Getting ahead of the market Today we’re featuring insights and tips to help buyers prepare to enter the market, whether that day is coming soon, or further down the line. Last week the Federal Reserve raised rates by .25% again, the 10th rate hike in a row. For homebuyers, the immediate impact was limited as the […]
First Time Homebuyers
Does homebuying have ‘seasons?’
Seasons change, but do they change the market, too? Whether it’s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what’s on the calendar, buyers almost always want to know about seasonality and whether it’s the “right” time of the year […]
The lowdown on low-down payment mortgages
The new Community Affordable Loan Solution, Bank of America’s “no-down” mortgage program, is only one of a growing number of no- and low-down payment mortgage options.
Getting it right the first time: simple steps for first-time homebuyers
Three simple steps for first-time homebuyers to follow, especially in a competitive market
Are home prices *really* falling?
Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes, it’s cooling slightly, but no – it’s not as extreme as some might suggest. We have to […]
Ready, set, prep: first steps before you buy a home
If you are looking to restart your search for a home, it can be tempting to jump straight into getting a pre-approval. But you may want to spend some time sorting out your finances first, as it’ll give you a more realistic snapshot of what you can afford in a fast-changing market.
What are the Most Common Mortgage Loan Types?
Knowing what loan options are available to you enables you to choose a loan that best fits your needs. We’ll walk through the differences between the major types and categories of mortgage loans.
National Homeownership Month: 5 tips for Homebuyers in a Competitive Market
Homeownership is an enduring component of the American Dream – a benchmark Americans have measured success and well-being against for years. June marks the celebration of National Homeownership Month (NHM), dedicated to honoring those notions and celebrating the ways homeownership benefits families and communities across America.
The ABCs of ARMs: How Adjustable-Rate Mortgages Work
“Pre-crisis, a range of other variable-rate loan products were all being offered widely to consumers with little to no advisory,” notes Robert Heck, Vice President of Mortgage at Morty. “Many people have been understandably skeptical of ARMs since then, but there are much more stringent regulations in place today that have been created to protect […]
Contingent vs. Pending: What’s the Difference?
While strolling through your neighborhood (or scrolling through online listings), you might see signs on homes that read “pending” or “contingent.” When a home you’ve been eyeing finds itself in either status, you may wonder if it’s now too late to buy. The two concepts can stir up a lot of confusion: What exactly do […]
What is Mortgage Insurance and How Does it Work?
So, what is mortgage insurance — and how do you know if you must pay it? In this article, we’ll look at the definition of mortgage insurance and discuss two types of mortgage insurance: private mortgage insurance (PMI) and the Federal Housing Administration (FHA) mortgage insurance premium (MIP). We’ll also explain how mortgage insurance works […]
The Morty Report: Welcome Aboard
March 25, 2022. I’ll share my take on what’s happening in homebuying. My goal is to cut through the noise and share takeaways to help you to make informed decisions.
A Homebuyer’s Guide to Decoding Mortgage Acronyms
The first time you buy a home, you’ll probably run across a fair number of mortgage-industry terms that you haven’t encountered before. If you find yourself stumbling a bit on terms you don’t know or acronyms you don’t understand, you’re not alone. Mortgage acronyms can stymy even the most financially-savvy potential homebuyers. We’ve put together […]
These Paint Colors Can Add Thousands to a Home’s Pricetag
Hoping to add a few dollars to the selling price of your current home? Then it might be time to break out the rollers, brushes, and painter’s tape. According to a recent study by the folks at Zillow, painting your front door a particular color can increase your home’s selling price by more than $6,000. […]
Your Final Walkthrough: What to Look For and When to Put on the Brakes
You’re almost there, future homeowner! You’ve made a successful offer and sorted out your financing. Your future home appraised well, and it cleared a title search. Now, it’s time for your final walkthrough: one last look around before you officially close this deal. The point of a final walkthrough is to check that the home […]
4 Pieces of Advice First-Time Homebuyers Should Definitely Ignore
Letting folks know that you’re looking to buy your first home can open a floodgate of unsolicited advice from friends and loved-ones. Your Aunt and Uncle bought their home during the Reagan administration, but are now suddenly experts on real estate and mortgages. Your cousin saw a show about house flippers in Waco on TV. […]
3 Tips For Finding a Home You’ll Love
Buying a house can be a great investment in your future financial well-being. But unlike other financial investments, a house isn’t just a line-item on a balance sheet. When it comes to buying a home, the choice you make will shape how you live your life. The house you choose will help determine where your […]
4 Tidying Tips for First-Time Homeowners
Since Tidying Up with Marie Kondo premiered on Netflix earlier this month, it seems like everyone we talk to has hopped on the tidying-up bandwagon. For folks who haven’t seen the show or read the bestselling book, the gist of Marie Kondo’s tidying philosophy is this: people should only keep items in their homes that […]
8 Home Amenities Buyers Should Look For In 2022
If you are considering purchasing a home in 2022, you are undoubtedly dreaming of features that are important to you. As more Millennial buyers move into the market and seek out their first space, the housing market is experiencing a shift in demands and expectations in home features. From buyers focusing on green and energy-efficient […]
When It Comes to Buying a Home, Pets Matter
About 61% of American households have pets. Last year, American pet owners spent nearly 70 billion dollars on goods and services for their pets. If you’ve got a pet, chances are good that you consider your pet an important part of your family. So it’s not surprising that when it comes time to make home […]