […]
Understanding Builder Incentives
Looking to purchase a new home? We have good news for you… builder incentives are starting to return. What are builder incentives? Discounts, free upgrades, rate buy downs and seller paid closing costs – are some of the incentives offered to buyers by new home builders. These incentives can certainly save you money and are […]
How Much Does it Cost to Build a Home in 2023?
Renting vs. Buying
Many renters feel buying a home is an impossible dream. But consider this: A landlord expects to make a profit after paying the mortgage, taxes, insurance, repairs and other expenses. The landlord’s only income for the rental property is the rent paid by the tenants. As time goes on, and the value of the property […]
One Way to Reduce the Impact of Higher Mortgage Rates
You should be especially interested in this tactic if you don’t plan to live in the home for more than 5-10 years, or if you’re looking to purchase using an FHA loan with less than 20 percent down.. Mortgage rates have risen by over two percentage points since the start of the year. The average 30-year […]
The Impact of High Mortgage Rates on Buying Power
The spring housing market is in full swing, and demand remains strong. While it has never been easier or more profitable to sell a home, buyers are less optimistic. For months now, homebuyers have been challenged by the scarcity of available homes, the bidding wars that ensue, and the possibility of being priced out of […]