1. Expect Rules on What You Can (and Can’t) Change When you buy in a designated historic district, your home’s exterior is often protected by preservation guidelines. That means: No major exterior changes without approval from a local historic commission You may need permits for things like window replacements, paint colors, roofing, or fencing Modernizing interiors? Usually allowed—but still check […]

1. A Home Inspector Examines the Entire Property When you’re under contract, you’ll schedule a licensed home inspector to visit the property. During the inspection, they’ll review: Structural components like the foundation, roof, walls, attic, and basement Systems like electrical, HVAC, and plumbing Windows, doors, appliances, water heater, and more It typically takes 2–3 hours, and you’re encouraged to attend so

1. Earnest Money Shows You’re a Serious Buyer Think of earnest money as a good faith deposit. It’s usually 1% to 2% of the purchase price, and it tells the seller: You’re committed You’re not making multiple offers just to test the market You’re willing to follow through if everything checks outThe funds are submitted shortly after your offer is

1. Flood Insurance Is Often Required—and Can Add to Your Monthly Costs If you’re using a mortgage to buy a home in a high-risk flood zone, your lender will likely require flood insurance. Here’s what to keep in mind: Premiums can range from a few hundred to several thousand dollars per year, depending on the property’s risk

1. A Buyer’s Agent Works for You, the Buyer A buyer’s agent is your advocate from start to finish. Their job is to: Help you find the right home that fits your needs and budget Advise you on pricing, comps, and market conditions Write offers and negotiate on your behalf Guide you through inspections, repairs, and closing Best

1. Build 20% Equity in Your Home The key to canceling PMI is hitting that magic number: 20% equity. That means your remaining loan balance is 80% or less of your home’s current value.There are two main ways to build equity: Regular monthly payments (which chip away at your principal) Making extra payments (even one extra payment a year

1. Proof of Income Shows You Can Afford the Loan Lenders want to be sure you can comfortably make your monthly payments. To do that, you’ll need to provide: Recent pay stubs (typically last 30 days) W-2 forms (for the last 2 years) Tax returns (especially if you’re self-employed or have side income) These documents help confirm your

1. A Rate Lock Freezes Your Interest Rate A mortgage rate lock is when your lender guarantees a specific interest rate for a set period, usually 30 to 60 days. This lock-in period protects you from market fluctuations while your loan is being processed. So even if rates jump tomorrow, you’re locked in at today’s

1. Sellers Love the Certainty of Cash An all-cash offer means you’re not relying on a lender to fund your purchase, which gives sellers one huge advantage: peace of mind. There’s no risk of financing falling through, which can be especially appealing in a competitive market. Your offer could even beat out higher bids—just because it’s

1. A HELOC Works Like a Credit Card, Not a One-Time Loan A HELOC (Home Equity Line of Credit) gives you access to a credit line you can draw from as needed—similar to a credit card. Instead of getting a lump sum upfront like a home equity loan, you: Borrow only what you need, when you need it Make

1. You Borrow Against the Equity in Your Home Home equity is the difference between your home’s current value and what you still owe on your mortgage. A home equity loan lets you borrow a portion of that difference—often up to 80-85% of your equity. But remember: you’re using your home as collateral, which means if you