The Perks of Putting 20% Down on a Home

Written by Palm Harbor FL Mortgage Syndicated User on January 1, 2022. Posted in Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment. Here are four reasons why putting 20% down may be a great option if it works within your budget. 1. Your Interest Rate May Be Lower A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large...

How To Think Strategically as a Buyer in Today’s Market

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting...

Home Is Where the Heart Is More than Ever This Year

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us. According to the 2021 State of the American Homeowner report by Unison: “Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.” As a nation, we continue...

How Smart Buyers Are Approaching Rising Mortgage Rates

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly...

Your Journey to Homeownership [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on December 1, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some Highlights When it comes to buying a home, there are a number of key milestones along the way. The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more. When you’re ready to start your journey, let’s connect so you have trusted guidance at every milestone in the process. Content previously posted on Keeping Current Matters

Renters Missed Out on $51,500 This Past Year

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Infographics, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some Highlights Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation. Content previously posted on Keeping Current Matters

Important Distinction: Homes Are Less Affordable, Not Unaffordable

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been. Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here’s what the report...

Knowledge Is Power When It Comes to Appraisals and Inspections

Written by Palm Harbor FL Mortgage Syndicated User on November 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money,...

Reasons Renters Buy [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2021. Posted in First Time Home Buyers, For Buyers, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Rent vs. Buy.

Some Highlights When deciding whether you should rent or buy, make sure you’re considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you’re ready to take advantage of the perks of homeownership, let’s connect to explore your options. Content previously posted on Keeping Current Matters

Category: First Time Home Buyers