We help people buy houses so they can create a home. Here we share more than mortgage finance tips (although we do that too). We aim to help you make your house a home through DIY projects, pet care, hosting tips, yard maintenance, and much more!
The process of buying a home can leave you with a lot of questions but what if you have questions before you even consider buying a home? You certainly aren’t alone. A lot of people find themselves wondering if they can purchase a home despite not being as prepared as perhaps they think they should be. The best way to find out if your circumstances prevent you from buying a home is to meet with a mortgage banker or apply online—this process is free and will give you the answers you need! However, if you aren’t quite ready to submit that application just yet, check out some of the questions we have gotten below, maybe you will have your question answered too!
While the mortgage process is generally the same for most home buyers, each person has his or her own experience—own trials, own timeline and own take on feasibility. So be wary when someone shares generalized ideas about the mortgage process they could be myths. I’ve included five myths which we have found some people accept as fact.
You’ve done it! You have decided to buy a home and stop renting! So now what? How exactly do you go about breaking up with your landlord? Leave a post it note on their door? Send a well-crafted text message? Just say, “It’s not you, it’s me”? While these are all viable break up options… although not recommended, they are not to be considered when breaking up with your landlord. As a renter, you entered into a contract with your landlord so if you are ending the relationship before the contract dictates then you are breaking the contract. So really what is most important when breaking up with your landlord and moving out is the timing.
Credit is an essential part of the economy. Without credit, lenders would have no scale by which to create lending standards and determine who should receive credit and who should not. You need good credit to buy a car, get a high credit line amount credit card, and sometimes even to qualify for employment. When it comes to home buying it is no wonder why your lender is going to be concerned with your credit.
Selling your home requires a bit more than pulling the weeds, posting up pictures and waiting for the bids to start rolling in! There is a lot to consider when you want to sell your home. Don’t overlook these five things:
What is the first step to getting a mortgage? That’s easy, deciding to buy a home! Once you have done that knowing what to expect and identifying some possible road blocks will help you have confidence throughout the Mortgage process. With that said, our mortgage bankers are here to guide you along the way, answer any questions you have and curtail any fears that arise—you don’t have to experience the mortgage process alone!
Ahhh, home sweet home. Dorothy spoke the truth when clicking her red shoes together, “there’s no place like home”. As humans, we want a home base, a place we feel grounded and connected. We want this for ourselves, our partner, our kids, and even our pets. It is achievable to an extent when it comes to renting but only to a small degree. The permeance of homeownership dials up this feeling in a major way. This feeling isn’t the only benefit to owning a home; let’s look at some of the benefits of buying versus renting.
Did you know that everyone’s mortgages can be financed through different types of loans? There are several loan programs that have been created over the years to open the doors for home ownership to people of all circumstances. For all you researchers out there; looking at the variety of home loan options is a great way to see what is available and comparing them can help you to see which ones might be the best option for you. However, researching all the loan programs out there is not necessary, our mortgage bankers work with these programs every day and have been for years. By having a conversation with your mortgage banker about your goals, circumstances and type of house you are considering, they can give you the best options available.
Don’t get me wrong, living in an apartment isn’t always terrible; I had access to tennis courts and a well-maintained pool all summer, just a few steps from my front door. But I also had to walk my bag of garbage to the dumpster in the pouring rain, rush home to get my UPS package before the office closed, and deal with loud neighbors, who had weird smells coming from their place. Plus, there are just some things that now, as a homeowner, I’m not willing to give up even for tennis courts and a pool. I thought I’d make a list to share with you! I would love to hear what you have come to enjoy about being a homeowner… leave a comment below.
Long gone are the days requiring 20% down on a house. Thank goodness! Could you imagine the struggle of a generation full of college graduates working entry level jobs trying to stay on top of student loan payments trying to save up tens of thousands of dollars? Homeownership would appear to be a far-off dream that may not be achievable. So how much is needed for a down payment? That depends on what kind of home loan for which you qualify.
