Homebuying July 11 2018

Does Moving Up Make Sense?

Do you find yourself daydreaming about a bigger home, a shorter commute or a nicer neighborhood? It may be time to consider a move up. But does it really make sense right now? Check out some of our tips on determining if moving up is the right move for you.

Check your equity

You want to make sure you at least break even on your mortgage payoff before selling your current home. Look at your annual mortgage statement or call your lender to find out how much equity you have in your current home. Usually, you don't build up much in those first few years of paying a mortgage, but if you have owned your home for 5+ years you may have significant unrealized gains.

Review your income

Before making a move, review your income and budget to ensure that you can sustain the additional costs involved with moving - a new mortgage, taxes, insurance, and maintenance. You will want to also make sure any larger bills have been paid down before taking on these new expenses.

Location, location, location!

Often times your first home doesn't always fit your current lifestyle. You may have new requirements for your new neighborhood such as school districts, safety, or closer commutes. Check the pros and cons of your current neighborhood to that of a new one to determine if you need to make the move.

Consider a remodel

Depending on what you need, there may be the option to adding on or remodeling your current home. This may be more cost-effective than a complete move, especially if you look into using a renovation loan.

How are the interest rates?

A low rate will not only help you buy a larger home, but it will also make it easier to find a buyer for your current home. Research the rates to see if now is a good time to move up. If rates are low but purchasing a new home may not be practical right now, you can always look to refinance.

Is it time for a home upgrade?

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December 17 2018

FHA Announces New Loan Limits for 2019

The Federal Housing Administration (FHA) has announced their new loan limits—and it looks like it’s another increase in 2019!

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Student Loan Debt? How You Can Still Get A Mortgage.

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November 15 2018

The Impact of Rising Rates

If you’ve ever had a credit card or purchased a car, you should be familiar with interest rates. An interest rate is the percentage of the amount you are borrowing (known as the principle) charged by the lender as a fee for allowing you to use their money....

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November 12 2018

What to Keep From Your Closing

After several stressful months of buying or selling your home, it may be tempting to put the transaction in the past and dispose of the evidence—which is often more than 100 pages. However, there are several important legal and financial documents...

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What is an Appraised Value?

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November 02 2018

Pros and Cons of Buying a Condo

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October 29 2018

What a Home Inspection Should Cover

Before making what may be the largest investment of your life, you’ll want to get a home inspection. Home inspectors are trained to examine the physical structures and systems of a house. If you’re going to spend hundreds of thousands of your...

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October 26 2018

5 Reasons to Invest in Real Estate

Increasingly, Americans are choosing to invest in real estate instead of stocks, bonds, or mutual funds. From 2000 to 2016, real estate outperformed the stock market at a ratio of about 2-to-1. For three years in a row, Bankrate found more U.S. adults feel...

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October 22 2018

What Does a Realtor Do?

Ever wonder about the difference between a real estate agent and a realtor? They’re the same, right? Not so. Working with a real estate agent can take a lot of time and stress out of the home buying process, but not all real estate agents are the same....

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