Your Earnest Money Deposit Explained

The earnest money deposit is an important part of the home buying process.  One that seems to create some confusion, especially for a first time homebuyer.

When buying a home, be prepared to write a few checks up front prior to of closing.

Earnest-money-depositThe first check that is typically written is the earnest money deposit.  The deposit demonstrates to the seller … Continue reading

FHA Home Loans Help Homebuyers in 2017

FHA Home LoansFHA home loans help homebuyers from all across the country attain their dream of homeownership. Historically, FHA loans offer more leniency on loan qualifying parameters than any other type loan which makes homeownership available to homebuyers who might otherwise not qualify.

FHA home loans are able to offer easier loan qualifying because of the mortgage insurance premiums … Continue reading

Rising Rents Put On the Squeeze

Rising Rents

Rising rents are squeezing middle American’s everywhere.  Renting has become widespread with last year bringing the largest surge in renters since…ever.  With that rental communities are busting at the seams and so are the rents!  Rent continues to rise…at a faster pace than wages and home prices.

It’s not just young people who are renting these days.  Now, 40% … Continue reading

Home Affordability: Down Payment vs Interest Rates

Home affordability is a hot topic! When considering “affordability” most people unknowingly focus on the wrong thing.

Home Affordability Study

The New Yord Federal Reserve Board conducted a study on the factors impacting housing affordability and a buyer’s willingness to pay.  The goal was to gauge the sensitivity of housing demand to specific financing conditions. Click here to read the study.

In the study, households were surveyed with the respondents to assume a hypothetical.  They are to assume a move … Continue reading

100% Home Financing with USDA Home Loans

USDA home loans offer an affordable way for many people to become homeowners.  The U.S. Department of Agriculture (USDA) offers the home loan program as part of its Rural Development Guaranteed Housing Loan Program. The purpose is to promote homeownership in rural areas. The Rural Development (RD) loan program, as it is also known, is a favorite because it offers an incredibly affordable way to become a homeowner.

Tell me if I qualify.

What is “Rural?”

Rural isn’t quite … Continue reading

Home Prices Heat Up in Spring

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 pace of home sales. For example, if there are 600 homes currently listed for sale, and an average of 100 homes are selling each month, … Continue reading

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