Assumable mortgages seem to be all the rage these days—if you’re able to snag one. But buyers should note they can come with some very expensive caveats. What is an assumable mortgage? These loans are just what they sound like. They are the original loans taken out by sellers when they purchased their homes. When the homeowners sell their homes, the new buyers then “assume” their mortgages. The advantage to today’s buyers is many homeowners
When buying a home, most people think first about location and, of course, price. But another important decision is home type — i.e., deciding between a single-family home, a condominium, or a townhouse. Should You Buy a House, a Condo or a Townhouse? Buying a condo, a townhouse, or a single-family home has a big impact on your lifestyle. It determines how much control you have over making changes to your home, and how much
The market remains tough for buyers, but there’s still no time like the present to start shopping. From high prices to low inventory, potential home buyers know it’s gnarly out there. But if you’re ready for homeownership, the long-term benefit of buying often outweighs the pain of toughing out the search — even these days. Think of it like your 5 a.m. spin class: You know it’s good for you, even if it takes grit
Loan limits for most mortgages are increasing in 2023. While updated FHA and VA loan limits won't be in effect until after the new year, if you're getting a conventional loan from Fannie Mae and Freddie Mac, you can take advantage of increased buying power now. We’ll go over what the new limits are and what this means for home buyers or those looking to refinance. Understanding The Loan Limit Changes There are three types of
Does the time of year actually matter when buying a house, condo or apartment? The short answer: yes and no. Seasonality tends to affect factors such as inventory (the number of homes for sale) and purchase price. During spring, inventory is plentiful, but competition among buyers may cause prices to rise. By contrast, home prices may be lower during winter, but inventory is usually limited – and moving in may be more difficult, depending on
Homes for Heroes connects first responders, teachers, health care workers, members of the military and veterans with local real estate and lending professionals. You'll receive a discount — which varies, depending on the service provided and whether you're buying, selling or refinancing — from each service provider you use within the Homes for Heroes network. Here's more about how Homes for Heroes works and how much you could save. What does Homes for Heroes do?
Becoming a first-time homeowner takes a lot more than a desire to buy a house. It takes a lot of effort on your part to save up a down payment — which is usually a pretty good sized chunk of change — research neighborhoods, get pre-approved for a loan and other steps. Fortunately, it is quite possible to say goodbye to renting and hello to homeownership, especially when homeowners-to-be consider the following tips: Focus on
From beautiful green spaces to a diverse selection of museums, weddings venues, tours, free attractions, parks, and restaurants, Charlotte is a fun city to visit year-round. Discover the Mint Museum, the oldest art museum in North Carolina, tour the 150,000-square-foot NASCAR Hall of Fame, and watch a theater performance. ImaginOn is one of the best things to do in Charlotte, NC with kids. You may also enjoy visiting one of the nearby beaches or waterfalls.
A down payment is an important component of taking a step toward homeownership. Saving for a down payment is also the biggest obstacle that you probably face when you want to buy a home. A down payment is the cash you pay upfront when you’re going to make a large purchase. If you were going to buy a $350,000 home with a 10% down payment, you’d need to have $35,000 in cash. Then, your mortgage
Even though vaccinations are widespread in the U.S. right now, many people are still spending a lot of time at home. Summer 2021 is likely going to bring some return to normalcy, but it’s probably going to be a slow process. You still want your home to feel like an oasis, and with that goal in mind, the following are some of the biggest interior design trends right now. Maxed Out Design Minimalism had its
Because of the bravery and sacrifices of veterans and active military, the rest of the country’s civilians can live the American dream in safety. As one tangible way to say “thank you for your service,” current and former members of the military have access to Veterans Affairs home loans. These unique mortgage options allow veterans and those still serving to own a piece of the American dream by potentially qualifying for homes they might have