There are few things more exciting than finding your ideal home, but with the rising cost of housing, a person's dream home can often come with a very high purchase price. If you're wondering how much home you can truly afford and how your cost of living will fare for your mortgage approval, here are some of the details on what you can expect when it comes to finding a home at an affordable price. What Is Your Debt-to-Income Ratio? Before deciding if a home is right for you, it's important to … [Read more...]
Buying for Retirement: 3 Reasons Why You’ll Want to Buy Your Retirement Home Before You Retire
Many people dream of buying their ideal retirement home after their career has come to a conclusion - with all that extra free time it seems like it'd be the most logical time to shop around. However, many real estate professionals strongly recommend that their clients find a retirement property before they're off the payroll. While it may seem like a big time commitment to find a new home while you're still busy with your work there are several significant financial benefits to purchasing your … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 6, 2016
Last week's economic reports included readings on pending home sales, construction spending and consumer sentiment. Case-Shiller Home Price Indices for June were released, along with several labor-related reports including national unemployment, ADP Payrolls and Non-Farm Payrolls were also released along with weekly readings on new jobless claims and Freddie Mac's survey of average mortgage rates. Case-Shiller: Home Price Growth Holds Steady in June According to the Case-Shiller 20-City Home … [Read more...]
Can You Use a Reverse Mortgage to Buy Your Next Home? Yes, and Here’s How
Most people who have been on the market for a home are familiar with what the term 'mortgage' means, but many have not heard of a reverse mortgage and aren't aware of how this product can benefit them. If you're nearing retirement and are contemplating a new home or even relocation to another community, here are the details on a reverse mortgage and how this option may benefit you. What Is A Reverse Mortgage? While many homeowners may not have the net worth to be able to buy another home without … [Read more...]
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