Featured Posts
DIY Home Projects: Creating a Study Space That Will Help Your Children Stay Focused
If you're a parent of school-aged children, you've likely been concerned with their study habits at some point. Sitting down in front of the television or at the dinner table to crack open the books is going to be less efficient than doing so in a quieter, more productive work space. Let's explore how to create a study space that will help keep your children focused and on task. Ask The Kids What They Need To Be Productive Before you get to work on creating a new studying space, it's a good idea … [Read More...]
It’s Pre-approval Time: How to Get Your Finances in Order for Your Mortgage Approval
Buying a new home is one of the most exciting experiences a person or family can have. Of course, before you can step foot into your new dream home you will need to get prepared financially, especially if you are taking out a mortgage to cover some of the purchase price. Let's take a look at a few key steps that will help you to prepare for the financial background checks that are part of the mortgage process. Square Up With The Government The first place you'll want to start is making sure that … [Read More...]
NAHB: Builder Confidence Dips on Hurricane Damage
Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen. NAHB Chairman Granger MacDonald said that concerns over labor and building materials were "intensified," but said that builder confidence was expected to return to high readings once rebuilding is underway. The National Association of Home Builders Housing Market Index dropped … [Read More...]
How Much Is the Right Amount to Commit to Your Down Payment? Let’s Take a Look
Are you thinking about buying a new home? If you are going to take out mortgage financing, one consideration you will have is your down payment, which is the amount you pay up front in cash to cover some of the purchase cost. Let's consider a few points that will help you to decide how much is the right amount for your down payment. How Much Do You Have? The most obvious question you will need to answer is: how much do I realistically have to place as a down payment? Keep in mind that your down … [Read More...]
What’s Ahead For Mortgage Rates This Week – September 18, 2017
Last week's economic readings release included reports on inflation, core inflation retail sales and retail sales excluding autos. Consumer sentiment, along with weekly readings on mortgage rates and new jobless claims were also reported. Inflation Exceeds Expectations, Retail Sales Lag Consumer prices rose 0.40 percent in August, which surpassed expectations of 0.30 percent growth and July's reading of 0.10 percent. Core consumer prices, which exclude volatile food and energy sectors, matched … [Read More...]
3 Useful Tips for First-time Homebuyers Trying to Navigate the System
Whether you're tired of renting, need more space or want to make an upgrade, buying your first home is the solution. However, if you have never participated in the market before it can be a bit daunting at first. Let's explore a few useful tips that are helpful for first-time homebuyers who are new to the process of buying real estate. Tip #1: Begin With The End In Mind Before you start exploring local home listings and shopping around, it's worth asking yourself both what you 'need' in a home … [Read More...]
Speed up Your Mortgage Closing Process With This Handy Four-step Guide
Are you in the market for a new house or apartment? If you are financing the purchase by taking out a mortgage, you'll want to know how to make this transaction run as smooth as possible. In today's article, we'll share a quick four-step guide to speeding up the mortgage closing process. Step #1: Check In On Your Credit Score The first step before applying for your mortgage is to check in on your credit. Request a copy of your credit score and history from one of the major reporting firms. Go … [Read More...]
Kids Moving Out of the House? Here Are 3 Tips for Creating a Warm, Welcoming Guest Bedroom
If you're a homeowner with children, at some point, you'll be saying goodbye. They'll move off to college or to start their career and adult life. As children move out, you'll discover that you have extra bedrooms and other living spaces that will need a new purpose. Let's take a look at three ways that you can transform an unused bedroom into a welcoming place for guests to stay. Get Started With A Deep Clean The first thing you'll want to do is engage in a top-to-bottom deep clean of the room. … [Read More...]
Worried About Interest Rates Rising? Here’s How You Can Prepare for an Upward Trend
Whether you are just starting to shop for a new home or you've been paying off your mortgage for years, the news of potential interest rate increases may be worrying. Of course, interest rates naturally cycle higher and lower over time, so is there anything to be genuinely concerned about? In today's article, we'll explore interest rates and how you can prepare for an upward trend in rates if and when the time comes. Speak With Your Mortgage Advisor First If you already have a mortgage, the … [Read More...]
What’s Ahead For Mortgage Rates This Week – September 11, 2017
Last week's economic news was slim due to the Labor Day Holiday. Scheduled releases included the Fed's Beige Book Report and weekly readings on mortgage rates and new jobless claims. Beige Book Cites Concerns Over U.S. Auto Industry Federal Reserve Board members shared anecdotes from their respective regions; of note were concerns about U.S. automakers. Auto production was more than 16 percent lower year-over-year in Cleveland, Ohio. Fed business contacts said that automakers are no longer … [Read More...]
