With interest rates having stayed mostly above 7% for much of the last two years, the mortgage refinance market hasn’t seen much activity simply because the majority of American homeowners already had mortgages with lower interest rates. But in 2024, signs are pointing to a more balanced housing market and lower interest rates are expected to play a role. more “What Homeowners Can Expect From the Mortgage Refinance Market in 2024”
Since the pandemic, the housing market has seen its fair share of ups and downs but in 2023, things finally started showing signs of stabilization. While the market remains predominantly more favorable to sellers due to a continued shortage of houses, many experts are predicting that over the course of 2024, the market will become more balanced and in most parts of the country, this will certainly benefit buyers. more “First Time Home Buyers Guide: Getting the Process Right in 2024”
Although spring and summer are considered the hottest home buying seasons, there’s something to be said about waiting until winter to get into the hunt. After all, in winter, those families who bought over the summer will be already settled into their new homes and many of those who didn’t buy will put their home buying dreams on hold until the spring thaw.
This means in winter, there’s far less competition and that can sometimes translate into sellers being more willing to negotiate. more “6 Tips for First Time Homebuyers Getting a Mortgage in Winter 2023-24”
Buying a first home is one of life’s most exciting events. But it doesn’t come without its fair share of worry. After all, we want to ensure that the home we’re buying is not only a good fit for our families and lifestyle, but also our budget. The problem is, far too many first-time buyers get sucked into the excitement of shopping for homes and end up buying more home than they realistically need (and can afford). more “How Much Should You Spend on Buying Your First Home, and Why?”
It’s been a long, hard road for first-time home buyers, but the market finally seems to be shifting to the point that more buyers will likely be hitting the streets this spring in search of their first homes. And why not? Being a first-time buyer opens the doors to tax breaks and streams of other financial benefits that come with owning a home.
That said, there’s more to buying a first home than many prospective buyers might expect. So, here’s everything a first-time buyer should know about buying their first home this spring. more “Spring Home Buying Season Is Here: Learn Everything a First-Time Buyer Should Know”
For so many first-time homebuyers, saving up enough money to make a down payment on a home can take years. But as much of a challenge as it is, it is certainly worth it because putting at least 20 percent down on a home can help a first-time buyer secure a lower interest rate and avoid having private mortgage insurance (PMI) included in their monthly mortgage payment. That said, not every first-time buyer can save money when they have so many other financial obligations to satisfy. Luckily, help is available.
If you’re in the market for your first home but you’re having difficulty saving money for a down payment, then this doesn’t mean that you are going to be out of luck. Financing help is available from a variety of resources that can help you achieve your dream of owning a home in 2023. This guide will help get you started. more “Financing Help for First Time Homebuyers in 2023”
Buying your first home can either be a pleasant experience or one that is wracked with stress and frustration. Quite often, the experience you’re left having is largely impacted by one person – your realtor. Choose the right realtor and they will help calm your concerns and get into the home of your dreams with the least amount of struggle. But choose the wrong one, and you can face a wide range of issues, including potentially losing the house you want so badly to buy.
So, in essence who you choose as your Realtor is just as important a choice, if not more so, as which home you choose to buy. Luckily, there are a few things to keep an eye out for that can help you make the right decision when choosing a Realtor to help you buy your first home. more “What Should You Look for in a Realtor When Buying Your First Home?”
Winter is a great time to purchase a home because there’s less competition, sellers are anxious to sell, and the odds of getting a good deal on a home is higher than it is in summer. But this doesn’t mean that buyers shouldn’t practice caution when choosing a home to purchase during this time of year.
As you will see, there are some mistakes that can be made that can turn your dream of home ownership into a nightmare. Here are three common mistakes you will definitely want to avoid when you’re trying to purchase a home during the winter. more “Don’t Make These Mistakes When Trying to Purchase a Home During the Winter”
For most Americans, buying their first home will be the single largest investment of their lives. And, since it takes up to 30 years before the home’s ownership is transferred from the bank to the buyer, it is only natural for both the buyer and the lender to want to protect that investment and minimize their risks. Therefore, every mortgage lender requires a home buyer to have homeowners’ insurance before they can close on their new home.
Unfortunately, insurance can be one of the more complex and confusing aspects of buying a first home, because not every home buyer needs the same type of policy. In this post, you’ll learn more about the types of insurance you might need when buying your first home. more “What Kind of Insurance Will I Need When Buying My First Home?”
For the first-time home buyer, it can be easy to get overwhelmed with all the details and requirements involved in the process of buying their first home. And for many, understanding homeowner’s insurance and everything that goes along with it can be one of the most confusing.
In this post, you will learn everything you need to know about this important mortgage requirement, including why you need to have it, the different types, common coverage options, and more. more “A Guide to Homeowner’s Insurance”
