1. Property Taxes Fund Local Services Property taxes are local taxes based on the value of your home and land. They help fund essential public services like: Schools Roads and infrastructure Police and fire departments Parks and librariesEven though you’re paying them, these taxes benefit your entire community—and that’s why they’re required annually. Understanding property taxes is […]
Worried You Need 20% Down? Here’s the Real Deal. If you’ve heard that you have to put 20% down to buy a home, you’re not alone—and you’re also not quite right. The idea of needing a huge pile of cash stops a lot of people from even trying. But the truth is, there are flexible,
1. A Home Warranty Covers Systems That Wear Out Over Time Unlike homeowner’s insurance, which covers things like fire or weather damage, a home warranty covers functional items inside your home. That includes: Heating and cooling systems (HVAC) Plumbing and electrical systems Major appliances like your fridge, oven, or dishwasher If one of these breaks
1. Real Estate Agents Are Licensed Guides A real estate agent is licensed to help buyers and sellers navigate real estate transactions. They can show homes, write offers, negotiate, and support you every step of the way. However, agents must work under a licensed broker, who oversees the legal and ethical side of every deal.
A Fixed-Rate Mortgage Keeps Your Payments Predictable With a fixed-rate mortgage, your interest rate—and your monthly payment—stay the same for the life of the loan, whether that’s 15, 20, or 30 years. This is ideal if: It’s the “set-it-and-forget-it” option that gives many buyers peace of mind. See what fixed-rate payments look like with our
1. Look Past the Pretty — Check the Condition It’s easy to get swept up by stylish staging, but your first focus should be on the bones of the house. Keep an eye out for water stains, ceiling cracks, uneven floors, or outdated systems like old HVAC units or electrical panels. These could signal hidden
1. The Perks (and Price) of New Construction New builds offer: Modern layouts and finishes Energy-efficient systems and appliances Customization options (flooring, cabinets, paint colors) They’re perfect if you want a move-in ready home with zero surprises. However, new construction can come with a higher price tag and longer timeline—you might wait several months before you can move in,
1. Apply for a New Loan, Just Like You Did the First Time Refinancing starts with a new mortgage application. You’ll provide updated financial information—like pay stubs, tax returns, and credit history—just as you did for your original loan. The lender will also order a home appraisal to confirm your property’s current value. Before you
1. Set a Clear, Realistic Goal Start by knowing how much you actually need. Your down payment could be as low as 3% to 5% of the purchase price, depending on your loan type. So if you’re buying a $300,000 home, that could mean $9,000 to $15,000. Once you’ve got your number, set a deadline
1. Review All Documents Ahead of Time A few days before closing, your lender and title company will send you a Closing Disclosure, which outlines your final loan terms, monthly payments, and closing costs. Take time to: Read everything carefully Ask questions about anything unclear Confirm wire instructions to avoid scams This is your chance to catch errors
1. Make a Strong, Strategic Offer Don’t guess—base your offer on market conditions and comparable sales in the area. In a seller’s market, you may need to come in at or above asking. But in a slower market, you might have room to offer slightly less. Either way, a strong offer shows the seller you’ve