02
May
By support
Mortgage, ,

5 Ways Millennial Buyers Can Snag Their Dream Home In This Sellers Market

According to the 2017 Home Buyer and Seller Generational Trends Report, Millennials bought 34% of the homes sold; the largest of any generation last year.  Millennials looking to buy their first, or second, home need to ready themselves for a surprisingly competitive market. Lack of supply causes attractive homes to garner multiple offers in just a few hours! What can a Millennial buyer do to appeal to sellers and be the one who ends up with the home? Here are 5 ways they can snag their dream home in this seller's market.  Get Pre-Approved Figuring out what a home buyer can afford…
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26
Apr
By support
Mortgage, ,

The Home-Buying Closing Process in a Nutshell

The closing process for a home purchase is an exciting time. The home is finished, the purchase is ready to be finalized and it's almost time to move in. The final steps of the closing process ensures both parties are able to meet their requirements and all the paperwork is in place and verified. The Key Players There are actually four parties involved in a typical closing: the buyer, the seller, the bank or lender financing the purchase, and the escrow agent. Each has an important role in making sure the closing happens effectively and efficiently. As is common with…
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24
Apr
By support
Mortgage, ,

Equity Loan and HELOC vs. Reverse Mortgage – What’s the Difference?

There are times in our lives when the idea of freeing up cash becomes desirable or necessary. Near retirement, this is a common consideration. The typical financial tool that many retirees want to know about is a reverse mortgage, but it's not the only equity tool available. Equity Loan The equity loan, or second mortgage, is essentially an additional fixed interest loan attached to the home. However, unlike the first mortgage which was used to buy the home, the second mortgage can be used for other purposes such as putting in a pool, redesigning the home to make it more accessible, or to pay for a dream vacation. This kind of loan…
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18
Apr
By support
Mortgage, ,

Pros and Cons of Adjustable Rate Mortgages

When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage. In some cases, an adjustable rate mortgage (ARM) may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it's important to understand both the pros and cons. When To Consider Adjustable Rate Mortgages Perhaps one of the best things about ARMs is they…
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17
Apr
By support
Mortgage, ,

Should You Pay Discount Points When You Get Your Mortgage?

One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy "discount points" to lower your interest rate. There are pros and cons to doing both and each borrowers situation will be different so it's important to understand which option is best for your individual situation. Some factors you should consider include: Cost of borrowing - generally speaking, to lower your interest rate will mean you pay…
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