You Ask, We Answer: What Are the Fees and Costs That Come Along With a Mortgage?
Have you been considering a mortgage for your next home purchase? As with any loan or financial product, there are a variety of fees and costs you may incur in the process of closing your mortgage. In today's post, we'll explore a few of these potential fees and the situations in which you may encounter them. Let's get started! Title Insurance Costs You're almost certainly going to incur insurance fees and charges. In most cases, you'll need to pay for title insurance for the lender, which is … [Read More...]
Understanding the Differences Between ‘Prequalified’ And ‘Preapproved’ For a Mortgage
Are you in the market for a new home? If you are going to rely on mortgage financing to cover some of the purchase cost, you will need to start the application process as soon as possible. However, what if you just need to know how much you will be able to borrow so you can start finding homes in your price range? Let's take a quick look at the difference between being 'prequalified' and 'preapproved' for mortgage financing. The Process Starts With Prequalification The first step in obtaining … [Read More...]
Ready to Buy Your First Home? Don’t Forget to Check Your Credit Score – Here’s Why
Whether you're just out of college, recently married or simply haven't jumped into the market yet, buying your first home is an exciting prospect. It can also be an expensive one, which is why most people will take out a mortgage to help finance the cost. If you are planning on engaging with a mortgage lender, you'll need to have your finances in order. In today's post, we'll share a few key reasons why you'll want to check your credit score well in advance of buying your first home. Your Credit … [Read More...]
What’s Ahead For Mortgage Rates This Week – September 5, 2017
Last week's economic reports included readings on home prices, pending home sales and construction spending. Weekly reports on mortgage rates and new jobless claims were released along with labor-sector readings on Non-Farm Payrolls, ADP employment and National Unemployment. Case-Shiller: Three Western Cities Hold Top Three Places for Home Price Growth According to Case-Shiller's June edition of its 20-City Home Price Index, the top three spots were again held by Seattle, Washington, Portland … [Read More...]
Expecting a Newborn? Baby-proof Your Home With This Quick and Easy Checklist
It's a very exciting time for most parents when their kids begin to crawl, but it can also be much more difficult to watch over your child and ensure their safety. If your child is starting to get along on their own and you're preparing to baby proof, here are the main areas and items you'll want to watch out for. Clearing Away The Crib There's no place your child is going to spend more time, so ensure that there are no toys left in their crib when they're going to sleep. You'll also want to … [Read More...]
4 Smart Money Habits That Will Help You Save up a Mortgage Down Payment Faster
Are you ready for home ownership? The prospect of owning your own house or apartment is an exciting one, but with any financial transaction this large there are some things to consider. The first is your down payment – that is, the initial payment you'll put against the cost of the house to reduce the amount that you're borrowing in a mortgage. Let's have a look at four habits that will help you to get your down payment saved up faster. Build (And Stick To!) A Reasonable Budget The first … [Read More...]
Case-Shiller Home Price Index: National Home Prices Reach Pre-Recession Level
According to the Case-Shiller National Home Price Index for June, Seattle, Washington continued to lead home price growth for the tenth consecutive month with a June reading of 13.40 percent growth year-over-year. Portland Oregon held second place for home price growth in the 20-City Home Price Index in June but trailed Seattle by 5.20 percent with 8.20 percent year-over-year home price growth. Dallas Texas held third place with a year-over-year home price growth rate of 7.70 percent. The … [Read More...]
Closing Costs 101: Expert Tips for Keeping Your Costs Down When Finalizing Your Mortgage
Are you thinking about buying a new home? If you are going to make use of mortgage financing, you may be wondering about some of the costs attached. As you may have heard, all mortgages have a number of fees and other costs that are assessed at the "close," or when you finalize the loan. Let's take a look at a few expert tips that will help you to keep your closing costs to a minimum when you take out your next mortgage. Aim For Zero-Closing-Cost Options If Possible One question that you will … [Read More...]
What’s Ahead For Mortgage Rates This Week – August 28, 2017
Last week's economic news included readings on sales of new and previously-owned homes, Weekly readings on mortgage rates and new jobless claims were also released, along with coverage of Fed Chair Janet Yellen's remarks at a conference in Jackson Hole, Wyoming. Home Sales Lower in July According to the Commerce Department, new home sales fell to a seven-month low in July; 571,000 new homes were sold on a seasonally-adjusted annual basis in July. This reading fell short of the expected … [Read More...]
