Tips

The Effects of Student Loan Debt on Homeownership

The dream of one day owning your own home has been an integral part of American society for generations, but in recent years soaring home prices and stagnant wages have combined to make it more difficult than ever. Even though interest rates are approaching an all-time low and there may never again be such a…

Everything You Need To Know About Mortgage Rates

If you’ve even thought about buying a house, you’ve thought about mortgage rates. They’re such a significant part of the home buying process that even people who aren’t seriously thinking about buying for a few years have spent time considering them. But mortgage rates can be confusing, especially if you’re a first-time homebuyer. Even if…

Is Now A Good Time To Refinance?

As the COVID-19 pandemic continues to affect economies around the world, mortgage interest rates are falling to almost historic lows. Indeed, in an effort to stimulate the housing sector and encourage people to keep buying homes, the Federal Reserve cut interest rates a few months ago, with mortgage rates following soon after. So, if you’re…

Roadblocks To Avoid Before Closing On Your New Home

Closing on a new home is an amazing financial and personal milestone. However, with such a big decision comes big responsibility. During this time, it’s important to plan out your next steps to set yourself up for success. Here are some of the most common roadblocks people encounter before closing on a new home –…

Pre-Qualification vs. Pre-Approval: Knowing the Difference

As you prepare to finance a new home, chances are you’ve heard the terms “pre-qualify” and “pre-approval.” Although many real estate buyers use these terms interchangeably, they’re different. Therefore, as a homeowner, understanding these differences ensures you know which to get. So What’s The Difference Between Pre-Qualification and Pre-Approval? Pre-Qualification Normally, this is the first…

Why Do Interest Rates Matter?

If you have been keeping up with the news lately, you may have noticed that there is a lot of consternation regarding what the Federal Reserve Bank, or the Fed, is doing with interest rates. However, these “big moves” are usually decimals of a single percentage point, leaving those that are not experts in finance…

Common Mistakes To Avoid When Bidding on a Property

Buying a house, in general, can be a stressful process – but when it comes to bidding on properties, it can be easy to let your emotions and impulses get the better of you. Whether it’s a dream property or you’re just desperate to find something in your price range, it’s easy to make a…

Congrats! Your Offer Has Been Accepted… Now What?

Your offer has been accepted, and you’re well on your way to having the keys for your new property in your hands. Once you’ve finished celebrating, it’s time to look at the next steps you need to go through before your moving date – and there’s plenty still to do. Here’s what happens next once…

Local Lenders vs Big Banks

Are you a first time home buyer? No matter how far along you are in the process of buying your first home, whether it is initially browsing on Zillow or working with a real estate broker to find the perfect place, you are probably well-aware of the importance of securing financing on good terms. However,…

What Is PMI and How Can I Get Rid of It?

PMI, or Private Mortgage Insurance, is a form of insurance used by mortgage lenders to reduce the potential risks associated with low down payment mortgages. Most lenders require it to be on a mortgage for over 80% of the value of the property. Essentially, PMI is designed to allow the bank to claw some of…