First Time Home Buyers

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year

Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers /

\"YourIf you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. Using data from the Internal Revenue Service (IRS), it’s estimated that Americans […]

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Is Homeownership Still Considered Part of the American Dream?

Buying Myths, Demographics, First Time Home Buyers, For Buyers, Millennials /

\"IsSince the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: “The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many […]

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How a Change in Mortgage Rate Impacts Your Homebuying Budget

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing /

\"HowMortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: “Since January, mortgage rates have increased […]

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Why You Should Think About Listing Prices Like an Auction’s Reserve Price

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing /

\"WhyFor generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price […]

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What Credit Score Do You Need for a Mortgage?

Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers /

\"WhatAccording to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for […]

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What Is the #1 Financial Benefit of Homeownership?

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates /

\"WhatThere are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has always been the first rung on the ladder that leads to forming household wealth. As Freddie Mac explains: “Homeownership has cemented its role as part of the American Dream, providing families with a place that is […]

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How Upset Should You Be about 3% Mortgage Rates?

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers /

\"HowLast Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: 1. The bump-up […]

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How Smart Is It to Buy a Home Today?

Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Pricing /

\"HowWhether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. […]

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