BlogMORTGAGE BLOG

Closing Costs Explained

Blog posted On October 14, 2021

When you purchase a home, you don’t typically pay for the whole thing upfront. This is why people get mortgages loans. Once you close on your loan, you will begin making monthly mortgage payments that will pay for your home little by little. When you originate a loan, you will be required to make some initial payments upon your closing. One is the down payment. The other is your closing costs. Though you will get a full breakdown of all of your closing costs in your initial loan estimate and final closing disclosure, here’s a quick overview of the most common closing costs you can expect.

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Should You Trust Online Home Price Estimates?

Blog posted On October 13, 2021

In the age of Zillow and Zestimates, it can be difficult to discern what’s real and what’s not. Online home price calculators like Zillow’s Zestimate tool and Redfin’s Estimate calculator can give you a rough idea of how much a home is worth. This can help sellers get an idea of their market value and buyers determine what’s in their budget. However, it shouldn’t be the sole factor influencing your sales price or home offer.

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What to Expect When You Close on a Home

Blog posted On October 07, 2021

Closing on a home is an exciting start to a new future, and it’s a huge accomplishment. If you’re about to close on a home of your own – congrats! We’re sure you can’t wait to move in and start enjoying life as a homeowner. Before you do, there are a few important steps of the closing process left.

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Renting vs. Buying: Which is Right for You?

Blog posted On July 15, 2021

Buying your first home is an exciting transition, but it’s not always the right time for every renter.  Sometimes it depends on timing, other times it depends on the responsibilities and costs that come with buying a home. To help you determine which is right for you, here are some factors to consider.

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5 Myths About Buying a Home

Blog posted On May 19, 2021

Buying a home is a big step. Renting allows you to live more commitment-free, and when you think of buying, you might be worried about what it entails. For many people, they envision a large debt, strict mortgage requirements, and settling down. But not everything you hear about buying a home is true. To help you transition from renting to buying, here are five common myths about buying a home.

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5 Mortgage Terms Every First-Time Home Buyer Should Know

Blog posted On April 29, 2021

There are several different steps of the home buying process that you might not have seen on Million Dollar Listing. It might feel overwhelming at times, but professionals like a REALTOR® and loan officer can help guide you through the process. According to the National Association of REALTORS® (NAR), 91% of buyers aged 22 to 30 cited a real estate agent as a main source of information when buying a home. Among that 91%, a large majority of first-time buyers had similar questions about these five mortgage terms.

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New Home Buyers are Taking Charge of the Current Market

Blog posted On April 13, 2021

Last year, the number of first-time home buyers hit its lowest level in over 30 years. The coronavirus pandemic likely played a large role in the decline, but outside of that, the market had other challenges for first-time buyers as well. Low inventory, high demand, and rising mortgage rates are all making it harder for new buyers to break into the homeowner’s club. Consequently, first-time buyers are having to pave more creative paths to homeownership – paths that may differ from their parents and grandparents.

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More First-Time Home Buyers Choose Conventional Over FHA Loans

Blog posted On March 30, 2021

The FHA Loan has been a cost-effective staple for first-time home buyers since its creation in the 1930s. With low down payments and lenient credit requirements, the FHA Loan has helped millions of home buyers over the years. However, recent data by the National Association of REALTORS® (NAR) has shown a sharp decrease in the number of buyers who are financing their first homes with the FHA Loan. Over the past 1-2 years, more first-time buyers have been choosing the conventional financing route – but why? When might a conventional loan be a better option for first-time buyers? 

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