1. The Final Walk-Through Confirms the Home Is Ready The final walk-through is your last chance to inspect the property before closing. Typically scheduled 24–48 hours before you sign the final paperwork, this visit ensures the home is still in the agreed-upon condition. It’s your opportunity to confirm: The property is clean and empty Appliances and […]
1. Get Pre-Approved to Know Your Budget Pre-approval is your first smart move. You’ll provide your lender with basic financial information—income, debts, credit history—and they’ll give you a pre-approval letter with a loan amount you qualify for. This helps you shop with confidence, knowing what’s in your price range—and shows sellers you’re a serious buyer.
The Real Cost of Waiting to Buy “I think I’ll wait until the market cools down.” “I want to save more first.” “I’ll buy next year — when rates drop.” These are all valid thoughts. But here’s the problem: the market doesn’t wait. And the cost of waiting to buy a home is often far
Let’s talk about three of the most misunderstood forces in personal finance — and how they can either drain your wealth or build it faster than anything else: Inflation Interest rates Ownership Most people think rising rates and inflation are bad for buyers. But smart buyers understand the full picture — and how ownership protects
The Wealth Gap: What the Rich Know About Real Estate Let’s talk about the truth behind the wealth gap. It’s not just income. It’s not just education. It’s ownership — especially real estate ownership. The wealthy understand how to use real estate as a tool, not just a place to live. And once you understand
Should You Pay Points to Lower Your Rate? If you’ve ever gotten a mortgage quote and seen “discount points” or “rate buydown” listed, you might have wondered… Is it worth paying extra upfront to get a lower interest rate? The answer? Sometimes yes. Sometimes no. It all depends on how long you plan to hold
Let’s be honest — the housing market can feel unpredictable. Rates move. Prices fluctuate. Inventory shifts. It’s tempting to wait for “the perfect time.” But here’s the truth: time is your greatest asset when it comes to building wealth through real estate. At Stairway Mortgage, we’ve helped hundreds of buyers realize that the smartest move
1. Foreclosures Are Often Sold As-Is—So Budget for Repairs Yes, foreclosed homes are often priced below market value. But that discount comes with a trade-off: the property is typically sold as-is, meaning: No repairs from the seller Potential hidden damage No guarantees about condition You’ll be responsible for any and all repairs, from plumbing issues to structural concerns.
1. Contingencies Are Conditions Built Into the Contract Contingencies are specific conditions that must be met for the sale to go through. Common ones include: Financing contingency (you must get approved for your loan) Inspection contingency (the home must pass inspection) Appraisal contingency (the home must appraise for at least the purchase price)These are not
First-Time Buyer Guide: Closing Costs Explained in 60 Seconds ���� Thinking about buying your first home but not sure what “closing costs” actually mean? You’re not alone.Most first-time buyers are surprised by the extra costs that show up right before they get the keys. But here’s the good news: once you understand what closing costs are
1. Homeowner’s Insurance Protects You From the Unexpected Think of homeowner’s insurance as your home’s shield against life’s curveballs. It typically covers: Fire and smoke damage Theft or vandalism Storm and water damage (within limits) Liability if someone’s injured on your propertyIt also helps cover the cost of repairing or replacing your belongings—and in major events, even