Buying your first home is an exciting milestone in your life. But without the proper saving, research and planning, this happy time can turn into a stressful situation. First-time homebuyers often don’t realize how many different loan programs are available to them, even with a lower down payment.
While mortgage applications are assessed on a case-by-case basis, there are factors that everyone should avoid to keep the approval process on track. Be sure to use our tips below to avoid stalling your mortgage approval!
If you are trying to purchase a home after a foreclosure, you are not alone. In the past decade, millions of homeowners went through foreclosure, due to sky-high housing prices and dropping property values combined with a financial downturn. Now that the housing market is more stable, we are beginning to move past these difficult times.
Spring cleaning is a longstanding tradition in our culture. But before you break out the cleaning supplies, you may be long overdue to organize your finances. Not only will this help simplify things for you, it also will set you up for months of financial success. Use our tips below to spring clean your finances!
While we saw mortgage rates at near historic lows in 2016, the year ended with rates at their highest levels since 2014. Mortgage rates began rising after the 2016 presidential election, and experts are predicting that they will continue to rise (at a slower pace) in 2017. But don’t panic. In fact, rates are still very low and now is a great time to refinance or purchase before rates rise again.
Have you been noticing your growing family is running out of room in your current home, or that your new job has more than doubled your commute? These may be signs that its time to buy a new home. Before you begin your house search, use our ideas below to create a list of must haves for your next home, so you will be happy in it for years to come!
Spring and fall are typically the ideal seasons for selling a home, but there are some circumstances that may require you to put your house on the market during the winter months. While there may be some challenges, it’s important to stay hopeful; people are still looking to buy, and you have less competition on the market. Use our tips below to help sell your home this winter!
Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy.
Moving to a new city can be both an exciting and stressful time. Whether you’re a first time homebuyer or you’re looking to make a change in 2017, you’re going to want to move to an affordable, fun and economically diverse city. Below are our top suggestions of where to live in 2017!
According to the Urban Land Institute’s annual Emerging Trends in Real Estate Report, the United States real estate market is in a better place compared to the rest of the world. If you’re thinking about buying a home in 2017, be sure to familiarize yourself the market trends below.
While more and more veterans are taking advantage of the benefits VA loans offer, some veterans are not familiar with all of the program’s unique benefits and quirks. Do you think you are eligible to qualify for a VA loan? Learn more about the program below.
Are you thinking of different New Year's resolutions to help you save in 2017? We have you covered. Incorporate our 5 resolutions below to help you keep your money in the bank in the new year.
The holidays are a joyous time of year, but if you’re not careful they can set you up for months of stress and debt to pay off. Follow our tips below to help keep your finances in order during the holiday season!
Just like you invest plenty of time searching for the perfect house, you should spend time looking for the best loan to fit your financial needs. Saving even a little bit of money on your rate will add up over the years. Below are some tips to use to help you make the right choice for your loan.
According to the latest housing trends report by Zillow, 50% of today’s homebuyers are 36 years old or younger. In addition, 47% are first-time buyers and 63% of people selling a home are doing so for the first time. With Millennials just beginning to enter the housing market, they are reshaping the market with their new approaches to shopping, financing, and purchasing their first homes.
The right conventional loan program for you heavily depends on your age, family size and current financial situation. With so many different loan choices out there, it can be difficult to decide which one will best fit your needs. Learn about the different types of loans below so you can make an educated decision.
Your mortgage is one of the biggest expenses of your life, so it makes sense that many people look to pay it off as quickly as they can afford to. If you are an individual with a good credit score, have been investing in your retirement, and have an emergency savings account, paying off your mortgage earlier than expected may be a good idea. Learn different ways to pay your mortgage down below!
Over time, the initial mortgage program you purchased your home with may no longer be the best option for you and your family. That is why many people choose to refinance, which means to trade in your old loan for a new one with a different interest rate and term. While there are both positives and negatives to refinancing, below are some reasons you may want to consider refinancing your mortgage now.
Buying your first home should be a happy and pleasant experience, but all too often, it turns into a stressful one. Listed below are five common mistakes made by first time homebuyers and how to avoid them.
Whether you’re looking to put your house on the market or boost your home’s value, first impressions matter to potential buyers and houseguests alike. Your front entry, yard, driveway, and sidewalk all serve as a snapshot of what they may see inside of your home. The good news is that there are plenty of easy and inexpensive ways for your home to be the best looking on the block. Try one of our tips below!
So far, this year in real estate has been extremely positive. This summer proved to continue this trend, with home sales increasing 5% compared to just last year! If this trend continues, it is believed that 2016 may be the best year for real estate that the U.S. has experienced in over a decade.
