How Much Income Do I Need to Buy a House?
Homeownership is not just for the ultra wealthy. While income is an important factor when buying a house, knowing exactly how much you need to earn is not as simple. Most people who buy a home use a mortgage loan to finance the majority of the purchase price. Lenders consider an applicant’s debt-to-income (DTI) ratio […]
Understanding an Appraisal Contingency
When buying a new home, you have the chance to put in a number of contingencies to the purchase contract to protect you during the process. A contingency is a condition that must be met in order for the contract to remain valid. If it is not met to the buyer’s satisfaction, they are able […]
Should I Buy or Rent?
The biggest question those considering homeownership need to answer is simple: Should I buy or rent my home? Here is a look at the pros and cons of each. Buying Pros: Cons: Renting Pros: Cons: You will need to consider your individual situation to decide which path is right for you. If you are moving […]
Finding the Right Location to Buy a Home
They say that buying a home is all about location, location, location. But what if you do not know what location is right for you? Here are a few factors to consider when deciding on just the right place to put down your roots. Once you have an idea where you may want to look, […]
Expenses First Time Home Buyers Need to Save For
If you are getting ready to purchase your first home, there are a few expenses that you need to prepare for before getting to the final closing table. Some are even required before you start searching or complete the sale. Here are five major expenses that first time home buyers should start saving for when […]
5 Strategies to Save for a Home
Buying a home is a big purchase, one that takes time to save up to afford. Many homebuyers use a mortgage to finance the majority of the cost, but still need to save up a down payment. Here are five ways to build up your savings to get you into a new house sooner. Using […]
How to Get Preapproved for a Mortgage
Before you begin your new home search, talk to a lender about getting preapproved for a mortgage. This important step can save you time in negotiations and keep your search on target and within budget. What exactly is a preapproval and how do you get one? A preapproval is different than a prequalification because it […]
First-Time Homebuyer’s Checklist
Ready to purchase your first home? Use this easy-to-follow checklist to navigate the path to home ownership.
Understanding Cash to Close
If you have received your Closing Disclosure from your lender, you are almost done with your home buying journey. The Closing Disclosure, provided at least three full days before closing when you sign the final purchase documents, means that you are at the finish line, ready to celebrate with keys in hand. On the CD, […]
A Step-by-Step Guide to Shopping for a New Home
Whether this is your first or tenth home purchase, shopping for a new home is an exciting time. It can also be a stressful and lengthy process. This guide can help you stay on track and in your new home in no time. Start Your Search Before you go to your first open house or […]
