Purchasing a home is a significant financial milestone, but for many potential buyers, the upfront costs and down payment can be a barrier. Fortunately, there are a variety of mortgage assistance programs available through government agencies and nonprofit organizations to help low- and moderate-income homebuyers achieve their dream of homeownership. These programs can provide financial assistance, lower interest rates, or other benefits to ease the burden of purchasing a home. Here’s … [Read more...]
Steps to Prepare for Future Home Financing and Year-End Financial Checklist
As the year draws to a close, it’s the perfect time to take a step back and review your financial health, especially if you plan to purchase a home next year. Whether you’re a first-time buyer or looking to upgrade, proper preparation can make all the difference when securing a mortgage with favorable terms. Here's a comprehensive checklist to ensure you’re financially ready for home financing in the year ahead. 1. Review Your Credit Score Your credit score is one of the most … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 2nd, 2024
Leading off with the FOMC Minutes, the Federal Reserve has stated once again they will maintain a “gradual” approach to cutting interest rates, which has aligned with their goals of meeting their target 2% inflation goal. The PCE Index release numbers, the Federal Reserve’s preferred inflation indicator, have shown everything is within expectations. So while the rate cuts may be a gradual process, there is much optimism that they are coming. Following those reports were … [Read more...]
What You Can Do Now to Prepare for Mortgage Rate Drops
As we move into the last month of 2024, many potential homebuyers are eagerly awaiting a drop in mortgage rates. With inflation numbers looking promising, there's hope that the Federal Reserve will lower the federal funds rate, which typically drives mortgage rates down as well. If you're planning to buy a home or refinance when rates drop, now is the perfect time to start preparing. Here are five key steps to get ready for the mortgage rate decrease and ensure you’re in the best possible … [Read more...]
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