So you want to buy a home? Well, most likely you will need a mortgage in order to do that. One of the biggest myth’s in the buying a home today that it is “very difficult” to get approved for a mortgage. That’s just not true. Contrary to this common belief, getting approved for a mortgage is … Continue reading
Home prices are on the rise this Spring. Home prices are determined by housing supply, housing demand and housing affordability. It’s pretty much the lesson we learned in economics 101.
Housing Supply: What’s the Outlook?
Housing supply measures how many months it would take to sell all the houses currently listed for sale, at the current … Continue reading
You just wrote a contract on a home, and now it’s time to complete your application for a home loan. Here are the documents you will need to provide your mortgage lender:
The term ‘mortgage’ dates back to before the horse and buggy, as far back as the 1300-1400’s and literally means a dead pledge. Funny term, right? I’ll explain…
In more recent cultures, it means to convey title for the repayment of money. The dead pledge comes into play this way: If you pay the property … Continue reading
If you are wanting to buy a home, you need a down payment. The down payment is the one-time, upfront amount needed by a homebuyer which is paid at closing and represents a percentage of the purchase price. Sometimes, saving up enough dough can seem a bit overwhelming.
The good news is you might not … Continue reading
Your credit scores usually determine the price you pay for your money (your mortgages, your auto loans and leases, your credit cards, business loans, etc.). Perhaps the most significant part of your credit report is your credit score. Credit scores range from 350 to 850, with 850 being the best possible credit score that you … Continue reading
Dreaming of buying a home can be a lot of fun, especially if it’s a first home. Maybe it’s a townhouse in the suburbs, a condo in the city, or an open concept floorplan near the lake. No matter what you’ve been dreaming for your first home, it’s a place you want to be.
While you’ve … Continue reading
Buying a home is often thought of as sage advice. It’s most likely your largest financial commitment and homeownership is considered an investment in your future that improves your financial position. Buying a home leads to higher net worth that those who remain renters. (see previous post on Harvard Study)
While buying a … Continue reading
For over a decade, I’ve reported that the American Dream of homeownership makes sense for many people. It makes sense for an assortment of reasons, including financial reasons – the recent Harvard Study continues to point to significant wealth gains for homeowners.
Since the late 1980’s the Harvard Joint Center for Housing Studies has issued … Continue reading
Continued super low interest rates and rising rents has many people asking the question, “should I consider buying a home now or continue to rent?” Perhaps its followed by the question, “ugh, it’s a lot of responsibility…am I ready to commit to taking care of a home?” The endless loop of questions and retorts that bring … Continue reading