It pays to not get more home than can be reasonably afforded. A home-buying budget can help create a financial cushion when first purchasing a home, making it easier to make regular mortgage payments and upgrades to a home. Know how to get started on a realistic home-buying budget today.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
Review Current Expenses
When buying a home, the amount of debt to an applicant's income will be of interest to lenders. Before looking for a mortgage lender, review your credit history, credit card and banking statements over the last three months. Assess how much money generally goes towards expenses like:
- Car or
When a homeowner is looking to sell their home, especially in a sellers market, they may get multiple offers, including those involving cash offers. While many buyers are financing their home with a conventional loan, a few may be able to make an offer in cash. What does this mean for the seller? Is a cash offer a better route than working with buyers financing with a lender? These are only a few questions that pop up when getting such an offer for the first time. Understand more about what happens when accepting a cash offer on a home.
Not every seller is in the position to offer seller financing, but those that do can benefit from a sizeable return and may be able to close on a home faster. This can be a useful option for those wanting to sell in a market with stringent credit requirements for buyers. It is important for a homeowner to consider whether seller financing can be a practical alternative and if it is possible to take on the responsibility of financier. Understand more about seller financing and when it is a useful choice to sell a home.
Many people dream of owning a slice of history, and that can be done fairly easily through buying a historic Tuscany home in Henderson NV. A historic home is defined as a home that is associated with a significant historical event or was significant to a historical figure’s past, is distinctive in its construction, and gives insight to the time period that it was built in. Buying a historical home can seem amazing on the surface, but there’s a lot more to it than just signing on the dotted line. Here are some of the most important things buyers need to know about historical homes before making an offer so they can decide if it’s truly for them.
Active adults that have more home than they need may be looking to buy a new home to meet their current lifestyle. It can be useful to find a home that will provide the support and community needed in the next stage of life. The age-restricted community is a great idea for some who are looking to make a change.
Very few people have the means to buy a home with cash only, and that means in order to buy a home, most people are going to need a loan. Because loans are so important to buying homes, it’s important that buyers make sure they don’t make any mistakes when applying for and using them. However, it can be easy to make mistakes, especially for first-time home buyers who haven’t dealt with mortgages before. Here are some common mistakes buyers make regarding mortgages and how to avoid them.
Pre-qualification and pre-approval are both a part of the mortgage application process. All home buyers who apply for a mortgage must go through these processes. To show they are able to qualify for a mortgage, most buyers will start the mortgage application process before making an offer on a home.
The kitchen counters are a major feature in the room, making it important for homeowners to consider a few types of materials before settling on one. Before deciding, they need to consider how much time they spend in the kitchen, what types of meals they prepare, and how long they plan to own the home before selling. For those getting ready to start a DIY project or hire a professional to add or redo countertops, keep the following in mind about the many colors, patterns, and textures available on the market.