Saving for a down payment is tough. After all, you're likely going to need to bring thousands of dollars with you to the closing table. That goal is made even tougher when you have an irregular income. That said, it's nowhere near impossible to achieve. Even those of us who have an income that [...]
Jumbo loans are more accessible than ever. According to the Mortgage Bankers Association, jumbo loan availability hit a record high in November, meaning it’s now easier for homebuyers to qualify for these larger-sized loans. Does that mean you should consider one for your home purchase? If so, what does it mean for your wallet? [...]
The mortgage process can be pretty overwhelming — especially if it's your first time around the block. In fact, according to a recent study from credit bureau TransUnion, a whopping 34% of first-time homebuyers aren't familiar with a single mortgage financing option whatsoever. Another two-thirds of first-timers don't know who Fannie Mae and Freddie [...]
You get an annual physical. You see the dentist once or twice a year. You sit down with your accountant yearly, too. Shouldn’t you check in on your mortgage just as often? Your mortgage might clock in at hundreds of thousands of dollars, and it makes up a large chunk of your household wealth. [...]
Believe it or not, 2020 is right around the corner — and with every new year comes a chance to take stock of things in your life and see how they can be improved. Your financial health is no exception. Whether you're planning on exploring the real estate market in the new year or [...]
Real estate agents help us in times of transition and change. They help us buy our dream homes and put down roots. They find buyers for the homes we grew up in, and they secure those nest eggs that will carry us into retirement. In short, they change our lives. Do you want to [...]
A shortage of housing inventory made it difficult for many homebuyers to find a house this year. And according to many experts, next year may be much of the same. As more and more Baby Boomers age in place and existing homeowners stay in their homes longer (an average of 23 years in some [...]
The Federal Reserve cut the federal funds rate three times in 2019 — and there's always a chance more cuts are coming in our future. Could that impact mortgage rates or your ability to buy a house? Does it matter at all if you've already bought a home? Yes, yes, and definitely yes. Why [...]
With 2019 coming to a close, it's time to take a look at early fourth-quarter numbers and see what they might tell us about the new year ahead. Price and sales According to the National Association of REALTORS®, existing-home sales rose by 1.9% in October while the median price for a single-family home saw a [...]