If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains:
Mortgage rates, home prices, and the supply of homes for sale are top of mind for buyers and sellers today. And if you want the latest information for our area, let’s connect today.
Can you use the equity in your primary residence to purchase an investment property? In short, YES! But, bare in mind that there are pros and cons to doing this. Overall, I believe it is a solid option for buying an investment property. Read on to learn more.
I know many buyers are “waiting out the market” hoping to see a crash. I wouldn’t hold your breath. This isn’t a replica of 2008. There isn’t a bubble. It is simply high buyer demand and low inventory. Rates are still low, however experts are showing a steady tick up. If you wait, you could end up paying more than if you buy now.
Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay off your previous loan by applying for a new one that has better financial advantages. While there are many good reasons to refinance, here are five common ones. Scoring a lower interestContinue reading “CONSIDER THIS: WHEN TO REFINANCE”
Know your why, the motivation for a bigger home. Is it necessary to move to fulfill your desire? Know what lifestyle you want to live, can you afford (preapproved from your lender) the upsize and maintain this lifestyle? Envision yourself in this bigger home, do you have a vision for the extra space? Or do you simply just “feel” like more space would be better? Knowing your why, will help you envision how you want your home to be. If you’ve decided that it’s time to upsize, make a game plan. Are you going to sell first, or buy first? Reach out to me to discus
Choosing to enter the home buying process is likely the largest financial decision you will make in your lifetime, so it is not one that should be taken lightly. Ensuring that your other current and upcoming financial responsibilities are under control is crucial to having a smooth transaction and being able to enjoy your investmentContinue reading “TAKE 5: PREP YOUR BUDGET FOR BUYING A HOME”
Some the features that increase property values are obvious—like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values. 1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboardContinue reading “TAKE 5: WHAT AFFECTS PROPERTY VALUES?”
When house hunting, determine your “must haves” and what your “would love to, but isn’t a must.” Things to let your real estate agent know about your ideal home: Price Shop within your budget, the way the market is right now, I recommend you shop for homes that are about $50,000 below your ideal priceContinue reading “Buying a Home – Parts 2 to 4”
You’ve thought about buying a home…you’ve searched a few things and still just aren’t sure where to even start. This will likely be the most expensive purchase of your life. But, don’t get overwhelmed. I’ve broken down the home buying process into four parts