Buying your first home is one of the most exciting – and stressful – life events that someone can go through. After you finally find the perfect home at a price point you have been pre-approved for, it is time to get a mortgage locked down. Here is how to estimate what your monthly mortgage payment will be.
As the air gets a little cooler and the vacation days come to an end, it is time to get your home feeling cozy and festive. Without going into a shopping frenzy, there a few key items you can add to your home to give it the beautiful splash of Autumn we all know and love.
Many first-time homebuyers remain unsure as to when it’s the best time to buy a home. With so many different factors to consider, many remain intimidated from taking the next steps toward homeownership.
As the summer comes to an end, it is important to make sure your home is in tip-top shape for the next season. By conducting different home maintenance projects seasonally, you can preserve the integrity of your home for years to come.
It is no secret that rent is on the rise. The average national rent is $1,296, and in big cities like NYC, renters are looking at $3,262 per month on average. To put that in perspective, rent was about $977 per month on average in 2011. With rent rising quickly, one might assume that renters are getting more amenities and space… not so fast.
On June 23rd, 2016, Great Britain voted to exit the European Union. This exit left many to wonder what’s next in both Great Britain and abroad. The formal “Brexit” won’t be final for years, however governments and investors everywhere are beginning to prepare. Here is what you should know about Brexit’s impact on the U.S. housing market.
A study released from the State of the Nation's Housing Report from the Joint Center for Housing Studies of Harvard University found that a whopping 11 million Americans are spending more than half of their income on rent. Another 21.3 Million Americans are spending more than 30% of their income on rent, which is another high.
Whether you are looking to finally start building your own equity, or are looking to upgrade from your current home, the summer is a great time to get out and see what is on the market. Take these tips into consideration before you get started on your journey to homeownership this summer.
A second mortgage is simply a loan taken out after a first mortgage. It involves relatively the same application process as the first mortgage. Many people choose to take out a second mortgage when looking to consolidate debts, finance a home improvement project, or to make ends meet during a financial hardship. It is important to weigh the pros and the cons of a second mortgage before deciding what is right for your specific circumstance.
After getting pre-approved and settling on a home you are in love with, things start to speed up pretty fast. Once you and the seller have agreed on the terms of a contract, there are several pre-closing actions that need to be tended to. Check out our quick list of do’s and don’ts to make sure you handle your pre-closing with ease.
The men and women who sacrifice their lives for this country deserve to fulfill their dream of homeownership. It’s important veterans understand the special financing options and benefits available to them before starting the home buying process. Given the current market and especially low rates, now is a good time for military personnel to invest in a home.
As the weather gets warmer, more of us get inspired to start catching up on home improvement projects we ignored during the winter. This is the perfect time to get some of those weather-permitting projects complete. Here are some of the popular summer home renovations we recommend embarking on this summer.
Home renovations and improvements are usually the first thing homeowners embark on when they are looking to improve the value of their home. However, not all renovations are created equal. If you are looking to renovate strictly to improve value, follow these tips for improvements that actually improve home value.
Buying your first home is a momentous occasion. Such a huge accomplishment does not come easy; it takes saving, time, and planning. The entire process is easier when you are working with a mortgage company you can trust. At Home Point Financial, we want to ensure you have all of the tools you need to successfully buy your first home. Here are the major milestones you will need to cover on your road to homeownership.
Some people can only consider moving into a home that is already the home of their dreams. Others are able to imagine the possibilities of a home that others might pass right by. If you are considering buying a fixer upper, it is important to note that it isn’t an easy task. However, if you have the time, patience, and planning skills- you may be able to create the home of your dreams and dramatically increase the value of a home. Here are some things to consider when buying a fixer- upper
New Year, new home! It’s time to start fresh and make home improvements in 2016. Nothing can stop you from making this the best year possible with a more organized, efficient and clean house. Meet your home management goals this year with these top New Year’s Resolutions for a better home.
Happy New Year! One of the most common questions people wonder when considering buying a home is, “Is now a good time?” It is a valid question, as buying a home is a huge financial commitment and so many different things play into the housing market. Well, we have great news for you: 2016 is the best year to buy a home.
In the world of mortgage, it may get confusing navigating the many different terms and labels that will be thrown at you throughout the process. At Home Point Financial, it is important to us that our customers know exactly what status they are at in their mortgage process, which is why we are dedicated to educating customers on the important must-know terms in home buying.
A credit score is what lenders utilize to determine and evaluate what risk is associated with lending someone money. A credit score is typically needed before opening up a new line of credit, auto loan, a mortgage, or any other type of loan. Navigating a credit score report may be confusing, so here are the top things you need to know to understand your credit score.