Three Tips for First-Time Homebuyers

Written by Delray Beach Mortgage Syndicated User on May 6, 2022. Posted in Buying Myths, Delray Beach Condo Financing, Delray Beach Mortgage, Down Payments, First Time Home Buyers, For Buyers.

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start. Here are three things that can help give you the information you need to confidently pursue your dream of homeownership. 1. Consider All Options When the Number of Homes for Sale Is Low Today, there are far more buyers in the market than there are homes available for sale....

Things That Could Help You Win a Bidding War on a Home

Written by Delray Beach Mortgage Syndicated User on May 4, 2022. Posted in Buying Myths, Delray Beach Condo Financing, Delray Beach Mortgage, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers, Pricing.

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition....

What You Need To Budget for When Buying a Home

Written by Delray Beach Mortgage Syndicated User on April 6, 2022. Posted in Buying Myths, Delray Beach Condo Financing, Delray Beach Mortgage, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers.

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a few things experts say you should plan for along the way. 1. Down Payment As you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe you...

Key Terms for Homebuyers [INFOGRAPHIC]

Written by Delray Beach Mortgage Syndicated User on March 12, 2022. Posted in Buying Myths, Delray Beach Condo Financing, Delray Beach Mortgage, Down Payments, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers.

Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up. Content previously...

Down Payment Assistance Programs Can Help You Achieve Homeownership

Written by Delray Beach Mortgage Syndicated User on March 3, 2022. Posted in Buying Myths, Delray Beach Condo Financing, Delray Beach Mortgage, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers.

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Association of Realtors (NAR) shows: “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most difficult step in the process.” If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that can...

Millennials: Do You Need a Home with More Space?

Written by Delray Beach Mortgage Syndicated User on March 1, 2022. Posted in Delray Beach Condo Financing, Delray Beach Mortgage, Demographics, Down Payments, For Buyers, For Sellers, Millennials, Move-Up Buyers.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states: “They...

Category: Down Payments