Buying Mortgage Tips

What Is an Assumable Mortgage and How Much Money Can It Save Homebuyers?

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 […]

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Buying Condo Home Home Ownership Real Estate Townhome

Is It Best to Buy a House, Condo or Townhouse?

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 […]

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Buying Home Home Loan Home Ownership Mortgage

Buying a House in 2024: What to Expect

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 […]

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Buying Home Home Loan Home Ownership Mortgage

Mortgage Loan Limits Rise in 2023

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 […]

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Apartment Buying Home Home Ownership Real Estate

The Best Time of Year to Buy a Home

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 […]

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Buying Home Ownership Money

How to Say Goodbye to Renting and Hello to Home Ownership

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 […]

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