Wednesday, October 16, 2019 / by Ashley Yates
By: Kelly Walters
They can slash your down payment, offer lower interest rates or help with low credit scores.
You know first-time home-buyer programs are out there.
But how do you find the right one?
Start by talking to a local mortgage broker. They’ll be familiar with the programs that are most likely to benefit you -- including local home-buyers programs that might not be as well publicized.
These programs have provided an average of $11,000 in assistance to individual home buyers, according to Down Payment Resource, a nationwide database of roughly 2,500 home ownership programs that helps match buyers and properties. That assistance can vary greatly between disparate cost-of-living markets like Southern California and Iowa, according to Down Payment Resource. Some 87% of properties are eligible for some kind of assistance.
Of the programs tracked by Down Payment Resource, for example, 69% offer down payment assistance.
“Paying 20% down is, quit ...
Wednesday, October 9, 2019 / by Ashley Yates
By: Amy Howell Hirt
There are a lot of steps to buying a house, and that takes time: It takes 50 days on average to just close on a home.
How long does it take to buy a house? A lot depends on how much time you spend shopping for one. But once you have a contract, it takes an average of 50 days to close on a house.
There are a lot of steps to buying a house, and any of them could drag out the timeline, especially if you're not prepared. Here's the home-buying timeline, broken down step-by-step, so you can be in control:
1. Do Your Homework
Time: 1-14 days
Dreaming about owning your own home is one thing; making it happen is another. To get beyond the dream stage, you need to do some critical research to help you figure out what you do and don't want — along with how much can you afford.
It's mighty disappointing to fall in love with a house only to find out you can't afford it. A quick chat with your bank can help ...
Wednesday, September 25, 2019 / by Ashley Yates
Published: April 12, 2018
Passing the inspection advances you to the next level: closing the deal on your house.
Getting beyond the home inspection is sort of like advancing to the next level in a video game.
When you get past this step, you get to advance to a fresh, exciting place — your new home, to be exact.
In Every Inspection, There Are Stakes for Buyers and Sellers
Once the buyer has made, and you’ve accepted, the offer, your home will get the once-over from the buyer’s home inspector. The inspection is usually a contingency of the offer, meaning the buyer can back out based on serious problems discovered. The lender also expects an inspection to make sure it’s making a good investment. Makes sense, right?
During the home inspection, an inspector will examine the property for flaws. Based on the inspector’s report the buyer will then give you a list of repair requests.
Your agent will wo ...
Wednesday, September 18, 2019 / by Ashley Yates
With this super-simple breakdown of loan types, you won’t get overwhelmed — you’ll find the right mortgage.
When it comes to buying a house, most people know what they prefer: a bungalow or a condo, a hot neighborhood or a sleepy street.
Mortgages, too, come in many styles — and recognizing which type you should choose is just slightly more involved than, say, knowing that you prefer hardwood floors over wall-to-wall carpeting.
First things first: To pick the best loan for your situation, you need to know what your situation is, exactly. Will you be staying in this home for years? Decades? Are you feeling financially comfortable? Are you anxious about changing loan rates? Consider these questions and your answers before you start talking to lenders.
Next: You’ll want to have an understanding of the different loans that are out there. There are lots of options, and it can get a little co ...
Wednesday, September 11, 2019 / by Ashley Yates
There are a lot of home pricing resources out there, and some are far better than others.
When it’s time to sell your house, you may be feeling a little anxious. A chapter of your life is closing. There’s a lot of money on the table. You may be thinking “Is my house priced too high?" "Too low?" "Am I leaving too much money on the table?” These are big questions.
Luckily, you have a few resources at your disposal to figure out where your house stands among the crowd: a listing agent’s expertise and guidance, plus online property sites to get insight into the market.
So take a deep breath. Then do your homework. The more you know, the more confident you’ll be when it’s time to make those big decisions.
Turn to Local Experts — Because They Really Know Their Stuff
The good news: Local market info is freely available online, so you, the seller, can get a sense of what your house is worth.
The bad news: Lo ...