We know the story: Part of you is thinking about homeownership, but another part is unsure whether you’ll qualify as a first-time homebuyer. The mortgage process can seem intimidating the first time around, which is completely understandable. You haven’t owned a home before!
Our Blog Puts YOU in the Driver’s Seat
Helping customers like you achieve their financial goals is all we do, which is why we’re arming you with our expert insight, tips, and advice to help you get there.
Who Qualifies as a First-Time Homebuyer?
Down Payment Assistance Options For First-Time Homebuyers
One of the biggest hurdles for many first-time homebuyers is getting that down payment together. We understand, especially if you’re trying to scrape together 20% of a home’s purchase price [insert large gulp here].
Budgeting for Homeownership in the New Year
Now that the holidays are behind us, it’s time to put those New Year’s resolutions into full effect. If yours include financial goals like saving for retirement, paying off student loan debt, or buying a home, then read on for some solid financial planning advice, and make sure to download our personal budgeting guide here.
The new year is a great time to think about budgeting for homeownership. When you do this correctly, you can get into your own home more quickly than you might expect.
The Cost of Waiting to Buy a Home
When it comes to investments, many people say it’s all about timing. While that’s good advice in theory, there’s simply no way to time the market if you’re purchasing a sizable investment like buying a house. In a perfect world, interest rates and prices would both be low—and this does happen, but not very frequently.
Top 8 Benefits of Homeownership
The benefits of homeownership involve more than simply putting a roof over your head. The goal of buying a house will be less meaningful until you understand the true value behind this investment. It isn’t simply to achieve the “American dream”!
Homebuyer Hacks for Today's Housing Market
Buying a home can be an exhilarating experience. You’ll be hunting for your dream home, handpicking the perfect school district, and building generational wealth through real estate. That all sounds amazing, but the process to get there can undeniably have a few stressors.
Understanding a 3-2-1 Interest Rate Buydown
Higher interest rate environments can make it difficult to buy a home, but there are silver linings and workarounds. The good news is that higher interest rates often mean less competition, lower prices, and eager sellers. These sellers can be more willing to consider concessions than they would have been in a hotter market. Today you may be able to negotiate who pays for many closing costs, including mortgage discount points.
This Is How Interest Rate Buydowns Benefit Home Sellers
Seller concessions almost never sound like a very good idea…to the home seller. For the prospective buyer, on the other hand, a little give here and there may be just what they need to close the deal and pay full asking price for your home. One of the most popular seller concessions in any real estate market is an interest rate buydown.
5 Things Home Buyers Can Be Grateful For in This Market
The housing market isn’t what it was a year ago—and that’s not necessarily a bad thing. Yes, interest rates are higher year over year, but in many markets, prices are decreasing or, at the very least, not increasing at the breakneck pace we’ve seen.
Down Payment Assistance: Differences Between Gift Funds, Grants, and Loans
Down payments can be one of the most daunting parts of the home buying process. We all know: It costs a lot to buy a home! Thankfully, you don’t necessarily have to drain your savings to come up with the sum. There are other ways to secure a down payment, including gift funds, grants, and down payment assistance programs.
How to Qualify for First Time Home Buyer Programs
Qualifying for first-time home buyer programs may not be as hard as you think. These programs are specifically designed to help a first-time home buyer like you overcome some of the more common hurdles people face when buying a home. Those hurdles, of course, include saving for a down payment and the closing costs.
Buying a House: Today’s Down Payment Requirements and Options
Buying a house isn’t just about the sticker cost or the monthly payment. A large part of your housing budget will also be your down payment. If you’ve seen lender ads before, you know that this number can be all over the board.
How to Win Against Cash Offers in Today’s Housing Market
It’s tough out there, we know. Today’s competitive housing market can keep you trapped in a vicious cycle: Find a terrific house, make an aggressive offer, get your hopes up, get outbid, start over. Rinse and repeat. Some of the biggest competitors for homes on the market today pay cash, which can make it tough when YOU don’t have cash to buy the home outright yourself.
5 Benefits of Investing in Condos for First Time Home Buyers
Buying a home involves a lot of choices—locations, type of home, type of loan, and more. When it comes to the type of home, remember that a single-family home isn’t the only option. Condos can be great places to live, not to mention solid investment properties. That’s because the condo market continues to expand and may increase your options.
Pros and Cons of Buying vs. Renting
Real Estate Investing to Build Long-Term Wealth
There are so many options out there that promise to help you build wealth. High-interest rate savings accounts can make a few drops in the bucket, but not many. The stock market is certainly a vehicle for making money, but you have to know what you’re doing, what you’re buying, and when to get out. Retirement accounts can be a great way to accrue money over time, but 65 is a long way off for some people. Then there are cryptocurrencies. A year ago, it seemed the sky was the limit for these virtual coins. This year, it’s a whole different story.
Is 2021 a Good Time to Buy a Home?
It’s the age-old question: when is it a good time to buy a home? The problem with that question is it has no right answer. You can have the most favorable market conditions in the world—low listing prices because it’s a buyer’s market, low interest rates, loose qualification standards—but if you’re not in the right position to buy, it’s still not a good time to buy a home.
What to Expect in Your First Year as a Homeowner
You’ve just bought a home. Congrats! Now, you may wake up every morning feeling exactly as you did when you were renting. After all, aside from a new home and possibly a new neighborhood, not much has changed in your day-to-day life.
While this may be true of your daily routine, your first year as a homeowner comes with some subtle differences compared to renting. For one, you’ve locked in your housing costs—and your residence—for as long as you want. There is also the peace of mind that comes with knowing that this property is yours.