A new normal for the housing market There have been a few pieces of news driving conversation around the state of the housing market this week. We saw new data from the National Association of Realtors that purchase contracts dropped by 8.6% in June. We also saw the Federal Reserve raise interest rates again in a continued effort to curb inflation. Intense speculation … [Read more...] about The upside to higher rates
House hunting may be one of the most enjoyable parts of buying a home. However, you might find that you have even more fun when you go the extra mile and get pre-approved for a mortgage first. Getting a pre-approval may help you feel more confident going into the home buying process because you'll know how much house you can afford. It also shows sellers that you’re a … [Read more...] about How to Get a Mortgage Pre-Approval
When you're getting ready to buy a house, your lender will want to see your credit score, a three-digit number that represents how well you pay back debt. Before you apply for a mortgage, keep in mind that your credit score represents one of the most important aspects of qualifying for a mortgage, but it's not the only qualification. So, what credit score is needed … [Read more...] about What Credit Score is Required to Buy a House?
Getting a mortgage may seem like a complex task with many layers and steps involved. However, the first step to breaking down the process involves answering the most basic question: "What is a mortgage?" Understanding the very basics of mortgages may help you gain more confidence as you search for your dream home. We'll walk you through various mortgage options and take you … [Read more...] about What is a Mortgage? A Guide for Beginners in 2022
When buying a home, one of your first thoughts probably turns to the following question: "How much house can I afford?" You may wonder how large of a house you should and can purchase (especially when buying your first home). It's one of the most important questions you can ask, because you want to feel as comfortable with your monthly mortgage payments as possible … [Read more...] about How Much House Can I Afford?