Moving to a new home can be both an exciting and complicated process - especially if youre relocating to a new state. Several factors are worth considering in preparation for your move, and relocating to a new state can add even more to your moving checklist. In this article, we'll discuss everything you need to know before moving from state to state.
Pricing out your move is a key element in your moving checklist. Costs will vary greatly, depending on what you plan to move and the type of moving service you choose. The good news is that although moving costs can typically exceed initial estimates, you can still have control over the general price range for your move. If you're willing to put in the sweat and effort, you can save thousands of dollars.
If you've been through a divorce, a fresh start comes with new matters to consider when buying a house or refinancing your current mortgage. Depending on your own individual situation, you may eventually have to look for a new home, which requires you to reenter the mortgage market. In this article, we'll discuss what that might look like.
Can't decide whether to rent or buy your home? If the idea of homeownership is appealing to you, it's crucial to understand what you might be gaining (and losing) once that property deed is in your hands. Let's dive into a few pros and cons of buying a house to help you make the best-informed decision and receive the most benefits.
Land contracts have become an increasingly popular alternative to traditional mortgages, as they are typically used for buyers who are unable to get a mortgage, or for those who have experienced a foreclosure or short sale. In this article, we'll go over everything you need to know about a land contract such as the pros and cons, what it will cover, and how to transfer it to a traditional mortgage.
Are you a potential homebuyer wondering if buying a house makes sense during periods of rising inflation? Well, we're here to tell you that it depends. If you don't buy when prices start to rise, they might only get higher as you wait. Or, they can also fall, but the problem is that our economy is unstable and unpredictable, so no one knows exactly when prices will rise or fall.
Single-family homes are a popular choice for those seeking to own their own property and enjoy the privacy and freedom that comes with it. These dwellings typically consist of one residential unit on its own plot of land, allowing residents to have complete control over their living space and a backyard or front yard of their own. Despite the many advantages, there are some drawbacks to consider before making this type of purchase, which we will explain in this article.
For those who enjoy urban life but don’t want the hassle of owning a home, condos offer a great alternative. With the right condo, you can have all of the benefits of city living without having to deal with the long-term responsibilities homeownership requires. Additionally, condos are often much more affordable than single family homes and offer an opportunity to invest in property that can potentially appreciate in value over time. Whether you’re looking for convenience, affordability or a potential investment, condo life can provide you with the perfect balance.
You finally found the perfect house! Fortunately, your offer has been accepted and you are ready for the next step, but your agent tells you the home is for sale by the owner. While selling a house by owner can be tricky, the buying process can be as well. What does for sale by owner really mean, and how does it affect the buyer? Let’s learn about it!
It’s safe to say most people selling their homes want to maximize their return on investment. For some determined sellers, this path is paved by listing homes for sale by owner (FSBO). By selling without a real estate agent, you can receive some great benefits – including saving on agent commissions.
A common question asked when attempting to buy a home for the first time is, “What is a 4-point inspection?” This inspection gives a homeowners insurance company direct insight into the current condition of your house, examining four major systems: roofing, electrical, plumbing, and HVAC. By having this inspection performed, the insurance company will understand the true liability they’ll take on should coverage be given.
An FHA loan might be right for you if you have a lower credit score or only a small amount of money saved for a down payment. FHA loans are backed by the Federal Housing Administration and can allow you to buy a home with a credit score as low as 580 and a down payment as low as 3.5%. In some cases, you can even buy a home with a credit score of 500 (but you would need to have a 10% down payment).
As you prepare to apply for a mortgage, you'll come across terms you may not know like "prequalification" and "preapproval." It's essential to understand what these terms mean, as they'll guide your home search and help you focus on homes you can afford. When the time comes, they can also help you decide how much to offer and show the seller that you're a serious buyer.
Everyone wants to believe their home’s value is on the rise, but the truth is, homes that have received little to no upgrades over time are typically in a constant state of depreciation. This isn’t the type of news you want to hear when it comes time to sell the property, so it’s important to be proactive in understanding your home’s value and the factors that impact it.
It’s important to understand the costs you’ll be responsible for when purchasing a home with a mortgage loan. One of those expenses might be mortgage insurance. We’ll walk you through the different types of mortgage insurance, how long you’ll have to pay it, the approximate costs, and whether you can avoid it.
An acceleration clause in real estate is a provision contained within a mortgage agreement that provides the lender the right to demand immediate repayment of the entire loan balance if the borrower defaults on the loan. This happens when payments are not made in accordance with the terms of the agreement or if other conditions of default are met. The clause indicates that upon default, the entire loan balance, including principal and interest, is due. This means that the lender can demand repayment of what may be a large amount of money in a short period of time, typically within 30 days.
Flood insurance is a type of property insurance that provides financial protection against any damages or losses related to flooding, regardless of the cause. It compensates for both direct and indirect losses caused by flooding, such as physical damage to structures and contents due to water, destruction of crops and livestock, loss of business income, and other related costs. The coverage offered by flood insurance varies depending on the policy, but generally covers structure and contents damage caused by direct physical losses from floods.
Purchasing a home with a mortgage involves several different parties, and multiple steps are required by each one. Lenders and brokers need loan applications filled out, financial documents turned in, fees paid, and questions answered.
It can be hard to keep track of everything that goes into buying a home with a mortgage loan. Luckily, you don’t have to go through it alone. Mortgage loan originators will not only fund your loan, but they’ll also help walk you through the loan process to ensure you make it to the closing table.
