High home prices and rising mortgage rates have become a source of frustration for homebuyers, especially first-time homebuyers trying to enter the housing market. However, if first-time homebuyers compare home prices and rates to what previous generations paid, they may be shocked by what they learn. Decades ago, the average home price was a fraction …
Should I get pre-qualified or pre-approved to buy a home?
Pre-qualified vs. pre-approved Ask anyone in the housing industry what the first thing you should do is when planning to buy a home this spring, and they will say get pre-approved. However, that can mean different things to different people. Do they mean pre-approved or pre-qualified? In this competitive market, you must know the difference …
What are the most important real estate terms to know when buying a home?
For first-time homebuyers, the process of buying a home may be daunting, and it is not helped by the variety of new vocabulary words one will hear as one begins this journey. Understanding this new vocabulary is essential during the home buying process. It will deepen your understanding of the real estate market and make …
Is multi-generational housing the future of housing?
There’s no doubt that COVID-19 has significantly impacted how and where we live. In the early days of the pandemic, a significant migration of people leaving cities and moving to the suburbs occurred as working from home became the norm. In addition, with many people losing jobs and young people unable to land well-paying entry-level …
A holiday wish list for your home
While most homeowners are running around preparing for the holidays, keep in mind your home may have a wish list of its own. Since your home is your single largest investment in most cases, it makes sense to protect it from the elements. Taking some low-cost preventative actions could save you money and eliminate stress …
Why is raising conforming loan limits good for borrowers?
Baseline Conforming Loan limits will increase to $647,200 When the FHFA raises conforming loan limits, homeowners may get larger mortgage loans with lower interest rates. Conforming loans are generally the most attractive for homeowners since they are backed by Fannie Mae and Freddie Mac. Generally, they are the easiest to qualify for and have the …
